SALES & MARKETING FOR THE BAJAJ ALLIANZ LIFE INSURANCE CO.

SEARCH FOR THE POTENTIAL CONSULTANTS FOR THE BAJAJ ALLIANZ LIFE INSURANCE CO.

DECLARATION
Declaration

I hereby state that the Summer Internship Report on SALES & MARKETING FOR
THE BAJAJ ALLIANZ LIFE INSURANCE CO.

RAEBARELI. has been carried out by me

under the guidance of Mr. Rajesh Srivastava, .Sa es Ma!a"er #$ Bajaj A ia!%

Li$e I!s&ra!'e C#. Further, it is mentioned that the research data, cited in
the project report are original findings of my own work.

DATE: ANAND PLACE:

SUMIT

MBA (R)

se*
SHOYAB ALAM

ACKNOWLEDGEMENT
I want to thank to those people who helped me in this summer training research project. First of all I would like to express my profound gratitude to the E+.Sa es Ma!a"er #$ Bajaj A ia!% Li$e I!s&ra!'e C#. Rae,are i- Mr. Rajesh Srivastava who gave me this opportunity to do this project. He always remained a wonderful guide and supporter throughout this project. First, pf all I am extremely grateful to Ms. SARIKA MISHRA(Faculty, N ! , "ehradun# for providing me the proper guidance in preparation of this project report. t the end I want to say thanks to all persons involved in this project directly or indirectly.

SUMIT ANAND MBA-III SEM

TABLE OF CONTENTS
1. 1. 2. 3. 4. 5. 6. 7. 8. 1 2 3 4

Executive Summa ! A"#ut Li$e I%&u a%ce Sect# I%'u&t ! Ove vie( C#m)a%! P #$i*e A"#ut P#*icie& O$ Ba+a+ A**ia%, Di&t i"uti#% C-a%%e* Re&ea c- Met-#'#*#.! SWOT A%a*!&i& Fi%'i%.& Rec#mme%'ati#%& C#%c*u&i#% Bi"*i#. a)-! /ue&ti#%%ai e

E0ECUTI1E SUMMAR2
At the present time of cut throat competition in every industry every company want to top the chart and want to show as big as possib e figure of profits in its ba ance sheet. !t is "uite c ear today that at present time the growth of any organi#ation is possib e on y with the he p of hard wor$ing and we focused staffs that are the bac$bone of any organi#ations. !t was my great p easure that ! did my summer training from %a&a& A ian# 'ife !nsurance (o. where ! got to $now that in !nsurance industry the s$i s of the man power matters most and increasing number of !nsurance (onsu tants he p the organi#ation to increase its issuance of po icies which in turn resu t in growth for the organi#ation. )o it is "uite c ear that !nsurance (onsu tant*s matter most for the %a&a& A ian# 'ife !nsurance (o. +y &ob was to create the database for the organi#ation so that the number if !nsurance (onsu tant*s cou d be increased. +y &ob was to approach the individua s who are interested in &oining the organi#ation as !nsurance (onsu tant, within the imitations i$e re ated to age, re ated to "ua ification, and then his-her detai s with the he p of "uestionnaire. ! visited various areas of .aebare i in order to meet different types of peop e.

WHAT IS LIFE INSURANCE

/irst of a we shou d come to $now that what is 'ife !nsurance. 0he different definitions describing ife !nsurance are as12 3!nsurance in which the ris$ insured against is the death of a particu ar person, the insured, upon whose death whi e the po icy is in force, the insurance company agrees to pay a stated sum or income to the beneficiary. 'ife !nsurance pays a specified sum to the beneficiaries upon the death of the insured. !t is genera y used to provide cash to your fami y in the event of your death. 0here are severa types of ife insurance who e ife insurance provides a ifetime of protection as ong as you pay the premiums to $eep the po icy active. 0hey a so accrue a cash va ue and thus offer a savings component. 0erm ife insurance provides protection on y during the term of the po icy and the po icies are usua y renewab e at the end of the term. !nsurance on human ives inc uding endowment benefits, additiona benefits in event of death or dismemberment by accident or accidenta means, additiona benefits for disabi ity, and annuities4.

LIFE INSURANCE INDUSTR2 IN INDIA

+any may not be aware that the ife insurance industry of !ndia is a s o d as it is in any other part of the wor d. 0he first !ndian 'ife !nsurance (ompany was the 5rienta ife !nsurance (ompany, which was started in !ndia in 1818 at 6o $ata. A number of p ayers 7over 258 in ife and about 188 in non2 ife9 main y with regiona focus f ourished a across the country. :owever, the ;overnment of !ndia, concerned by the unethica standards adopted by some p ayers against the consumers, nationa i#ed the industry in two phases in 1<56 7 ife9 and 1<72 7non2 ife9. 0he insurance business of the country was then brought under two pub ic sector companies, 'ife !nsurance (orporation of !ndia 7'!(9 and ;enera !nsurance (orporation of !ndia 7;!(9. =ith such a arge popu ation and the untapped mar$et area of this popu ation !nsurance happens to be a very big opportunity in !ndia. 0oday it stands as a business growing at the rate of 15228 percent annua y. 0ogether with ban$ing services, it adds about 7 percent to the country*s ;>?. !n spite of a this growth the statistics of the penetration of the insurance in the country is very poor. @ear y 88A of !ndian popu ations are without 'ife !nsurance cover and the :ea th !nsurance. 0his is an indicator that growth potentia for the insurance sector is immense in !ndia. !t was due to this immense growth that the regu ations were introduced in the insurance sector and in continuations 3+a hotra (ommittee4 was constituted by the government in 1<<3 to eBamine the various aspects of the industry. 0he (ommittee recommended throwing open the sector to private p ayers to usher in competition and bring more choice to the consumer. 0he ob&ective was to improve the penetration of insurance as a percentage ;>?, which remains ow in !ndia even compared to some deve oping countries in Asia. 0he $ey e ement of the reform process was ?articipation of overseas insurance companies with 26A capita . (reating a more efficient and competitive financia system suitab e for the re"uirements of the economy as the main idea behind the reform.

A BRIEF HISTOR2

0he origin of insurance is very o d. 0he time when we were not even bornC was has sought some sort of protection from the unpredictab e ca amities of the nature. 0he basic urge in man to secure himse f against any form of ris$ and uncertainty ed to the origin of insurance. 0he insurance came to !ndia from D6C with the estab ishment of 0he 5rienta !nsurance (orporation in 1818. the !ndian 'ife !nsurance company act 1<12 was the first statutory body that started to regu ate the 'ife !nsurance business in !ndia. %y 1<56 about 154 !ndian, 16 foreign and 75 provident firms were been estab ished in !ndia. 0hen the centra government too$ over these companies and as a resu t the '!( was formed. )ince then '!( has wor$ed towards spreading 'ife !nsurance and bui ding a wide networ$ across the ength and the breath of the country. After the ibera i#ation the entrance of foreign p ayers has added to the competition in the mar$et. 0he ;enera !nsurance business in !ndia, on the other hand, can trace its roots to the 0riton !nsurance (ompany 'td, the first ;enera !nsurance (ompany estab ished in the year 1858 in (a cutta by the %ritish. !n 1<57 ;enera !nsurance (ounci , a wing of the !nsurance Association of !ndia, frames a code of conduct for ensuring fair conduct and sound business practices. !n 1<72 the ;enera !nsurance %usiness in !ndia with effect from 1 st Eanuary 1<73. it was after this that 187 insurers ama gamated and grouped into four companies vi#. the @ationa !nsurance (ompany 'td, the @ew !ndia Assurance (ompany 'td, the 5rienta !nsurance (ompany 'td. ;!( incorporated as a company.

INSURANCE SECTOR REFORMS

!n 1<<3, +a hotra (ommittee headed by former /inance )ecretary and .%! ;overnor was formed to eva uate the !ndian industry and give its recommendations. 0he committee came

up with the fo owing ma&or provisions12 1 5 6 ?rivate (ompanies with a minimum paid up capita of .s. 1 bn shou d be a owed to /oreign companies may be a owed to enter the industry in co aboration with the 5n y one state eve 'ife !nsurance (ompany shou d a ow to operate in each state. .eforms were initiated with the passage of !nsurance .egu atory and >eve opment Authority 7!.>A9 %i in 1<<<. !.>A was set up as an independent regu atory authority, which has put in p ace regu ations in ine with g oba norms. enter the industry. domestic companies.

IRDA 3 0he !.>A since its incorporation as a statutory body has been framing regu ations and
registering the private sector insurance companies. !.>A being an independent statutory body has put a framewor$ of g oba y compatib e regu ations.

INSURANCE MARKET IN INDIA

%y any yardstic$, with about 288 mi ion midd e c ass househo ds, presents a huge untapped potentia for p ayers in the insurance industry. )aturation of mar$ets in many deve oped economies has made the !ndian mar$et even more attractive for g oba insurance ma&ors. =ith the per capita income in !ndia eBpected to grow at over 6A for the neBt 18 years and with improvement in awareness eve s, the demand for insurance is eBpected to grow at an attractive rate in !ndia. An independent consu ting company, the +onitor ;roup has estimated that the 'ife !nsurance mar$et wi grow.

WINDS OF CHANGE
.eforms have mar$ed the entry of many of the g oba insurance ma&ors into the !ndian mar$et in the form of &oint ventures with !ndian companies. )ome of the $eys names are A!;, @ew For$ 'ife, A ian#, ?rudentia , )tandard 'ife, )un 'ife (anada and 5 d +utua . 0he entry of new p ayers has re&uvenated the erstwhi e monopo y p ayer '!(. =hich has responded to the competition in an admirab e fashion by aunching new products and improving service standards.

Ma 4et Ex)a%&i#% 3
0here has been an overa eBpansion in the the p ayers. 0he scope for eBpansion is sti attempt to tap the rura mar$ets. mar$et. 0his has been possib e due to the p ayers are improved awareness eve s than$s to the arge number of advertising campaigns aunched by a un imited as virtua y a concentrating on arge cities and towns G eBcept by '!( to an eBtent there was no significant

Ne( P #'uct O$$e i%.& 3

0here has been a p ethora of new p ayers, main y from the stab e of their internationa partners. (ustomers have tremendous choice from a arge variety of products from pure term insurance to unit2 in$ed investment products. (ustomers are offered unbund ed products with a variety of benefits as riders from which they can choose. +ore customers are buying products

and services based on their true needs and not &ust traditiona money2bac$ po icies, which is not considered very appropriate for ong2term protection and savings. :owever, there are sti some $ey new products yet to be introduced G e.g. hea th products.

Cu&t#me Se vice 3
@ot uneBpected y, this was one area that witnessed the most significant change with the entry of new p ayers. 0here is an attempt to bring in internationa best practices in service and operationa efficiency though use of atest techno ogies. Advice and need based se ing is emerging through much better trained sa es force and advisors. 0here is improvement in response and turnaround times in specific areas such as de ivery of first po icy receipt, po icy document, premium notice, fina maturity payment, sett ement of c aims etc. :owever, there is a ong way to go and various customer surveys indicate that the standards are sti be ow customer eBpectation eve s.

C-a%%e*& #$ Di&t i"uti#% 3

0i two years bac$, the on y mode of distribution of ife insurance products was through Agents. =hi e agents continue to be the predominant distribution channe , today a number of innovative a ternative channe s are being offered to customers. )ome of them are bancassurance, bro$ers, the internet and direct mar$eting. 0hough it is too ear y to predict, the wide spread of ban$ branch networ$ in !ndia cou d ead to bancassurance emerging as a significant distribution mechanism. 0he introduction of private p ayers in the industry has added to the co ors in the du industry. 0he initiatives ta$en by the private p ayers are very competitive and have given immense competition to the on time monopo y of the mar$et '!(. )ince the advent of the private p ayers in the mar$et the industry has seen new and innovative steps ta$en by the p ayers in this sector. 0he new p ayers have improved the service "ua ity of the insurance. As a resu t '!( down the years have seen the dec ining phase in its career. 0he mar$et share was distributed among the private p ayers. '!( mar$et share has decreased from <5A 728822839 to 82A 728842859.

T-e $#**#(i%. c#m)a%ie& -ave t-e ma 4et &-a e #$ t-e *i$e i%&u a%ce i%'u&t !5

I!s&ra!'e C#*.a!/
%I& I&I&I *rudential -ajaj llian. H"F& 1tandard %ife 1-I %ife -irla 1un %ife !ax New 5ork %ife6 7 7 I8 viva 9! :otak !ahindra IN8 ;yasa <eliance !et%ife

Mar0et Share (Fig. in $#

'(.)) ((.+, './0 2.+' (.3( (.)4 /.43 /.'4 /.34 /.30 /.,' /.+' /.2)

Market Share of Life Insurance Companies as of May 2006

CURRENT SCENARIO OF THE INSURANCE INDUSTR2 IN INDIA

!ndia with about 288 mi ion midd e c ass househo d shows a huge untapped potentia for p ayers in the insurance industry. )aturation of mar$ets in many deve oped economies has made the !ndian mar$et even more attractive for g oba insurance ma&ors. 0he insurance sector in !ndia has come to a position of very high potentia and competitiveness in the mar$et. !nnovative products and aggressive distribution have become the say of the day !ndians, have a ways seen 'ife !nsurance as a taB saving device, are now sudden y turning to the private sector that are providing them new products and variety for their choice. 'ife !nsurance industry is waiting for a big growth as many !ndian and /oreign companies are waiting in the ine for the green signa to start their operations. 0he !ndian (onsumer shou d be ready now because the mar$et is going to give them a array of products, different in price, features and benefits. :ow the customer is going to ma$e his choice wi determine the future of the industry.

CUSTOMER SER1ICE
(onsumers remain the most important centre of the insurance sector. After the entry of the foreign p ayers the industry is seeing a ot of competition and thus improvement of the customer service in the industry. (omputeri#ation of operations and updating of techno ogy has become imperative in the current scenario. /oreign p ayers an bringing in internationa best practices in service through use of atest techno ogies. 0he one time monopo y of the '!( and its agents are now going through a through revision and training programs to catch up with the other private p ayers.

