Life insurance project report

CONTENTS
1. Introduction
2. Company Profile
3. Importance & Scope
4. Research Objectives
5. Hypothesis
6. Research Methodology
7. Data Analysis
8. Findings
9. Suggestions
10. Limitations
11. Bibliography
12. Annexure
DETAILD STUDY OF INSURANCE POLICY & PERFORMANCE EVALUATION

EXECUTIVE SUMMARY
Birla Sun Life Asset Management Company Ltd. (BSLAMC), the investment managers
of Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the
Sun Life Financial Services Inc. of Canada. The joint venture brings together the Aditya
Birla Group's experience in the Indian market and Sun Life's global experience.
Established in 1994, Birla Sun Life Mutual fund has emerged as one of India's leading
flagships of Mutual Funds business managing assets of a large investor base. Our
solutions offer a range of investment options, including diversified and sector specific
equity schemes, fund of fund schemes, hybrid and monthly income funds, a wide range
of debt and treasury products and offshore funds.
Birla Sun Life Asset Management Company has one of the largest team of research
analysts in the industry, dedicated to tracking down the best companies to invest in.
BSLAMC strives to provide transparent, ethical and research-based investments and
wealth management services.

INTRODUCTION
Life Insurance
Life insurance (Life Assurance in British English) is a type of insurance. As in all
insurance, the insured transfers a risk to the insurer. The insured pays a premium and
receives a policy in exchange. The risk assumed by the insurer is the risk of death of
the insured.
How life insurance works
There are three parties in a life insurance transaction; the insurer, the insured, and the
owner of the policy (policyholder), although the owner and the insured are often the
same person. For example, if John Smith buys a policy on his own life, he is both the
owner and the insured. But if Mary Smith, his wife, buys a policy on John's life, she is
the owner and he is the insured. The owner of the policy is called the grantee (he or she
will be the person who will pay for the policy). Another important person involved is the
beneficiary. The beneficiary is the person or persons who will receive the policy
proceeds upon the death of the insured. The beneficiary is not a party to the policy, but is
designated by the owner, who may change the beneficiary unless the policy has an
irrevocable beneficiary designation. With an irrevocable beneficiary, that beneficiary
must agree to changes in beneficiary, policy assignment, or borrowing of cash value.
The policy, like all insurance policies, is a legal contract specifying the terms and
conditions of the risk assumed. Special provisions apply, including a suicide clause

wherein the policy becomes null if the insured commits suicide within a specified time
for the policy date (usually two years). Any misrepresentation by the owner or insured on
the application is also grounds for nullification. Most contracts have a contestability
period, also usually a two-year period; if the insured dies within this period, the insurer
has a legal right to contest the claim and request additional information before deciding
to pay or deny the claim.
The face amount of the policy is normally the amount paid when the policy matures,
although policies can provide for greater or lesser amounts. The policy matures when the
insured dies or reaches a specified age. The most common reason to buy a life insurance
policy is to protect the financial interests of the owner of the policy in the event of the
insured's demise. The insurance proceeds would pay for funeral and other death costs or
be invested to provide income replacing the deceased's wages. Other reasons include
estate planning and retirement. The owner (if not the insured) must have an insurable
interest in the insured, i.e. a legitimate reason for insuring another person’s life. The
insurer (the life insurance company) calculates the policy prices with an intent to recover
claims to be paid and administrative costs, and to make a profit. The cost of insurance is
determined using mortality tables calculated by actuaries. Actuaries are professionals
who use actuarial science which is based in mathematics (primarily probability and
statistics). Mortality tables are statistically based tables showing average life
expectancies. The three main variables in a mortality table are age, gender, and use of
tobacco. The mortality tables provide a baseline for the cost of insurance. In practice,
these mortality tables are used in conjunction with the health and family history of the

individual applying for a policy in order to determine premiums and insurability. The
current mortality table being used by life insurance companies in the United States and
their regulators was calculated during the 1980s. There is currently a measure being
pushed to update the mortality tables by 2008.
The current mortality table assumes that roughly 2 in 1,000 people aged 25 will die
during the term of coverage. This number rises roughly quadratic ally to about 25 in
1,000 people for those aged 65. So in a group of one thousand 25 year old males with a
$100,000 policy, a life insurance company would have to, at the minimum, collect $200
a year from each of the thousand people to cover the expected claims. The insurance
company receives the premiums from the policy owner and invests them to create a pool
of money from which to pay claims, and finance the insurance company's operations.
Contrary to popular belief, the majority of the money that insurance companies make
comes directly from premiums paid, as money gained through investment of premiums
will never, in even the most ideal market conditions, vest enough money per year to pay
out claims. Rates charged for life insurance increase with the insured's age because,
statistically, a people are more likely to die as they get older.
Since adverse selection can have a negative impact on the financial results of the insurer,
the insurer investigates each proposed insured (unless the policy is below a company-
established minimum amount) beginning with the application, which becomes part of the
policy. Group Insurance policies are an exception. This investigation and resulting
evaluation of the risk is called underwriting. Health and lifestyle questions are asked, and
the answers are dutifully recorded. Certain responses by the insured will be given further
investigation. Life insurance companies in the United States support The Medical

