TITLE OF THE PROJECT Product Portfolio and Demand Analysis

Name of the Researcher POOJA SINGH Master of Management Studies Academic Year 2013-2014

Under the Guidance of PROF: D.C.KUTE University of Mumbai Changu Kana Thakur Institute of Management Studies & Research Plot No. 1 & 4, Sector-11 Khanda Colony, New Panvel (W) 410206.

DECLARATION

I, POOJA SINGH, a student of M.M.S of CHANGU KANA THAKUR INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH, NEW PANVEL, hereby declare that, I have completed the project on ANALYSIS OF PRODUCT PORFOLIO & A DETAIL CASE STUDY OF DEMAND IN NAVI MUMBAI in the academic year 2013-2014.

The information submitted by me is true and original to the best of my knowledge.

DATE: Pooja Singh

ACKNOWLEDGEMENT

I am obliged to Mr. Kalpesh Vaidya (Associate Partner at Aditya Birla Insurance Group Mumbai Area, India), Mr. Vinod Sawant & Mr. Raghunathan for the valuable information and guidance provided by them. I am grateful for their active participation and patience to listen and answer my questions during the period of my summer internship in their organisation.

I take this opportunity to express my profound gratitude and deep regards to my guide Professor D.C.Kute for his exemplary guidance, monitoring and constant encouragement throughout the course of this thesis. The blessing, help and guidance given by him time to time shall carry me a long way in the journey of life on which I am about to embark.

I also take this opportunity to express a deep sense of gratitude to Professor Nilesh Manore and other visiting faculty members for their valuable information and guidance, which helped me in completing this task through various stages.

POOJA SINGH

CONTENTS
Declaration Acknowledgement Executive Summary 2 3 5

Chapter No.1 Introduction about subject Chapter No.2 Objectives of study (Aims, Objectives, Hyopothesis) Chapter No.3 Importance of the study Scope Limitations Chapter No.4 Literature Review Chapter No.5 Research Methodology Chapter No.6 Introduction of company Value Achievements Competitors Chapter No.7 Product Portfolio Protection solutions Health & Wellness solutions Childrens Future solutions Retirement solutions Wealth with Protection solutions

7 8

11 12 14 15 16 17

18 23 26 31 37 43 45 56 57
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Chapter No.8 Demand Analysis Chapter No.9 Findings & Analysis Chapter No.10 Results & Conclusion Chapter No.11 Recommendations & Learnings

EXECUTIVE SUMMARY
Birla Sun life Insurance Company was established in 2000 & it is among the top 5 companies in insurance sector. Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial Inc, one of the leading international financial services organizations from Canada. Birla Sun Life Insurance pioneered the unique Unit Linked Life Insurance Solutions in India. BSLI has cemented its position as a leading player in the private life insurance industry within 4 years of its inception. Its main focus on investment linked insurance products supported its leadership in product innovation. Its multi-dimensional channels offered convenient channels for sale of the products to customers. It had been maintaining corporate governance and a high degree of transparency in all business practices and procedures. It had a strong fundamentals based on Aditya Birla Groups local insight and sun life financials global expertise. BSLI has different product for customer solution & this project is the detail case study of products and it demand analysis. The following are the customer solution of BSLI. -Protection Solution -Health & Wellness -Childrens Future -Retirement Solutions -Wealth with protection plan -Rider -Rural Solutions BSLI has also proved itself in product innovation by bringing different insurance product in the market. Its products like BSLI Dream Child & BSLI Saral Health has a great demand in the market.
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The purpose of this project is to find out which product has greater demand in the market. This project also includes the information regarding IRDA (insurance regulatory development authority). The company chosen was Birla Sun Life Insurance (BSLI). The reason behind this was to understand the expertise it has developed and skills it has owned, especially in the field of marketing its products as it is the booming industries in India. The in sight of knowledge that I acquired in the two months of Internship with BSLI was quite impressive. The opportunity I received to apply my knowledge and skills in the organization gave me a practical view point to the whole system of learning.

CHAPTER NO. 1

Introduction about subject

The growth of insurance companies as a part of the growing domestic financial sector in both the developed and the developing economies, has led to increase in studies looking at the one of the leading player in insurance sector i.e. BSLI. The strengths and weaknesses of insurance sector do differ substantially when we compare one company with other. Putting it in simpler form, the objective is to see whether the customers prefer the BSLI solutions and which solution they prefer. This would also help to find out the demand & market share of BSLI. The study would also include the various solutions of Birla Sun Life Insurance Company. It is a complete study of all the solutions which is offered to the investors, investor preferences for different investment options and their reasons, to study Investors choice among the plans of Birla Sun Life Insurance Company Ltd.

CHAPTER NO. 2

Objective of the study

2.1 PROBLEM STATEMENT:
To study the product portfolio & analysis of demand with a special reference of Navi Mumbai.

2.2 OBJECTIVES
To insight into the Birla Sun Life Insurance & its product available in the market. To study Investor preferences for different investment options and their reasons. To study Investors choice among the plans of Birla Sun Life Insurance Company Ltd. To analyse the market demand of the plans of BSLI.