DISTRIBUTION CHANNELS

0i date insurance agents sti remain the main source through which insurance products are so d. 0he concept is very we estab ished in the country i$e !ndia but sti the increasing use of other sources is imperative. !t therefore ma$es sense to oo$ at we G ba anced, a ternatives channe s of distribution. '!( has a ready we channe to have an advantage. At present the distribution channe s that are avai ab e in the mar$et are1 1 1 2 3 4 >irect )e ing (orporate Agents ;roup )e ing %ro$ers and (ooperative )ocieties %ancassurance 0o ma$e a these channe s a success the companies have to be very a ert and s$i fu to $now how to use these channe s in a proper way. %ancassurance is on of the most upcoming channe s of distribution. estab ished and have an eBtensive distribution channe and

presence. @ew p ayers may find it eBpensive and time consuming to bring up a distribution

BANCASSURANCE
!ndia has an eBtensive ban$ networ$ estab ished over the years. =hat !nsurance companies have to do is to &ust ta$e advantage of the customer*s ong2standing trust and

re ationships with ban$s. 0his is a mutua y beneficia situation as ban$s can a so eBpand their range of products on offer to customers, whi e the insurance company wi a so earn profits from the eBposure. Another advantage is that ban$s, with their networ$ in rura areas, he p to fu fi rura and socia ob igations stipu ated by the I%&u a%ce Re.u*at# ! a%' Deve*#)me%t Aut-# it! 6IRDA7 recent y. !nsurance companies shou d see "a%ca&&u a%ce as a too for increasing their mar$et penetration in !ndia. !t is a so good for the one who sees bancassurance in terms of reduced price, high "ua ity product and de ivery at doorsteps. Hverybody is a winner here. 0he creation of bancassurance operations has made an important impact on the financia services industry at arge. 0his is though a new concept but it has gained a ot of importance in the industry at present and has a great future.

PRODUCT INNO1ATION
(ustomers have tremendous choice from a arge variety of products from pure term insurance to unit2 in$ed investment products. (ustomers are offered unbund ed products with a variety of benefits as riders from which they can choose. +ore customers are buying products and services based on their true needs and not &ust traditiona money2 bac$ po icies, which is not considered very appropriate for ong2term protection and savings.

RURAL MARKETING
.ura !ndia seems to have an appetite for mobi e phones, computers, and cars and to add to it we have insurance. !n !ndia with the private p ayers having entered into the insurance industry, the eBpected eBp osion in &ob opportunities may not actua y happen but for them the

catchments area is the opportunities in the rura !ndia. !n !ndia the insurance business can be said to be 3a marathon, not a sprint4. 0his is because of the nature of the business being ong term. :owever it seems that they if not anything, are on y increasing their spending, though on y out of the capita . As insurance companies go more and more rura in search of business, there wi be opportunities in the rura sector. A ready Dnited !ndia 0he .ura consumer is now eBhibiting an increasing propensity for !nsurance products. A research conducted eBhibited that the rura consumers are wi ing to do e out anything between .s. 3,588 and .s. 2,<88 as premium each year. !n the !nsurance the awareness eve for 'ife !nsurance is the highest in rura !ndia, but the customers are a so aware about motor, accidents and catt e insurance. According to a study near y one third said that they had purchased some $ind of insurance with the maBimum penetration s$ewed in favor of ife insurance. 0he study a so pointed out the private companies have huge tas$ to p ay in creating awareness and creditabi ity among the rura popu ace.

INFORMATION TECHNOLOG2 AND INSURANCE

!n the insurance industry today, there is a c ear trend away from se ing a broad range of products to a arge vo ume of customers in a one2 si#e2fits2a manner. !nstead of focusing on their different products ines as si os 7i.e., ife, property and casua ty etc9 insurers are oo$ing for ways to offer high y targeted insurance products that are tai ored to the individua s customers with the highest propensity to buy them. !nsurance industry is a data2rich industry, and thus, there is desire need to use the data for trend ana ysis and persona i#ation. =ith increased competition among insurers, service has become a $ey issue. ?eop e today don*t want to accept the current va ue propositions, they want persona i#ed interactions and they oo$ for more and more features and add ones and better service. 0oday managing the customer inte igent y is very critica for the insurer especia y in the very competitive environment. (ompanies need to app y different set of ru es and treatment strategies to different customer segments. =ith the eBp osion of =ebsite and greater access to direct or po icy information, there is a need to deve oping better techni"ues to give customers a tru y persona i#ed eBperience. ?ersona i#ation he ps organi#ations to reach their customers with more impact and to generate

new revenue through cross se ing and up se ing activities. 0o ensure that the customers are receiving persona i#ed information, many organi#ations are incorporating $now edge database2repositories of content that typica y inc ude a search engine and ets the customers ocate the a document and information re ated to their "ueries of re"uest for services. (ustomers can hereby use the $now edge database to manage their products or the company information and invoices, c aim records, and histories of the service in"uiry. 0hese products a so may be ab e to earn from the customer*s previous $now edge database and to use their information when determining the re evance to the customers search re"uest. 0he insurance sector remains a very competitive mar$et and those companies that are ab e to best uti i#e their data and provide their customer with the most persona i#ed options wi have the distinct competitive advantage.

MERGERS AND AC/UISTIONS

0his is an era of mergers and ac"uisitions. ?rivate companies inc uding +@(*s are ama gamating the wor d over to get more competitive edge. (urrent y, the genera insurance industry has been opened up. 0he insurers are doing enough to raise the eve of ris$ awareness or are they mere y content to compete in the mar$ets organi#ed and estab ished. 0he private p ayers in the future wou d have to turn their attention to wor$ing in the unorgani#ed and under served mar$ets. =hat is i$e y to happen is that the private p ayers wou d continue to s$im the profitab e segments of the a ready organi#ed business in the urban areasI 0he time has a ready come for the government of !ndia to eva uate the performance of private companies. :owever it is high time for the government to rea i#e that importance of merging the pub ic sector genera insurance companies into sing e entity. 0he recent scenario ca s for a better performance from part of each of the pub ic sector insurance companies against each other. 0he resu t what we see is the undercutting to retain or wrest business and "uoting an uneconomica rate of premium. =hi e this a ows one of the ?ub ic )ectors (ompany to win a business form

another in this manner. 0he others suffer a oss and the resu tant effect is a canniba i#ation with a fa in the average premium of the pub ic sector itse f. 0he purpose of having four companies a subsidiaries of Ge%e a* I%&u a%ce

C# )# ati#% #$ I%'ia 6GIC7 8 Nati#%a* I%&u a%ce C#m)a%!9 Ne( I%'ia A&&u a%ce C#m)a%!9 O ie%ta* I%&u a%ce C#m)a%!9 a%' T-e U%ite' I%'ia I%&u a%ce C#m)a%!: at the time of nationa i#ation was to have competition among themse ves G in service and products at the same price. @ow with rea competition coming in with most of the g oba insurance p ayers setting footprints here, it is fe t that the time for merger has come and to en&oy the benefits if the si#e. !t is to be stated that si#e does matter in insurance business. A over the wor d*s mergers and ac"uisitions in the ris$2underwriting sector is common. 0he benefits if the four insurance companies merge wi be enormous. 0he merged entity wi en&oy higher underwriting and ris$ retention capacityC increase in reinsurance premium, reduction in reinsurance outf ow, hea thy so vency margins, setting right the asset2 iabi ity mismatch and reduction in cost. 0he oss of profitab e business in view of undeserved competition among the pub ic sector companies is hampering the subsidi#ation of socia insurance inc uding the motor third party iabi ity 70?'9. !t is thus c ear that it is good for the pub ic sector companies to merge immediate y when they are sti strong, est a merger becomes inevitab e ater after the independent pub ic sector companies fai one after another.

STRATEGIC ALTERNATI1ES
!f one ana yses the history of growth of the insurance industry since reforms, it is mar$ed by a 2 round growth of a p ayers. +ore or ess a p ayers have aggressive y recruited and trained advisors, appointed agents, aunched new products, improved customer service standards and revamped-eBpanded their distribution networ$s. Hvery p ayer wou d i$e the customers to

be ieve that its service standards are the best or that its agents are the most informed and ethica . !n other words, each company is trying to be Jeverything to everybody*. )ome p ayers &ustify the above strategy on the basis that the !ndian mar$et is huge and it can accommodate everybody. )ti , in a mar$et where it is difficu t to distinguish onese f sufficient y on service or any other parameter to be ab e to charge a premium, it wi this is ris$y. =hi e there is room for a few sca e p ayers with a finger in every pie, it is profitab e for the p ayers to focus on different segments to survive and thrive in a mu ti2firm open environment. =hi e each company has to choose its own uni"ue positioning based on its uni"ue strengths. ead to unmitigated price competition to the detriment of a p ayers. !n the insurance industry where arge amounts of capita are re"uired,

1a iet!-"a&e' P#&iti#%i%.
0his type of positioning is based on varieties in products and services rather than

customer segments. !t is a sensib e strategy for those companies who have distinctive advantages or strengths in offering certain products and services. !n the insurance industry too, it is possib e to achieve a uni"ue position by focusing on certain category of products. 0hrough its superior fund management capabi ities, the insurance company can de iver better returns on it investment2 in$ed products and thereby for itse f a eadership position in this segment. 0hen there is the entire category of pension products, which is wide y touted to have immense growth potentia in !ndia due to imminent pension reforms. !t is possib e to achieve profitab e positioning by focusing and eBce ing in on y pension products.

Nee'& 8"a&e' P#&iti#%i%.

0his is the most common y understood positioning and is based on the different needs of

different groups of consumers. 0his can be done successfu y if a company has uni"ue strengths to service a group of customer needs better than others. 0he insurance needs of young fami y with sma chi dren wi be "uite different from that

of a fami y in which the income2earner is c ose to retirement. :owever, in !ndia most of the 'ife !nsurance companies have a wide variety of products of different customer needs and there is no company focusing on y on a particu ar customer needs.

Acce&&- "a&e' P#&iti#%i%.

?ositioning of customers can a so be done by the way they are accessib e that is different

groups of customers may be accessib e in different ways even though they may have simi ar needs. Access is typica y a function of customer sca e. 0here is eBce ent opportunity in the insurance industry to emp oy access2based positioning by targeting the rura insurance sector. 0he rura mar$et for 'ife !nsurance is very different from the urban mar$et in terms of needs, income eve s, distribution, penetration of media and so on. HBcept for '!(, no other p ayer has paid any attention or focus on the rura sector. (ontrary to common perception it is a big opportunity as emphasi#ed repeated y by such eminent strategies i$e C5K5P a-*a'5 .ura mar$et can be a high y profitab e position if one is ab e to carefu y p an.

CHOOSING THE RIGHT STRATEG2

0he right strategic choice is not a matter of positioning choice a one. !t is the configuration of the entire va ue chain of the company through a different set of activities to de iver uni"ue va ue to consumers. 0he set of activities cover a upstream and downstream activities, from the se ection of the product miB. )ome 'ife !nsurance companies focusing on rura mar$ets have adopted innovative means of distribution. !nstead of appointing agents as is done typica y, they have used ;ramseva$s in different vi ages across the country to promote 'ife !nsurance and act as their sa es arm. )o we can conc ude that, the si#e of the mar$et has grown and the si#e of the insurab e popu ation in !ndia is indeed vast and the eBisting p ayers have managed to cover about one2 fourth of it. 0he fa ing interest rates, the co apse of many sma Gtime financia institutions, the scope for entering re ated areas i$e ban$ing and pensions in a bid for synergy and the promise of

the e2commerce are some of the other opportunities $noc$ing at the doors of the insurance ma&ors. A number of web sites are coming up on insurance, a few financia maga#ines eBc usive y devoted to insurance and a so a few training institutes being set up hurried y. +any of the universities and management institutes have a ready started courses in insurance. 'ife insurance has today become a mainstay of any mar$et economy since it offers p enty of scope for garnering arge sums of money for ong periods of time. A we regu ated 'ife !nsurance industry which moves with the times by offering its customers tai or2made products to satisfy their financia needs is, therefore, essentia if we desire to progress towards a worry2free future.

COMPAN2 PROFILE

ABOUT BA;A; ALLIAN< LIFE INSURANCE

Mi&&i#%3 As a responsib e customers focused mar$et eader, we sti strive to understand the
insurance needs of the consumers and trans ate it into affordab e products that de iver va ue for money.

1i&i#%3
) ) ,

0o be the first choice insurer for customers. 0o be the preferred emp oyee for staff in the insurance industry. 0o be the number one insurer for creating shareho der va ue.

SAM GHOSH, who was the (H5 of %a&a& A ian# ear ier has ta$en over as country +anager and is a so the (H5 of %a&a& A ian# 'ife !nsurance (ompany.

Ba+a+ A**ia%, Li$e I%&u a%ce C#m)a%! Limite'

%a&a& A ian# 'ife !nsurance (o. 'td is a &oint venture between two wor d and A ian# A;, one of the wor d*s argest insurance companies. eading

cong omerates2, and %a&a& Auto, one of the biggest two and three2whee er manufacturers in the

Ba+a+ A**ia%,e Li$e I%&u a%ce

7 1 2 !s the fastest growing private ife insurance company in !ndia. (urrent y have over 388888 satisfied customers. :ave (ustomer care centers in 156 cities with 28888 !nsurance (onsu tant providing the

finest customer service.

5ne of !ndia*s eading private ife insurance companies.