Information Bureau, which is a clearinghouse of medical information on all persons who
have ever applied for life insurance. As part of the application, the insurer receives
permission to obtain information from the proposed insured's physicians. Life insurance
companies are never required by law to underwrite or to provide coverage on anyone.
They alone determine insurability, and some people, for their own health or lifestyle
reasons, are uninsurable. The policy can be declined (turned down) or rated. Rating
means increasing the premiums to provide for additional risks relative to that particular
insured.
Many companies use four general health categories for those evaluated for a life
insurance policy. These categories are Preferred Best, Preferred, Standard, and Tobacco.
Preferred Best means that the proposed insured has no adverse medical history, is not
under medication for any condition, and his family (immediate and extended) have no
history of early cancer, diabetes, or other conditions. Preferred is like Preferred Best, but
it allows that the proposed insured is currently under medication for the condition and
may have some family history. Most people are in the Standard category. Profession,
travel, and lifestyle also factor into not only which category the proposed insured falls,
but also whether the proposed insured will be denied a policy. For example, a person
who would otherwise be in the Preferred Best category will be denied a policy if he or
she travels to a high risk country.
Upon the death of the insured, the insurer will require acceptable proof of death before
paying the claim. The normal minimum proof is a death certificate and the insurer's
claim form completed, signed, and often notarized. If the insured's death was suspicious
and the policy amount warrants it, the insurer may investigate the circumstances

surrounding the death, before deciding whether there is a legal obligation to pay the
claim. Proceeds from the policy may be paid in a lump sum or as an annuity paid over
time in regular recurring payments for either for the life of a specified person or a
specified time period.

COMPANY PROFILE
Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya
Birla Group and Sun Life Financial Inc., a leading international financial services
organisation. The local knowledge of the Aditya Birla Group combined with the
expertise of Sun Life Financial Inc., offers a formidable value proposition to customers.
Sun Life Financial and its partners today have operations in key markets worldwide,
including India, Canada, the United States, the United Kingdom, Hong Kong,
Philippines, Japan, Indonesia, China and Bermuda. Sun Life Financial Inc. had assets
under management of over US$ 386.82 billion, as on 31 March 2007. Sun Life Financial
Inc. is a leading performer in the life insurance market in Canada.
BSLI in its five successful years of operations has contributed significantly to the growth
and development of the life insurance industry in India. It pioneered the launch of Unit
Linked Life Insurance plans amongst the private players in India. It was the first player
in the industry to sell its policies through the Bank assurance route and through the
internet. It was also the first private sector player to introduce a pure term plan in the
Indian market. This was supported by sales practices, which brought a degree of
transparency that was entirely new to the market. The process of getting sales
illustrations signed by customers, offering a free look period on all policies, which are
now industry standards were introduced by BSLI.
Being a customer centric company, BSLI has invested heavily in technology to build
world class processing capabilities. BSLI has covered more than one and a half million
lives since inception and its customer base is spread across 100 cities in India. All this

has assisted the company in cementing its place amongst the leaders in the industry in
terms of new business premium income. Birla Sun Life Insurance (BSLI), one of the
leading private life insurers in India today announced the inimitable achiever, cricketer
Kapil Dev as their corporate brand ambassador. The cricketing supremo will be
endorsing BSLI in all its marketing initiatives. Birla Sun Life Insurance is a value-
driven brand which has a national brand recall of 70 per cent. The objective of
appointing a brand ambassador is to grow its brand recall as it goes national in its
distribution reach and fuel business growth. As a brand ambassador, Kapil Dev will play
a key role in the brand and product marketing and promotional activities. BSLI has
always used an integrated marketing approach, which will be strengthened further.
Commenting on the association with Kapil Dev, Mr. S. K. Mitra, Director, Financial
Services, Aditya Birla Group and currently incharge of BSLI expressed, "The Birla Sun
Life Insurance business distribution network is national in nature covering more than
1000 points across the country .We have made our entry in several tier I and tier II
towns. It is therefore very important for the brand to connect at the grassroot level and
create trust. We believe that our association with Kapil Dev as our brand ambassador
will help us create this connect in a shorter period of time. We therefore now have two
strong connects — our parent brand Birla and our brand ambassador Kapil Dev".
Kapil Dev, also known as the Haryana Hurricane, was born on 6 January 1959 in
Chandigarh. He played his first competitive game of cricket at the age of 13 years and
made his test debut on 16 October 1978 at Faisalabad against Pakistan. Kapil Dev
remained India's top strike bowler for almost 15 years. His extraordinary test match
figures of more than 5000 runs and 434 wickets along with 64 catches show that he was

a world class cricketer and an all-rounder. He has raised the mantle of India to sporting
glory by winning us the World Cup.
In a study conducted by BSLI, Kapil Dev connected extremely well with the life
insurance category and had high acceptance by the masses. Our survey suggests that he
is seen as a very good fit for the BSLI brand. He is very much loved and respected by a
vast majority of the population.
On 26 November 2006, Birla Sun Life was host the annual golf tournament at the
Chembur Golf Club in Mumbai where Kapil Dev was participate.
About Birla Sun Life Insurance
Birla Sun Life Insurance Company Limited is a joint venture between the Aditya Birla
Group, one of the largest business houses in India and Sun Life Financial Inc., a leading
international financial services organisation. The local knowledge of the Aditya Birla
Group combined with the expertise of Sun Life Financial Inc., offers a formidable
protection for your future.
Birla Sun Life Insurance (BSLI), in its five successful years of operations, has
contributed significantly to the growth and development of the life insurance industry in
India. It pioneered the launch of unit linked life insurance plans amongst the private
players in India. It was the first player in the industry to sell its policies through the banc
assurance route and through the internet. It was the first private sector player to introduce
a pure term plan in the Indian market. This was supported by sales practices which
brought a degree of transparency that was entirely new to the market. The process of