2.3 HYPOTHESIS
Null Hypothesis Demand for BSLI solutions is less compared to other insurance company solution. Alternate Hypothesis demand for BSLI solution is not less compared to other insurance company solution.

CHAPTER NO 3

Scope & Limitations of the study

3.1 SCOPE OF THE PROJECT
Learned about Insurance Industry and its relevance. Could understand Birla Sun Life Insurance Company, their very attractive and specific plans and the functions. Interacted with 120 potential investors and acquired good exposure in Sales. This project would help the company of what new innovations they can introduce in the market. The company may also get an idea of investors demand.

3.2 LIMITATIONS OF PROJECT

This Project is only aimed at the study of various products of BSLI and demand analysis. Some of the respondents were not co-operative.

Biasness is another limitation. Questionnaire to Customer is limited which may not give the actual scenario.

Sample size taken is limited from Navi Mumbai i.e. 100 Customers. Time limit of completing Project this was the major limitations to this project. The Research may not cover the overall need of the Company

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CHAPTER NO 4

Literature Review
BOOK: Investment Analysis & Portfolio Management (Third Edition) AUTHOR: Prasanna Chandra
Portfolio Management Process (Page no.13) Investing management (or portfolio management) is a complex activity which may be broken down into the following steps: Specification of Investment Objectives and Constraints Choice of the Asset Mix Formulation of Portfolio Strategy Selection of Securities Portfolio Execution Portfolio Revision Performance Evaluation

Portfolio Return And Risk (Page no.218) Portfolio Expected Return The expected return on a portfolio is simply the weighted average of the expected returns on the individual securities in the portfolio: E(RP) = Ent=1 wiE(Ri) Where E(RP) is the expected return on the portfolio, wi is the weight of security i in the portfolio, E(Ri) is the expected return on security i, and n is the number of security in the portfolio.

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Note that the weight of a security represents the proportion of portfolio value invested in that security and the combined portfolio weight equal 1.

CHAPTER NO 5

Research Methodology
Scientific Endeavor
Approach and analyze responses for desired result Discovering new facts Verifying and testing existing facts Analysis of sequences, interrelationships and causal explanations

Data Type
Primary data Secondary data

Source of Data
Primary Employees, businessmen, agriculturalists, etc. IRDA books and magazines Internet Secondary Company brochures

Tools for Data Collection

Questionnaire and Interview

Population
Potential investors in Navi Mumbai

Sampling design
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 Non probability sampling

Sampling period
One month (20th July 20th August, 2013)

Sample size
120 respondents SECONDARY DATA: The secondary data for the Project is collected from various sources: i) ii) iii) iv) Books written by several Authors Internet Magazines Newspapers

STATISTICAL TOOLS: The Projects finding and interpretation has been only possible with various Statistical tools, the used tools are as follows: 1. 2. 3. 4. Pie Chart Bar Diagram Clustered Bar Diagram Clustered Pie Chart

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CHAPTER NO 6

Introduction of Company
Aditya Birla Group started at 1857. Shiv Narayan Birla started cotton trading operation in the small town of Pilani in Rajasthan. Ghyanshyamdas Birla (GD Birla)-1919-he set the manufacturing company. Grandson of G.D.Birla is Aditya Vikram Birla (A.V.Birla)1964- Son of A.V.Birla is Kumar Mangalam Birla (K.M.Birla)-1995. Type of company: - Joint venture With Sun life Finance 2.4 million customers Distribution reach over 500 cities More than 600 branches 239 partnerships with corporate agents & banks Asset under Management is around $4.4 billions

MISSION
To deliver superior value to our customers, shareholders, employees and society at large.

VISION
To be a premium global conglomerate with a clear focus on each business

Happiness at work : Happiness at work Birla had also implemented the organizational health survey by the late 1990s, which measured the Happiness at work index. This was carried out to track the employees satisfaction.
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About K.M.Birla:

Kumar Mangalam Birla is a chairman of Aditya Birla who is son of A.V.Birla. K.M.Birla done C.A and MBA from london business school, at the age of 28 taken responsibility towards business having total revenue of INR 15,000 crores with assets of INR 16,000 crores. It had a strength of 75,000 employees and 6,00,000 shareholders.

VALUES:
INTEGRITYCOMMITMENT PASSION SEAMLESSNESS SPEED Honesty in Every Action Deliver on the Promise. Energised Action. Boundary Less in Letter and Spirit One Step Ahead Always

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ACHIEVMENTS:
The world's largest aluminium rolling company. Biggest producer of primary aluminium in Asia The No.1 producer of carbon black in the world. Among the top 10 cement producers globally India's second-largest producer and the largest exporter of viscose filament yarn. The country's largest premium, branded apparel company. Largest manufacturer of linen fabric in India. Fifth-largest producer of acrylic fibre in the world. Aditya Birla Nuvo ranks as Among the most energy-efficient fertiliser plants. India's largest and the world's fourth-largest manufacturer of insulators. Idea Cellular Limited, which is among the top three cellular operators in India, in terms of revenue market share. Birla Sun Life Insurance Co. Ltd., which is among the top five private sector life insurance companies in India, in terms of new business premium. Birla Sun Life Asset Management Co. Ltd., which is the fourth largest asset management company in India, in terms of assets under management. Aditya Birla Minacs Worldwide Limited, which is the sixth largest Indian BPO company by revenue size.