Ba+a+ A**ia%, Ge%e a* I%&u a%ce C#m)a%! Limite'

%a&a& A ian# ;enera !nsurance (ompany 'imited is a &oint venture between %a&a& Auto 'imited and A ian# A; of ;ermany. %oth en&oy a reputation of eBpertise, stabi ity and strength. %a&a& A ian# ;enera !nsurance received the !nsurance .egu atory and >eve opment Authority 7!.>A9 certificate of .egistration 7.39 on +ay 2 nd, 2881 to conduct ;enera !nsurance business 7inc uding :ea th !nsurance business9 in !ndia. 0he (ompany has an authori#ed and paid up capita of .s.118 crores. %a&a& Auto ho ds 74A and A ian# ho ds the remaining 26A. A;, ;ermany. !n its first year of operations the company has ac"uired the @5. 1 status among the private non2 ife insurers. As on 31 st +arch 2883, %a&a& A ian#e ;enera !nsurance maintained its eadership position by garnering a premium income of .s.388 (rores. %a&a& A ian#e a so became one of the few companies to ma$e a profit in its first fu year of operations. %a&a& A ian# made a profit after taB of .s.<.6 crores. %a&a& A ian#e today has a networ$ of 48 offices spread across the ength and breadth of the country. /rom )urat to ) i iguri and Eammu to 0hiruvananthapuram, a the 38 offices are interconnected with the :ead 5ffice at ?une. !n the first ha f of the current financia year, 2884285, %a&a& A ian# generated a ) emium i%c#me #$ R&5=>? c # e&9 achieving a growth of 84A and registered a 52A growth in @et profit of .s. 28 (rores over the ast year for the same period. !n the financia year 2883284, the premium earned was .s.488 (rores, which is a &ump of 68A and the profit #oomed by 125A to .s. 21.6A (rores.

S-a e-#*'e & @ P #m#te &

Ba+a+ Aut# Limite'

%a&a& Auto 'imited is the argest manufacturer of two and three2whee ers in !ndia and a so one of the argest manufacturers in the wor d. %a&a& Auto has been in operation for over 55 years. As a promoter of %a&a& A ian# ;enera !nsurance (ompany 'td., %a&a& Auto has the fo owing to offer1 1 1 2 Kast distribution networ$. 6now edge of !ndian consumers. /inancia strength and stabi ity to support the insurance business

A**ia%, AG9 Ge ma%!

A ian# ;roup is one of the wor dLs eading insurers and financia services providers. /ounded in 18<8 in %er in, A ian# is now present in more than 78 countries with over 177,888 emp oyees. At the top of the internationa group is the ho ding company, A ian# A;, with its head office in +unich. A ian# ;roup provides its more than 68 mi ion customers wor dwide with a comprehensive range of services in the areas of 1 1 2 ?roperty and casua ty insurance, 'ife and hea th insurance, Asset management and ban$ing.

!n fisca year 2885, A ian#Ls tota revenues amounted to some 188.< bi ion euros. At the end of 2885 A ian# ;roup had more than 1.26 tri ion euros in assets under management. 5f this, 743 bi ion euros were assets managed for third parties.

Hi&t# ! #$ A**ia%,
>ocumenting and researching its corporate history is part and parce of the corporate cu ture of A ian# A;. 0he A ian# (enter for (orporate :istory devotes itse f to these tas$s. As a fre"uent y used information center, it has evo ved into the companyLs M iving memoryM.

G*#"a* P e&e%ce
A ian# ;roup is present on every continent and has companies and offices in about 78 countries. +ore information about our ocations throughout the wor d is avai ab e by moving the cursor over the wor d map.

Bu&i%e&& Fie*'&
P #)e t! @ Ca&ua*t! I%&u a%ce
=hen it comes to property and casua ty insurance, A ian# is number one in ;ermany. A ian# a so ran$s as one of the wor dLs eading g oba industria ris$ insurers.

Li$e @ Hea*t- I%&u a%ce

!n ife and hea th insurance, A ian# ;roup is among the top companies in Hurope. ?rivate and corporate retirement provision is emerging as a ma&or mar$et

A&&et Ma%a.eme%t @ Ba%4i%.

A ian# ;roupLs asset management activities are integrated under one roof at A ian# ; oba !nvestors. =ith >resdner %an$, the A ian# ;roup has aid a broad foundation in order to address c ientsL needs on the investment mar$et. A ian# A; is in the business of ;enera 7?roperty N (asua ty9 !nsuranceC 'ife N :ea th

!nsurance and Asset +anagement and has been in operation for over 118 years. A ian# is one of the argest g oba composite insurance with operations in over 78 countries. /urther, the ;roup provides .is$ +anagement and 'oss ?revention )ervices. A ian# has insured most of the wor d*s argest infrastructure pro&ects 7inc uding :on$ong Airport and (hanne 0unne between D6 and /rance9, further A ian# insures the ma&ority of the fortune 588 companies, besides being a arge industria insure, A ian# has a substantia portfo io in the commercia and persona ines sector, using a wide variety of innovative distribution channe s.

A**ia%, AG -a& t-e $#**#(i%. #$ #$$e C#m)a%! Lt'53

1 1 2 3 4

Ba+a+ A**ia%, Ge%e a* I%&u a%ce

)et up and running of ;enera insurance operations @ew and improved internationa products 5ne of the wor d*s eading insurance companies +ore than 788 subsidiaries and 2 ac emp oyees in over 78 countries wor dwide ?rovides insurance to a most ha f the /ortune 588 companies

A Pa t%e &-i) Ba&e' #% S!%e .!

%a&a& A ian# ;enera !nsurance (ompany offers technica eBce ence in a ;enera and :ea th !nsurance as we areas of

as .is$ +anagement. 0his partnership successfu y

combines %a&a& Auto*s in2depth understanding of the oca mar$et and eBtensive distribution networ$ with the g oba eBperience and technica eBpertise of the A ian# ;roup. As a registered !ndian !nsurance (ompany and a capita base of .s.118 crores, the company is1 /u y icensed to underwrite a management contro by A ian# A; ines of genera insurance business inc uding hea th with

A"#ut Ba+a+ A**ia%, Li$e I%&u a%ce3

%a&a& A ian# 'ife !nsurance (ompany has deve oped insurance so utions that cater to

every segment and age2income profi es. !ts products inc ude !nvest ;ain 7a uni"ue ife insurance

p an where sustenance of income is combined in the same p an that a so pays a ump sum9, (ash ;ain 7+oney %ac$9, (hi d ;ain7(hi dren*s p an where sustenance of income is combined in the same p an that a so pays a um sum9, (ash ;ain 7+oney %ac$9, (hi d ;ain 7(hi dren*s ? an9, .is$ care 7?ure 0erm9, 'ife 0ime (are 7who e 'ife9, term (are 7term with return of premium9, )warna Kishranti 7.etirement ? an9, ?rotector 7+ortgage term insurance p an9, Dnit;ain 7Dnit 'in$ed =ho e of 'ife ? an9 and Dnit ;ain )ing e ?remium. %a&a& A ian# 'ife !nsurance is poised for an acce erated growth in the mar$et and has a ready become the fastest growing private ife insurance company in !ndia. %a&a& A ian# 'ife !nsurance has a wide pan !ndia presence of office networ$ in 156 citied of the country and is aided with a strong and trained Agency networ$ of over 28888 agents. %a&a& A ian# has a so forged strong %anc assurance and (orporate Agency re ationship and continues to bui d on new tie2ups for fast trac$ growth and deep mar$et penetration. %a&a& A ian# 'ife !nsurance has aunched a s ew of need2based products to cater to each varied needs of the customer. (urrent y %a&a& A ian# 'ife !nsurance has a product portfo io of 1< products and more need2based products are in the pipe ine.

Ba+a+ A**ia%, .e%e a* I%&u a%ce3 AB? )e ce%t ) #$it I%c ea&e

%a&a& A ian# ;enera !nsurance (ompany 'imited is a &oint venture company between %a&a& Auto 'td., !ndia*s eading manufacturer of two and three whee er vehic es and the A ian# ;roup. %a&a& A ian# ;enera !nsurance offers technica eBce ence in a areas of genera and hea th insurance and ris$ management. 0he partnership successfu y combines %a&a& Auto*s eBtensive understanding of the oca mar$et and eBpansive distribution with A ian# ;roup*s g oba eBperience and technica eBpertise. %a&a& A ian# ;enera !nsurance is head"uartered in ?une and has a wide networ$ of 48

offices spanning the country. A the offices are fu y networ$ed. 0he company received the !.>A registration in may 2881 Ctoday, it a ready has a vast range of 45 products to suit its corporate and retai customers. 0he company has a so pioneered in uni"ue forms of ris$ cover. !n the year 288322884, the company garnered a premium income of approBimate y 4.8 bi ion .upees 786 mi ion Huros9 with a profit after taB of 228 mi ion .upees 73.< mi ion Huros9C it so d 1.2 mi ion po icies. =ith this resu t, it achieved a net profit growth of 125 percent, gross written premiums &umped by over 68 percent.

A**ia%, Ba+a+ C-a%.e' It& Name T# Ba+a+ A**ia%, Li$e I%&u a%ce
A ian# %a&a& 'ife !nsurance (o. 'td., the fastest growing private ife insurance co. today announced that it has changed its corporate name to %a&a& A ian# 'ife !nsurance (o. 'td, effective from August 83, 2884. 0he change in company name comes in con&unction with research findings from eBisting customers, business associates, prospective customers and other sta$eho ders indicates higher comfort eve and ease of reca ing %a&a& name first and then A ian#, and hence the name %a&a& A ian#. %a&a& A ian# ;enera !nsurance (ompany 'imited and %a&a& A ian# 'ife !nsurance (ompany 'imited wi now have a common ogo and branding which wi he p in increasing our visibi ity and fami iarity, which wi create a much arger awareness and a greater mind share. 0he new ogo incorporates the new %a&a& Auto ogo. (ommenting on this occasion +r. )am ;hose +anager, A ian# and (H5, %a&a& A ian# 'ife !nsurance said, we are not only acquiring a new name, but have put in motion a new level of energy and commitment to delivering the best products. The name change coupled with aggressive strategic market initiatives to reach service customers better will give us an unbeatable position in the insurance market in this country and both Life and General companies together can unleash the industry.# %a&a& A ian# 'ife !nsurance recent y aunched over 188 sate ites branches, new ife and non2 ife group products, which has he ped %a&a& A ian# 7former y $nown as A ian# %a&a&9 to og in ower of !ne" and be the leader in the insurance

.s.188 (r. ;ross =ritten ?remium 7;=?9 in the first 188 days of this financia year and has eaped to 2nd position as per !.>A figures ending Eune 84, from its 7 th position at the end of ast financia year. %a&a& A ian# 'ife !nsurance has a so brought in the $ey eBecutives, to infuse greater thrust, new ideas, efficiency and professiona ism to impart state of the art servicing to the customers across the ength and breadth of the country.

CORE COMPETENCIES AT BA;A; ALLIAN< LIFE INSURANCE T-e Ba+a+ A**ia%, Di$$e e%ce
1 1 2 3 %usiness strategy a igned to c ients* needs and trends in !ndia and g oba economy industry !nternationa y eBperienced core team, ma&ority with oca bac$ground /ast, decentra i#ed decision ma$ing 'ong2term commitment to mar$et and c ients

T u&t

At %a&a& A ian#, they have rea i#ed that the customer see$s an insurer whom he-she can trust. %a&a& A ian# 'imited is trusted name for over 55 years in the !ndian mar$et and A ian# A; has over 118 years of g oba eBperience in financia services. 0ogether they are committed to provide the customer with time tested and trusted financia so utions that provide the customer a the security he-she need for their investments. And moreO

U%'e ( iti%. P-i*#&#)-!

0heir underwriting phi osophy focused on1 1 1 Dnderstanding the customer*s needs Dnderwriting what we understand

2 3

+eeting the customer*s re"uirements Hnsuring optima coverage at owest cost

C*aim& P-i*#&#)-!

0he %a&a& A ian# team fo ows a service that aims at ta$ing the anBiety out of c aims processing. 0hey pride themse ves on a friend y and open approach. 0hey are focused towards providing the customer a hass e free and speedy c aims processing. 0heir c aims phi osophy is to1 1 1 2 %e f eBib e and sett e fast Hnsure no c aim fi e to be seen by more than 3 peop e (hec$ processes regu ar y against the g oba A ian# 5?HP 75perationa HBce ence9

methodo ogy

Cu&t#me O ie%tati#%
At %a&a& A ian#, the guiding principa s are customer service and c ient satisfaction. A the efforts are directed towards understanding the cu ture, socia environment and individua insurance re"uirements2 so that they can cater to a the customer*s varied needs.

Ex)e ie%ce' a%' Ex)e t Se vici%. Team

%a&a& A ian# is driven by a team of eBperienced peop e who understand !ndian ris$s and

are supported by the necessary internationa eBpertise re"uires to ana yses and assess them service engineers ocated in every ma&or city.

Su)e i# Tec-%#*#.!
1 !n order to ensure speedy and accurate processing o the customer*s needs, they have estab ished wor ds c ass techno ogy, with renowned insurance software, which networ$s a our offices and intermediaries 1 2 Dsing the =eb, po icies can be issued form any office across the country for retai products Dni"ue, user friend y software deve oped to ma$e the process of issue of po icies and

c aims sett ement simp er 7e.g. on ine insurance of marine po icy certificate9

U%iCue F# m& #$ Ri&4 C#ve

1 1 2 3 )pecia ?A cover for Amarnath Fatris :ousing oan cover for peop e, who are sudden y unemp oyed /i m insurance Hvent management cover

Ri&4 Ma%a.eme%t 8 T-ei Ex)e ti&e

0heir service methodo ogy is tried, tested and ?roven the wor d over and invo ves1 1 1 2 3 4 5 .is$ identification1 !nspection .is$ ana ysis1 ?ortfo io review and gap ana ysis. .is$ retention .is$ 0ransfer1 0o an insurer as we as reinsurer 7as re"uired9 (reation of need based products 5ngoing dia ogue and proactive y

PRODUCTS OF BA;A; ALLIAN< LIFE INSURANCE

LIFE INSURANCE POLICIES

LIFE LONG GAIN

0he %a&a& A ian# 'ife gain ? an comes with a host of features to a ow customer to have the best of a words G regu ar income for customer and the added benefits of providing for oved ones too. 0his is the perfect p an to ta$e care of ongoing and future fami y eBpenses i$e debts, eBpenses on chi dren, iving eBpenses, etc. !t can a so ta$e care of unforeseen eBpenses i$e accidents, i ness. :ospita i#ation etc. and provides a fami y with a safety net.

