mba assignment - final project by mahiuddin shams

8/10/2019 MBA Assignment - Final Project by Mahiuddin Shams

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LC Code: 01713

Apar India Institute of Management & Technology

Rohini, Sector - 8, New Delhi - 110085, Tel.: 011 45044000

www.aparindiacollege.com

A Comparatie !tudy of Inestment "lan of ICICI "rudential Life

Insurance and Life Insurance #ith other Companies

B:

Mahiuddin !hams

! pro"ect report #$%mitted in partial &$l&illment o& the re'$irement# &or the

degree o& (a#ter o& B$#ine## !dmini#tration o& Si))im (anipal *ni+er#it,

ND!

!i$$im Manipal %niersity

o& ealth, (edical and Technological Science#

Di#tance d$cation /ing, Sndicate ho$#e,

(anipal - 5104

P a g e |1of 104 MAHIUDDIN SHAMS

MBA Assignment - Final Project
http://www.aparindiacollege.com/http://www.aparindiacollege.com/


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I hereby declare that the project entitled



S$%mitted in partial &$l&illment o& the re'$irement# &or the degree o& (a#ter# o&B$#ine## !dmini#tration to Si))im (anipal *ni+er#it, ND!, i# m original

wor) and not #$%mitted &or the award o& an other degree, diploma, &ellow#hip,

or an other #imilar title or pri2e#.

3lace: New Delhi Mahiuddin !hams

Date: 0.0.00 Reg. No: 5106855




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The project report of

Mahiuddin !hams



i# appro+ed and i# accepta%le in '$alit and &orm.

nternal 7aminer 7ternal 7aminer




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This is to certify that the project report entitled



S$%mitted in partial &$l&illment o& the re'$irement# &or the degree o& (a#ter# o&

B$#ine## !dmini#tration to Si))im (anipal *ni+er#it o& ealth, (edical and

Technological Science#

Mahiuddin !hams

a# wor)ed $nder m #$per+i#ion and g$idance and that no part o& thi# report

ha# %een #$%mitted &or the award o& an other degree, diploma, &ellow#hip or

other #imilar title# or pri2e# and that the wor) ha# not %een p$%li#hed in an

"o$rnal or maga2ine.

Reg. No: 5106855 erti&ied

9$ide;# namei+ing too long can %e a# m$ch a pro%lem a# ding too o$ng. Both

are ri#)#, which need to %e #a&eg$arding again#t. n#$rance ta)e# care.




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The Business of Insurance

n#$rance companie# are called in#$rer#. The %$#ine## o& in#$rance i# to:-

a< Bring together per#on# with common in#$rance intere#t# 9#haring the

#ame ri#)#i&e in#$rance incl$de# all ri#)# related to the li+e# o& h$man %eing#

and general in#$rance co+er# the re#t. eneral in#$rance ha# three

cla##i&ication# +i2, Aire 9dealing with all &ire related ri#)#


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in#tr$ment &or the mo%ili2ation o& #a+ing# o& the people, partic$larl &rom the

middle and the lower income gro$p#. The#e #a+ing# are channeled into

in+e#tment# &or economic growth.

!ll good li&e in#$rance companie# ha+e h$ge &$nd#, acc$m$lated thro$gh the

pament# o& #mall amo$nt# o& premia o& indi+id$al#. The#e &$nd# are in+e#ted

in wa# that contri%$te #$%#tantiall &or the economic de+elopment o& the

co$ntrie# in which the do %$#ine##. The pri+ate in#$rer# in ndia are new and

had not %$ilt $p &$nd# in 00. B$t now the are al#o capa%le to contri%$te to

the co$ntr;# economic de+elopment.

Types of Insurance

I/ Classification on the asis of nature of usiness

i# Life Insurance

>i&e in#$rance ma %e de&ined a# a contract in which the in#$rer, in

con#ideration o& a certain premi$m, either in a l$mp #$m or % other periodical

pament#, agree# to pa to the a##$red, or to the per#on &or who#e %ene&it the

polic i# ta)en, the a##$red #$m o& mone F on the happening o& a #peci&iede+ent contingent on the h$man li&e.

! contract o& li&e in#$rance, a# in other &orm# o& in#$rance, re'$ire# that the

a##$red m$#t ha+e at the time o& the contract an in#$ra%le intere#t in hi# hal&

$pon which the in#$rance i# e&&ected. n a contract o& li&e in#$rance, $nli)e

other in#$rance intere#t ha# onl to %e pro+ed at the date o& the contract, and

not nece##aril pre#ent at the time when the polic &all# d$e.

! per#on can a##$re in hi# own li&e and e+er part o& it, and can in#$re &or an

#$m what#oe+er, a# he li)e#. Similarl, a wi&e ha# an in#$ra%le intere#t in her

h$#%and and +ice-+er#a. owe+er, mere nat$ral lo+e and a&&ection i# not

#$&&icient to con#tit$te an in#$ra%le intere#t. t m$#t %e #hown that the per#on

a&&ecting an a##$rance on the li&e o& another i# #o related to that other per#on

a# to ha+e a claim &or #$pport. Aor e7ample, a #i#ter ha# an in#$ra%le intere#t

in the li&e o& a %rother who #$pport# her.




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! per#on not related to the other can ha+e in#$ra%le intere#t on that other

per#on. Aor e7ample, a creditor ha# in#$ra%le intere#t in the li&e o& hi# de%tor to

the e7tent o& the de%t. ! creditor can in#$re the li&e o& hi# de%tor $p to the

amo$nt o& the de%t, at the time o& i##$e o& the polic.

!n emploee ha# an in#$ra%le intere#t in the li&e o& the emploer ari#ing o$t o&

contract$al o%ligation to emplo him &or a #tip$lated period at &i7ed #alar.

Similarl, &rom an emploer to the emploer, who i# %o$nd % the contract to

#er+e &or a certain period o& time.

owe+er, mere nat$ral lo+e and a&&ection i# not #$&&icient to con#tit$te an

in#$ra%le intere#t. t m$#t %e #hown that the per#on a&&ecting an a##$rance on

the li&e o& another i# #o related to that other per#on a# to ha+e a claim &or

#$pport. Aor e7ample, a #i#ter ha# an in#$ra%le intere#t in the li&e o& a %rother

who #$pport# her.

ii# 4ire Insurance

Aire in#$rance i# a contract to indemnit the in#$red &or di#tri%$tion o& or

damage to propert ca$#ed % &ire. The in#$rer $nderta)e# to pa the amo$nt

o& the in#$red?# i# lo## #$%"ect to the ma7im$m amo$nt #tated in the polic. Aire

in#$rance i# e##entiall a contract o& indemnit, not again#t accident, %$tagain#t lo## ca$#ed % accident, &t i# %ecoming +er common in &ire in#$rance

policie# to in#ert a condition, called the a+erage cla$#e, % which the in#$red i#

called $pon to %ear a portion o& the lo## him#el&. The main o%"ect o& thi# cla$#e

i# to chec) $nder-in#$rance and to enco$rage &or &$ll in#$rance. t impre##

$pon the propert-owner &or the need o& ha+ing hi# propert acc$ratel +al$ed

%e&ore in#$rance.

Regarding in#$ra%le intere#t, the in#$red m$#t ha+e in#$ra%le intere#t in the#$%"ect matter %oth at the time o& a&&ecting the polic and at the time o& lo##.

The ri#) in &ire in#$rance polic commence# &rom the moment o& co+er note, or

the depo#it receipt, or the interim protection i# i##$ed, and contin$e# &or the

term co+ered % the contract o& in#$rance. t ma e+en date %ac)= i& the partie#

#o intend. The rate o& premi$m +arie# to the degree o& ha2ard or ri#) in+ol+ed.

iii#Marine insurance

! contract o& marine in#$rance i# an agreement where% the in#$rer




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$nderta)e# to indemnit the a##$red in a manner and to the e7tent there%

agreed, again#t marine lo##e#, that i#, the lo##e# incidental to marine

ad+ent$re. There i# a marine ad+ent$re when an in#$ra%le propert i#

e7po#ed to marine peril#= (arine peril# al#o )nown a# peril# o& the #ea#,

mean# the peril# con#e'$ent on, or incidental to, the na+igation o& the #ea or

the peril# o& the #ea#, #$ch a# &ire, war peril#, pirate#, ro+er#, thie+e#= capt$re#.

Cetti#on#, %arratr and an other peril# which are either o& the li)e )ind or ma

%e de#igned % the polic.

There are di&&erent tpe# o& marine policie# )nown % di&&erent name#

according to the manner o& their e7ec$tion or the ri#) the co+er. The are:

Goage polic, time polic, +al$ed polic, $n+al$ed polic, &loating polic, wager

or hono$r polic.

i"#!ocial insurance

Social in#$rance ha# %een de+eloped to pro+ide economic #ec$rit to wea)er

#ection# o& the #ociet who are $na%le to pa the premi$m &or ade'$ate

in#$rance 3en#ion plan#, di#a%ilit %ene&it#, $nemploment %ene&it#= #ic)ne##

in#$rance, etc. are the +ario$# &orm# o& #ocial in#$rance.

"# Miscellaneous Insurance

The proce## o& &a#t de+elopment in the #ociet ga+e ri#e to a n$m%er o& ri#)#

or ha2ard#. To pro+ide #ec$rit again#t #$ch ha2ard#, man other tpe# o&

in#$rance al#o ha+e %een de+eloped. The important among them are:

i< Gehicle in#$rance on %$#e#, tr$c)# motorccle#, etc.,

ii< 3er#onal accident in#$rance 9% pacing an ann$al premi$m o& R# 1F-

3olic worth R#. 1000F- can %e in#$red.< &or in+e#tment#

are 8L o& D3.

Till date, onl 0L o& the total in#$ra%le pop$lation o& ndia i# co+ered $nder

+ario$# li&e in#$rance #cheme#, the penetration rate# o& health and other non-

li&e in#$rance# in ndia i# al#o well %elow the international le+el. The#e &act#

indicate the o& immen#e growth potential o& the in#$rance #ector.