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COMPETITORS:
1. SBI Life Insurance 2. Metlife India Life Insurance 3. ICICI Prudential Life Insurance 4. Bajaj Allianz Life 5. Max New York Life Insurance 6. Sahara Life Insurance 7. Tata AIG Life 8. HDFC Standard Life 9. Kotak Life Insurance 10. Aviva Life Insurance 11. Reliance Life Insurance Company Limited

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CHAPTER NO 7 Product Portfolio

Protection Solutions 1. BSLI Protector Plan
Key Features: Complete financial protection at an affordable cost Hedge against the rising cost of living with an option of increasing sum Assured Enhanced insurance with appropriate rider options Income Tax benefits as per prevailing norms under the Income Tax Act, 1961 Other Benefits : Death Benefit: In case of the unfortunate demise of the life insured during the policy term, the Sum Assured as per chosen option will be paid to the nominee. The policy shall be terminated once the Death Benefit is paid. Maturity Benefit: In the event the life insured survives to the end of the policy term, no benefit is payable on maturity and the policy shall be terminated thereafter. This plan offer no policy loan, surrender value or paid-up value Plan Summary Entry Age Sum Assured 18 to 65 years of age I - Level Sum Assured
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Option Policy Term Premium Paying Term Premium Mode Sum Assured

II - Increasing Sum Assured 5 to 30 years, subject to max. age on maturity: 75 years Regular Pay Annual | Semi-annual | Quarterly | Monthly Min. Rs. 5,00,000; Max. Rs. 49,99,999

2. BSLI Premium Back Term Plan

BSLI Premium Back Term Plan is a unique, low-cost term plan that offers you an assured peace of mind with premium back on maturity. Key Features: Optimal life insurance cover This plan offers you optimal life insurance cover at low costs, thus ensuring your family's financial security in case something unfortunate happens to you Money back at maturity You receive the total premiums paid over the policy term at maturity. Plan Summary Entry Age Minimum - 18 years Maximum - 50 years for the 20 year term 55 years for the 10 and 15 years term plan Rs. 2,00,000 Annually, semi- annually, quarterly or on
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Minimum sum assured Premiuim Paying

Frequency Tax Benefits

a monthly basis Under Section 80C and 10(10D) of the Income Tax Act, 1961

3. BSLI Protector Plus Plan

Key Features: Complete financial protection at an affordable cost Hedge against the rising cost of living with an option of increasing Sum Assured Enhanced insurance with appropriate rider options Rewards for a healthy lifestyle Income Tax benefits as per prevailing norms under the Income Tax Act, 1961 Other Benefits : Death Benefit: In case of the unfortunate demise of the life insured during the policy term, the Sum Assured as per chosen option will be paid to the nominee. The policy shall be terminated once the Death Benefit is paid. Maturity Benefit: In the event the life insured survives to the end of the policy term, no benefit is payable on maturity and the policy shall be terminated thereafter. This plan offer no policy loan, surrender value or paid-up value. Plan Summary Entry Age 18 to 65 years of age I - Level Sum Assured Sum Assured Option II - Increasing Sum Assured
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Policy Term Premium Paying Term Premium Mode Sum Assured

5 to 30 years, subject to max. age on maturity: 75 years Regular Pay Annual | Semi-annual | Quarterly | Monthly Min. Rs. 50,00,000 Max. no limit (subject to underwriting guidelines)

4. BSLI Future Guard Plan

Key Features of the Plan:

Complete financial protection at an affordable cost Guarantee of premiums paid at the end of policy term Enhanced insurance with appropriate rider options Tax benefits under the Income Tax Act, 1961

How does the plan work?

Choose your type of plan You choose the type of plan depending on your desire of return of premiums at the end of policy term. o Plan A 100% return of your premiums o Plan B 110% to 150% return of your premiums depending on your policy term Choose your policy term You choose the number of years for which you want to be protected. You can choose a policy term of 10, 15, 20, 25 or 30 years. Choose your sum assured You choose the sum assured payable on the death of the life insured.
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Plan Summary

Entry Age (age on last 18 to 65 years of age birthday) 10, 15, 20, 25, 30 years, subject to max. Policy Term age on maturity: 75 years Premium Paying Term Regular Pay Annual | Semi-annual | Quarterly | Premium Mode Monthly Sum Assured Min. Rs. 5,00,000; Max. No Limit

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 Health & Wellness Solutions 1. BSLI Health Plan