getting sales illustrations signed by customers and offering a free look period on all
policies, which are now industry standards, were introduced by BSLI. Being a customer-
centric company, BSLI has invested heavily in technology to build world class
processing capabilities. BSLI has covered more than a million lives since inception and
its customer base is spread across more than 1000 towns and cities in India. All this has
assisted the company in cementing its place amongst the leaders in the industry in terms
of new business premium income. The company's current capital base is Rs.520 crore.
About the Aditya Birla Group
The Aditya Birla Group has a turnover close to Rs.38,000 crore (as on 31 March 2008)
and is one of the largest business houses in India. It enjoys a leadership position in all the
sectors in which it operates. With over 75 business units spanning the South East Asian
belt, Africa, Canada and the UK among others, it is reckoned as India's first
multinational corporation. The group is anchored by 72,000 employees and has seven
lakh shareholders, with a market capitalization of Rs.53,400___crore .
About Sun Life Financial Inc.
Sun Life Financial Inc. is a leading international financial services organisation
providing a diverse range of wealth accumulation and protection products and services to
individuals and corporate customers. Tracing its roots back to 1865, Sun Life Financial
and its partners today have operations in key markets worldwide, including Canada, the
United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India,
China and Bermuda. As of 31 March 2008, the Sun Life Financial group of companies

had total assets under management of US$ 343 billion.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine
(PSE) stock exchanges under ticker symbol "SLF".

VISION
To be a world class provider of financial security to individuals and corporates and to be
amongst the top three private sector life insurance companies in India
MISSION
To be the first preference of our customers by providing innovative, need based life
insurance and retirement solutions to individuals as well as corporates. These solutions
will be made available by well-trained professionals through a multi channel distribution
network and superior technology.
Our endeavour will be to provide constant value addition to customers throughout their
relationship with us, within the regulatory framework. We will provide career
development opportunities to our employees and the highest possible returns to our
shareholders

SWOT ANALYSIS
STRENGTH:
 Multi-channel distribution and one of the largest distribution
networks in India.
 Implementing Six-Sigma process.
 Customer centric products and services.
 Superior investment and risk management framework
 1 Million Policies sold within 3 and half years.
 Company has maximum number of MDRT as well as good
number of HNI advisors.
 Training process of the company is very strong.
 Different plan for different peoples
 According to the change in surrounding environment like changes in
customer requirement
WEAKNESS:
 COMPANY does not penetrate on the rural market at a time.
 There is no plan for the low income group.
 Fees for the advisor is high than the other company.

OPPORTUNITY:
 Insurance market is very big, where company can expand its
horizon in insurance industry.
 Though good investment and insurance it is easy to top Indian
customers.
 The huge insurance market (77%) is left so company has
opportunity to expand our products.
 To associate with the more number of HNI.
THREATS:
 ‘OLD HABITS DIE HARD’: Its still difficult task to win the
confidence of public towards private company.
 The company is facing major threats from LIC -which is an only
government company.
 Plans for all income groups is not available which can create
adverse effect later on the market share of the company.

KEY PEOPLES OF ORGANISATION
BOARD OF DIRECTORS
Mr. Kumar M Birla
Mr. Donald A Stewart,
Mr. Bishwanath N Puranmalka
Mr. Ajay Srinivasan
Mr. Gary M Comerford
Mr. Suresh N Talwar
Mr. Gian P Gupta
His Highness Maharaja G Singh
Mr. Stephan Rajotte
Dr. Bharat K Singh
INVESTMENT COMMITTEE
• Mr. B. N. Puranmalka

• Mr. Eugene Lundrigan
• Mr. Ajay Srinivasan
• Mr. Vikram Mehmi
• Mr. Mayank Bathwal
• Mr. Fabien Jeudy
• Mr. Vikram Kotak
• Ms. Keerti Gupta

Management
Team
Mr. Vikram Mehmi
President & Chief
Executive Officer
Mr. Mayank Bathwal
Chief Financial Officer
Mr. Mario Braganza
Chief Operating Officer
Mr. E.N. Goveia
Head - Direct Sales
Force
Mr. Amit Punchhi
Senior Vice President -
Third Party Distribution
Mr. Bhavesh Sanghvi
Head - Group Life &
Pensions
Mr. Snehal Shah
Operations
Ms. Anjana Grewal
Marketing &
Communications
Mr. Rajesh Bhojani
DSF Expansion
Mr. K.H.
Venkatachalam
Vice President - Human
Resource
Mr. Fabien Jeudy
Vice President, Chief &
Appointed Actuary
Mr. Lalit Vermani
Vice President -
Compliance
Mr. Melvyn D'souza
Vice President - Risk
Management and
Mr. Vikram Kotak
Vice President -
Investments

DETAILS OF PRODUCTS
Individual Life

Protection
Birla Sun Life Term Plan
Premium Back Term Plan
Saving
Birla Sun Life Insurance Gold-Plus
Supreme Life
Dream Plan
Classic Life Premier
Simply Life
Prime Life Premier
Prime Life
Life Companion
Flexi Cash Flow
Flexi Save Plus
Flexi Life Line
Single Premium Bond
Retirement
Flexi Secure Life Retirement Plan II
Children
Children's Dream Plan

PRODUCTS
Life is unpredictable. But in face of adversity, our responsibilities
towards our parents, children and loved ones need not be compromised.
Insurance planning equips you to smooth out the uncertainties and
adversities that life might send your way, so that it offers a complete
range of insurance products.
1. Protection Plans
2. Savings Plans
3. Child Plans
4. Investment Plans
5. Retirement Plans
6. Group Plans
7. Rural Plans
8. Plans for NRIs
9. Keyman Plans
10. Riders
Insurance Plans