The ear 1 #aw a re+ol$tion in the ndian in#$rance #ector, a# ma"or

#tr$ct$ral change# too) place with the ending o& go+ernment monopol and the

pa##age o& the n#$rance Reg$lator and De+elopment !$thorit 9RD!< Bill,

li&ting all entr re#triction# &or pri+ate plaer# and allowing &oreign plaer# to

enter the mar)et with #ome limit# on direct &oreign owner#hip.

Tho$gh, the e7i#ting r$le #a# that a &oreign partner can hold L e'$it in anin#$rance compan, a propo#al to increa#e thi# limit to 4L i# pending with the

go+ernment. Since opening $p o& the in#$rance #ector in 1, &oreign

in+e#tment# o& R#. 8. %illion ha+e po$red into the ndian mar)et and 1

pri+ate companie# ha+e %een granted licen#e#.

nno+ati+e prod$ct#, #mart mar)eting, and aggre##i+e di#tri%$tion ha+e

ena%led &ledgling pri+ate in#$rance companie# to #ign $p ndian c$#tomer#

&a#ter than anone e7pected. ndian#, who had alwa# #een li&e in#$rance a# ata7 #a+ing de+ice, are now #$ddenl t$rning to the pri+ate #ector and #napping

$p the new inno+ati+e prod$ct# on o&&er.

The li&e in#$rance ind$#tr in ndia grew % an impre##i+e 6L, with premi$m

income &rom new %$#ine## at R#. 56.46 %illion d$ring the &i#cal ear 004-

005, %ra+ing #ti&& competition &rom pri+ate in#$rer#. Thi# report, Indian

n#$rance nd$#tr: New !+en$e# &or rowth 01J, &ind# that the mar)et

#hare o& the #tate %ehemoth, >, ha# cloc)ed 1.8L growth in %$#ine## at




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R#.1.8 %illion % #elling .4 %illion new policie# in 004-05. B$t thi# wa# #till

not eno$gh to arre#t the &all in it# mar)et #hare, a# pri+ate plaer# grew %

1L to mop $p R#. 55.5 %illion in 004-05 &rom R#. 4. %illion in 006-04.

Tho$gh the total +ol$me o& >?# %$#ine## increa#ed in the la#t &i#cal ear

9004-005< compared to the pre+io$# one, it# mar)et #hare came down &rom

8.04 to 8.0L. The 14 pri+ate in#$rer# increa#ed their mar)et #hare &rom

a%o$t 16L to a%o$t L in a ear?# time. The &ig$re# &or the &ir#t two month# o&

the &i#cal ear 005-0 al#o #pea) o& the growing #hare o& the pri+ate in#$rer#.

The #hare o& > &or thi# period ha# &$rther come down to 5 percent, while the

pri+ate plaer# ha+e gra%%ed o+er 4 percent.

There are pre#entl 1 general in#$rance companie# with &o$r p$%lic #ector

companie# and eight pri+ate in#$rer#. !ccording to e#timate#, pri+ate

in#$rance companie# collecti+el ha+e a 10L #hare o& the non-li&e in#$rance

mar)et.

"riate "layer of Life Insurance

1. 3r$dential >i&e n#$rance

. DA Standard >i&e6. SB >i&e n#$rance

4. Birla S$nli&e

5. Ba"a" !llian2 >i&e

. !+i+a >i&e n#$rance

. Oota) (ahindra >i&e n#$rance

8. Tata ! >i&e

. Reliance >i&e n#$rance ompan >imited

10. N Ga#a >i&e n#$rance11. (etli&e ndia >i&e n#$rance

1. (a7 New Kor) >i&e n#$rance

16. Shriram >i&e n#$rance

14. Bharti !M! >i&e n#$rance ompan >imited

Types of Insurance on The Basis of Business Point of /iew

i< >i&e n#$rance




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ii< eneral n#$rance

i#Life Insurance:

>i&e n#$rance i# $ni+er#all ac)nowledged to %e an in#tit$tion which eliminate#

?ri#)? and pro+ide# the timel aid to the &amil in the $n&ort$nate e+ent o& death

o& the %readwinner.

>i&e n#$rance i# a contract &or pament o& a #$m o& mone to the per#on

a##$red 9or nominee< on the happening o& the e+ent in#$red again#t. The

contract pro+ide# &or the pament o& premi$m periodicall to the n#$rance

ompan % the a##$red.

The contract pro+ide# &or the pament o& an amo$nt on the date o& mat$rit or

at #peci&ied date# at periodic inter+al# or at $n&ort$nate death, i& it occ$r#

earlier.

ii#.eneral Insurance:

eneral in#$rance %$#ine## re&er# to &ire, marine, and mi#cellaneo$#

in#$rance %$#ine## whether carried on #ingl or in com%ination with one or

more o& them, %$t doe# not incl$de capital redemption %$#ine## and ann$it

certain %$#ine##. P!ccording to Sec. 69g< o& the eneral n#$rance %$#ine##

9Nationali2ation< !ct, 1Q.

Aeat$re# o& ndian eneral n#$rance (ar)et:

1. >ow mar)et penetration.

. +er-growing middle cla## component in pop$lation.

6. rowth o& con#$mer mo+ement with an increa#ing demand &or %etter

in#$rance prod$ct#.

4. nade'$ate application o& in&ormation technolog &or %$#ine##.5. !de'$ate &illip &rom the o+ernment in the &orm o& ta7 incenti+e# to the

in#$red, etc.

. ndia i# one o& the lea#t in#$red co$ntrie# %$t the potential &or &$rther

growth i# phenomenal.

. Rate# o& claim #ettlement were earlier in ndia the highe#t in the world,

0 per cent in general in#$rance, compared to aro$nd 40 per cent

internationall.

8. Non-li&e premi$m ha# a 0.1 per cent #hare o& D3.




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. eneral n#$rer# 93ri+ate ompanie#< ha+e earned aro$nd R#.1000-cr

income.

10. al& o& the c$rrent demand &or come# &rom the corporate #egment.

Benefits of 'eneral Insurance:

1. n#$rance i# the in#tr$ment o& Sec$rit, #a+ing and peace o& mind. t

pro+ide# #e+eral %ene&it# % paing a #mall amo$nt o& premi$m to an

in#$rance compan.

. Sa&eg$ard# one;# a##et#.

6. 3eace o& mind-in ca#e o& &inancial lo##.

4. nco$rage #a+ing.

5. Ta7 re%ate.

. 3rotection &rom the claim made % creditor#.

. Sec$rit again#t a per#onal loan, ho$#ing loan or other tpe# o& loan.

Products of 'eneral Insurance

The !##$rance ompan >td. and the *nited ndia n#$rance ompan. The

o+ernment o& ndia #$%#cri%ed to the capital o& . , in t$rn, #$%#cri%ed

to the capital o& the &o$r companie#. !ll the &o$r companie# are go+ernmentcompanie# regi#tered $nder the ompanie# !ct. i# into the rein#$rance

%$#ine## wherea# it# #$%#idiarie# are into the in#$rance o& Non >i&e prod$ct#.

"roduct 'ange

i# Motor Insurance:

(otor in#$rance i# mandator &or all +ehicle# in ndia. There are two tpe# o&

motor in#$rance Third 3art- onl in#$re# the part 9partie#< other than the owner in an

incident.

omprehen#i+e- that in#$re# the owner a# well a# the third part

in+ol+ed. The premi$m &or motor Gehicle# i# decided on the +al$e o& the

+ehicle and location where it i# to %e regi#tered. The premi$m &or hea+

commercial +ehicle i# decided on the +al$e o& the +ehicle and gro##

laden weight.




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ii# Property Insurance:

3ropert in#$rance co+er# land, %$ilding and the content# o& the %$ilding.

iii# Bur%lary:

B$rglar in#$rance co+er# all lo##e# ari#en o$t o& %$rglar committed in one;#

premi#e#.

i"# 0ire Insurance:

Aire n#$rance i# a omprehen#i+e polic. Thi# polic %e#ide# co+ering lo## on

acco$nt o& &ire al#o co+er# lo## on acco$nt o& the &ollowing arth'$a)e, Riot#,

Stri)e#, (alicio$# intent, Alood#.

"# Health Insurance:

ealth in#$rance police# en#$re g$arding one# health again#t an calamitie#

that ma ca$#e long term harm to hi#Fher li&e and can hamper one# earning

a+aila%le &or a%ilit &or a li&etime. The#e health policie# are indi+id$al# and

gro$p#.

"i# &ia(ility Insurance:

Thi# polic indemni&ie# the Director# or &&icer# or other pro&e##ional# again#t

lo## ari#ing &rom claim# made again#t them % rea#on o& an wrong&$l !ct intheir &&icial capacit.

"ii# 1arine Insurance

argo in tran#it

argo declaration 3olic

(arine $ll n#$rance: nland +e##el# ocean going +e##el#, &i#hing @

#ailing +e##el#, &reight at ri#), con#tr$ction o& #hip#, +oage in#$rance o&

+ario$# +e##el#, #hip %rea)ing, in#$rance !waiting %rea) $p, n#$rance

il @ nerg in re#pect o& on#hore @ o&hore ri#)# incl$ding con#tr$ction

ri#).

"iii# Tra"el Policy:

!n to$ri#t ma die or lo## their %aggage;#, pa##port etc. while tra+eling. Tra+el

policie# are de#igned to care o& all the pro%lem# that generall occ$r while

tra+eling.




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ix# Business policy:

! B$#ine## polic co+er# the ri#)# o& lo## o& %$#ine## good#, plant and

machiner etc.

x# 2ther 'eneral Policy:

!part &rom other main general n#$rance there are #e+eral other#

eneral police# and more are going to introd$ce, #$ch a#:

Bhaga#hree hild /el&are 3olic-co+er# girl child in the age gro$p o& 0

to 18 ear#.

Ra" Ra"e#hwari (ahila Oalan Go"an#.

rop n#$rance Scheme.

Cald Rahat Ko"ana.