Being able to provide the best medical care is of great importance to all of us. Illnesses can strike at any time and paying for medical and hospitalization care from your savings can put a strain on your finances and can become a major source of worry. BSLI's Health Plan allows you to spend time cheering up your loved ones and not worry about paying for the best care. BLSI Health Plan is a 3 years Plan which guarantees you a health cover now and in the future also. Plan Summary Age at entry Self, Spouse and Parents - 18 years to 65 years, Children - 3 months to 17 years Maximum coverage age Self, Spouse and Parents - 80 years Children - 25 years Family members eligible for Self, Spouse and 3 dependent cover children or Parents Policy Tenure 3 years Premium Payment Term 3 years regular premium payment with guaranteed insurability at the end of every policy term Minimum & Maximum Premium Depends on age and gender Network Hospitals with Cashless 5300 PLUS network hospitals that
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Facility Medical Second Opinion

provide cashless facility Free medical second opinion from world's leading second opinion provider

2. BSLI Saral Health Plan

Unforeseen medical expenses can leave a serious dent in your savings. While you realise the need for a plan that covers you for medical expenses, you have always found the process of buying one cumbersome and lengthy. Presenting BSLI Saral Health Plan, a unit-linked health insurance plan that offers comprehensive cover for all medical expenses and that too without you having to undergo any medical tests. This plan offers you: Cover for hospitalisation expenses Reimbursement of regular healthcare expenses Critical illness cover Terminal Illness and death benefit The Saral process: 1. Choose your pay term and health insurance benefit term from the options of 10 pay/10 term, 10 pay/20 term, 20 pay/20 term. 2. Choose your additional premium (if any), to enhance your health reimbursement benefit to meet your future health & medical related expenses. 3. Answer four health related Questions. No medical tests required.

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3. BSLI Universal Health Plan

Over the years health care costs have been steadily increasing in India. Providing for the best medical care and hospitalization is proving to be increasingly expensive, especially when you have to dip into your long-term savings to pay for hospital bills. The BSLI Universal Health Plan is a health insurance plan, which enables you to provide your entire family with the best medical care without putting a strain on your long-term savings. It comes with a guaranteed health insurance cover of 3 years for your entire family. The BSLI Universal Health Plan covers your family's hospital related expenses and also out-of-pocket health expenses such as over-the counter medicines, gym, yoga, dental and similar expenses Plan Summary Age at entry

Self, Spouse and Parents - 18 years to 65 years, Children - 3 months to 17 years Maximum coverage age Self, Spouse and Parents - 80 years Children - 25 years Family members eligible for Self, Spouse and 3 dependent cover children or Parents Policy Tenure 3 years Premium Payment Term 3 years regular premium payment with guaranteed insurability at the end of every policy term Minimum & Maximum Premium Depends on age and gender Network Hospitals with Cashless 5300 PLUS network hospitals that
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Facility Medical Second Opinion

provide cashless facility Free medical second opinion from world's leading second opinion provider

Childrens Future Solutions 1. BSLI Bachat Child Plan

The BSLI Bachat (Child) Plan secures your child's future by helping you build funds through regular savings. In the event of an untimely demise of the life insured, BSLI will pay all remaining premiums so that your policy continues. Also, your savings will continue to grow through the term of the policy. Grow your regular savings Policy continuance Safety and liquidity Tax savings How BSLI Bachat (Child) Plan works: In addition, you pay a Policy Continuation Premium to ensure continuation of the policy till maturity in case of death of the life insured during the policy term. Policy Continuation Premium (fixed additional premium)
Entry Age Sum Assured 13 to 40 180 x MBP 41 to 50 120 x MBP

Once you have chosen your premium amount, you receive a series of benefits as follows: 1. You will get a life cover for the financial security of your family. 2. You stand to receive premium rebates for choosing annual and semiannual mode of payment. You get a rebate of 4% if you choose to pay annually, and 2% for semi-annually. 3. Your policy continues till maturity, as you planned to secure your child's
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future in case of an untimely demise. 4. On maturity, you will receive a lump sum which you can use to fulfill your child's dreams and goals. 5. You have the advantage of liquidity on your savings to access your money any time you need it after three policy years. 6. You have the option of double life cover in case of accidental death, for a nominal additional premium, to ensure enhanced financial security of your family Plan Summary Entry Age - Grand / 18 - 50 years - 30 days Parent - Child to 17 years Policy Term 20 years Premium Pay Term 20 years Monthly Base Premium Rs. 400 - Rs. 3,000 Up to 180 times Sum Assured Monthly Base Premium Premium Payment Annual, Semi-annual, Frequency Quarterly and Monthly Entry Age Sum Assured 13 to 40 41 to 50 180 x MBP 120 x MBP

With BSLI Bachat (Child) Plan, by saving as little as Rs. 400 per month. you can build a corpus through regular systematic savings and secure your child's future under all circumstances

2. BSLI Classic Child Plan

This plan offers you:
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 Joint life cover for you and your child Flexibility of growing your savings through 10 Investment Funds, as per your risk appetite Enhanced financial security for your loved ones.