BSLI offers LifeGuard - a set of pure protection plans. Choose from
amongst three different product structures to insure your life and provide
total security to your family, at a very affordable cost.
Level Term Assurance with return of premium
 On death the entire sum assured will be paid.
 On maturity, all the premiums paid will be returned.
Level Term Assurance without return of premium
 No survival or maturity benefits.
You can also enhance the above two policies by adding Accident &
Disability Benefit Rider and Waiver of Premium Rider (WOP).
Level Term Assurance - Single premium:
 No survival or maturity benefits
Protection Plans

BSLI offers a variety of policies that give you the benefits of
protection and the opportunity to save for important assets or events,
like a home, a car or a wedding.
A regular premium unit-linked insurance plan with an assurance of
Capital Guarantee# with the added advantage of flexible liquidity option.
An ideal plan for long term planning with the benefit of liquidity.
The key features of the plan are:
 Flexibility to choose a specific level of protection (Sum Assured),
based on a multiple of the annual premium. You can also choose the
term of the plan.
 At the end of the term, the higher of the value of units or the
guaranteed value* is paid. On death, Sum Assured along with the
higher of value of units or the guaranteed value is payable.
 Facility to make withdrawals from the 6th policy year onwards
till the end of the policy term. Every year withdraw up to 10% of
the value of units.
Savings Plans

 Additional credits payable as a percentage of the initial annual
premium are paid along with the death or maturity benefit.
 Additional insurance for 10 years after the maturity, for an amount
of 50% of the Sum Assured.
 Flexibility to make additional investment with the help of the top-
up facility.
 Flexibility to increase / decrease your annual premium amount
 Facility of Automatic Premium Payment- With this facility you can
take a temporary break from premium payment. **
 Total transparency with the premium allocations, and other charges
declared upfront.
 The guaranteed value of the unit fund is the value of all invested
premiums (premiums net of all charges) along with the declared
bonus interests.
** With Automatic Premium Payment facility, you can avail a
temporary break from premium payment for a maximum of 1 year. This
facility is available once if the premium paying term is less than 15
years and twice, if it is 15 years or more.
You can also enhance your policy by adding Accident & Disability
Benefit Rider, Waiver of Premium Rider and Critical Illness Rider.

A regular premium unit-linked insurance plan with an assurance of
Capital Guarantee# An ideal plan for your long-term savings and
protection requirement.
 Flexibility to choose a specific level of protection (Sum
Assured), based on a multiple of the annual premium. You can also
choose the term of the plan.
 At the end of the term, the higher of the value of units or the
guaranteed value* is paid. On death, Sum Assured along with the
higher of value of units or the guaranteed value is payable
 Additional insurance for 10 years after the maturity, for an
amount of 50% of the Sum Assured.
 Flexibility to make additional investment with the help of the
top-up facility.
 Facility of Automatic Premium Payment- With this facility you
can take a temporary break from premium payment.

 Total transparency with the premium allocations, and other charges declared
upfront.
 The guaranteed value of the unit fund is the value of all invested premiums
(premiums net of all charges) along with the declared bonus interests.
 With Automatic Premium Payment facility, you can avail a temporary
break from premium payment for a maximum of 1 year. This facility is
available once if the premium paying term is less than 15 years and
twice, if it is 15 years or more.
 The capital guarantee is applicable only on the invested premium and the
declared bonus interests.
You can also enhance your policy by adding Accident & Disability Benefit
Rider, Waiver of Premium Rider and Critical Illness Rider.
A unit-linked insurance plan with an assurance of Capital Guarantee
which offers you the benefit of a limited premium payment term. An ideal
plan for protection with wealth creation that offers the flexibility of a
limited premium paying term.
 Flexibility to choose a premium payment term of 5, 7 or 10 years for a
maturity term of 10, 15 or 20 years respectively.

 Flexibility to choose a specific level of protection (Sum Assured),
based on a multiple of the annual premium.
 At the end of the term (maturity), the higher of the value of units or
the guaranteed value* is paid. On death, Sum Assured along with the
higher of value of units or the guaranteed value is payable.
 Facility to make withdrawals from the 6th policy year onwards till the
end of the policy term. Every year withdraw up to 10% of the value of
units
 Flexibility to make additional investment with the help of the top-up
facility.
 Total transparency with the premium allocations, and other charges
declared upfront.
 The guaranteed value of the unit fund is the value of all invested
premiums (premiums net of all charges) along with the declared bonus
interests.
 The capital guarantee is applicable only on the invested premium and
the declared bonus interests.
You can also enhance your policy by adding Accident & Disability
Benefit Rider and Critical Illness Rider.

Presenting Premier Life – The Preferred plan for the Preferred Customer.
 Limited premium payment option: Choose from among a 3, 5, 7 or 10
year premium paying term.
 Choice of sum assured: Choose a sum assured, which is a minimum
multiple of 1 and a maximum multiple of 25 times the annual
contribution.
 Additional allocation of units on a periodic basis.
 Facility to top-up your investment any time you have surplus funds.
 Choose from among four funds, based on your investment objective
and risk appetite.
 Choice to switch between investments options (4 free switches every
policy year).
Flexibility to decrease your sum assured.
 Add-on riders to protect you against any eventuality.
 Loans against the policy.
You can also enhance your policy by adding Critical Illness Rider,
Accident & Disability Benefit Rider.