!+*T A)AL!I! *4 I)!%'A)C, !,CT*'

$tren%ths:




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i# Consumer .rieance 'edressal

The n#$rer# ha+e to &ace the redre##al o& the con#$mer#, grie+ance# &or

de&icienc in prod$ct# and #er+ice#. The n#$rance Reg$lator De+elopment

!$thorit 9RD!


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inno+ati+e prod$ct# to the con#$mer# and %ringing more prod$ct# wo$ld

re'$ire good amo$nt o& capital in+e#tment.

2pportunities:

i# 5ast country

ndia i# a +a#t co$ntr with more than 5, ,000 +illage# ha+ing a pop$lation o&

at lea#t 500-00 per +illage. The companie# co$ld recogni2e the &act that i& it

ta)e# the whole 2illa a# one, it wo$ld con#i#t a pop$lation more than 5000-

10000. ne 2illa co$ld gi+e them a good amo$nt o& %$#ine##. The compan

co$ld ha+e thi# opport$nit and tap it and reap re+en$e#.

ii# 8o opportunities

Since the #ector ha# opened $p, man new companie# ha+e alread #tarted it#

operation and &ew are "$#t a%o$t to %egin, (a"or area# o& emploment in thi#

#ector are the agent#. ! compan can appoint an n$m%er o& agent# anwhere

within the co$ntr on commi##ion %a#i#. (oreo+er, the pro&e##ional #ta&& and

the peon# and cler)#; appointment al#o increa#e. Th$# thi# #ector ha#

tremendo$# #cope on emploment.

Threats:

i# Lac$ of a#areness

Ger #oon the mar)et will %e &looded % a large n$m%er o& prod$ct# % a &airl

large n$m%er o& in#$rer# operating in the ndian mar)et. +en with limited

range o& prod$ct# o&&ered % > and , there i# chao# a# &ar a# the

con#$mer# are concerned. Their con&$#ion will &$rther increa#e in the &ace o& a

large n$m%er o& prod$ct# in the mar)et. The e7i#ting le+el o& awarene## o& the

con#$mer# &or in#$rance prod$ct# i# +er low. Thi# i# %eca$#e onl L o& thepop$lation o& ndia i# literate and onl 10L are well ed$cated. +en the

ed$cated con#$mer# are ignorant a%o$t the +ario$# prod$ct# o& in#$rance.

/ith new companie# coming in the mar)et, the prod$ct# wo$ld %e

comparati+el more, which wo$ld again create con&$#ion in the mind# o& the

c$#tomer# #o a# to which polic %e#t #$it# the need#.

Insurance 'egulatory and -eelopment Authority Act= 1>>> ?I'-A@




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ndian parliament pa##ed RD! in the ear 1. t i# headed % the chairmen.

t wa# #et$p on interim RD! &or monitoring @controlling o& the in#$rance

%$#ine##. RD! wa# #ole a$thorit re#pon#i%le &or awarding o& licen#e#. There

i# no re#triction &or new licen#e# @ no compo#ite licen#e# &or li&e @ non li&e

%$#ine##. RD! ha# #ome re#triction &or new licen#e# #$ch li)e new plaer

#ho$ld commence it# %$#ine## within 15-18 month. Share# are not allowed to

tran#&er witho$t appro+al.

Thi# !ct wa# pa##ed % 3arliament in Decem%er 1 and it recei+ed

pre#idential a##ent in Can$ar 000. Thi# !ct pro+ide# &or the e#ta%li#hment o&

the !$thorit to protect the intere#t o& holder# o& in#$rance policie#, to reg$late,

promote and en#$re orderl growth o& in#$rance ind$#tr and &or matter#

connected therewith or incidental thereto. t amended the n#$rance !ct, 168,

which ha# %een noted a%o+e. t al#o amended the >i&e n#$rance orporation

!ct, 15 and the eneral n#$rance B$#ine## 9Nationali2ation< !ct, 1,

th$# opening $p the in#$rance #ector to pri+ate participation.

*nder thi# !ct, an a$thorit called RD! ha# %een e#ta%li#hed. Thi# i# a

corporate %od e#ta%li#hed &or the p$rpo#e and o%"ect# a# #et o$t in the

e7planation to the title. The I!$thoritH replace# HontrollerH $nder n#$rance

!ct 168. The &ir#t #ched$le amend# n#$rance !ct 168. t #tate# that i&H!$thoritH i# #$per#eded % the entral o+ernment, the Hontroller o&

n#$ranceH ma %e appointed till #$ch time a# I!$thoritH i# recon#tit$ted.

n line with the economic re&orm# that were $#hered in ndia in earl ninetie#,

the o+ernment #et $p a ommittee on Re&orm# 9pop$larl called the (alhotra

ommittee< in !pril 16 to #$gge#t re&orm# in the in#$rance #ector. The

ommittee recommended throwing open the #ector to pri+ate plaer# to $#her

in competition and %ring more choice to the con#$mer. The o%"ecti+e wa# toimpro+e the penetration o& in#$rance a# a percentage o& D3, which remain#

low in ndia e+en compared to #ome de+eloping co$ntrie# in !#ia. Re&orm#

were initiated with the pa##age o& n#$rance Reg$lator and De+elopment

!$thorit 9RD!< Bill in 1. RD! wa# #et $p a# an independent reg$lator

a$thorit, which ha# p$t in place reg$lation# in line with glo%al norm#. So &ar in

the pri+ate #ector, 1 li&e in#$rance companie# and general in#$rance

companie# ha+e %een regi#tered.




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ottlenec$s .oernment 'egulations

The RD! %ill propo#e# to$gh #ol+enc margin# &or pri+ate

in#$rance &irm#, a L cap on &oreign e'$it and a minim$m capital

o& R# 100crore# &or li&e and general in#$rance and R# 00crore# &or

rein#$rance &irm# #ection ! o& in#$rance !ct #tip$late# that > i#

re'$ired to in+e#t 5L o& it# accretion# thro$gh a controlled &$nd in

mandated go+ernment #ec$ritie# > ma in+e#t the remaining 5L in

pri+ate corporate #ector, con#tr$ction and ac'$i#ition o& immo+a%le

a##et# %e#ide# #anctioning o& loan# to polic holder.

The#e #tip$lation# impo#ed on the in#$rance companie# had re#$lted in

lac) o& &le7i%ilit in the optimi2ation o& ri#) and pro&it port&olio. & thi#

in&le7i%ilit contin$e# the in#$rance companie# will ha+e +er little

le+erage to earn more on their in+e#tment# and the might not %e a%le

to o&&er a# &le7i%le prod$ct# a# o&&ered a%road.

The go+ernment might pro+ide more a$tonom to =in#$rance

companie# % allowing them to in+e#t 50L o& their &$nd# a# per

their own di#cretion#.

Recentl RB ha# i##$ed #ti&& g$ideline# which had death a #e+ere %low

to the plan# o& %an)# and &inancial in#tit$tion# to enter the in#$rance

#ector. t #a# that non per&orming a##et# 9 N3!< le+el# o& the

pro#pecti+e l plaer# will ha+e to %e 1L point lower than the ind$#tr

a+erage 9pre#entl .5L


43/104

in#tit$tion# ha+e to enter the new %$#ine##. The in#$rance emploee#

$nion i# o&&ering #ti&& re#i#tance to an pri+ate entr.

ICICI "rudential Life Insurance




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C*M"A) "'*4IL,

"'*4IL, *4 ICICI "rudential Life Insurance Company

0act sheet

The Company

ICICI "rudential Life Insuranceompan i# a "oint +ent$re %etween

Ban), a premier &inancial powerho$#e, and pr$dential plc, a leading

international &inancial #er+ice# gro$p head'$artered in the *nited Oingdom.

3r$dential wa# among#t the &ir#t pri+ate #ector in#$rance companie# to

%egin operation# in Decem%er 000 a&ter recei+ing appro+al &rom n#$rance

Reg$lator De+elopment !$thorit 9RD!i&e?# capital #tand# at R#. 4. %illion 9a# o& C$ne 60, 008i&e i# al#o the onl pri+ate li&e in#$rer in ndia to recei+e a

National n#$rer Ainancial Strength rating o& !!! 9nd< &rom Aitch rating#. The

!!! 9nd< rating i# the highe#t rating, and i# a clear a##$rance o&

3r$dential?# a%ilit to meet it# o%ligation# to c$#tomer# at the time o& mat$ritor claim#.

Aor the pa#t #e+en ear#, 3r$dential >i&e ha# retained it# leader#hip

po#ition in the li&e in#$rance ind$#tr with a wide range o& &le7i%le prod$ct# that

meet the need# o& the ndian c$#tomer at e+er #tep in li&e.

!istri(ution




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3r$dential >i&e ha# one o& the large#t di#tri%$tion networ)# among#t

pri+ate li&e in#$rer# in ndia. t ha# a #trong pre#ence acro## ndia with o+er

000 %ranche# 9incl$d$ng 1,05 micro-o&&ice#< and an ad+i#or %a#e o& o+er

1,000 9a# on !$g$#t 61, 008imited 9NKS:BN< i# ndia?# large#t pri+ate #ector %an) and the#econd large#t %an) in the co$ntr, with con#olidated total a##et# o& 11

%illion a# o& Septem%er 60 , 008. Ban);# #$%#idiarie# incl$de ndia;#

leading pri+ate #ector in#$rance companie# and among it# large#t #ec$ritie#

%ro)erage &irm#, m$t$al &$nd# and pri+ate e'$it &irm#. Ban);# pre#ence

c$rrentl #pan# 1 co$ntrie#, incl$ding ndia.

"rudential "lc

#ta%li#hed in >ondon in 1848, 3r$dential plc, thro$gh it# %$#ine##e# in the*O, $rope, *S, !#ia and the (iddle a#t, pro+ide# retail &inancial #er+ice#

prod$ct# and #er+ice# to more than 1 million c$#tomer#, policholder and $nit

holder# and manage# o+er 5 %illion o& &$nd# worldwide 9a# o& C$ne 60,

008


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008< and operation# in ten mar)et# incl$ding hina, ong Oong, ndia, Capan,

Oorea, (ala#ia, Singapore, Taiwan, Gietnam and *nited !ra% mirate#

1ana%ement Team

The ICICI "rudential Life Insuranceompan >imited (anagement team

compri#e# rep$ted people &rom the &inance ind$#tr %oth &rom ndia and

a%road.