How BSLI Classic Child Plan works: 1. You choose the Savings Date that suits your financial goals for your child. 2. Your Policy Term will be the Savings Date + 20 years. 3. You choose the Basic Premium you want to pay every year. 4. You will receive Basic Sum Assured which is the minimum death benefit payable on the demise of the primary life insured. The Basic Sum Assured is automatically determined as your Basic Premium multiplied by: The higher of 10 or the number of years to maturity divided by 2, for entry ages below 45; or The higher of 7 or the number of years to maturity divided by 4, for entry ages 45 and above 5. You have an option to choose an Enhanced Sum Assured and increase the financial security for your child's future. With this option you can choose any amount of additional life cover over and above the Basic Sum Assured at a nominal cost. 6. You have an option to choose from our range of riders and customise your family's future financial security. Plan Summary Entry Age Grand/Parent Child Savings Date 18 65 years, provided age on Savings Date is 75 or less 30 days 17 years Childs age 18 27, subject to minimum of 10 policy years
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Policy Term Basic Premium

Savings Date + 20 years Minimum Rs. 25,000 p.a. if paid annually Minimum Rs. 30,000 p.a. if paid monthly, quarterly or semi-annually Years to Savings Date Minimum Rs. 5,000 Minimum Rs. 50,000 Not exceeding Basic Sum Assured

Pay Term Top-up Premium Enhanced Sum Assured

3. BSLI Dream Child Plan

This plan offers you: Guaranteed Savings Amount on date of your choice Joint life cover for you and your child Enhanced financial security for your loved ones How BSLI Dream Child Plan works: 1. You choose the Guaranteed Savings Date that suits your objectives. Your Guaranteed Savings Date is the policy anniversary when your child's attained age is from 18 to 27 years, subject to a minimum of 10 policy years. 2. Your Policy Term will be your Guaranteed Savings Date + 20 years. 3. You decide the Basic Premium you want to pay every year. 4. You will receive Basic Sum Assured which is the minimum death benefit payable on the demise of the primary life insured. The Basic Sum Assured is automatically determined as your Basic Premium multiplied by: The higher of 10 or the number of years to maturity divided by 2, for entry ages below 45; or The higher of 7 or the number of years to maturity divided by 4, for entry ages 45 and above
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5. You have an option to choose an Enhanced Sum Assured to increase the financial security for your loved ones. With this option you can choose any amount of additional life cover over and above the Basic Sum Assured at a nominal cost. 6. You have an option to choose from our range of riders to further customize the financial security of your loved ones. Plan Summary Entry Age Grand/Parent- Child 18 - 65 years, provided age on Guaranteed Savings Date is 75 or less 30 days - 17 years Child's age 18 - 27, subject to minimum of 10 policy years Guaranteed Savings Date + 20 years Minimum Rs. 12,000 p.a. if paid annually Minimum Rs. 15,000 p.a. if paid semi-annually Minimum Rs. 20,000 p.a. if paid quarterly Minimum Rs. 24,000 p.a. if paid monthly Pay Term Enhanced Sum Assured Years to Guaranteed Savings Date Minimum Rs. 50,000

Guaranteed Savings Date Policy Term Basic Premium

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 Retirement Solutions 1. BSLI Classic Life Plan

This plan offers you: Flexibility of directing your savings in 10 Investment Funds, as per risk appetite

Choice of Pay Term Whole life cover Enhanced financial security for your loved ones

How BSLI Classic Life Plan works: 1. You select the Savings Date that suits your retirement goals. 2. You select the Basic Premium you want to pay every year. 3. You will receive Basic Sum Assured which is the minimum death benefit payable on the demise of the life insured. The Basic Sum Assured is automatically determined as your Basic Premium multiplied by: The higher of 10 or the number of years to attain age 70 divided by 2, for entry ages below 45; or The higher of 7 or the number of years to attain age 70 divided by 4, for entry ages 45 and above 4. You select the number of years you want to pay your premiums, and select your Pay Term from option of 5-Pay / 10-Pay / 15-Pay / 20-Pay / To Savings Date. 5. You have the option to choose Enhanced Sum Assured to increase the financial security for your loved ones. This increases your life cover over and above the Basic Sum Assured at a nominal cost.
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6. You have the option to choose from our range of riders and customise the security of your family's financial future. Self-Managed Option - The flexibility to direct your savings in our range of 10 funds The Self-Managed Option gives you complete access to invest your premiums in our well established suite of 10 Investment Funds, ranging from 100% debt to 100% equity. You also enjoy full freedom to switch from one Investment Fund to another, as per your changing requirements.

Choose from our range of 10 Investment Funds, to suit your risk appetite Allocate your savings in the proportion of your choice Change your allocations as per your changing requirements

Plan Summary Policy Term Entry Age Savings Date Basic Premium Whole life 18 to 45 years 18 to 50 years 18 to 55 years 18 to 60 years

To age 55 To age 60 To age 65 To age 70 Minimum Rs. 25,000 p.a. if paid annually Minimum Rs. 30,000 p.a. if paid monthly, quarterly or semi-annually Short pay 5, 10, 15, To Savings Date 20 years Monthly, Quarterly, Semi-annually or Annually Minimum Rs. 5,000 Minimum Rs. 50,000, subject to maximum of 30 years to Savings Date
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Pay Term Premium Payment Frequency Top-up Premium Enhanced Sum Assured