Presenting Life Time – unit –linked plans that meets your changing needs over a
lifetime. These solutions have been developed to meet your savings, protection and
investment needs at every stage in life.
Protection
 Choose a specified level of protection (available only with
LifeTime).
 Two levels of Sum Assured to choose from (available only with
LifeTime II).
 Flexibility to increase or decrease your sum assured.
 Add-on riders to protect you against any eventuality.

Savings
 Flexibility to increase or decrease your contribution.
 Facility of Premium Holiday, wherein the policy continues even if
there is a temporary break in the payment of annual contribution
(available only with Life Time).
 Facility of Automatic Cover Continuance, wherein the policy
continues even if there is a temporary break in the payment of annual
contribution
 Facility to top-up your investment any time you have surplus funds.
 Additional allocation of units on a periodic basis.
 Loans against the policy.
Investment:
 Choose from among four funds, based on your investment objective
and risk appetite.
 Choice to switch between investments options (4 free switches every
policy year).
You can also enhance your policy by adding Critical Illness Rider, Major
Surgical Assistance Rider, Accident & Disability Benefit Rider, Accident
Benefit Rider (available only with Life Time) and Waiver of Premium
Rider

.
An insurance plan that gives added protection, savings and multiple
options, all in one!
 The flexibility to choose your premium contribution.
 The flexibility to choose amongst three levels of cover (in the form of
sum assured) for the same amount of total annual contribution.
 The flexibility of shifting between the three levels of cover, as you
require.
 The flexibility of receiving your maturity proceeds as a lump sum or in
equal annual installments over 3 or 5 years.
You can also enhance your policy by adding Variety of Riders

An insurance plan that gives you added protection, savings, multiple
options, plus the power of liquidity.
 The flexibility to choose your premium contribution.
 The flexibility to choose amongst three levels of cover (in the form of
sum assured) for the same amount of total annual contribution.
 The flexibility of shifting between the three levels of cover, as you
require.
 The flexibility of receiving your maturity proceeds as a lump sum or in
equal annual installments over 3 or 5 years.
 The flexibility of withdrawing up to 10% of the accumulated value of
your policy, after the first 5 policy years.
You can also enhance your policy by adding Variety of Riders
An ideal plan for those who want to accumulate funds on a regular basis
while enjoying insurance protection.
 Guaranteed Benefits: Guaranteed additions @ 3.5% of the Sum
Assured, compounded annually for the first 4 years of the policy.

 Extended Life Cover: An extended cover for 5 years after the
maturity of the policy, for 50% of the sum assured, at no extra cost.
 Maturity Benefit: At the end of the term, the policyholder receives
the full sum assured, the guaranteed additions and the vested bonuses .
 Death Benefit: The beneficiary receives the sum assured, the
guaranteed additions and the vested bonuses incase the life assured
were to meet with an unfortunate event. In case the life assured is aged
7 years or less, the basic premium paid will be returned.
You can also enhance your policy by adding Critical Illness Rider, Major
Surgical Assistance Rider, Accident & Disability Benefit Rider, Waiver
of Premium Rider (WOP)

As a responsible parent, you will always strive to ensure a hassle-free,
successful life for your child. However, life is full of Uncertainties and
even the best-laid plans can go wrong. Here’s how you can give your
child a 100% safe and assured tomorrow, whatever the uncertainties.
Smart Kid is especially designed to provide flexibility and safeguard your
child’s future education and lifestyle, taking all possibilities into account.
Choose from amongst a basket of 4 plans:
 Smart Kid regular premium
 Smart Kid unit-linked regular premium
 Smart Kid unit-linked regular premium II
 Smart Kid unit-linked single premium II
All these plans offer you:
 Financial Benefits: Regular payments at critical stages in your
child’s life, like Board examinations, Graduation and Post-
graduation.
Child Plans

 Total peace of mind, even if you are not around
 Sum Assured is paid immediately: Ensures that your loved
ones stay financially secure, even in your absence.
 All future premiums are waived: Ensuring that your family is
not financially burdened in your absence.
 Policy benefits continue: The educational benefits of the policy
continue, ensuring that your child can realize his or her dreams
without any hassles.
 Development Allowance: Smart Kid guarantees regular income
to secure your child’s educational career and also ensures his or her
all-round development, for a nominal additional amount. The
Income Benefit Rider takes care of this through an annual payment
of 10% of the sum assured, to your child, till the maturity of the
policy, in the unfortunate event of the death of the parent.
All SmartKid plans can be enhanced with the Accident &
Disability Benefit Rider and Income Benefit Rider. You can also
an Accident Benefit Rider to a SmartKid Regular Premium policy,
and a Waiver of Premium Rider (WOP) to SmartKid unit-linked
regular premium policy.

Life Link II is a unique plan that combines the security of a
life insurance policy with the opportunity of enjoying high returns on
your investments, without the market risks compromising on the
protection of your family!
Death Benefit: The Sum Assured under the product has 2 options, either
500% of the initial premium or 105% of the initial premium. In the event
of an unfortunate death, the beneficiary will receive higher of the value
of units or the initial death benefit, less any withdrawals.
Withdrawal Benefit: One can make partial withdrawals from the
accumulated value of the policy after completion of one policy year.
Flexibility: Choose from four fund options, based on your investment
objective and risk appetite. If at a later stage your financial priorities
change, you can switch between the various fund options, absolutely free,
4 times a year.
Investment Plans