(#. Shi)ha Sharma, (anaging Director @

(r. N. S. Oannan, 7ec$ti+e Director

(r. Bharga+ Da#g$pta, 7ec$ti+e Director

(#. !nita 3ai, 7ec$ti+e Gice 3re#ident $#tomer Ser+ice @ Technolog

Dr. !+i"it hatter"ee, !ppointed !ct$ar

(r. 3$neet Nanda, 7ec$ti+e Gice 3re#ident @ hie& n+e#tment &&icer

Board of !irector

The ICICI "rudential Life Insurance ompan >imited Board compri#e#

rep$ted people &rom the &inance ind$#tr %oth &rom ndia and a%road.

(r. O.G. Oamath, hairman(#. handa Oochhar, Director

(r. Barr Stowe, Director

(r. !drian ;onnor, Director

3ro&. (arti . S$%rahmanam, Director

(r. (ahe#h 3ra#ad (odi, Director

(#. Rama Bi"ap$r)ar, Director

(r. Oe)i Dadi#eth, Director

(#. Shi)ha Sharma, (anaging Director(r. N.S. Oannan, 7ec$ti+e Director

(r. Bharga+ Da#g$pta, 7ec$ti+e Director

I)I)I Prudential 1arket $hare ises To 3-4

New Delhi, Can$ar 1: : ICICI "rudential Life Insurance hi)ed it# mar)et

#hare to 4. per cent in the cto%er-No+em%er period la#t ear, $p &rom

6. per cent in &ir#t '$arter and 68.85 per cent in the #econd '$arter o& the

c$rrent &i#cal.


http://www.iciciprulife.com/public/About-us/ProfileTeam-ShikhaSharma.htmhttp://www.iciciprulife.com/public/About-us/ProfileTeam-NSKannan.htmhttp://www.iciciprulife.com/public/About-us/ProfileTeam-AnitaPai.htmhttp://www.iciciprulife.com/public/About-us/ProfileTeam-Dr.%20Avijit%20Chatterjee.htmhttp://www.iciciprulife.com/public/About-us/ProfileTeam-PuneetNanda.htmhttp://www.iciciprulife.com/public/About-us/ProfileTeam-ShikhaSharma.htmhttp://www.iciciprulife.com/public/About-us/ProfileTeam-NSKannan.htmhttp://www.iciciprulife.com/public/About-us/ProfileTeam-AnitaPai.htmhttp://www.iciciprulife.com/public/About-us/ProfileTeam-Dr.%20Avijit%20Chatterjee.htmhttp://www.iciciprulife.com/public/About-us/ProfileTeam-PuneetNanda.htm


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t# total #hare o& the R# 46.-crore premi$m collected % pri+ate plaer#

d$ring the !pril-No+em%er period #tood at 6. per cent. t# aggregate

e#timated premi$m income amo$nted to R# 14. crore a# at the end o&

No+em%er. !ccording to o&&icial#, while the premi$m mop-$p % pri+ate

companie# in !pril-C$ne 00 wa# a%o$t R# 11 crore, the corre#ponding

&ig$re# &or the C$l-Septem%er and cto%er-No+em%er period# were R# 01.6

crore and R# 10.8 crore. $t o& thi#, ;# premi$m income #tood at R# 44.4

crore, R# 8. crore and R# 51. crore, re#pecti+el.

The cited rda #tati#tic# #aing the total premi$m income o& the li&e #ector wa#

R# 1,11 crore in !pril-C$ne, 00, and R# 6,51.8 crore $ptil Septem%er.

Performance $ummary

"erformance !ummary as on *ctoer 31= i&e V 8.0L 8.56L 06 Can 05

n+e#tShield 3en#ion V 8.50L 8.5L 06 Can 05

New n+e#t Shield U N! 4.1L 1 !$g 0

Ale7i rowth N! -11.40L 0 (ar 0

3en#ion Ale7i rowth N! -16.8L 0 (ar 0

Ale7i Balance VV N! -5.L 0 (ar 03en#ion Ale7i Balance VV N! -.4L 0 (ar 0




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Performance "5s Benchmark

1arket 2"er"iew

(ey Mar$et Leels ?as on *ctoer 31=


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9#emi ann$alarge ompan categor




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ndia?# (o#t $#tomer Re#pon#i+e n#$rance ompan !+aa lo%al onnect

- conomic Time#. $#tomer Re#pon#i+ene## !ward#, 00




51/104

Be#t >i&e n#$rer 006. $tloo) (one !ward# 006 @ 004/ision 6 /alues

*ur ision:

To %e the dominant >i&e, ealth and 3en#ion# plaer %$ilt on tr$#t % world-

cla## people and #er+ice. Thi# we hope to achie+e %:

*nder#tanding the need# o& c$#tomer# and o&&ering them #$periorprod$ct# and #er+ice

>e+eraging technolog to #er+ice c$#tomer# '$ic)l, e&&icientl and

con+enientl

De+eloping and implementing #$perior ri#) management and in+e#tment

#trategie# to o&&er #$#taina%le and #ta%le ret$rn# to o$r policholder#

3ro+iding an ena%ling en+ironment to &o#ter growth and learning &or o$r

emploee#

!nd a%o+e all, %$ilding tran#parenc in all o$r dealing#




52/104

The #$cce## o& the compan will %e &o$nded in it# $n&linching commitment to 5

core +al$e# -- ntegrit, $#tomer Air#t, Bo$ndarle##, wner#hip and 3a##ion.

ach o& the +al$e# de#cri%e what the compan #tand# &or, the '$alitie# o& o$r

people and the wa we wor).

/e do %elie+e that we are on the thre#hold o& an e7citing new opport$nit,

where we can pla a #igni&icant role in rede&ining and re#haping the #ector.

i+en the '$alit o& o$r parentage and the commitment o& o$r team, there are

no limit# to o$r growth.

*ur alues:

+er mem%er o& the 3r$dential team i# committed to 5 core +al$e#:

ntegrit, $#tomer Air#t, Bo$ndarle##, wner#hip, and 3a##ion. The#e

+al$e# #hine &orth in all we do, and ha+e %ecome the )e#tone# o& o$r

#$cce##.

Products

3r$dential ha# a wide arra o& in#$rance plan# that ha+e %een de#igned

with the philo#oph that di&&erent indi+id$al# are %o$nd to ha+e di&&ering

in#$rance need#.

The ideal in#$rance plan i# one that addre##e# the e7act in#$rance need# o&

the indi+id$al that will depend on the age and li&e #tage o& the indi+id$al apart&rom a ho#t o& other &actor#.

Life Insurance India= 9ealth Insurance= 'etirement !olutions

Brochures

1 ancer are

ancer are 3l$#


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6 a#hBa)

4 ri#i# o+er

5 Dia%ete# are

Dia%ete# !##$re Dia%ete#are !cti+e

8 Aore+er>i&e

ealth!##$re 3l$#

10 o#pital are

11 mmediate !nn$it

1 n+e#tShield a#hBa)

16 n+e#tShield >i&e New

14 >i&e$ard

15 >i&e>in) S$per 3en#ion

1 >i&e>in) S$per

1 >i&eStage R3

18 >i&eStage !##$re

1 >i&eTime old

0 >i&eTime 3l$#

1 >i&eStage 3en#ion

>i&eTime S$per 3en#ion

6 (edi!##$re

4 3remier>i&e old

5 3remier>i&e 3en#ion

3$re 3rotect

SmartOid New *>R3

8 SmartOid New *>S3

SmartOid R3

60 Sa+e?N?3rotect


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Life Insurance "lans

>i&e in#$rance prod$ct# a##$re o$r &amil will recei+e &inancial #$pport, e+en

in o$r a%#ence. 3$t #impl, when o$ %$ in#$rance o$ pro+ide o$r &amil

with a #$m o& mone, #ho$ld #omething happen to o$. t th$# permanentl

protect# o$r &amil &rom &inancial cri#e#.

n addition to #er+ing a# a protecti+e co+er, when o$ %$ in#$rance o$ create

a &le7i%le mone-#a+ing #cheme, which empower# o$ to acc$m$late wealth to%$ a new car, get o$r children ed$cational #ol$tion#, and e+en retire

com&orta%l.

Toda, there i# no #hortage o& in+e#tment option# &or a per#on to choo#e &rom.

i+en the plethora o& choice#, it %ecome# imperati+e to ma)e the right choice

when in+e#ting o$r hard-earned mone, and online in#$rance i# an ideal

choice in toda;# technolog dri+en world. B$ing >i&e in#$rance online i# a

wa to ma)e a $ni'$e in+e#tment that help# o$ to meet o$r d$al need# -#a+ing &or li&e?# important goal#, and protecting o$r a##et#.




55/104

Arom an in+e#tor?# point o& +iew, an in+e#tment can pla two role# - a##et

appreciation or a##et protection. /hile mo#t &inancial in#tr$ment# ha+e the

$nderling %ene&it o& a##et appreciation, %$ing li&e in#$rance online get# o$

the $ni'$e rea##$rance o& a##et protection, along with a #trong element o&

a##et appreciation.

/hen o$ %$ li&e in#$rance online the core %ene&it i# that the &inancial

intere#t# o& one;# &amil remain protected &rom circ$m#tance# #$ch a# lo## o&

income d$e to critical illne## or death o& the policholder. Sim$ltaneo$#l,

%$ing li&e in#$rance online gi+e# a #trong in%$ilt wealth creation propo#ition.

The c$#tomer there&ore %ene&it# on two co$nt# and online in#$rance prod$ct#

occ$p a $ni'$e #pace in the land#cape o& in+e#tment option# a+aila%le to a

c$#tomer.