2. BSLI Dream Life Plan

This plan offers you: Guaranteed Savings Amount on the date of your choice Whole life cover Choice of Pay Term Enhanced financial security for your loved ones How BSLI Dream Life Plan works: 1. You select the Guaranteed Savings Date that suits your retirement objectives. 2. You select the Basic Premium you want to pay every year. 3. You select the number of years you want to pay your premiums, and select your Pay Term from options of 5-Pay / 10-Pay / 15-Pay / 20-Pay / To Guaranteed Savings Date. 4. You will receive Basic Sum Assured which is the minimum death benefit payable on the demise of the life insured. The Basic Sum Assured is automatically determined as your Basic Premium multiplied by: The higher of 10 or the number of years to attain age 70 divided by 2, for entry ages below 45; or The higher of 7 or the number of years to attain age 70 divided by 4, for entry ages 45 and above 5. You have the option to choose Enhanced Sum Assured to increase the financial security for your loved ones. This increases your life cover over and above the Basic Sum Assured at a nominal cost. 6. You have the option to choose from our range of riders to further customise the financial security

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Plan Summary Policy Term Entry Age Guaranteed Savings Date Basic Premium Whole life 18 to 45 years 18 to 50 years 18 to 55 years 18 to 60 years

To age 55 To age 60 To age 65 To age 70 Minimum Rs. 12,000 p.a. if paid annually Minimum Rs. 15,000 p.a. if paid semi-annually Minimum Rs. 20,000 p.a. if paid quarterly Minimum Rs. 24,000 p.a. if paid monthly Short Pay 5 years Short Pay 10, 15 or 20 years To Guaranteed Savings Date From entry age 30 From entry age 18 From entry age 18

Pay Term

Premium Payment Monthly, Quarterly, Semi-annually or Annually Frequency Enhanced Sum Assured Minimum Rs. 50,000 Subject to a maximum of 30 years to Guaranteed Savings Date

3. BSLI Empower Pension Plan

Plan Summary
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Entry Age (age on last birthday) Accumulation Period Pay Term Basic Premium

25 70 years 5 30 years Regular pay Minimum Rs. 18,000 p.a. if paid annually Minimum Rs. 24,000 p.a. if paid semiannually, quarterly or monthly

How The Plan Works Step Choose your policy premium 1 You choose the policy premium amount you wish to pay every year till the vesting date. You can pay in monthly, quarterly, semi-annual or annual instalments. Please ask your financial advisor for details about the range of convenient payment methods we offer. Step Choose your vesting date 2 You choose a vesting date so as to have an accumulation period of 5 to 30 years. Step Choose your risk profile 3 You choose your risk profile based on your risk appetite Aggressive | Moderate | Conservative. Once chosen, the risk profile cannot be changed. Your Guaranteed Vesting Benefit is automatically determined based on the above choices. Your Guaranteed Vesting Benefit is automatically determined based on the above choices.
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4. BSLI Immediate Annuity Plan

How Does The Plan Works? Choose the regular income you wish to receive. This defines the premium you will need to pay Choose between the Annuity options offered Choose the frequency of payout monthly, quarterly, semiannual or annual Choose the income mode post-dated cheques or direct bank account credit Choose the annuity plan that best suits you Birla Sun Life Insurance Immediate Annuity Plan offers a choice of 5 Annuity options you can choose between. Regular annuity until the annuitant's death. Regular annuity for life with return of the premium on annuitant's death Regular annuity for chosen term. On annuitant's death during the chosen term, a nominee receives the balance annuity. Increasing annuity at 3% per annum until annuitant's death. Joint life - Last survivor. Primary annuitant receives annuity until death. Second annuitant continues to receive annuity until death.

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 Wealth With Protection Solutions 1. BSLI Foresight Plan

How BSLI Foresight Plan works 1. Choose your Basic Premium a. For Single-Pay option, you pay the premium only once. The minimum Basic Premium payable is Rs.2,00,000. b. For 5-Pay option, you pay the premium S annually for 5 years. The minimum Basic t Premium payable is Rs.1,00,000 e annually. p 2. Choose your Life Cover 4 You can choose your Basic Sum Assured (BSA) i.e. Life Cover, as per the matrix given below. Single Pay Option Less than 45 yrs of age Min 1.25 x Basic Premium Max 5 x Basic Premium 5-Pay Option Less than 45 yrs of age Min 10 x Basic Premium Max 300% of BSA

45 yrs of age or more 1.10 x Basic Premium 5 x Basic Premium

45 yrs of age or more 7 x Basic Premium 300% of BSA

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3. Choose the Investment Option between Guaranteed Option and SelfManaged Option.