Life Expectancy has been rising rapidly and today you can expect
to live longer than your earlier generations. For you, this increase will
mean a longer retirement life, stretching into a couple of decades. BSLI
Retirement Solutions that combine the best of insurance and investment.
These solutions are developed to ensure your peace of mind for the years
to come.
1. Why plan for retirement?
2. How much should I set aside for retirement?
3. The impact of inflation on your retirement savings
4. Why plan early?
5. About Annuities
Why plan for retirement?
For too many people, the joy of retirement after years of hard work
is eclipsed by the financial uncertainties that it brings. Despite all the
planning and saving, you can never sure whether your money will last a
lifetime. Retirement planning offers a way to ensure a more enjoyable,
Retirement Plans

stress free tomorrow. A prudent plan will ensure that increasing life
expectancy, higher inflation and increasing taxes do not eat away into
your hard earned savings.
How much must I set aside for retirement?
To ensure a comfortable retired life, you would be wise to invest
money into additional avenues like pension plans. How much you need to
invest can be answered by answering some questions such as:
1. How long do you have to save that amount before retirement?
2. Where can you invest your retirement money?
3. How much risk are you willing to take on your investments?

In an era of competitive parity, the only asset that makes a decisive
difference between corporate success and failure is the quality of human
capital. Employee benefits have proven to be an excellent tool to optimize
the retention of talent and improve an organization’s bottom-line. The
quality of an organization’s employee benefits establishes and maintains a
company's image as a caring employer. Optimum care of employees is a
long-term investment that results in a sustained competitive advantage for
an organization in the times to come.
BSLI Group Solutions Advantage:
 An integrated basket of employee benefits solutions that offer
incomparable flexible benefits.
 Sound investment management that focuses on safety, stability and
profitability of the portfolio.
 Personalized financial planning for your employee that takes care
of his/her changing financial needs at every stage of life.
 Quality service initiatives and transparency across all operations,
promising superlative operational efficiency.
Group Solutions

Group Term Assurance : Helps provide affordable cover to members of
a group.
Group Gratuity Plan : Helps employers fund their statutory gratuity
obligation in a flexible and hassle-free manner.
Group Superannuation Plan : A flexible scheme (defined benefit and
defined contribution) to provide a retirement kitty for each member of the
group.
Group Term Assurance:
BSLI flexible group term solution helps provide affordable cover to
members of a group. The cover could be uniform or based on
designation/rank or a multiple of salary, and can be extended to all
employees between the ages of 18 and 65 years. The benefit under the
policy is paid on the event of the member’s death to the beneficiary
nominated by the member. It is a one-year renewable policy where one
master policy covers all proposed employees comprising the group, with a
minimum group size of 25 persons. New members can join the group and
outgoing members can leave the group at any point during the policy
term.

Highlights include:
 Greater convenience for the employees with relaxed underwriting
and medical requirements.
 "Free Cover Limits" with simplified underwriting depending upon
the number of employees in the group and the level of cover
chosen.
 Guaranteed benefit: On death during the term of the contract
(while in service), the sum assured will be paid to the beneficiary
of the employee.
 Choice of additional coverage in form an Accident and Disability
Benefit Rider and Critical Illness Cover
 Premium is viewed as a business expense in the year of payment.
Group Gratuity Plan:
BSLI group gratuity plan helps employers fund their gratuity obligation
in a scientific manner. Employers can avail of the tax benefits as
applicable to approved gratuity funds. The plan can also be customized to
structure schemes that can provide benefits beyond the statutory
obligations.
Highlights include:
 Wider choice of investments with Market Linked Plans - to meet
the diverse financial goals. We offer 4 investment options (short-

term debt, debt and balanced and capital guarantee plan) where
investments will be made in accordance with the fund objectives.
 Transparency through Daily disclosure of Unit Value and regular
disclosure of the portfolio of each of the investment option
 Flexibility through switching and contribution redirection option to
enable reshuffling of portfolio
 Bundled Life Cover greater value to the employee by packaging
life insurance cover with the gratuity, with minimal amount of
underwriting.
 Actuarial services to provide a scientific estimation of the gratuity
liability.
 Low explicit charge structure with the conditions for exit
specified upfront.
 Enhanced service levels through faster claim settlement, easier
access to information and regular statements.
 Complete end to end solution in the legal and regulatory
approval process for scheme set up or transfer
Employee Benefits:
 The contribution made by the employer is not included in the value
of taxable perquisites in the hands of the employee.
 Gratuity received up to Rs 350000 is exempt from Income tax under
Sec 10(10)

Employer Benefits:
 Annual contribution up to 8.33% of salary bill in a financial year is
allowed a deduction for the purpose of computation of profits and
gains of business.
 Contribution towards past service liability is allowed as deduction
as per the Income Tax rules.
Group Superannuation Plan:
BSLI Superannuation Scheme (for both Defined Benefit and Defined
Contribution funds) offers substantial benefits to both employers and
employees. The employer and employee can avail of tax benefits
applicable to an approved superannuation trust. The scheme will provide
for a retirement fund for each participating employee. An employee would
be able to choose from various annuity options or opt for partial
commutation of corpus at retirement.
Highlights include:
 Wider choice of investments with Market Linked Plans - to meet the
diverse financial goals. We offer 5 investment options (short-term
debt, debt, balanced, growth and capital guarantee plan) where
investments will be made in accordance with the fund objectives.
 Control - Each member/employer can exercise greater control over
investments by choosing one or more of the investment options.