!# o$r li&e #tage and there&ore o$r &inancial goal# change, the in#tr$ment in

which o$ in+e#t #ho$ld o&&er corre#ponding %ene&it# pertinent to the new li&e

#tage. nline in#$rance prod$ct# are the onl in+e#tment option that o&&er

#peci&ic prod$ct# tailor-made &or di&&erent li&e #tage#. Ko$ are th$# en#$red that

the %ene&it# o&&ered to the c$#tomer re&lect the need# o& the c$#tomer at that

partic$lar li&e #tage, and hence en#$re# that the &inancial goal# o& that li&e #tageare met.

n the %a#i# o& which li&e #tage o$ are in and the corre#ponding in#$rance

need#, 3r$dential plan# can %e categori2ed into the &ollowing &o$r tpe#:

d$cation n#$rance 3lan#

/ealth reation 3lan#

3remi$m $arantee plan#

3rotection 3lan#


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9ealth Insurance

ealth in#$rance policie# in#$re o$ again#t #e+eral illne##e# and g$arantee

o$ #ta &inanciall #ec$re #ho$ld o$ e+er re'$ire treatment. The #a&eg$ard

o$r peace o& mind, eliminate all worrie# a%o$t treatment e7pen#e#, and allowo$ to &oc$# o$r energ on more important thing#, li)e getting %etter. >et?#

learn more a%o$t the +ario$# tpe# o& health in#$rance a+aila%le, and what the

%e#t polic &or o$ might %e. ealth n#$rance policie# in ndia - !n +er+iew

There i# #e+eral health in#$rance or medical in#$rance plan# in ndia. The#e

can %e di+ided into the &ollowing categorie# %a#ed on the co+erage o&&ered:

9ospitaliation "lans: The#e health in#$rance plan#co+er o$r e7pen#e# inca#e o$ need to %e ho#pitali2ed. /ithin thi# categor, prod$ct# ma ha+e

di&&erent pao$t #tr$ct$re# and limit# &or +ario$# head# o& e7pendit$re. The

ho#pitali#ation co+erage ma %e reim%$r#ement %a#ed plan# or &i7ed %ene&it

plan#. The#e plan# aim to co+er the more &re'$ent medical e7pen#e#. lic) to

)now a%o$t o$r ho#pitali#ation in#$rance plan 9o#pital arein)ed

Reg$lar 3remi$m *nit >in)ed

SmartOid New *nit >in)ed

Single 3remi$m *nit >in)ed

SmartOid Reg$lar 3remi$m Traditional

$a"in%s 6 Wealth )reation $olutions

Sa+e?n?3rotect i# a traditional endowment #a+ing# plan that o&&er# li&e

protection along with ade'$ate ret$rn#.

a#hBa) i# an anticipated endowment polic ideal &or meeting mile#tone

e7pen#e# li)e a child?# marriage, e7pen#e# &or a child?# higher ed$cation

or p$rcha#e o& an a##et. t i# a+aila%le &or term# o& 15 and 0 ear#.

>i&eTime old i# a $nit-lin)ed plan that o&&er# c$#tomer# the &le7i%ilit and

control to c$#tomi2e the polic to meet the changing need# at di&&erent

li&e #tage#. t o&&er# &$nd option# - 3re#er+er, 3rotector, Balancer, Ale7i

Balanced ($ltiplier, R... and Ale7i rowth.

>i&eStage R3 i# $nit lin)ed plan that pro+ide# o$ with an option o&

li&eccle-%a#ed port&olio #trateg that contin$o$#l re-di#tri%$te# o$r

mone acro## +ario$# a##et cla##e# %a#ed on o$r li&e #tage. Thi# will

help o$ achie+e the right !##et !llocation to meet o$r de#ired &inancial

goal#.


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>i&e>in) S$per i# a #ingle premi$m $nit lin)ed in#$rance plan which

com%ine# li&e in#$rance co+er with the opport$nit to #ta in+e#ted in the

#toc) mar)et.

3remier >i&e old i# a limited premi$m paing plan #peciall #tr$ct$red

&or long-term wealth creation.

n+e#tShield >i&e New i# a $nit lin)ed plan that pro+ide# premi$m

g$arantee on the in+e#ted premi$m# and en#$re# that the c$#tomer

recei+e# onl the %ene&it# o& &$nd appreciation witho$t an o& the ri#)# o&

depreciation.

n+e#tShield a#h%a) i# a $nit lin)ed plan that pro+ide# premi$m

g$arantee on the in+e#ted premi$m# along with &le7i%le li'$idit option#.

>i&eStage !##$re a $nit lin)ed in#$rance plan that pro+ide $pto 450 L o&&ir#t ear premi$m g$arantee on mat$rit, with the additional ad+antage

o& a li&eccle %a#ed port&olio #trateg that allocate# the in+e#tor;# mone

acro## +ario$# a##et cla##e# %a#ed on hi# li&e #tage and ri#) appetite.

etirement $olutions

Aore+er>i&e i# a traditional retirement prod$ct that o&&er# g$aranteed ret$rn# &or

the &ir#t 4 ear# and then declare# %on$#e# ann$all.

>i&eTime S$per 3en#ion i# a reg$lar premi$m $nit lin)ed pen#ion plan

that help# one acc$m$late o+er the long term and o&&er# 5 ann$it

option# 9li&e ann$it, li&e ann$it with ret$rn o& p$rcha#e price, "oint li&e

la#t #$r+i+or ann$it with ret$rn o& p$rcha#e price, li&e ann$it g$aranteed

&or 5, 10 and 15 ear# @ &or li&e therea&ter, "oint li&e, la#t #$r+i+or ann$it

witho$t ret$rn o& p$rcha#e price< at the time o& retirement.

>i&eStage 3en#ion i# a reg$lar premi$m $nit lin)ed pen#ion plan thatpro+ide# o$ with a $ni'$e li&eccle-%a#ed #trateg that contin$o$#l re-

di#tri%$te# o$r mone acro## +ario$# a##et cla##e# %a#ed on o$r li&e

#tage, e+ent$all pro+iding o$ with a c$#tomi2ed retirement #ol$tion.

>i&e>in) S$per 3en#ion i# a #ingle premi$m $nit lin)ed pen#ion plan.

mmediate !nn$it i# a #ingle premi$m ann$it prod$ct that g$arantee#

income &or li&e at the time o& retirement. t o&&er# the %ene&it o& 5 pao$t

option#.

3remier>i&e 3en#ion i# a $ni'$e and con+enient retirement #ol$tion witha limited premi$m paing term o& three or &i+e ear#, to #$it pro&e##ional#




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and %$#ine##men, e#peciall tho#e who re'$ire more &le7i%ilit and

c$#tomi2ation while planning their &inance#.

Premium 'uarantee Plans

The late#t addition to the li&e in#$rance prod$ct port&olio o& 3r$dential i#

the 3remi$m $arantee plan - n+e#tShield >i&e New. 3remi$m $arantee

plan# are the ideal in#$rance-c$m-in+e#tment option &or c$#tomer# who want

to en"o the potentiall higher ret$rn# o& a mar)et lin)ed in#tr$ment, %$t witho$t

ta)ing an mar)et ri#).

*nder the 3remi$m $arantee 3lan# plat&orm, 3r$dential %ring# to o$

the &ollowing prod$ct#:

"lan )ame "lan Type

n+e#tShield >i&e New *nit >in)ed

n+e#tShield a#hBa) *nit >in)ed

3rotection Sol$tion#

>i&e$ard i# a protection plan, which o&&er# li&e co+er at low co#t. t i#

a+aila%le in 6 option# - le+el term a##$rance, le+el term a##$rance withret$rn o& premi$m @ #ingle premi$m.

ome!##$re i# a mortgage red$cing term a##$rance plan de#igned

#peci&icall to help c$#tomer# co+er their home loan# in a #imple and

co#t-e&&ecti+e manner.

'roup Insurance Plans

ne S$re Shot /a Aor !n mploer To Retain i# Team. mploee# the#eda# are con#tantl on the prowl &or H%etter opport$nitie#H. ow then do o$

get them to &oc$# on o$r "o% and #ta committed &or long ten$re#W

$man Re#o$rce e7pert# agree that emploee# wor) with $tmo#t dedication

when the %elie+e their organi2ation tr$l care# a%o$t their well%eing.


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ne wa o& #howing o$r concern &or o$r emploee# i# to #ho$lder the two

re#pon#i%ilitie# the worr a%o$t mo#t: Sec$rit o& and Sa+ing# &or their

&amilie#.

ro$p n#$rance 3lan# &rom 3r$dential ena%le o$ to e&&ortle##l pro+ide

o$r emploee# with %oth, #a+ing# and #ec$rit, #o the can pa## on the

%ene&it# to their lo+ed one#.

Ko$r )ind ge#t$re to #a&eg$ard their &amil?# &$t$re will $ndo$%tedl #er+e a#

great enco$ragement &or o$r emploee#, and the will gladl o&&er o$ their

whole-hearted commitment. Top 6 Rea#on# /h Ko$ Sho$ld n+e#t n

3r$dential?# ro$p n#$rance 3lan# /ith 3r$dential?# ro$p n#$rance

3lan# o$r emploee# get:

ncompara%le &inancial %ene&it# that g$arantee their #a&et and &inancial

#ta%ilit.

So$nd &inancial planning that empower# them to meet their changing

&inancial o%"ecti+e#.

X$alit #er+ice initiati+e# and tran#parenc acro## all operation#.