2. BSLI Vision Plan

This plan offers you: Payout on the date of your choice Whole Life Cover Options to enhance your protection How BSLI Vision plan works: 1. You choose the Sum Assured which is the amount of life insurance cover up to the age of 100 years. 2. You choose a Guaranteed Survival Benefit (GSB) Term based on the number of years after which you would like to receive your payout. This term is also the accumulation phase of your plan, i.e. the number years for which you would have to pay premiums. 3. You choose from our range of riders, to enhance the financial security of your family. Plan Summary Entry Age (age last birthday) Policy Term Minimum Sum Assured GSB Term Minimum GSB Term Maximum GSB Term : : : : 1 to 65 years Whole Life to Age 100 Rs. 1,00,000 5 to 35 years Attained Age at GSB Term is 18 : years or more Attained Age at GSB Term is 75 : years or less
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Premium Paying Term

: Regular Pay during the GSB Term

3. BSLI Rainbow
How Does the BSLI Rainbow work You choose the single premium amount you want to invest You choose the policy term from options of 5 years and 10 years Your Benefits Plan Summary Entry Age Policy Term Pay Term Single Premium Basic Sum Assured 8 60 years, subject to minimum attained age of 18 at maturity 5 or 10 years Single pay Minimum Rs. 50,000 5 times Single Premium

4. BSLI Platinum Advantage Plan

BSLI Platinum Advantage Plan This Plan gives you the advantage to choose from 2 Investment Options Guaranteed Option and Self-Managed Option. With the Guaranteed Option your investments in the Platinum Advantage Fund are safeguarded from any downsides in the capital markets.

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And you also have options to enhance the financial security of your loved ones, at a nominal additional cost. This plan offers you: A 10-year plan with a 5-year Pay Term Option to enhance the financial security for your loved ones Complete control on your investments

How BSLI Platinum Advantage Plan works: 1. You choose the Basic Premium you want to pay annually for 5 years 2. You choose your Investment Option from Self-managed Option or Guaranteed Option 3. You choose the Enhanced Sum Assured and increase the financial protection of your loved ones 4. You choose from our range of riders and safeguard your family's financial future Plan Summary Entry Age of Life Insured Policy Term Pay Term Basic Premium 8 to 70 years of age 10 years 5 years Minimum Rs. 25,000 p.a. if paid annually Minimum Rs. 30,000 p.a. if paid monthly, quarterly or semiannually Monthly, Quarterly, Semi-annually or Annually
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Premium Payment Frequency

Basic Sum Assured

10 x Basic Premium for entry ages below 45 7 x Basic Premium for entry ages 45 and above Minimum Rs. 50,000 Entry Age 18 to 65 years

Enhanced Sum Assured

5. BSLI Dream Endowment Plan

This plan offers you: Guaranteed Savings Amount on the date of your choice Choice of Policy Term and Premium Payment Term Enhanced financial security for your loved ones How BSLI Dream Endowment Plan works: 1. You choose your Policy Term from our options of 10 / 15 / 20 / 25 / 30 years. 2. Your Guaranteed Savings Date is the last policy anniversary based on your choice of Policy Term. 3. You choose the Basic Premium you want to pay each year. 4. You choose Pay Term from options of 5-Pay / 10-Pay / 15-Pay / 20-Pay / Regular Pay. 5. You have an option to choose an Enhanced Sum Assured to increase the financial security for your loved ones. 6. You have an option to choose from our range of riders to further customise the financial security of your loved ones. Plan Summary

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Policy Term Guaranteed Savings Date (GSD) Entry Age

10, 15, 20, 25 and 30 years Same as policy term 1 year to 65 years, subject to minimum age of 18 on GSD Minimum Rs. 12,000 p.a. if paid annually Minimum Rs. 15,000 p.a. if paid semiannually Minimum Rs. 20,000 p.a. if paid quarterly Minimum Rs. 24,000 p.a. if paid monthly Short Pay 5 years Short Pay 10 years Short Pay 15 years Short Pay 20 years To Guaranteed Savings Date For entry age up to 50 For entry age up to 55 For entry age up to 60 For entry age up to 65 For entry age up to 65

Basic Premium

Pay Term

Premium Payment Option Enhanced Sum Assured

Monthly, Quarterly, Semi-annually or Annually Minimum Rs. 50,000 and not exceeding Basic Sum Assured, Entry Age 18 to 65 years, subject to maximum age of 75 on GSD

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CHAPTER NO 8 Demand Analysis

Birla Sun Life Insurance Company has topped in the group insurance business among private players with a market share of 34.94 per cent. The Birla group company has collected total group premium income of Rs 18.5 crore in the first six months of fiscal 2012.

Seen as a major thrust area for the company, Birla Sun Life envisages group insurance premium to contribute about 35-40 per cent of total first year premium in this fiscal against 26 per cent last year. While Birla Sun Life ranks number one in group sales in terms of premium collection, SBI Life Insurance Company has covered the maximum lives at over eight lakh through group sales. Birla Sun Life has insured just about one lakh to date.

According to Insurance Regulatory and Development Authority's (Irda) latest figures , SBI Life with a premium collection of Rs 12.24 crore under group business, ranks number 2. Among the top five in group sales are Tata AIG Life in third position (Rs 10.61 crore), OM Kotak Mahindra Life at fourth (Rs 4.33 crore) and HDFC Standard Life at fifth (Rs 2.12 crore).

Private insurance players are making strong beelines to capture market share in group corporate business.
43

 Group term business is very competitive and price-driven. However, as this business is very sensitive to claims, we need to stay within the competitive band-width or find ourselves out of business the next year," said Birla Sun Life vice president (group life and pension) Jaskirat Kaur. In financial year 2012-13, Birla Sun Life was the market leader in group sales with a share of 35.7 per cent among private players, and accounted for over one per cent of the total market.