H#( '#e& t-e )*a% (# 4D

0he premiums paid are invested in the 'ife ong ;ain /und 7based on the a ocation rate9 and units are a ocated depending on the offer price of units for the fund. 0he va ue of the po icy is the bid va ue of units that a customer ho ds in the fund. 0he ife insurance cover charges are deducted through month y cance ation of units and the fund administration charge and fund management charge are priced in the unit va ue.

Be%e$it& avai*a"*e u%'e t-e )*a%

1

Deat- Be%e$it3 !n the case of unfortunate premature death the beneficiaries are entit ed
)um Assured ess partia withdrawa s

to the greater of 3

0he bid va ue of units

!f the age of the insured person is ess than 7 or above 78, then the bid va ue of unit is paid.

Gua a%tee' Su viva* Be%e$it&3

;uaranteed )urviva %enefits are avai ab e under this po icy. %a&a& A ian# 'ife !nsurance wi pay, by cance ation of units in the account of the po icy, 3A of the )um Assured every year after the premium payment are over ti the termination of the po icy. 0his guaranteed amount is payab e every year provided a premiums have been paid and no partia withdrawa were made, the guaranteed surviva benefit wou d be 3A 7)um Assured ess partia withdrawa 9 for the subse"uent po icy years. !f the partia withdrawa s made are e"ua to the )um Assured, then the guaranteed surviva benefit wi become ni and funds in the account wi be avai ab e to the customer for fu -partia withdrawa s as and when a customer needs them.

Matu it! Be%e$it&3

5n the ife assured attaining age 188, the bid va ue of unit in the fund wi be paid out and the po icy wi terminate.

Fu** Wit-' a(a*3

'ife ong ;ain offers the customer the f eBibi ity of the withdrawa s by surrendering a his units, anytime after 3 fu years* premiums paid. 0he fu withdrawa s are paid out at the bid va ue of units. 5n fu withdrawa the po icy wi terminate. 4

Pa tia* Wit-' a(a*3

'ife ong ;ain a ows the customer to ma$e partia withdrawa s anytime after a the premiums are paid. 0his gives the customer the i"uidity and option to ta$e out additiona money over and above the guaranteed surviva benefits, as and when re"uired. !n case of partia withdrawa , a minimum withdrawa amount is .s.1888-2. !n the case of a partia withdrawa , the subse"uent ;uaranteed )urviva %enefits wi be 3A of 7)um Assured ess partia withdrawa s made9.

Ke! Featu e&

1 1 2 3 ;uaranteed death benefits =ho e ife protection with on y 18 or 15 years of contributions. ;uaranteed surviva %enefits that pays 3A of the )um Assured every year after the ?rovision for fu and partia withdrawa s.

premium payments are over

Be%e$it&
1 1 2 3 4 >eath benefits ;uaranteed )urviva %enefits +aturity %enefits /u =ithdrawa s ?artia =ithdrawa s

UNIT GAIN PLUS

=ith %a&a& A ian# Dnit ;ain ? us, A customer can invest in one ife insurance p an that can ta$e care of a changing need s. %a&a& A ian# Dnit ;ain ? us 5ffers the uni"ue option of combining the protection of ife insurance with the attractive prospects of investing in securities. A person can choose the investment funds that he wants to invest his money, providing an opportunity to have a direct sta$e in the performance of the financia mar$et. (ustomer a so benefits from attractive taB advantages and can protect oved ones against unfortunate events. his-her changing re"uirements throughout their ife. 0his p an has been designed to provide them with maBimum f eBibi ity, so that they do not have to worry about their

H#( '#e& t-e )*a% (# 4D

0he premiums paid are invested in fund- funds of customer*s choice 7depending on the a ocation rate9 and units are a ocated depending on the price of units that the customer ho ds in the fund-funds. 0he insurance cover and administration charges a deducted through cance ation of units, 0he /und +anagement (harge is priced in the unit va ue. Mi%imum Sum A&&u e' E ? time t-e a%%ua* ) emium5 Maximum Sum A&&u e' E ! t time& a%%ua* ) emium5

T-e Five $u%'& #$$e e' a e a& u%'e 3

a9

ECuit! I%'ex Fu%' 3 0he investment ob&ective of this /und is to provide capita

appreciation through investment in e"uities. 0he p an is eBpected to match the returns given by Ni$t! I%'ex #$ t-e Nati#%a* St#c4 Exc-a%.e5 0his fund wi invest at east 85A in e"uities and maBimum 15A in debt and cash.

b9

ECuit! P*u& Fu%' 3 0he investment ob&ective of this /und is to provide capita

appreciation through investment in se ect e"uities stoc$s that have the potentia for high capita appreciation. 0his fund wi invest at east 85A in e"uities and maBimum 15A in debt and cash instruments.

c9

De"t P*u& Fu%' 3 0he investment ob&ective of this /und is to provide accumu ation of

income through investment in high "ua ity fiBed income securities i$e G-Sec&, and c# )# ate 'e"t ate& AA and above. 0his fund wi be invested fu y in >ebt !nstruments and money mar$et instruments.

d9

Ba*a%ce' P*u& Fu%' 3 0his fund is a fund of funds. 0he investment ob&ective of this

fund is to provide a ba anced investment between ong2term capita appreciation and current income through investment in the U%it& #$ Ba+a+ A**ia%,F& ECuit! I%'ex a%' De"t P*u& Fu%'&5 0he ba anced fund wi invest 38A to 58A in the e"uity indeB fund and 58A to 78A in the debt p us fund.

Ca&- P*u& Fu%' 3 0he investment ob&ective of this ? an is to have a fund that guarantees
invested capita through investments in i"uid money mar$et and short2term instruments i$e (ommercia ?apers, (ertificate of >eposits, money mar$et, +utua /unds, %an$ />s etc. 0he price of units in this fund is guaranteed not to go down.1885 of this fund wi be invested in money mar$et instruments. 0he price of the units in this fund is guaranteed never to go down.

F*exi"i*itie& 8 t# ma%a.e cu&t#me i%ve&tme%t&

%a&a& A ian# offers the f eBibi ity to manage the investments. !nitia y, the customer can a ocate the premium into the 5 funds that are avai ab e in a proportion of his-her choice. )ubse"uent y, depending on the performance of funds, customer can switch between funds and a so change the a ocation of premium to various funds. 0hey a ow the customer three switches every po icy year sub&ect to a mi%imum &(itc-i%. am#u%t #$ R&5 ?9>>>G- or the fund va ue,

whichever is ower. 0he customer can a so change the proportion of premium a ocation to various funds at each po icy anniversary.

U%matc-e' F*exi"i*it! 8 t# &uit& t-e cu&t#me F& c-a%.i%. eCui eme%t&

%a&a& A ian# Dnit ;ain ? us offers unmatched f eBibi ity to suit the po icy according to the customer*s re"uirements.

F*exi"i*it! I% P emium Pa!me%t 3 0he customer has the f eBibi ity to decide how

ong he-she wishes to pay the premiums and when he wants to cash out the po icy benefits. (ustomer may choose to cash out the po icy benefits at one shot or do it as and when you re"uire cash through partia surrender of units.

F*exi"i*it! t# I%c ea&e t-e Sum A&&u e' 3

0he (ustomer have the option to

increase the )um Assured without any medica tests every 3 rd year up to 4 times. 0he "uantum of increase wou d be 25A of the origina )um Assured or .s 1,88,888-2 whichever is ower. !f the customer does not eBercise an option when it is due, it cannot be carried forward. !f the age is es than 18 years at the start of po icy, a 4 increments wi be avai ab e from age 18. Apart from eBercising the options to increase the )um Assured without medica tests, he-she can increase the )um Assured any time. )ub&ect to medica underwriting 7avai ab e up to age 689. !n either case, the )um Assured after increase must be e"ua to or ess than the maBimum )um Assured avai ab e foe the premium eve chosen. 0he customer shou d give notice of increase in death benefit 15 days before the year y po icy anniversary.

F*exi"i*it! t# 'ec ea&e t-e Sum A&&u e' 3 0he customer can decrease the )um

Assured 7in mu tip es of 18889 at any time to suit their changing needs. 0he sum Assured, after decrease, must be at east 5 times the annua premium. After a decrease subse"uent increases wi be sub&ect to underwriting.

F*exi"i*it! t# Pa! T#) u)& 3 0he customer may have received a bonus or some ump sum

money. 0he customer can use that to increase his-her investments in their po icy.<8A of any amount paid as top2up is a ocated to their funds.

F*exi"i*it! t# i%c ea&e t-e *eve* #$ Re.u*a P emium Pa!me%t 3 0he

customer*s earnings grow over time, and so does their savings potentia . =ith %a&a& A ian# Dnit gain ? us, the customers wi have the f eBibi ity to increase their regu ar premium amount at any time.

A&&u e' P #tecti#% eve% i$ t-e cu&t#me

mi&&e& )a!me%t #$ t-ei

) emium& 3 %a&a& A ian# Dnit ;ain ? us provides the customer with the uni"ue features of
continued protection even if they forget to pay their premiums. After payment of three fu years premiums, when premiums due are not paid, the po icy wi stay in force with fu benefits so ong as there are enough units avai ab e for charging the (ost of !nsurance and Additiona %enefits after deducting a app icab e charges.

Im)# ta%t Detai*& #$ t-e HBa+a+ A**ia%, U%it Gai% P*u&F P*a%
1 1 2 3 4 +inimum Age at Hntry1 87.is$ commences at age 7, and ceases after age 789 +aBimum Age at Hntry1 68. 0he minimum age at entry for a additiona benefits is 18 years. 0he maBimum age at entry for a additiona benefits is 58 years. A additiona benefits are avai ab e ti age 65.

P emium Pa!me%t M#'e

/or the customer*s convenience, A ian# have provided 3 regu ar premium payment modes that can be Fear y, :a f Fear y, and Quarter y. 0hey a so offer a month y premium payment mode with sa ary deduction schemes. !n addition, the customer a so has the option to pay top2ups to increase his-her investments. 0he minimum premium is .s.15888-2 for the Annua +ode, .s.7588-2 for :a f Fear y, .s.3758-2 for Quarter y, and .s.1588-2 for the +onth y +ode. 0he minimum top2up premium is .s.5888-2.

Pa tia* a%' Fu** Wit-' a(a*&

Dnit;ain ? us offers the fu f eBibi ity of fu as we as partia withdrawa s by surrendering units, anytime after 3 fu years premium are paid. 0he surrenders are paid put at the va ue of units, and there is no surrender pena ty on partia or fu withdrawa s after fu 3 years premiums are paid.

Ke! Featu e&

1 1 2 3 4 ;uaranteed death benefit (hoice of 5 investment funds with f eBib e investment management1 you can change Attractive investment a ternative to fiBed2interest securities. ?rovision for fu -partia withdrawa s any time after three fu year*s premiums is paid. Dnmatched f eBibi ity2 to match your changing needs.

funds at any time.

Be%e$it&
1 1 >eath %enefits (ash withdrawa option

Te m Ca e
0his p an not on y offers the customer ife insurance cover at a ow cost, but a so provides for return of premiums on maturity. 0he premiums returns at maturity wi be e"ua to the sing e premium or the sum tota of e"uiva ent annua premiums of the Hconomy ?ac$ 7eBc uding eBtra premiums charged if any9. !n case of premature death the po icy term, the fu sum Assured wi be paid to the nominee.

H#( '#e& t-e )*a% (# 4D

0he IBa+a+ A**ia%, Te m ca eJ ? an offers the customer the convenience of choosing between two premium payment options. 1 1

Re.u*a P emium Pa!me%t 3 ?remium payment throughout the se ected term. Si%.*e P emium Pa!me%t 3 5ne time premium payment for the se ected term at

commencement. Apart from covering the ris$ of natura death, this p an a so provides the customer the option to choose up to 5 additiona benefits. 0he customer can se ect a specific combination of additiona benefits best suited to his-her needs, avai ab e in 4 attractive pac$ages to choose from.

!.

Ec#%#m! 3 0his is the basic p an, which is avai ab e for both the regu ar and sing e P #tect 3 0his pac$ comes with the fo owing 3 in2bui t additiona benefits 3

premium payment options. !.

a7 c7

Accidenta death %enefit. ?ermanent 0ota -?artia >isabi ity %enefit

"7 Accidenta

=aiver of ?remium %enefit 7in case of accidenta permanent tota disabi ity9

0he ?rotect ?ac$ is avai ab e with the regu ar premium payment option on y.

!!!.

Hea*t- 3 0his pac$ comes with the fo owing 2 in Gbui t additiona benefits 3
a7 (ritica ! ness %enefit.

"7 :ospita cash %enefit. 0he hea th ?ac$ is avai ab e with the regu ar premium
payment option on y.

!K.

T#ta* 3 0his pac$ comes with the fo owing 5 in2bui t additiona benefits 3
c7 Accidenta >eath %enefit. '7 Accidenta ?ermanent 0ota - ?artia >isabi ity %enefit.

e7 =aiver of ?remium %enefit 7in case of accidenta permanent tota disabi ity9 $7 (ritica ! ness benefit

.7 :ospita (ash %enefit

0he 0ota ?ac$ is avai ab e with the regu ar premium payment option on y.

Be%e$it& 3
1 1 2 3 4 5 6 Accidenta >eath %enefit Accidenta ?ermanent 0ota -?artia >isabi ity %enefit =aiver of premium %enefit (ritica ! ness %enefit 0aB %enefits )urrender 'oans

LOAN PROTECTOR
0he %a&a& A ian# 3'oan ?rotector4 p an is a mortgage term insurance p an that covers the outstanding principa amount of a oan. !t is an economica way to protect the fami y from the burden of repayment of the oan in case of death of the oaner. 0he p an is designed to pay a sum insured that wi be e"ua to the outstanding principa amount of the oan due.