'roup Insurance $olutions

3r$dential >i&e al#o o&&er# ro$p n#$rance Sol$tion# &or companie#

#ee)ing to enhance %ene&it# to their emploee#.

ro$p rat$it 3lan: 3r$dential >i&e?# gro$p grat$it plan help#

emploer# &$nd their #tat$tor grat$it o%ligation in a #cienti&ic manner

and al#o a+ail o& ta7 %ene&it# a# applica%le to appro+ed grat$it &$nd#.

ro$p S$perann$ation 3lan: 3r$dential >i&e o&&er# a &le7i%le mar)et

lin)ed #cheme that pro+ide# #$%#tantial %ene&it# to %oth emploer# and

emploee#. Both de&ined contri%$tion 9D< and de&ined %ene&it 9DBi&e reali#e# the importanceo& pr$dent retirement planning. /ith thi# in mind, we ha+e de+eloped a




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#$ite o& ann$it prod$ct# that not onl gi+e o$ an income &or li&e %$t al#o

pro+ide o$ option# to match o$r need#. n addition to the ann$itie#

o&&ered to e7i#ting #$perann$ation c$#tomer#, we o&&er immediate

ann$itie# to #$perann$ation &$nd# not managed % $#.

ro$p Term 3lan: 3r$dential >i&e?# &le7i%le gro$p term #ol$tion

help# pro+ide an a&&orda%le co+er to mem%er# o& a gro$p. The co+er

co$ld %e $ni&orm or %a#ed on de#ignationFran) or a m$ltiple o& #alar.

The %ene&it $nder the polic i# paid to the %ene&iciar nominated % the

mem%er on hi#Fher death.

0lexi(le ider 2ptions

3r$dential >i&e o&&er# &le7i%le rider#, which can %e added to the %a#ic

polic at a marginal co#t, depending on the #peci&ic need# o& the c$#tomer.

1. !ccident @ di#a%ilit %ene&it: & death occ$r# a# the re#$lt o& an accident

d$ring the term o& the polic, the %ene&iciar recei+e# an additional

amo$nt e'$al to the rider #$m a##$red $nder the polic. & an accident

re#$lt# in total and permanent di#a%ilit, 10L o& rider #$m a##$red will %e

paid each ear, &rom the end o& the 1#t ear a&ter the di#a%ilit date &or

the remainder o& the %a#e polic term or 10 ear#, whiche+er i# le##er. &

the death occ$r# while tra+elling in an a$thori2ed ma## tran#port +ehicle,

the %ene&iciar will %e entitled to twice the #$m a##$red a# additional

%ene&it.

. ritical llne## Bene&it: protect# the in#$red again#t &inancial lo## in the

e+ent o& #peci&ied critical illne##e#. Bene&it# are paa%le to the in#$red

&or medical e7pen#e# prior to death.

6. /ai+er o& 3remi$m: n ca#e o& total and permanent di#a%ilit d$e to an

accident, the &$t$re premi$m# contin$e to %e paid % the compan till the

time o& mat$rit. Thi# rider i# a+aila%le with SmartOid, >i&eTime 3l$#,

>i&eTime S$per and >i&eTime S$per 3en#ion.

4. ncome %ene&it rider: n ca#e o& death o& the li&e a##$red d$ring the term

o& the polic, 10L o& the #$m a##$red i# paid ann$all to the nominee on

each polic anni+er#ar till the mat$rit o& the rider.




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Types of Insurance "lans D Traditional or %nit Lin$ed ?%LI": %nit Lin$ed

Insurance "lan@

Insurance Plans 7 At a %lance

Broadl, in#$rance plan# can %e di#tinctl di+ided into *>39*nit >in)ed

n#$rance 3lan#< and traditional plan#. ! %rie& detail o& %oth #egment#:

%LI"s ?%nit Lin$ed Insurance "lans@

*>3#, or *nit >in)ed n#$rance 3lan#, ha+e gained high acceptance d$e to

the attracti+e &eat$re# the o&&er. Bene&it# incl$de &le7i%ilit, Tran#parenc,

>i'$idit, and A$nd ption#.

4le6iility

! *>3 o&&er# the c$#tomer an ac$te degree o& &le7i%ilit: the &le7i%ilit to

choo#e the S$m !##$red, and to choo#e the de#ired premi$m amo$nt. *>3#gi+e the c$#tomer the option o& changing the le+el o& 3remi$mFS$m !##$red

e+en a&ter the plan ha# #tarted, and the &le7i%ilit to change a##et allocation %

#witching %etween &$nd# with ea#e.

Transparency

*>3S o&&er a high degree o& tran#parenc, where all charge# in the plan a#

well a# the entire net amo$nt in+e#ted i# made )nown to the c$#tomer. *>3#al#o o&&er the con+enience o& trac)ing o$r in+e#tment per&ormance on a da to

da %a#i#, #o o$ can decide in#tantl where o$ want o$r a##et# allocated.

Li;uidity

! *>3 o&&er# o$ the option o& withdrawing mone a &ew ear# into the plan,

allowing &or the e7igencie# o& li&e. !lternati+el, a *>3 will al#o allow &or

partialF##tematic withdrawal #ho$ld the need ari#e.


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4und *ptions

! *>3 will o&&er o$ a wide choice o& &$nd#, ranging thro$gh e'$it, de%t, ca#h,

or a com%ination o& the three. The c$#tomer i# al#o a&&orded the option o&choo#ing o$r &$nd mi7 %a#ed on o$r de#ired a##et allocation.

Traditional "lans

The#e are the olde#t tpe# o& in#$rance plan# a+aila%le. The#e plan# cater to

c$#tomer# with a low ri#) appetite. Some o& the common &eat$re# o& traditional

plan# are:

1. Stead n+e#tment

(a"or ch$n) o& in+e#ti%le &$nd# are in de%t in#tr$ment#.

Stead and almo#t a##$red ret$rn# o+er the long term.

. Aeat$re#

Death %ene&it i# S$m !##$red Y g$aranteed @ +e#ted %on$#.

elp# in a##et creation a# the are &or a long ten$re.

3remi$m to S$m !##$red ratio# are &i7ed &or each plan and age.

enerall withdrawal# are not allowed %e&ore mat$rit.

!ection 0CCC

-,-%CTI*) I) ',!",CT *4 C*)T'I%TI*) T* C,'TAI) ",)!I*)

4%)-!

91< /here an a##e##e# %eing an indi+id$al ha# in the pre+io$# ear paid or

depo#ited an amo$nt o$t o& hi# income chargea%le to ta7 to e&&ect or)eep in &orce a contract &or an ann$it plan o& >i&e n#$rance

orporation o& ndia &or recei+ing pen#ion &rom the &$nd re&erred to in

cla$#e 96!!B< o& #ection 10, he #hall, in accordance with, and #$%"ect

to, the pro+i#ion# o& thi# #ection, %e allowed a ded$ction in the

comp$tation o& hi# total income, o& the whole o& the amo$nt paid or

depo#ited 9e7cl$ding intere#t or %on$# accr$ed or credited to the

a##e##ee?# acco$nt, i& an< a# doe# not e7ceed the amo$nt o& ten

tho$#and r$pee# in the pre+io$# ear.




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9< /here an amo$nt #tanding to the credit o& the a##e##ee in a &$nd,

re&erred to in #$%-#ection 91< in re#pect o& which a ded$ction ha# %een

allowed $nder #$%-#ection 91


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pro+i#ion# o& thi# #ection #hall ha+e e&&ect a# it &or the word# Hten tho$#and

r$pee#H, the word# H&i&teen tho$#and r$pee#H had %een #$%#tit$ted=

9< The #$m re&erred to in #$%-#ection 91< #hall %e the &ollowing, namel:

. where the a##e##e# i# an indi+id$al, an #$m paid to e&&ect or to

)eep in &orce an in#$rance on the health o& the a##e##ee or on the

health o& the wi&e or h$#%and, dependent parent# or dependent

children o& the a##e##e#=

. where the a##e##e# i# a ind$ $ndi+ided &amil, an #$m paid to

e&&ect or to )eep in &orce an in#$rance on the health o& an mem%er

o& the &amil:

96< 3ro+ided that #$ch in#$rance #hall %e in accordance with a #cheme

&ramed in thi# %ehal& %-

. the eneral n#$rance orporation o& ndia &ormed $nder #ection

o& the eneral n#$rance B$#ine## 9Nationali#ation< !ct, 1 95

o& 1< and appro+ed % the entral o+ernment in thi# %ehal&= or

. an other in#$rer and appro+ed % the n#$rance Reg$lator and

De+elopment !$thorit e#ta%li#hed $nder #$%-#ection 91< o& #ection

6 o& the n#$rance Reg$lator and De+elopment !$thorit !ct, 1

941 o& 1SS 9e'$it lin)ed #a+ing# #cheme#


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$mall sa"in%s schemes

The#e incl$de the p$%lic pro+ident &$nd 933A< and National Sa+ing# erti&icate

9NS


68/104

The other important con#ideration when e+al$ating ret$rn# i# to ad"$#t &or

in&lation.

n other word#, i& o$r in+e#tment generate# a ret$rn o& 8 per cent and in&lation

i# per cent, then o$r in&lation-ad"$#ted ret$rn i# onl one per cent. /hen

in&lation mo+e# into do$%le digit# o$ are act$all ma)ing a negati+e in&lation-

ad"$#ted ret$rn, a# i# happening c$rrentl. Thi# i# a &$ndamental pro%lem with

an in+e#tment prod$ct that o&&er# a &i7ed ret$rn at a time o& high and ri#ing

in&lation.

B contra#t #toc)# are a %etter hedge again#t in&lation e#peciall in the long

r$n. Tho$gh in&lation increa#e# the co#t# o& &irm# it al#o allow# them to charge

a higher price to their c$#tomer# there% protecting pro&it# to #ome e7tent. Thi#

in t$rn mean# that #toc) price# and e'$it-%a#ed prod$ct# can o&&er %etter

protection &rom in&lation o+er a n$m%er o& ear# tho$gh not nece##aril in the

#hort r$n.

/hat a%o$t the element o& timing when it come# to e'$it #cheme#W Aor

in#tance, #toc)# ha+e clearl ta)en a po$nding in the la#t #i7 month#. owe+er

thi# doe#n?t nece##aril mean it?# a %ad time to in+e#t in #toc)#= +al$ation# in

#ome companie# loo) '$ite attracti+e now and o+er a three-ear hori2on o$co$ld #ee decent ret$rn#.

Arom the point o& +iew o& the a+erage in+e#tor it?# pro%a%l %e#t to ta)e timing

o$t o& the pict$re % &ollowing a ##tematic in+e#tment plan which mean# o$

in+e#t a &i7ed amo$nt e+er month.