 Multiple Annuity Options - 5 annuity options and open market option
 Transparency - Transparency through Daily disclosure of Unit Value
and regular disclosure of the portfolio of each of the investment option
 Flexibility - Flexibility through switching and contribution redirection
option to enable reshuffling of portfolio
 Low explicit charge structure with conditions for exit specified
upfront.
 Enhanced service levels through faster claim settlement, easier access
to information and regular statements.
 Complete end to end solution in the legal and regulatory approval
process for scheme set up or transfer

BSLI Rural Products are designed to meet the needs of the rural
consumers. These products offer the following features:
1. Low and Affordable Premiums
2. Life Cover
3. Savings Option
4. Hassle free procedure
BSLI offers 2 specially designed rural plans.
a) BSLI – Endowment Plan
b) BSLI - Regular Premium
BSLI Endowment Plan:
BSLI offers the following features:
 Life Cover and Savings
 Regular Premiums
 Age at entry 18 - 45 Yrs
 Premium Mode Half Yearly / Yearly
 Term 5,10,15 Yrs
 Sum Assured Rs.5,000 -20,000
Rural Plans

 Premium / Year Rs. 507 - 553 ( SA: Rs.10,000)
 Maturity/Death benefit Sum Assured
BSLI - Regular Premium:
BSLI is a regular premium policy with the following features:
 Individual policy
 Only Life cover
 Term - 3 & 5 Yrs
 Age independent premium
 Age at entry 18 - 45 Yrs
 Sum Assured Single
 Premium / Year Rs 50 – 200
 Maturity/Death benefit Rs.5,000 - 20,000
 Death Benefit Sum Assured
NRI Plans:
Plans for NRIs

Being away from India doesn't mean you have to compromise the safety
and security of your loved ones. In fact, your savings from your time
overseas can be easily canalized to meet your family's needs - now and in
the future. So, whether its your dream to retire in your hometown; to
secure funds for your children's education; or to build assets, BSLI has a
range of solutions that can be customized to meet your needs.
IRDA
(INDIAN REGULATORY DEVLOPMENT
AUTHORITY)

IRDA:
The insurance sector has been opened up in India, as there was an urgent need.
The international experience indicates those country with a liberalized insurance sector
have witnessed a rapid growth in premium volumes enhancing the domestic saving rate.
This happened in China, Malaysia and Singapore where a competitive market has led
to improvement in Services and quicker settlement of claims. It is also important to note
that competition will bring about advancement in information, communication and
technology. And rightly therefore a decision was taken by the Government of India to
open up Insurance sector. The establishment of IRDA in the month of April 2000 has
been important development in this direction, making the end of monopoly in the
insurance sector.
WHY INSURANCE IN INDIA:
• Only 22% of the insurance population has been extended cover. Market
penetration is low and the potential to exploit is high.
• Insurance premium per capita is very low.
• Lack of comprehensive social system benefit and welfare means that demand for
pension products is high.
• Huge middle class of approximately 300 Million.
• Existing insurance company score low on customer service front.

The insurance market registered growth in the Asian region even though India’s share in
global insurance is less than 0.5% (1988) as compared to USA (24.2%) and Japan (21%).
Studies have reveled that in an emerging market, as disposable income rises, Insurance
premiums as a ratio of GDP shoots up. The confederation of Indian Industry projected a
growth of Life Insurance premiums from Rs. 350 Billion at present to Rs.140 Billion.
The growth of non-life insurance premium is expected to increase from 75 billion to 375
billion. Out of which, only 10% is tapped by the existing insurer.
Insurance even more than banking is a volume game. A very exclusive approach
in view is unlikely to provide meaningful numbers. Currently, insurance is bought for the
purpose of tax-benefits. A higher percentage of business is in the rural market. The share
of rural new business insurance total new business is 55% in terms of policies and 47%
in terms of sum assured. However, this needs to be viewed in the light of some recent
issues that have been raised regarding as to what constitutes the rural market. Therefore,
private insurers will be best served by middle market approach, targeting the customer
segments that are presently unexploited.
How many Indians are aware that LIC has more than 60Products and GIC has
more than 180Products? Not only there is a reduction in the premiums of Life Insurance
products have long overdue since Indian morality rate has decreased three folds in the
last 50years. There is also scope to increase the yield on life insurance policies (presently
6%) with proper risk management in place.
It is been debated that insurance business does not produce profit in the first five
years cross subsidization is a feature of Indian market. Even the first portfolio vote that is

considered profitable, cross subsidizes other departments. Tariffs reduction is likely to
reduce profits; further insurers have to institute proper claims management progress in
order to extract efficiencies. At present life insurance business in the country is taxed at
12.5% of the profit in financial year. The government is soon to present a new model of
taxing life insurance companies at international rates.
New entrants should be well advised to look ahead to the stage where brand
strength will be a competitive advantage and sketch their alliances accordingly. In fact,
we believe that alliance related to distribution rather than to produce or technology will
prove most valuable in the long run.
Banks and financial companies will emerge, as attractive distribution channel for
this insurance trend will be led by two factors, which already apply in other world
market. First Banking food insurance, fund management and other financial services
companies are being to increase their profitability and provide maximum value to their
customers. Therefore, they are themselves looking for a range of products to
distribute.
In other market notably Europe; this has resulted in bank assurance. Bank
entering into the insurance business in India to bank hope to maximize expensive
existing network by selling a range of products more of a loss alliance between insurance
and bank than a formal ownership. Some Indian entrants like ICICI, HDFC and Reliance
hope to ride their existing network and customer bases.