Nevertheless, the 12 private insurance players have been able to capture less than five per cent of the total group insurance business in the country, with the Life Insurance Corporation of India (LIC) continuing to hold over 95 per cent market share. Birla Sun Life offers unit-linked group plans, which have seen net of charges returns in the region of 26 per cent plus in the last 12 months as on September 30, 2012.

While unit-linked plans offer all the upside, in the event of an individual retiring when the market has slumped and net asset value (NAV) of the fund becomes negative, Birla Sun Life offers a safety feature.
MARKET SHARE 64

8.93 LIC ICICI

6.98

2.96

2.88 HDFC

10.95 2.11 1.19 OTHERS

BIRLA SUN RELIANCE LIFE

BAJAJ KOTAK ALLIANZE MAHINDRA

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CHAPTER NO 9 Findings & Analysis

Age Group of the Respondents

45

 Nature of Family

46

 Annual income

47

 The Role of Investment for Successful Life

Views Number Percentage

Inevitable 56 47%

Needed 31 26%

Somewhat needed 23 20%

Not at all 10 7%

Total 120 100%

ROLE OF INVESTMENT FOR SUCCESSFUL LIFE

7% Inevitable 20%

47%
Needed Somewhat needed Not at all

26%

48

 Familiarity with Insurance Products

Response Number Percentage

Familiar 108 90%

Not Familiar 12 10%

Total 120 100%

FAMILIARITY WITH INSURANCE PRODUCTS

NO 10%

YES 90%

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 Preferences for Investment Options

Preferences Mean Value (Max- 5) Bank FD 4.25 Real Estate 3.86 Insurance 3.65 Gold 3.12 Chit Fund 2.23

Investor preference for Different Investment Options

5

Bank FD 4.25 3.86 3.65 3.12 2.23 Chit Fund

Bank FD Real Estate Insurance Gold Chit Fund

Real Estate
Insurance

Gold

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 Reason for Investment Options

Reason for Investment Mean value ( Max- 5 ) 4.13 3.63 3.92 3.30 3.70

Security Risk Cover High Returns Tax Relief Easy Liquidity

Reasons for Investment

5 4 3 2 1 0

4.13 3.92 3.63

3.7
3.3

Security Risk Cover High Returns Tax Relief Easy Liquidity

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 Insurance Policy Holders

Having any Insurance Policy at present

Status Number Percentage YES NO Total

76 63.33%

44 36.67%

120 100

Insurance Policy Holders

36.67%

YES

63. 67%

NO

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 Rating Birla Sun Life Insurance Plans

Plans
Saral Endowment Plan Child Dream Plan Dream Retirement Plan Saral Health Titanium Plus

Mean value ( Max 5 )

2.98 3.73 3.01 3.81 2.75

Rating Birla Sun Life Products

4 3.5
Mean Value

3 2.5 2 1.5 1 0.5 0

3.73

3.81 3.01

2.98

2.75

Saral Endowment

Child Dream

Dream Retirement

Saral Health

Titanium Plus

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 Performance Level of the Company

Level Number Percentage Excellent 34 28.33% Very Good 48 40% Good 26 21.67% Satisfactory 12 10% Total 120 100%

Performance Level

10%

21. 67%

28. 33%

Excellent

Very Good
Good

40%

Satisfactory

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Findings of the Study:

Most of the respondents prefer to invest FD in bank as first priority and then in Real Estate. Insurance is the next preference. Respondents give first priority to security for their investment. Second reason for Investment option is high returns. Therefore, Insurance is well appreciated. Saral Health plan and Dream Child plan of Birla Sun Life are mostly preferred by investors. There are four potential investors identified during this Organizational project. Birla Sun Life provides good services and performs at its best it has got an excellent rating by the respondents

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CHAPTER NO 10 Results & Conclusion

In present scenario, there is a cut-throat competition among the companies to get more and more prospects to buy their various products. Got first hand information on investor specific plans of BSLI.

Insight into the Birla Sun Life Insurance & its product available in the market and came to know which solution has more demand in the market. Insight into the various aspects of investor preferences and came to know that Saral Health plan and Dream Child plan of Birla Sun Life are mostly preferred by investors.

Birla Sun Life Insurance uses all those possible tools and latest techniques like software for calculating premiums, etc which helps their insurance advisors to sell more of their products. They have shown a lot of creativity and innovation in their training programs and have succeeded in achieving the desired outcome

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CHAPTER NO 11 Recommendation & learnings Recommendation:

The Company to concentrate more on advertising on Internet and other media. Birla Sun Life should preferably have an integrated plan to cover entire family members together. More emphasis on training.

Learnings:
Learned about Insurance Industry and its relevance. Could understand Birla Sun Life Insurance Company, their very attractive and specific plans and the functions. Interacted with 120 potential investors and acquired good exposure in Sales.

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Bibliography
References
1. COMPANY BROUCHURES AND PAMPHLETS

2. COMPANY ANNUAL RECORDS

Webliography
3. www.birlasunlife.com 4. www.google.com

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