Small #a+ing# #cheme# and >SS each ha+e their ad+antage# and

di#ad+antage#. Ba#ed on o$r in+e#tment #trateg and partic$larl o$rattit$de toward# ri#) o$ ha+e to choo#e how m$ch to in+e#t in them a# part o&

o$r Section 80 in+e#tment#.

,6planation of Ta6 enefits

3remi$m# paid &or >i&e in#$rance - Ded$ction $nder Section 80


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1< ategor o& a##e##e# allowed ded$ction: ndi+id$al a##e##ee and ind$

*ndi+ided Aamil a##e##e#.

< ligi%le Sa+ing#: 3remi$m# paid or depo#ited % a##e##ee to e&&ect or to

)eep in &orce in#$rance on the li&e o& &ollowing per#on#:

n ca#e o& indi+id$al a##e##ee im#el&Fer#el&, #po$#e, children

o& #$ch indi+id$al

n ca#e o& *A a##e##ee an mem%er

6< 0L limit: & the amo$nt o& premi$m paid in a &inancial ear &or a polic i#

in e7ce## o& 0L o& the act$al capital #$m a##$red, then ded$ction will

%e allowed onl &or premi$m# $pto 0L o& the #$m a##$red.

4< >imit on amo$nt o& ded$ction: Ded$ction will %e re#tricted to in+e#tment#

$pto R# 100,000 in #a+ing# #peci&ied $nder Section 80 9incl$ding li&e

in#$rance premi$m#


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n ca#e o& indi+id$al a##e##ee im#el&Fer#el&, #po$#e,

dependant children and parent#. The condition o& dependenc o&

parent ha# %een remo+ed &rom AK 008-0. n other word#, e+en i&

the parent i# independent, the indi+id$al can pa the premia and

claim the ded$ction.

n ca#e o& *A a##e##ee an mem%er o& *A

6< Ded$ction and $pper limit: The '$ali&ing amo$nt# $nder Section 80D &or

#el&, #po$#e and dependent children i# $pto R#. 15,000F- and additional

ded$ction $pto R#. 15,000F- &or the parent# 9&rom AK 008-0 onward#


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The rates of incomeDta6 for 4

Total Income ?'s/@'ate of Ta6

!enior Citien+omen elo#

EF years*thers

*pto R# 150,000F- Nil Nil Nil

!%o+e R# 150,000F- to180,000F-

Nil Nil 10L

!%o+e R# 180,000F- to5,000F-

Nil 10L 10L

!%o+e R# 5,000 to R#600,000

10L 10L 10L

!%o+e R# 600,000 to R#500,000

0L 0L 0L

!%o+e R# 500,000F- 60L 60L 60L

!urcharge on Income Ta6:

n ca#e where the Total ncome e7ceed# R# 10,00,000, there wo$ld %e a#$rcharge 10L.(arginal relie& i# a+aila%le to a##e##ee who#e income "$#t

e7ceed# R#. 10,00,000.

,ducation Cess on Income Ta6

dc$ation e## L will %e paa%le on the amo$nt o& income ta7 9incl$ding

#$rcharge


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%oth the %a#e polic and rider9#< will %e wai+ed till the end o& the term o& the

rider or death o& the li&e a##$red, i& earlier.

/ai+er o& 3remi$m rider i# a+aila%le with >i&eTime S$per,>i&eTime

3l$#,>i&eTime S$per 3en#ion, Smart Oid New *>R3, >i&e $ard R3, >i&e

$ard /R3.

3remi$m# paid $nder thi# rider are eligi%le &or ta7 %ene&it# $nder Section 80.

Tools 2"er"iew

Asset Allocator

!re o$ an aggre##i+e in+e#tor who want# to ride the e'$it mar)et#W r are

o$ more con#er+ati+e, com&orta%le in+e#ting in a##$red ret$rn prod$ct#W o

thro$gh o$r Ri#) !nal2erto &ind o$t what o$r a##et allocation #ho$ld %e,

)eeping in mind o$r ri#) capacit and o$r ri#) %eha+ior.

Inflation ,rosion inde6

n&lation can ea#il erode the corp$# that we #et a#ide &or o$r po#t-retirement

need#. Thi# ero#ion happen# d$e to the &act that o$r corp$# might not earn an

intere#t that )eep# pace with ri#ing co#t#.

To &ind o$t how in&lation will impact o$r e7pen#e# in the &$t$re, $#e o$r

in&lation inde7 calc$lator to &ind o$t how o$r c$rrent e7pen#e# will grow in the

&$t$re. Ko$ need to enter o$r c$rrent e7pen#e &ig$re# in the n&lation nde7

alc$lator, o$r e7pected rate o& in&lation, and the no. o& ear# in the &$t$re o$

will inc$r the e7pen#e.

"o#er of Compounding

The mo#t power&$l %oo#t o$r mone can get i# time. n+e#ted properl o+er a

long period o& time, mone can grow to man time# it# original amo$nt - the

longer the ten$re o& in+e#tment, the greater will %e the corp$# amo$nt.

The name o& the game i# to in+e#t earl and to in+e#t reg$larl. To &$rther gain

an $nder#tanding o& thi# concept, tr doing o$r own e7periment# with o$r

!imple Compounding Calculator/

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n+e#tment in in#$rance i# an e##ential re'$irement &or one?# &inancial planning

to %e complete. owe+er, the '$ant$m o& in#$rance that one need# i# a

&$nction o& one?# income, a##et#, lia%ilitie# and &$t$re goal#.

*#e the >i&e Gal$e alc$latorto &ind o$t how m$ch in#$rance co+er i# needed

% o$.

Life !tage "rofiler

The ?/heel o& Aort$ne? i# an interacti+e game de+eloped % 3r$dential to

help o$ cho#e the ideal in#$rance #ol$tion. Ba#ed on o$r re#pon#e# to

certain )e '$e#tion#, we will recommend a #$ite o& prod$ct# that will addre##

o$r &inancial and in#$rance need#.

Procedure to o(tain life insurance

Ailling $p the propo#al &orm

The &ir#t #tep in the proce## i# to &ill $p the propo#al &orm where in +ario$#

)ind# o& detail# the propo#er &$rni#he#. The &orm can %e o%tained &rom the >

o&&ice or will %e a+aila%le with in#$rance agent. The &ollowing detail# are

&$rni#hed in the propo#al &orm:

1< Name, addre##, nationalit, occ$pation, nat$re o& d$tie#, name= and addre##

o& the pre#ent emploer, length o& #er+ice, name and addre## o& pre+io$#

emploer, i& an, length o& pre+io$# #er+ice, etc.

< 3lace o& %irth, date o& %irth, di#trict, #tate, proo& o& age, etc.

6< S$m in#$red, period o& premi$m paa%le 9monthl, '$arterl, hal&-earl or

earl


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relating to ed$cational '$ali&ication, a+erage monthl income, #o$rce o&

income, marital #tat$#, h$#%and?# name, hi# income, occ$pation, and hi#

in#$rance polic, etc.

Declaration % the proponent

!t the end, the proponent ha# to ma)e a declaration that the #tatement# gi+en

in the propo#al are correct to the %e#t o& hi# )nowledge and no in&ormation i#

concealed. The propo#al i# the %a#i# o& in#$rance contract when it i# pre#ented

to the >.

!ttachment o& proo& o& age

!ge proo& i# identi&ied &rom the #econdar #chool lea+ing certi&icate. !tte#ted

cop o& thi# certi&icate i# attached with the propo#al &orm &or thi# p$rpo#e. !ge

proo& i# al#o re'$ired to a#certain whether the propo#er i# a ma"or or a minor.

(oreo+er, age proo& i# al#o needed &or determining the premi$m rate.

3re#entation o& propo#al to the agent

The agent, on receipt o& the propo#al chec) it thoro$ghl whether an

important in&ormation i# le&t o$t witho$t &$rni#hing-. & anthing i# le&t o$t. he will

get the #ame &$rni#hed % the propo#er.

n practice, it i# noticed that the agent carrie# the propo#al &orm and

approache# the pro#pecti+e propo#er and get the #ame &$rni#hed with hi# help.

(edical e7amination

The in#$rance agent arrange# &or the medical e7amination o& the propo#er.

(edical e7amination i# cond$cted % the a$thori2ed medical practioner

appointed % the >. The doctor record# hi# remar)# in the propo#al &orm at

the place pro+ided &or thi# p$rpo#e.

n the &ollowing ca#e#F medical e7amination i# not needed:

1< /here the age o& the male propo#er i# %elow 60 ear#, ed$cated and

remained in emploment &or at lea#t one ear. t# #$m a##$red i# %elow




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R# 40F000F-.

< /here the propo#er i# a commi##ioned o&&icer in !rm #er+ice and %elow

45 ear# o& age. i# health i# in ?!? categor and #$m a##$red i# %elow

R#. 50.000F-.

6< /here the propo#er i# a woman leading a &ir#t li&e categor and pa##ed

high #chool or e'$i+alent, age i# %elow 60 ear# and emploed at lea#t a

period o& one ear. The a #$m a##$red i# %elow R# 40F000F-

4< !n ad$lt mem%er %elow the age o& 40 ear# and the #$m a##$red i#

%elow R#. 15F000.

5< n the ca#e o& re-in#$rance o& a per#on who ha# alread in#$red.

Report % the !gent

!&ter the medical report, the agent gi+e# hi# con&idential report with regard to

propo#er?# health condition, ha%it#, &amil hi#tor #o$rce o& income, etc. e

gi+e# hi# report a&ter +eri&ing in&ormation &$rni#hed % the propo#er. The agent

al#o will #tate hi# opinion regarding acceptance or re"ection o& the propo#al.