H#( '#e& t-e )*a% (# 4D

0he IBa+a+ A**ia%, P #tect# J ? an offers the convenience of choosing between two premium payment options.

!.

Re.u*a P emium Pa!me%t 3 ?remium payment imited to approBimate y 2-3rd of

oan tenure, whi e coverage continues for the fu tenure of the oan.

!!.

Si%.*e P emium Pa!me%t 3 5ne time premium payment covering the customer for

the fu tenure of the oan.

;#i%t Li$e Avai*a"i*it!

0he (ustomer has the option to cover the co2app icant of the oan under this p an. Dnder this option, both ives wi be covered and the death benefit wi be payab e in case of death of either ife. 0he po icy terminates on death of either ife.

Da!& #$ G ace
!n case of non2payment of premiums, a grace period of 38 days wi be a owed for the year y, ha f year y and "uarter y modes 715 days for month y mode9. After that the po icy wi apse.

Reviva* O$ t-e P#*ic!

!t is possib e to revive a po icy that has apse due to non2payment of premiums within 5 years from the date of apse. 0he reviva wi be effected sub&ect to underwriting. !n case of &oint ife, reviva wou d be sub&ect to underwriting on both ives.

Ge%e a* Exc*u&i#%
=ithin 15 days from the date of receipt of the po icy, the customer have the option to review the terms and conditions and return the po icy, if the customer disagree to any of the term and conditions, stating the reasons for his-her ob&ections. 0he customer wi be entit ed to a refund of the premium paid, sub&ect on y to a deduction of a proportionate ris$ premium for the period on cover and eBpenses incurred on medica eBamination and stamp duty charges.

Be%e$it& 3
1 1 2 >eath %enefit ?remium ?ayment mode 0aB benefits

)urrender va ues- paid up va ues

CHILD GAIN
0a$ing care of a chi d is perhaps the most important &ob a parent can have. !t is but natura that a person wou d i$e to give his-her best, and therefore, this is the time when carefu financia p anning can he p them to fu fi the aspirations that the customers have for his-her chi dren.

H#( '#e& t-e )*a% (# 4D

0he IBa+a+ A**ia%, C-i*' Gai%J so utions he p the customer to en&oy the &oys of parenthood responsibi ity, with the reassurance of a secure future for their chi d. (ommon features in the 4 options of %a&a& A ian# 3(hi d gain4 )o utions.

!.

Limite' P emium Pa!me%t Te m =hich means that the premiums are payab e ti

the customer*s chi d attains age 18 years5

!!.

T-e cu&t#me F& c#%t i"uti#%& . #( "! (a! #$ c#m)#u%'e' a%%ua*

"#%u&e&9 which wi be paid to him with the first guaranteed payout 7po icy anniversary
fo owing age 18 of your chi d9, for in2force po icies. !n addition to the annua bonuses, a termina bonus may a so be paid. !!!. 0he customers are a so e*i.i"*e $# Tax "e%e$it& u%'e Secti#% KK a%' Secti#% A> 6A> D7

#$ t-e I%c#me Tax Act5

!K.

A&&u i%. 2#u C-i*'F& Futu e !n an uncertain wor d, the prime interest of your chi d

cannot be &eopardi#ed in any way. =hich is why the Ba+a+ A**ia%, has bui t in some added benefits in a their p ans to protect the interests of your chi d*s future, by counter insuring you2 the po icyho der.

P emium&
/or the customer*s convenience they have provided three P emium Pa!me%t M#'e& can be 2ea *!9 Ha*$ !ea *! # /ua te *!5 0hey a so offer a M#%t-*! P emium Pa!me%t M#'e under sa ary deduction schemes.

Su e%'e
0hey offer the customer the choice of surrendering the po icy provided three fu years premium have been paid 70wo years for premium terms of 5 and 6 years9. 0he guaranteed minimum surrender va ue is 38A of a premiums paid eBc uding the first year premium and eBc uding the premiums for premium waiver benefit and /ami y !ncome benefit and additiona benefit opted for. 0he guaranteed minimum surrender va ue after the premium payment term wi be the discounted va ue of the outstanding insta ment payments discounted at 18 A p.a. rate of interest.

L#a%&
'oans are not avai ab e with Ba+a+ A**ia%, IC-i*' Gai%J so utions.

A? 'a!& F ee L##4 Pe i#' 3

=ithin 15 days from the date of receipts of the po icy, the customer have the option to review the terms and conditions return the po icy, if he-she disagree to any of the terms and conditions, stating the reasons for his-her ob&ections. 0he customer wi be entit ed to a refund of the premium paid, sub&ect on y to a deduction of proportionate ris$ premium for the period on cover and the eBpenses incurred on medica eBamination and stamp duty charges.

Exc*u&i#%&
0he >eath (over is sub&ect to the fo owing HBc usion 1

)uicide within one year from commencement of ris$, whether sane or not this product brochure gives the sa ient feature on y. 0he re evant po icy document is the conc usive evidence of the contract, and provides in detai a the conditions. HBc usion re ated to each of p ans under the Ba+a+ A**ia%, IC-i*' Gai%J S#*uti#%&5

IN1EST GAIN
!t ta$es on y a moment to ma$e promises and a ifetime to $eep them. 6eeping promises made to your oved ones is not &ust a responsibi ity, but a commitment that you have to ive up to. =hen you promise to see your fami y through thic$ and thin you need to ma$e sure that you have p anned for a the eventua ities that may befa on them. Fou need to be prepared that even if there ever is an instance that you are not there with them you have saved enough to see them through their entire ife.

Acci'e%ta* Deat- Be%e$it 3

Accidents are a ways sudden and sometimes fata . Fou can*t essen the emotiona shoc$,

but you can certain y soften the financia one. IBa+a+ A**ia%, Acci'e%ta* Deat- Be%e$itJ gives the oved ones something to start with after the permanent oss of income by paying an account e"ua to )um Assured. 7)ub&ect to a maBimum of .s. 58,88,888-2 under a po icies with %a&a& A ian# ta$en together9.

Acci'e%ta* Pe ma%e%t T#ta*GPa tia* Di&a"i*it! Be%e$it 3

Accidents are unpredictab e and so are the conse"uences. 0hey may ead to a disabi ity G

partia or tota . 0his benefit provides a financia cushion against such misfortunes. Fou wi get 58A of the )um Assured in case of partia disabi ity and 188A in case of tota disabi ity. 7)ub&ect to a maBimum of .s. 25,88,888-2 for partia and .s. 58,88,888-2 for tota disabi ity under a po icies with Ba+a+ A**ia%, ta$en together9.

Waive #$ P emium Be%e$it 3

An accident may ead to permanent tota disabi ity, imiting one*s abi ity to earn. IBa+a+

A**ia%, Waive #$ P emium Be%e$itJ is a he ping hand when one needs it most. !t waives off a future premiums whi e $eeping the va uab e ife insurance cover a ive, thus enab ing you to ive up to your commitments.

C itica* I**%e&& Be%e$it 6CI7 3

)ome i nesses are critica . 0hey not on y a ter one*s ife*s pattern but a so resu t in a

financia drain. IBa+a+ A**ia%, C itica* I**%e&& "e%e$itJ softens the impact on the fami y by paying out the (ritica ! ness %enefit under the p an immediate y, whi e other po icy benefits continue 7eBc uding :ospita (ash %enefit9. =e cover 11 critica i nesses. 0he customer have the f eBibi ity of choosing (ritica ! ness cover up to the basic )um Assured se ected by you 7+inimum .s. 58,8889

H#&)ita* Ca&- Be%e$it 6HC7 3

0he worry of sett ing hospita bi s 7room charges9 adds to the trauma of hospita i#ation.

IBa+a+ A**ia%, H#&)ita* Ca&- Be%e$itJ reduces this financia burden and he ps recovery with peace of mind.

F*exi"i*it! i% C#ve a.e 3

A %a&a& A ian#, they be ieve ! offering benefits and not &ust products. 0hey rea i#e that

customers are uni"ue and their needs for insurance vary with time. 0hey therefore offer the customer the f eBibi ity of inc usion of coverage or eBc usion of coverage at each po icy anniversary, sub&ect to conditions re ating to such inc usions and eBc usion. IC#m) e-e%&ive Acci'e%t P #tecti#%J can be inc uded and eBc uded at each po icy anniversary. /ami y !ncome %enefit, (ritica ! ness benefit and :ospita (ash %enefit can be ta$en at inception on y. (! and :( can be reduced or eBc uded subse"uent y at any po icy anniversary. 5nce reduced or eBc uded, they cannot be increased or inc uded subse"uent y.

I%c ea&e I% i&4 C#ve a.e

Hvery added responsibi ity in a person*s ife ca for increase in his-her ris$ cover. %a&a&

A ian# provide the customer the option to increase coverage up to 585 of the basic )um Assured

on each of the fo owing happy moments in their ife 1 1 1 2 Four +arriage. 0he %irth of your /irst (hi d. 0he %irth of the )econd (hi d.

I0his additiona

coverage is not sub&ect to underwriting4

Ba+a+ A**ia%, Ca&- Gai% P*ati%um 3 Quadruple Sum Assured + Bonuses

8

C-#ice O$ Te m&
6eeping the customer*s convenience in mind, %a&a& A ian# offers the customer the

widest range of terms 1 15, 28, 25,and 38 years.

<

A''iti#%a* P #tecti#% F# T-e Cu&t#me %ee' T-ei Fami*!

0he customers have the option to add the fo owing additiona benefits. ?roviding tota

protection against uncertainties.

a7 Fami*! I%c#me Be%e$it 6FIB7

0he D timate ?rotection /or your oved 5nes. 0he

customer can se ect the uni"ue /ami y !ncome %enefit /rom %a&a& A ian# that ensures tota financia protection for their oved ones. !n case of death or accidenta tota permanent disabi ity, a guaranteed month y income 1A of the )um Assured 712A per annum9 is paid ti the end of the po icy term or at east for a period of 18 years, whichever is higher.

"7 C#m) e-e%&ive Acci'e%t ) #tecti#% 3

case of an accident. !t comprises of 1

This benefit provides comprehensive cover in

Acci'e%ta* Deat- Be%e$it

Accidents are a ways sudden and sometimes fata . Fou can*t essen the emotiona shoc$, but

you can certain y soften the financia one. 3%a&a& A ian# Accidenta >eath %enefit4 gives the oved ones something to start after the permanent oss of income by paying an amount e"ua to the )um Assured. 7)ub&ect to a maBimum of .s 58,88,888-2 under a po ices with %a&a& A ian# ta$en together9.

Acci'e%ta* Pe ma%e%t T#ta*G Pa tia* Di&a"i*it! Be%e$it

Accidents are unpredictab e, and so are the conse"uences. 0hey may ead to a disabi ity G

partia or tota . 0his %enefits provides a financia cushion against such misfortunes. Fou wi get 58A of the )um Assured in case of partia disabi ity. 7)ub&ect to a maBimum of .s. 25,88,888-2 for partia .s. 58,88,888-2 for tota disabi ity under a po icy with %a&a& A ian# ta$en together9.

Waive #$ P emium Be%e$it

An accident may ead to permanent tota disabi ity, imiting one*s to earn. 3%a&a& A ian#

=aiver of ?remium %enefit4 is a he ping hand when one needs it most. !t waives off a future premiums whi e $eeping the va uab e ife insurance cover a ive, thus enab ing you up to your commitments.

c7 C itica* I**%e&& Be%e$it 6CI73 )ome i

nesses are critica . 0hey not on y a ter one*s ife*s

pattern but a so resu t in a financia drain. 3%a&a& A ian# (ritica ! ness %enefit4 softness the impact on the fami y by paying out the (ritica ! ness %enefit under the p an immediate y, whi e other po icy benefits continue 7eBc uding :ospita (ash %enefit9. =e cover 11 critica i nesses. 0he customer have the f eBibi ity of choosing (ritica ! ness cover up to the basic )um Assured se ected by you 7+inimum .s. 58,8889.

'7 H#&)ita* Ca&- Be%e$it 6HC73 0he worry of setting hospita bi s 7room charge9 adds to the
trauma of hospita i#ation. 3%a&a& A ian# :ospita (ash %enefit4 reduces this financia burden and he ps recovery with peace of mind.

F*exi"i*it! i% C#ve a.e

!n %a&a& A ian#, they be ieve in the offering and not &ust products. 0hey rea i#e that the customers are uni"ue and their needs for insurance vary with time. 0hey therefore offer the customer the f eBibi ity of inc usion of coverage or eBc usion of coverage at each po icy anniversary, sub&ect to conditions re ating to such inc usions and eBc usion. 3(omprehensive Accident ?rotection4 can be inc uded and eBc uded at each po icy anniversary. /ami y !ncome %enefit, (ritica ! ness %enefit and :ospita cash %enefit can be ta$en at inception on y. (! N :( can be reduced or eBc uded subse"uent y at any po icy anniversary. 5nce reduced or eBc uded, they be increased or inc uded subse"uent y.

I%c ea&e i% Ri&4 C#ve a.e 3

Hvery added responsibi ity in a person*s ca s for increase in his-her ris$ cover. %a&a& A ian# provide the customer the option to increase coverage up to 58A of the basic )um Assured on each of the fo owing 1 4 4 5 :appy moments on their ife 1 Four birth of your first chi d 0he birth of the second chi d

30his additiona coverage is not sub&ect to underwriting. 0he option shou d be eBercised within <8 days of the occurrence of the said event.4

SA1E CARE ECONOM2

As the breadwinner of the fami y you shou der severa responsibi ities. Four spouse*s we fare, your chi dren*s education, buying a house or a car G you have a ot to thin$ about, everyday. =e, at %a&a& A ian#, be ieve that the security and growth of your hard earned money shou d not add to these. =hich is why they have created the 3%a&a& A ian# )ave (are Hconomy2 )ing e ?remium4 the 182year )ing e ?remium version of our popu ar 3)ave (are Hconomy4. !t is an idea p an for a one2time ump sum investment that provides for saving with high ris$2cover.

W-at '#e& IBa+a+ A**ia%, Save Ca e Ec#%#m! 8 SPJ #$$e !#uD

0he 3%a&a& A ian# )ave (are Hconomy G )?, is a )ing e ?remium investment p an for 18 years that a so participates in the profits of the company. 0he high ights of this p an are1 1 1 2 3 4 +inimum ;uaranteed .eturn up to 3.54A7depending on age at entry9. 0he +inimum ;uaranteed Amount 7)um Assured9 wou d grow further by way of A high ris$2cover of up to 142A 7depending on age at entry9 of the sum invested from the H igib e for 0aB %enefits under )ection 88 and )ection 18 718 >9 of the !ncome 0aB Act. At maturity you wi receive the )um Assured 7+inimum ;uaranteed Amount9 a ong

compounded annua bonuses. beginning of the po icy term as a financia safety net to provide for unpredictab e adversities.

with the accrued bonuses.

Deat- Be%e$it 3
!n case of death during the term of the p an, the nominee wi be paid the )um Assured 7+inimum ;uaranteed Amount9 p us accrued bonuses. ! case of death of a minor 7be ow age 79, the death benefit wi be the surrender va ue or )ing e ?remium whichever is higher.

RISK CARE
0his p an offers the customer ife insurance cover at the owest possib e cost for a se ected term. !t is an idea option to cover their near and dear ones against financia ris$s arising out of ife*s adversities G i$e death and permanent disabi ity. !n the case of pre2mature death during the term, the )um Assured is paid to the nominee. 0here are no surviva benefits under this p an.

W-at '#e& t-i& )*a% #$$e D

0he 3%a&a& A ian# .is$ (are4 ? an offers the convenience of choosing between two payment options. 1 1

Re.u*a P emium Pa!me%t2 ?remium payment through the se ected term. Si%.*e P emium Pa!me%t2 5ne time premium for the se ected term at

commencement. Apart from covering the ris$ of natura death, this p an a so provides the option to choose up to 5 additiona benefits. A person can se ect a specific combination of additiona benefits best suited to his-her needs, avai ab e in 4 attractive pac$ages to choose from

18

Ec#%#m!3
0his is the basic p an, which is avai ab e for both the regu ar and sing e premium

payment options.

11 11 12 13

P #tect3 0his pac$ comes with the fo owing 3 in2bui t additiona benefits1
Accidenta >eath %enefits. Accidenta ?ermanent 0ota -?artia >isabi ity %enefits. =aiver of ?remium %enefit 7in case of accidenta permanent tota disabi ity9 0he ?rotect ?ac$ is avai ab e with the regu ar premium payment option on y.

12 1. 1.

Hea*t-3 0his pac$ comes with the fo owing 2 in2bui t additiona benefits1
(ritica ! ness %enefit. :ospita (ash %enefit. 0he heath pac$ is avai ab e with the regu ar premium payment

option on y. T#ta*3 0his pac$ comes with the fo owing 5 in2bui t additiona benefits1 1. 1. 2. 3. 4. Accidenta >eath %enefit. Accidenta ?ermanent 0ota -?artia >isabi ity %enefit. =aiver of ?remium %enefit 7in case of accidenta permanent tota disabi ity9. (ritica ! ness %enefit. :ospita (ash %enefit. 0he tota ?ac$ is avai ab e with the regu ar premium payment option on y.

13 13 14 15

Be%e$it&
?remium =aiver %enefit /ami y !ncome %enefit 5ption to ?urchase future !nsurance

Exc*u&i#%& )uicide within one year from commencement of ris$, whether same or not. 0his product gives the sa ient featured on y the re evant po icy document is the conc usive evidence of the contract, and provides in detai s a the conditions, eBc usion re ated to each of p ans under the %a&a& A ian# 3(hi d ;ain4 )o utions.

LIFE TIME CARE

0his p an provides you with the comfort that your near and dear ones wi continue to ive their ife without financia worries, even when you are not around.

PENSION PLANS SWARNA 1ISHRANTI

Fou have been wor$ing hard. Fou*re going to retire one day, :ow do you see your retirementI 0rave ing ;o fingI 0urning a hobby into a second career or vo unteering for a nob e cause or simp y spending more time with your fami y. !n retirement, how you choose to spend your time is now up to you. !t*s a so up to you to ensure your retirement income asts as ong you do. 0he decisions you ma$e about your money today shou d be f eBib e enough to accommodate your changing needs. 0a$ing charge of your o den years are go den years.

W-at '#e& IBa+a+ A**ia%, S(a %a 1i&- a%tiJ #$$e &D

=ith Ba+a+ A**ia%, S(a %a 1i&- a%ti9 a person can ta$e contro of his-her future and

ensure a retirement he can oo$ forward to. 0his p an he ps a person to prudent y p ay for his retirement today, so that he doesn*t have to worry about inf ation, dec ining interest rates and rising medica bi s in the future as a so ensures the financia security of his fami y. 0he annuity payab e under this p an wi ensure that his-her earnings never stop during their ifetime. ?ac$ed with a host of innovative features and with f eBibi ity i$e never before, then the search for the perfect pension ends here with Ba+a+ A**ia%, S(a %a 1i&- a%ti9 they have the option to choose the fo owing additiona benefits1

a7

Fami*! I%c#me Be%e$it 3 0he customer can se ect the uni"ue /ami y !ncome
%enefit from %a&a& A ian# that ensures tota financia protection for oved ones. !n case of death or accidenta tota permanent disabi ity, a guaranteed month y income of 1A of the )um assured 712A per annum9 is paid ti the vesting date or at east for period of 18years, whichever is higher. +oreover, a future premiums are waived. 0his uni"ue regu ar income benefit can act as important supp ement to the pension avai ab e to the spouse in the case of death.

"7

C#m) e-e%&ive Acci'e%t P #tecti#% 30his benefit provides comprehensive

cover in case of an accident. !t comprises of 1

Acci'e%ta* Deat- Be%e$it 3 Accidents are a ways sudden and sometimes

fata . Fou can*t essen the emotiona shoc$ but you can certain y soften the financia one. Ba+a+ A**ia%, Acci'e%ta* Deat- Be%e$it gives the oved ones something to start with after the permanent oss of income by paying an amount e"ua to the )um Assured. 7)ub&ect to a maBimum of .s. 58,88,888-2 under a po icies with %a&a& A ian# ta$en together9.

Acci'e%ta* Pe ma%e%t T#ta*GPa tia* Di&a"i*it! Be%e$it 3

Accidents are unpredictab e and so are the conse"uences. 0hey may ead to a disabi ity2 partia or tota . 0his benefit provides a financia cushion against

such misfortunes. 5ne wi get 58A of the )um Assured in case of partia disabi ity and 188A in case of tota disabi ity. 7)ub&ect to a maBimum of .s. 25,88,888-2 for partia and .s. 58,88,888-2 for tota disabi ity under a po icies with %a&a& A ian# ta$en together9.

Waive #$ P emium Be%e$it 3 An accident may ead to premium tota

disabi ity, imiting one*s abi ity to earn. %a&a& A ian# =aiver of ?remium %enefit is a he ping hand when one needs it most. !t waives off a future premiums whi e $eeping the va uab e ife insurance cover a ive, thus enab ing you to ive up to your commitments.

c7

Te m C#ve 3 A''iti#%a* P #tecti#% $# 2#u Fami*!3 0he customers have an option to inc ude
a Te m C#ve in his-her po icy, which wi provide an additiona ife insurance protection at a nomina cost. 0his a so ensures that the pension avai ab e to spouse is further supp emented.

'7 C itica* I**%e&& Be%e$it 3 )ome i

nesses are critica . 0hey not on y a ter one*s ife*s

pattern but a so resu t in a financia drain. 3%a&a& A ian# (ritica ! ness %enefit4 softness the impact on the fami y by paying out the (ritica ! ness %enefit under the p an immediate y, whi e other po icy benefits continue 7eBc uding :ospita (ash %enefit9. =e cover 11 critica i nesses. 0he customer have the f eBibi ity of choosing (ritica ! ness cover up to the basic )um Assured se ected by you 7+inimum .s. 58,8889.

e7 H#&)ita* Ca&- Be%e$it 6HC7 3

0he worry of setting hospita bi s 7room charge9

adds to the trauma of hospita i#ation. 3%a&a& A ian# :ospita (ash %enefit4 reduces this financia burden and he ps recovery with peace of mind.

W-at a e t-e "e%e$it& #$ Ba+a+ A**ia%, S(a %a 1i&- a%tiD

0he p an wor$s in two parts 2 T-e 'e$e me%t )e i#' a%' T-e a%%uit! )e i#'5 >uring the deferment period, the p an provided va uab e ife cover and bui ds up the funds re"uired to purchase the immediate annuity. 0he deferment period ends at the vesting date. 0he customers are free to choose their age of retirement 7vesting date9 between 45 and 78 years. )ince the Ba+a+ A**ia%, S(a %a 1i&- a%ti p an participates in the profits of the company, the )um Assured grows with time through the bonuses dec ared by the company. 0he benefits on ve&ti%. 'ate 7the date you choose to retire9 1. 1. T-e Sum A&&u e' a*#%. (it- a accrued bonuses wi be used to )u c-a&e a%

imme'iate a%%uit!. 0he immediate wi be purchased at rates prevai ing at that point of time. O)ti#% t# ta4e *um) &um3 0he customers have the option to ta$e upto 33A of )um Assured p us accrued bonuses on the vesting date as a ump sum. 0his amount wou d be taB in their hand, as per current taB aws. 0he ba ance amount wi be used to purchase an immediate annuity. 2.

O)e% Ma 4et O)ti#%3 Fou have the option to purchase an immediate annuity from

%a&a& A ian# or from any other company. !f the immediate annuity is purchased from %a&a& A ian#, the amount avai ab e for purchased of annuity wi be up to 2A At present, they offer their immediate annuity p an for ife, )warna .a$sha, tied to this p an. 3.

T-e mi%imum i%&ta**me%t #$ a%%uit! $ #m Ba+a+ A**ia%, i& R&5A>>>G-5

0he annuity mode may be changed to ma$e each insta ment more than the minimum re"uirement. !f it is sti be ow the minimum, the )um Assured R Accrued %onuses wou d be paid.

A''e' A&&u a%ce 8 $# !#u $ami*!

!n the unfortunate event of death during the deferent period, your spouse wi have the

option to ta$e the )um Assured p us accrued bonuses as a ump sum pr purchase an annuity to get regu ar income for ife. /or the immediate annuity, your spouse wi have the 5pen +ar$et 5ption as we , %a&a& A ian# immediate annuity, with a mar$ up of 2A wi be avai ab e on y if the spouse is above 45 years of age. !n a ages ower than 45, the )um Assured R A Accrued bonuses wou d paid out.

F*exi"i*it! i% C#ve a.e

At %a&a& A ian#, they be ieve in offering benefits and not &ust products. 0hey have rea i#ed that the customers are uni"ue and their needs for insurance vary with time. 0hey therefore offer the f eBibi ity of inc usion of coverage or eBc usion of coverage at each po icy anniversary ti the vesting date, sub&ect to conditions re ating to such inc usion and eBc usion. 3(omprehensive Accident ?rotection4 can be inc uded and eBc uded at each po icy anniversary. 0he 0erm (over, /ami y !ncome %enefit, (ritica ! ness %enefit and :ospita (ash %enefit can be reduced or eBc uded subse"uent y at any po icy anniversary. 5nce reduced or eBc uded, they cannot be increased or inc uded in the po icy subse"uent y. 0he /ami y !ncome benefit, once se ected, cannot be removed. 0he term cover can be eBc uded at any subse"uent po icy anniversary. 5nce removed, it cannot be inc uded in the po icy subse"uent y.

UNIT GAIN EAS2 PENSION

Fou have been wor$ing hard. Fou*re going to retire one day. :ow do you see your retirementI 0rave ingI ;o fingI 0urning a hobby into a second career or vo unteering for a nob e cause or simp y spending more time with your fami y. !n retirement, how you choose to spend your time is now upto you. !ts a so upto you to ensure your retirement income asts as ong as you do. 0he decisions you ma$e about your money today shou d be f eBib e enough to accommodate your changing needs. 0a$ing charge ensures that your o den years are your go den years.

T-e IBa+a+ A**ia%, U%it Gai% Ea&! Pe%&i#%J P*a%

=ith %a&a& A ian#, you can ta$e contro of your future and ensure a retirement you can

oo$ forward to. 0here are two pac$ages to choose from1 U%itGai% Ea&! Pe%&i#% Re.u*a P emium U%itGai% Ea&! Pe%&i#% Si%.*e P emium

W-at a e t-e "e%e$it& avai*a"*eD

0he p an wor$s in two parts G t-e 'e$e me%t )e i#' a%' t-e a%%uit! )e i#'5 >uring the deferment period, the p an bui ds up the funds re"uired to purchase the immediate annuity. 0he deferment period ends at the vesting date. Fou are free to choose your age of retirement 7vesting date9 between 45 and 78 years.

T-e "e%e$it& #% 1e&ti%. Date 6t-e 'ate !#u c-##&e t# eti e7

1. 1. 0he Account Ka ue as on the vesting date wi be used to purchase an immediate annuity. 5ption to ta$e ump sum1 Fou have the option to ta$e up to 1-3 rd of the account va ue on 0he immediate annuity wi be purchased at rates prevai ing at that point of time. the vesting date as a ump sum. 0his amount wou d be taB free in your hand, as per current taB aws. 0he ba ance amount wi be used to purchase an immediate annuity. 2. 5pen +ar$et 5ption1 Fou have the option to purchase an immediate annuity from %a&a& A ian# or from any other company. !f the immediate annuity is purchased from %a&a& A ian#, the amount avai ab e for purchase of the annuity wi be mar$et up by 2A. 3. 0he minimum insta ment of annuity from %a&a& A ian# is .s.1888-2. 0he annuity fre"uency may be changed to ma$e each insta ment more than the minimum re"uirement. !f it sti be ow the minimum, the Account Ka ue may be uti i#ed to purchase an immediate annuity from any other company in the a open mar$et as per your choice, or paid in ump sum, if permissib e, sub&ect to the prevai ing taB aws.