Scr$tin o& propo#al % the %ranch o&&ice

n completion o& all the a%o+e #tated proce##, the propo#al together with the

medical report and agent con&idential report, etc. i# #$%mitted to the concerned

%ranch o&&ice. The %ranch o&&ice then arrange &or +eri&ication in re#pect o&:

1< Name and addre## o& the propo#er

< Date o& %irth

6< cc$pation

4< n#$red #$m

5< Nominee

< Signat$re o& the propo#e#

< Aamil hi#tor

8< (edical report and agent?# report

!&ter the +eri&ication, i& an #hort coming# are noticed, the propo#er i# a#)ed to

complete the #ame. & the propo#al i# &o$nd in order, the %ranch o&&ice ta)e# the

&$rther #tep# in the matter.




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Depo#iting o& premi$m

The %ranch o&&ice i##$e# &ir#t premi$m notice to the propo#er. n depo#iting

the premi$m mone, the %ranch ta)e# &$rther #tep# in the matter.

Regi#tration o& propo#al

n depo#iting the premi$m, the propo#al i# regi#tered with the >, in the

regi#ter maintained &or thi# p$rpo#e % recording important in&ormation a%o$t

the polic= #$ch a# the name o& in#$red, #$m in#$red, d$ration o& the polic,

ri#), etc. !t the time o& regi#tration, a regi#tration n$m%er i# allotted

incorporating the code n$m%er o& the %ranch where the propo#al i# regi#tered.

Aor e7ample, i& the regi#tration No. 6458, 8 will %e the code n$m%er o& the

%ranch and 645 #hall %e the propo#al n$m%er o& that %ranch.

Sending the propo#al to appropriate department

!&ter the regi#tration o& the propo#al, it i# #ent to the appropriate department. n

ca#e the &inal a$thorit i# in the %ranch o&&ice, the propo#al #hall %e #ent to that

o&&icer in the %ranch o&&ice. therwi#e, it i# #ent to the di+i#ional o&&ice.

Ta)ing &inal deci#ion on the propo#al

n completion o& all the#e #tep#, the &inal deci#ion ta)en % the a$thorit in the

di+i#ional o&&ice, on I3ropo#al Re+iew SlipJ, in +iew o& acceptance o& the

propo#e premi$m paid.

##$e o& acceptance or re'$e#t letter

& the propo#al i# accepted, the intimation regarding acceptance o& the

propo#al i# #ent to the propo#er. therwi#e, a letter o& regret i# #ent.

!cceptance o& the propo#al i# an e+idence o& concl$#ion o& in#$rance contract.

Arom thi# date the ri#) commence#.

##$e o& in#$rance polic

a+ing completed all the re'$ired &ormalitie#F the corporation prepare# the




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in#$rance polic and #end# it to the in#$red. The o+erlea& o& the polic contain#

all term# and condition# o& the polic along with the in#$red?# name, addre##,

#$m a##$red, mode o& pament o& premi$m, etc. The polic %ear the #ea? o&

the > and the #ignat$re o& the competent a$thorit.




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raph Showing 3ercent o& (ar)et Share




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2n the Basis of Premium )ollected:

The li&e n#$rance ind$#tr $nderwrote a premi$m o& R#.8,16,014.01 la)h

d$ring the month o& (arch 005, ta)ing the c$m$lati+e premi$m $nderwritten

d$ring the c$rrent ear 004-05 to R#.5,64,8. la)h. The U1 pri+ate >i&e

n#$rance ompan i.e. ICICI "rudential Life Insurance contri%$ted R#.1,

58,408 9.5 L< &ollowed % Ba"a" !llian2 which contri%$ted R#.8, 001.80

>a)h 96.6L


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raph Showing 3ercent o& 3remi$m ollected




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2n The Basis of No of Policies $old:

3r$dential &irml hold# the n$m%er one po#ition % #elling 146

policie# in the ear 004-05 &ollowed % Tata ! 9884 policie#


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raph Showing No. o& 3olice# Sold B Di&&. ompanie#




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+hat Is Inestment "lan2

Broadl, in#$rance plan# can %e di#tinctl di+ided into *>3# 9in+e#tment plani&eTime S$per polic-a reg$lar-premi$m $nit-

lin)ed polic, which o&&er# potentiall higher ret$rn# that ##tematicall ena%le

o$ to meet o$r long-term &inancial o%"ecti+e#. n addition, >i&eTime S$per

al#o pro+ide# the protecti+e %ene&it o& an in#$rance co+er, which )eep# o$r

&amil #ec$re, alwa#.

>i&etime S$per !t ! lance

(inim$mF(a7im$m ntr !ge 0 ear# to 5 ear#

(a7im$m !ge at 3olic (at$rit 5 ear#

(inim$mF(a7im$m 3olic Term 10 ear# to 5 ear#

3remi$m 3ament Are'$enc (onthl, hal&-earl, earl

(inim$m 3remi$m R#. 18,000 per ann$m

(inim$m S$m !##$red !nn$al 3remi$m 7 TermF. S$%"ect to a




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minim$m o& R#. 1,00,000

Ta7 Bene&it 98in)ed ndowment 3l$#

(et Smart 3l$#

LT! &aa Allian )e# %nit .ain "lus

4eatures LT! )e# %nit .ain "lus

(inim$m ann$al

premi$mR#. 18000 pa R#. 15000 pa

#witche#4 #witche# &ree in a ear @R# 100 i# charged o+er 4#witche#

6 #witche# &ree in a ear @R#. 100 i# charged o+er 6#witche#

3olic admini#trationcharge#

No charge R#. 40 pa

S$rrender +al$e!t the end o& ear 6:- 8L!t the end o& ear 4:- L!t the end o& ear 5:- 100L

!t the end o& ear6:100L

!dditional allocation o&$nit#

+er 4th ear #tarting atthe end o& 4th ear 4Lo&ann$al premi$m

Not applica%le

o+er contin$anceoption

!pplica%le Not applica%le

n the a%o+e compari#on we ha+e #een that li&e time #$per ha+e ad+antage

that it ha+e admini#tration charge# le##, additional allocation o& $nit#, and

co+er contin$ance. !nd the di#ad+antage o& higher minim$m premi$m and

#$rrender +al$e i# le## in &ir#t three ear#.

LT! & aa Allian )e# %nit .ain !uper

4eatures LT! )e# %nit .ain !uper

(inim$m ann$alpremi$m

R#. 18000 pa R#. 5000 paan choo#e di&&erentoption#:Sil+er 5000\]!3\50000

gold 50000\]!3\100000diamond




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100000\]!3\500000platin$m

!3^]500000@a%o+e

#witche#

4 #witche# &ree in a ear @

R# 100 i# charged o+er 4#witche#


R#. 100 i# charged o+er 6#witche#

3olic admin charge# No charge R#. 50 pm



S$rrender +al$e!t the end o& r 6:-8L!t the end o& r 4:-L!t the end o& r 5:-100L

!t the end o& r 6:-0L!t the end o& r 4:-5L!t the end o& r 5:-100L

!dditional allocation o&$nit#

+er 4th ear #tarting at

the end o& 4th ear 4Lo&ann$al premi$m

Not applica%le

Rider# !DBR, BR, /3R

*> !ccidental Death%ene&it, *> accidentalpermanent TotalF3artialdi#a%ilit, *> critical illne##,*> ho#pital ca#h %ene&it


that it ha+e admini#tration charge# le##, additional allocation o& $nit#, andco+er contin$ance option, higher #$rrender +al$e. !nd the di#ad+antage o&

&ewer rider# option and ha+e #i7 &$nd in+e#tment option#.

LT! & 'eliance Mar$et 'eturn "lan

4eatures LT!'eliance mar$et return

plan

(inim$m ann$al

premi$m R#. 18000 pa

R#. 10000 &or reg$lar

premi$m and R#. 5000&or #ingle premi$m

#witche#4 #witche# &ree in a ear @R# 100 i# charged o+er 4#witche#

1 #witch &ree in a ear @R#. 100 i# charged o+er 6#witche#

3olic admin charge# No charge L

S$rrender +al$e!t the end o& ear 6:8L!t the end o& ear 4:L!t the end o& r5:100L

!t the end o& ear 6:-100L

!dditional allocation o&$nit# +er 4th ear #tarting at theend o& 4th ear 4Lo& Not applica%le




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ann$al premi$m

hoice o& &$nd# &$nd option a+aila%le 4 &$nd option#




that it ha+e admini#tration charge# le##, additional allocation o& $nit#, and

co+er contin$ance option, choice o& &$nd option# are more. !nd the

di#ad+antage o& higher minim$m premi$m and le## #$rrender +al$e.

LT! & I). 9igh 5alue "lan

4eatures LT! I). 9igh 5alue "lan

(inim$m ann$al premi$mR#. 18000 pa R#. 50000 pa

#witche#


R# 100 i# charged o+er 4

#witche#

#witche# &ree in a ear @

R#. 100 i# charged o+er

#witche#

3olic admini#tration

charge#No charge

!t inception: R#.1000

&i7ed charge# @

R#.FR#.1000S! YR#. 50

pmRider# !DBR,BR,/3R !DBR

S$rrender +al$e

!t the end o& ear 6:8L

!t the end o& ear 4:L

!t the end o& r 5:100L

!t the end o& r 6:.5L

!t the end o& r 4: L

!t the end o& r 5: 100L

!dditional allocation o&

$nit#

+er 4th ear #tarting at

the end o& 4th ear

4Lo& ann$al premi$m

Not applica%le

hoice o& &$nd# &$nd option# 4 &$nd option#


that it ha+e le## minim$m premi$m, more #witching option#, admini#tration

charge# le##, additional allocation o& $nit#, choice o& &$nd option# are more and

rider# option# are more.

LT! & 9-4C %nit Lin$ed ,ndo#ment "lus

4eatures LT! 9-4C %nit Lin$ed,ndo#ment "lus




91/104

(inim$m ann$alpremi$m

R#. 18000 pa R#. 10000 pa

#witche#4 #witche# &ree in a polic ear@ R# 100 i# charged o+er 4

#witche#

4 #witche# &ree in a policear @ R#. 100 i# charged

o+er 4 #witche#3olic admincharge#

No charge R#. 0 pm

S$rrender +al$e!t the end o& ear 6:8L!t the end o& ear 4:L!t the end o& r 5:100L

!t

mba assignment - final project by mahiuddin shams

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