A&&u a%ce 8 $# !#u $ami*!

!n the unfortunate event of death during the deferment period, your spouse wi have the option to ta$e the Account Ka ue as a ump sum or purchase an annuity to get regu ar income for ife. /or the immediate annuity, your spouse wi have the 5pen +ar$et 5ption as we .

0he immediate annuity from %a&a& A ian# wi be avai ab e on y if the spouse is above 45. !f age were be ow 45, the Account Ka ue wou d be paid out.

A%%uit! #)ti#%&3
Fou wi be ab e to choose from a immediate annuity products offered by %a&a& A ian# 'ife insurance at the vesting date. 0he annuity products current y avai ab e are1 Annuity for 'ife Annuity for 'ife with 5, 18 or 15 years certain payout Annuity for 'ife with .eturn of (apita Fou a so has the open mar$et option to purchase immediate annuity.

UNITGAIN LIFE PENSION

Fou have been wor$ing hard. Fou*re going to retire one day. :ow do you see your retirementI 0rave ingI ;o fingI 0urning a hobby into a second career or vo unteering for a nob e cause or simp y spending more time with your fami y. !n retirement, how you choose to spend your time is now up to you. !ts a so up to you to ensure your retirement asts as ong as you do. 0he decision you ma$e about your money today shou d be f eBib e enough to accommodate your changing needs. 0a$ing charge of your retirement begins with %a&a& A ian# Dnit;ain 'ife ?ension, a p an that ensures that your o den years are your go den years. 0he 3%a&a& A ian# Dnit ;ain 'ife ?ension4 ? an with %a&a& A ian#, you can ta$e contro of your future and ensure a retirement you can oo$ forward to. 0his p an has been designed to ta$e care of your retirement and insurance needs, thereby providing you with a comprehensive so ution for a ifetime. 0here are two pac$ages to choose from1 1 1

U%itGai% Li$e Pe%&i#% Re.u*a P emium U%itGai% Li$e Pe%&i#% Si%.*e P emium W-at a e t-e "e%e$it& avai*a"*eD

0he p an wor$s in two parts G the deferment period and the annuity period. >uring the deferment period, the p an provides va uab e ife cover and bui ds up the funds re"uired to purchase the immediate annuity. 0he deferment period ends at the vesting date. Fou are free to choose your age of retirement 7vesting date9 between 45 and 78 years.

T-e "e%e$it& #% 1e&ti%. Date 6t-e 'ate !#u c-##&e t# eti e7

1. 0he Account Ka ue as on the vesting date wi be used to )u c-a&e a% imme'iate

a%%uit!5 0he immediate annuity wi be purchased at rates prevai ing at that point of time.
2.

O)ti#% t# ta4e *um) &um3 Fou have the option to ta$e up to 1-3rd of the account

va ue on the vesting date as a ump sum. 0his amount wou d be taB free in your hand, as per current taB aws. 0he ba ance amount wi be used to purchase an immediate annuity.

3.

O)e% Ma 4et O)ti#%3 Fou have the option to purchase an immediate annuity from

%a&a& A ian# or from any other company. !f the immediate annuity is purchased from %a&a& A ian#, the amount avai ab e for purchase of the annuity wi be up by 2A. 4. 0he minimum insta ment of annuity from %a&a& A ian# is .s.1888-2. 0he annuity

fre"uency may be charged to ma$e each insta ment more than the minimum re"uirement. !f it sti be ow minimum, the Account Ka ue may be uti i#ed to purchase an immediate annuity from any other company in the open mar$et as per your choice, or paid in umpsum, if permissib e, sub&ect to prevai ing taB aws.

A&&u a%ce 8 $# !#u $ami*!

!n the unfortunate event of death during the deferment period, your spouse wi get the greater of the )um Assured or the Account Ka ue. )-he wi have the option to ta$e it as a ump sum or purchase an annuity to get regu ar income for ife. /or the immediate annuity, your spouse wi have the 5pen +ar$et 5ption as we . 0he immediate annuity from %a&a& A ian# wi be avai ab e on y if the spouse is above 45. !f age were be ow 45, the amount

wou d be paid out as a ump sum5

A%%uit! O)ti#%&
Fou wi 1. 1. 2. be ab e to choose from a annuity products offered by %a&a& A ian# 'ife insurance at the vesting date. 0he annuity products current y avai ab e are1 Annuity for 'ife Annuity for 'ife with 5,18 or 15 years certain payout Annuity for 'ife with .eturn of (apita Fou a so has the open mar$et option to

purchase immediate annuity.

SWARNA RAKSHA ROC

Fou have been wor$ing hard. Fou*re going to retire one day. :ow do you see your retirementI 0rave ingI ;o fingI 0urning a hobby into a second career or vo unteering for a nob e cause or simp y spending more time with your fami y. !n retirement, how you choose to spend your time is now up to you. !ts a so up to you to ensure your retirement income asts as ong as you do. 0a$ing charge of your retirement begins with %a&a& A ian# )warna .a$sha, a p an that ensures that your o den years o den years are you go den years.

T-e IBa+a+ A**ia%, S(a %a Ra4&-aJ ROC P*a%

=ith %a&a& A ian# )warna .a$sha, you can ensure a regu ar income after retirement. 0he p an offers you a 'ife Annuity with .eturn of (apita .

H#( '#e& Ba+a+ A**ia%, S(a %a Ra4&-a (# 4D

A you have to do is pay a ump sum amount to %a&a& A ian# 'ife !nsurance (ompany, and the annuity payments wi start after eBpiry of month y-"uarter y-ha f year y-year y interva corresponding to the payment mode se ected by you. :ere annuity is payab e for ife, so you do not have to worry about your income stopping at any stage. =hat more, under the return of capita option, the amount used to purchase the annuity is paid to the nominee on the death of the

annuity.

Im)# ta%t 'etai*& #$ t-e IBa+a+ A**ia%, S(a %a Ra4&-a ROCJ P*a%
1 1 2 3 +inimum Age at Hntry 45 +aBimum Age at Hntry 88 +inimum 'ump )um .s.58,888 +inimum Annuity !nsta ment .s.1888

H#( muc- (i** !#u .etD

/or .s.18, 88,888-2 invested in )warna .a$sha at age 68, you wi receive .s.53, 6<8-2 per GERANTEED for ife, with return of .s.18, 88,888-2 to your nominee on death.

A%%uit! F eCue%c! M#'e for your convenience they have provided 4 Annuity /re"uency
+odes that can be Fear y, :a f year y, "uarter y or month y. 0he annuity wi be payab e one month-"uarter-ha f year-year after the date of purchase depending on the mode se ected.

Fema*e Live& 0he annuity rates for fema e ives sha be the corresponding annuity rate for a 4
year younger ma e.

A? 'a!& F ee L#c4 Pe i#'3

=ithin 15 days from the date of receipt of the po icy, you have the option to review the terms and conditions and return the po icy, if you disagree to any of the terms N conditions, stating the reason for your ob&ections. Fou wi be entit ed to a refund of the premium paid, sub&ect on y to a deduction of the eBpenses incurred.

DISTRIBUTION CHANNEL
%a&a& A ian# ;enera !nsurance (ompany 'imited is a &oint venture company between %a&a& Auto 'imited, !ndia*s eading insurance and financia services group. %a&a& A ian# ;enera !nsurance (ompany offers technica eBce ence in a areas of ;enera N :ea th

insurance and .is$ +anagement. 0he partnership successfu y combines %a&a& Auto*s eBtensive understanding of the oca mar$et and eBpensive distribution with the g oba eBperience and technica eBpertise of the A ian# ;roup. A ian# A;, ;ermany brings its technica eBpertise of insuring the ma&ority of /ortune 588 companies. %a&a& A ian# ;enera !nsurance is head"uartered on ?une and has a wide networ$ of 48 offices spanning the country. A the offices are fu y networ$ed. 0he company received the !.>A registration +ay 2881 and today has a vast range of 45 products to suit the corporate and retai customers. 0he company has a so pioneered the issue of uni"ue forms of ris$ cover, i$e )pecia ?A cover for Amarnath Fatris, :ousing oan cover for peop e who may become unemp oyed, /i m !nsurance, (redit !nsurance cover for domestic as we as credit ris$. %a&a& A ian# has two main channe s of distribution, one is the Agency channe , which is the dominant one, and the other one is bancassurance agreement so far. 0he first was )tandard (hartered %an$. =hen they started their operations in !ndia, it had a good customer base of :@!s N corporate and therefore they chose that ban$. 0heir neBt bancassurance arrangement was with )yndicate %an$ ast year. .ecent y, we have entered into bancassurance with (enturion %an$. 0his ban$ has a vast networ$ of around 188 branches not in metro cities but a so in 3%4 c ass cities. %a&a& A ian# 'ife !nsurance is poised for an acce erated growth in the mar$et and has a ready become the fastest growing private ife insurance company in !ndia. %a&a& A ian# 'ife !nsurance has a wide pan !ndia presence of office networ$ in 156 cities of the country and is aided with a strong and trained Agency networ$ of over 28,888 agents. %a&a& A ian# has forged strong %ancassurance and (orporate Agency re ationships and continues to bui d on new tie2ups for fast trac$ growth and deep mar$et penetration. %a&a& A ian# has tied up with 6 ban$s vi#. ban$ of ?un&ab, %an$ of .a&asthan, Eammu N 6ashmir ban$, 'ord 6rishna ban$, 6arur Kysya %an$ and ?un&ab N )ind %an$ G the 1 st ?ub ic )ector ban$ to tie up with it. %a&a& A ian# is the on y private genera insurer to have tied up with 6 %ancassurance partners. And so far they are happy with the performance of this channe of distribution for their products. %a&a& A ian# has tied up with Eana$a yan )aha$ari %an$, schedu e urban co2operative

ban$, for %ancassurance on a referra basis. As per the arrangement, Eana$a yan saha$ari %an$ wi distribute %a&a& A ian# ife insurance products through its branches. 0he ban$ has a networ$ of 25 branches in +umbai ad its suburbs 0hane, Kashi and ?anve . !ts area of operation covers entire +aharashtra. (enturion %an$ has in$ed a pact with %a&a& A ian# 'ife !nsurance (ompany to distribute the atter*s %ancassurance products through branches in the country as part of p ans to grow free2 base income. !n the first phase the private sector ban$ wou d ro out %ancassurance products at 46 branches and 16 eBtension counters from 5ctober one, its managing director )ha iendra to d reporters on =ednesday. 0he distribution set2up wou d be eBpanded to 15 more branches and 6 eBtension counters in second phase. %a&a& A ian# 'ife !nsurance has aunched a s ew of need2based products to cater to each varied needs of the customer. (urrent y %a&a& A ian# 'ife !nsurance has a product portfo io of 1< products and more need2based products are in the pipe ine. %a&a& A ian# is a so targeting tech savvy customers. 0he ban$s are in regu ar touch with their customers anyway either through the A0+s, !nternet %an$ing etc. and hence the ban$ can at east inform their customers about the insurance products. 5nce the customer evinces $een interest the product features can be eBp ained to them. Again in order to issue the po icy they need not visit their office, but the ban$ branch can issue the po icy from their office itse f. %a&a& A ian# 'ife !nsurance (ompany 'td recorded .s.588 crore ;=? from Apri 2884 to Eanuary2885and has insured a tota of 588,888R customers, scoring a doub e2588 this year. 0he company .ecent y aunched an on ine sa es porta and has been widening its distribution networ$ as we strengthening its mar$et presence, through strategic partnerships with the right distributors and a strong, focused re ationship with each of its partners. At present, %a&a& A ian# ran$s second amongst private p ayers, with a mar$et share of 12A 7as per !.>A resu ts for this financia year, up to >ecember 28849, and 2.83 A amongst overa p ayers. 0he company*s agents, bancassurance partners, corporate agents and sa es team, apart from its decentra i#ed operations and f eBib e products, have p ayed a ma&or ro e in its fast paced

growth. =ith the authority to thin$ as business managers and bui d their branches as profit centers. 0hey are encouraged to open sate ite branches. 0his gives branch managers the depth of decision2ma$ing and speed re"uired to react to mar$et dynamics and consumer needs. 0he management has a so appointed fu 2time training personne for each branch.

0he fastest growing private 'ife !nsurance company in !ndia, %a&a& A ian#*s portfo io of 1< products inc udes comprehensive HEm)*#!ee Be%e$it S#*uti#% 6G #u) Te m Li$e9 EDLI9 G atuit!9 Su)e a%%uati#%9 Ke!ma% I%&u a%ce a%' M# e7: I%ve&t Gai% 6 a u%iCue Li$e I%&u a%ce )*a% $# t-e i%'ivi'ua*9 where a regu ar income is combined in a p an that a so pays a ump sum79 Ca&- Gai% 6m#%e! "ac479 C-i*' Gai% 6c-i*' e%F& )*a%79 Ri&4 Ca e 6)u e te m79 Li$etime Ca e 6(-#*e *i$e79 Te m Ca e 6te m (it- etu % #$ ) emium79 S(a %a 1i&- a%ti 6 eti eme%t )*a%79 P #tect# 6m# t.a.e te m i%&u a%ce )*a%79 U%it Gai% 6u%it-*i%4e' )*a%79 U%itGai% Si%.*e P emium9 U%it Gai% P*u&9 U%it Gai% P*u& SP9 Li$e*#%. Gai% P*u&9 U%it Gai% Si%.*e Pe%&i#% a%' U%it Gai% Ea&! Pe%&i#%5

RESEARCH METHODOLOG2
0he approach to the research is considered in this chapter, from the theoretica underpinning to the co ection and ana ysis of the data. !t begins with the eBtent of the research to provide the specific guide ines of studying. 0he neBt part is concerned with the method of the research that refers to the data co ection and ana y#ing which is used in the research.

CONCEPTUAL CONTE0T OF THE RESEARCH

As the ob&ective of the research focuses on the research of potentia !nsurance (onsu tants with specia emphasis of %a&a& A ian#. !t wi he p the company to increase its sa es, which is the prime ob&ective of the company at this time. 0he research attempts to generate awareness among the peop e of >e hi regarding the agency of %a&a& A ian#.

5%EH(0!KH 5/ )0D>F

T# $i%' #ut t-e P#te%tia* I%&u a%ce c#%&u*ta%t& T# 4%#( t-e Sa*e& P #m#ti#% &c-eme&5 T# $i%' t-e ) #'uct a(a e%e&& am#%. e&)#%'e%t&5 T# &tu'! &)eci$ic .ui'e*i%e&5

METHODS
PRIMAR2 DATA
>ate co ection for this research was done primari y through fi ing up of "uestionnaire.

0he samp e for the research inc uding different individua s of various age groups and having different professions and "ua ifications. >ata was co ected through the interview of individua s. 0he "uestionnaire was containing "uestions regarding the persona detai s of individua s and then some ight "uestions regarding their primary $now edge re ated to private insurance companies. 0hen there were "uestions re ated to their interest in being the !nsurance (onsu tants of company.

SECONDAR2 DATA
A arge amount of secondary data has been co ected from secondary sources. )ome of the sources are12 1 1 2 .eports on !nsurance )ector of !ndia. Artic es from @ewspapers and maga#ines. Karious web sites of the insurance companies and re ated sites.

DATA ANAL2SIS
0here are some features of ana y#ing data that need to be borne in mind when choosing the method for ana y#ing the research. 0he "uestionnaire were prepared to eBp ore the psycho ogy of individua s about being associated with %a&a& A ian# as !nsurance (onsu tants and to he p the company grow by increasing its sa es. !nstead of testing a hypothesis, a "ua itative ana yst may demonstrate evidence showing that a theory, genera i#ing, or interpretation is p ausib e.

SAMPLE SI<E3Karious areas of >e hi were covered in order to fi the "uestionnaire. ! interacted with 188 individua s in order to $now about their interest of being !nsurance (onsu tants of %a&a& A ian#.

SAMPLE COMPOSITION
1 1 2 3 Fouth HBecutives )erviceman %usiness persons

RESEARCH DESIGN 3
A research design provides the framewor$ to be used as a guide in co ecting and ana y#ing data. can cover many variab es of interest, and is not affected by the movements of e ements in the samp e, because other e ements can be substituted for them.

AGENTS LICENSE1 B2 THE AUTHORIT2 34556745589 3URBAN AN1 RURAL9

LIFE INSURERS Na*e Ur,a! %AEAE A''!A@S '!/H 234(2 !@)D.A@(H (5. '0> 0A0A A!; '!/H !@)D.A@(H (',4/ (5. '0> A+? )A@+A. (5.'0>. !@)D.A@(H )220 R&ra +'03 (34 '3' T#ta +203/ ('''4 ,/(+

%!.'A )D@ '!/H !@)D.A@(H (5.'0>. AK!KA '!/H !@)D.A@(H (5 !@>!A ?K0. '0>. :>/( )0A@>A.> '!/H !@)D.A@(H (5. '0>. !(!(! ?.D>H@0!A' '!/H !@)D.A@(H (5. '0>. !@; KF)FA '!/H !@)D.A@(H (5. ?K0. '0>. '!/H !@)D.A@(H (5.?5.A0!5@ 5/ !@>!A +AP @H= F5.6 '!/H !@)D.A@(H (5.'0> +H0'!/H !@>!A !@)D.A@(H (5. ?K0. '0>. 650A6 +A:!@>.A 5'> +D0DA' '!/H !@)D.A@(H (5.'0>. )A:A.A !@>!A '!/H !@)D.A@(H (5. '0>. )%! '!/H !@)D.A@(H (5. '0>. S&, T#ta

,)+2 +'/2 4+2) 243+3 ')/) ('+4,3 . 0344 ++(/ 2''2 ( (4/3 4:8-4;<

)+ ((' (/+2 42 +(0 ('43(, 44 0) 2/) / 20' =><-;:(

,)', +3(4 (/+,0 244+/ ''2/ +,+''+ 0443 ++') 24'0 ( 2(', 6>4-5<:

DATA ANAL2SIS3After co ection of data, the ana ysis of it was done through various graphs12 >oughnut ?ie >iagram %ar >iagram 0ubes (ones According to the data co ected through survey with the he p of "uestionnaire, the brea$ up with

respect to income of individua s is as fo ows 1

MONTHL2 INCOME
825888 5888218888 18888215888 15888228888 28888 A@> A%5KH

NUMBER OF INDI1IDUALS
43 68 4< 32 16

<5 85 65 (5 45 =5 5 50780 807=50 =507=80 =807450 45 a!) a,#ve 578

ANAL2SIS FOR THE O1ERALL INCOME GROUP

Se viceme%8LBM

Bu&i%e&&me%-NKM

+2 1ervicemen -usinessmen 03

G a'uate 8 O?M

Be!#%' G a'uate-?M

,
8raduate Non 8raduate

4,

C#m)a%!
HDFC Sta%'a ' Ba+a+ A**ia%, ICICI P u Li$e Bi *a Su%*i$e Tata AIG

P emium I%c#me 6c 7
L?B5A= N=L5?O KAO5P? B>P5OL AKO5B=

Ma 4et S-a e 6M7

L5AA ?5NK P5B= A5K= A5NP

4$ 4$

(0$ H"F& 1tandard -ajaj llian. I&I&I *ru %ife 24$ -irla 1unlife 7ata I8

+'$

/A5 >o you $now about the %a&a& A ian# 'ife !nsurance companiesI
A%&5 0he response of individua s are as 12 2e&- N>M N#-=>M

)/ 5es No 0/

/B5 =ou d you i$e to earn some eBtra moneyI A%&5 0he response of individua s is as fo ows 1 2e&- O>M N#-A>M

(/ 5es No 4/

/L5 =hat is desired or eBpected month y incomeI A%&5 0he response of individua s are as fo ows 12 M #$ )e#)*e
> B

MONTHL2 INCOME
>-?>>> ?>>>-A>>>>

A>>>>-A?>>> A?>>>-B>>>> B>>>> a%' a"#ve

A> P? AL

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68? 88?

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IMPORTANCE OF AD1ISORS IN AN INSURANE COMPAN23

!n the insurance industry the sa es team fo owing the typica organi#ation structure1 0he sa es team comprises of the )a es +anager superior to Area )a es +anager, 0hese A)+*s 7Area )a es +anager9 have their own individua team of Dnit +anager and in turn Dnit +anagers their own team of financia advisors. Hach team of A)+*s competing with each other in surge of achieving targets, each Dnit +anager depends on their Advisors for their business. 0hey represent the company in the mar$et to the customers, so nobody can deny the importance of Advisors in the who e system. 0hey providing the company with the business and he p their respective Dnit +anager to achieve their targets. )o a unit +anager has to be rea y carefu whi e recruiting their Advisors. >uring the year of appointment, new Advisor usua y account for a re ative y sma proportion of the organi#ation*s tota production. 0he most promising means of achieving profitab e production growth ies in your sa es organi#ation*s capacity to give po icy owners good counse and prompt, courteous serves Gto give them va ue for premium paid. 0he best guarantee of having that capacity comes from retaining arge number of productive advisor. (onse"uent y, the deve opment needs of your sa es organi#ation ca and stay there are a ways found to be manpower2focused. %efore we move to the 3how to4 of recruiting, et*s consider some important phi osophies re ative to recruiting. for successfu

recruiting. !t*s a necessity. 0his is why manager who move to the top of %a&a& A ian# honor ro

FI1E PERSISTENT CONCERNS3

As an %a&a& A ian# +anager, you are fu y committed to bui ding a high performing, growing agency. 0his being true, it fo ows those five concerns must be constant in your annua p anning. 1 1 2 3 4 0he SEARCH for ta ent 0he E1ALUTION of potentia advisors 0he ATTRACTION of advisors 0he RETENTION of advisors 0he PRODUCTI1IT2 of advisors A%! ma%a.e (-# attai%& &ati&$!i%. e&u*t& i% t-e&e $ive a ea& (i** e%+#! 1 1 2 3 4 )atisfying sa es resu ts 5utstanding persistency of business )uperior po icy owner service capabi ities An enviab e reputation as a %a&a& A ian# agency bui der A momentum which comes from the synergistic benefit of success

CHART SHO@ING HO@ TO GET AOTENTIAL A1BISORC

Putting it simply in a flow

SEARCH
?here to look for

ATTRACT
How to attract to life Insurance

EBALUATE
How to evaluate

ARO1UCTIBIT2

RETENTION

SWOT ANALYSIS

SWOT ANALYSIS St e%.t-&

)trong brand name (ustomer oya ty ?roduct Qua ity

;ood reputation among customers

Wea4%e&&e&
1 1 !nsufficient product promotion Dnawareness about the product

O))# tu%it!
1 ?ortfo io 1 A ian# %a&a& p ans to focus on group insurance for its neBt phase of A ian# %a&a& adds comp ete suite of group insurance products to its product

aggressive growth 2 An unfi ed customer need

T- eat
1 1 2 Hmergence of substitute products .esistance to change @on2 response from the target customers

FINDINGS
1 ?eop e are becoming more N more money conscious as ! didn*t find any person who

doesn*t want to earn eBtra money. 1 ?eop e are very much aware of !(!(! ?rudentia among private companies and '!( in

pub ic sector as they respond me first name of '!( then !(!(! prudentia and then others. 2 0he overa scenario is that sti peop e trust on '!( more than any other insurance ife insurance means '!(.

company. )ometimes when ! as$ed someone to become an agent of %a&a& A ian# they misunderstood with '!(. /or them sti 3

;enera y peop e are having eisure time of around 223 hrs and sti want to uti i#e this

time to earn eBtra money, if they can. 4 (ontrary of the prior thin$ing most of the peop e don*t hesitate in doing fie d wor$ an

roaming in the mar$et. 0hey $now that without hard wor$ they can*t earn money. 5 0here were many respondents who were not interested in attending seminar conducted by

%a&a& A ian# among !ndian +ar$et.

RECOMMENDATIONS
1 1 0here shou d be focus on advertisements through 0.K. or other H ectronic +edia. 0ry to ma$e %rand !mage, with the he p of %a&a& Auto, more N more as it has a strong

brand image in !ndian mar$et. 2 3 +a$e use of internet ban$ing for increasing sa es, and a so for promotion. 0hey shou d increase their >istribution (hanne s by more N more tie ups with the oca s

ban$s a so, because they can he p them to penetrate in !ndian mar$et easi y. 4 0here shou d be more incentives to !(*s as they are the bac$bone of the company in order

to increase sa es they have to do more efforts than others.

CONCLUSION
Here I am going to explore my experience that I have gained during my summer training period on the market field under the visuali.ation of some senior active mem>ers of the - @ @ llian. %ife Insurance &o. %td. I worked on the field for two months. "uring the first few days I surveyed the market and tried to understand the thinking of the people whether they are interested to join - @ @ llian. as to get a >rilliant career option. I approached a lot of respected persons and convinced them a>out the >eneficial features of the work if they join A work with - @ @ llian.. I met many persons and convinced them to join the - @ @ llian. %ife

Insurance &o. %td. as an Insurance &are &onsultant for setting a >rilliant career. !any of the prospects know a>out the - @ @ llian. as a national reputed organi.ation, which is highly trustful. 7hey are very much interested to join the - @ @ llian. as an insurance care consultant, as they are very awaked and determined towards their career. It is also surveyed that the only a>out 2/$ people has their life insurance in this country so it may >e a great career option for the pu>lic who want to >ring their life from an ordinary to extra ordinary life.

BIBLIOGRAPH2

LIFE INSURERS %ife Insurance &orporation of India I&I&I *rudential %ife Insurance &o. %imited -irla 1un=%ife Insurance &ompany %imited H"F& 1tandard %ife Insurance &o. %imited IN8 ;ysya %ife Insurance &ompany %imited !et%ife Insurance &ompany %imited 9m :otak !ahindra %ife Insurance &o. %td. 7 7 I8 %ife Insurance &ompany %imited -ajaj llian. 8eneral Insurance &o. %imited &holamandalam 8eneral Insurance &o. %td. Insurance <egulatory "evelopment uthority %ife Insurance &orporation of India <oyal 1undaram lliance Insurance &o. %td. Insurance <egulatory "evelopment uthority

@e,sites www.licindia.com www.iciciprulife.com www.>irlasunlife.com www.hdfcinsurance.com www.ingvysayalife.com www.metlife.com www.omkotakmahnidra.com www.tata=aig.com www.>ajajallian..co.in www.cholainsurance.com www.irdaindia.org www.licindia.com www.royalsun.com www.irdaindia.org

BOOKS WERE CONSIDERED

+ar$eting management by M 5 P-i*i) K#t*e 5

 ?rincip es of mar$eting by M 5 Ric-a ' A m&t #%.5 +ar$eting )trategy and +anagement by M 5 Mic-ae* ;5 Ba4e 5 +ar$eting (hanne s by M 5 L#ui& Ste % %usiness .esearch +ethodo ogy by M 5 C5R5 K#t-a i5

BUSINESS MAGA<INE @ NEWS PAPER

1 1 2

0he 0imes of !ndia 0he Hconomic 0imes 4?s, ?itch, %usiness N Hconomy

PERFORMA OF /UESTIONNAIRE /A5>o you $now about the %a&a& A ian# 'ife !nsurance companiesI
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/L5 =hat is desired or eBpected month y incomeI

8 G 5888 5888 G 18888 18888 G 15888 15888 G 28888 28888 and Above

/=5 :ow much time you can provide easi y besides your &ob hoursI
822 426 628 /u 0ime

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Fes @o

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