CHANNEL DEVELOPMENT
 WHY TO RECRUIT
 WHO TO RECRUIT
 HOW TO RECRUIT
 RECRUITMENT ACTIVITIES
 WHAT TO CHECK WHILE WE ARE RECRUITING
 ROLE OF ADVISOR
 WORKING ENVIRONMENT
 DO YOU POSSESS
 SUPPORT PACKAGE FOR SCUCCESSFUL ADVISOR
 EXTENSIVE TRAINING FOR SUCCESSFUL ADVISOR
 EXTENSIVE INVESTMENT IN ADVISOR TRAINING
 PAYMENT & BENEFIT – COMMISSION STRUCTURE
 RECOGNITION PROGRAMS
 CAREER PROGRESSION & FUTURE OPPORTUNITIES

WHY TO RECRUIT
There are two aspects of employment in the insurance sector today. One is
Permanent Employment, for sales, operation, IT support, back office
services and So on. We are also offering the other kind of employment –
for people to sell Life Insurance – they are called ‘Life Advisors’. Or
‘Financial Advisors’. This is a big area of employment.
• Because we are supposed to!!
• That the way to do this business.
• More recruits, more active advisors, more BDA
WHO TO RECRUIT
Quality Deptt. has given some indicators in terms of what are the common
traits(Q-SCORE) of our successful advisors-
The commonalities were
 Age : between 30 -45
 Education : graduate
 Family Income : above Rs. 2 lacs p.a.
 The important fact to remember is that 61% of our RED category
advisors do not fall into any of this category.
• This is a broad pointer for us to remember what are the his/her profile

• Some other pointer from Quality
• Most of the RED category advisors FAILED in the DISC profile –
which means that DISC is good indicator of chanced of success or
failure
• Successful advisors usually have 2 years of work exp. In their current
profession
• Small time businessmen / entrepreneurs –v. successful profile
• Women/Housewives are very successful- however they have not been
sustainable over long periods. They usually have become inactive after
6 – 7 months of joining. But till the time they are working, their
average WAPI & Productivity is very high compared to others.
• People who are new to the city are least probable to do well.
Who to recruit?
• High probability of Success
• Tax/ Financial Consultants, CAS
• Bond / Mutual Fund Agents
• LIC Agents – Surrogates
• Small business owners

 Average Profile
• Women
• Students
• VRS / retired Personnel
 Avoidable Profiles
• New to the City
• Income Profile – Approx Rs.1 Lac P.A.
• People who do not own their transport
 THE MOST SUCCESSFUL PROFILE – THE PERSON WHO HAS
BEEN MANAGED WELL BY YOU.
How to Recruit?
 Things which you should have while meeting the prospect.
 BOP Presenter.
 Reward points booklet OR take a copy of the catalog from the
website – show the gifts, a prospect wouldn’t understand points, but
will value the gifts.
 Advisor Manual - can show how the manual can answer many
procedural issues.

 Talk about email id & tech support – the prospect would like to
know what all ill the company give
 My Market show 100 – show the booklet and stress its importance.
 Copy of any certificate – MDRT certificates, Sales Champion
certificate etc to show recognition.
 Insist on doing the BOP presentation – it gives a complete picture
of what you have to present & answers a lot of questions.
 Stress on different things to different profiles – change your
proposition as per the customer.
 Women – Rewards, - gift items, household goods, gold
 Young marketing background – career Pinnacle.
 Tax/ MF/ LIC Agents – Rewards & Recognition, Star Clubs.
 CAs – foreign trips, preferential treatment in all aspects, don’t talk
about commissions, stress on the extras.
 Small businessman / Entrepreneurs – show ROE – Return on
Energy, to the earn the same amount of money from your business,
you would be spending much more time & energy a lot of capital
from your pocket.
THE POWER RENEWAL COMMISSIONS:
 Always, always, always stress on the fact that renewal commissions
ARE THE differentiator from every other sort of business
 Spend lot of time on the Commissions structure given in the BOP

 Try to do an example in front of them trying to portray the
commissions payable for the same amount of business done every
year
 THE EARNING CALCULATOR WILL BE OF THE HELP HERE
Recruitment Activities
 Each of us should have a mix of
Mass Media Activities - Spray &
Pray
Lead Generation activities
Ads, Classified, paper Inserts,
Pamphlets, Banners
Database calling, cold calling, tele-
calling, mailers, mass BOPs, fish
bowl activity, Yellow Pages, Trade
Directories etc.
Over the last one year, the response
from this basket of activities has
gone down drastically, thus forcing
us to be creative to create other
avenues
We need to develop lead generation
activities more so as to have more
people to touch upon and tell about
this career opportunity

• Activities which have done well with us in the recent past:
 Joggers Park
 Summer Trainees
 Mass BOPs
 Database Calling
 Lead Generation Activities
 Tele Calling set ups
• Some more ways on how to recruit:
 Database Attack – can be done through a trainee.
 Cold Calling – helps a lot as the respondent does not waste your
time by dilly dallying.
 RWA Activities – Tambola or children painting competition-
gives real time leads, cost effective per lead.
 Look at level MBA colleges for Pinnacle probable.
 Source local databases – Cable TV Service providers, home
delivery caterers.
 Fish Bowl Activity- in high football places.

Things to check while recruiting:
• ENERGY, ENERGY ……… always check the person’s energy
levels, as this career is all about meeting new people, finding new
prospects and more so handling rejections
• His past/ present occupation gives tremendous insight into his
energy levels
• Show him the path in his current environment how insurance selling
can fit in – lowers the resistance of time availability
• Check his environment – his family locality
• Check whether he can work on his own
• Find out if he is looking for money or career – as he can have both
here
Things to check while recruiting:
• Always try to meet the person at his residence- check for the locality,
his household, standard of living, try to involve the spouse in the
presentation so that they know what they are getting into
• Always check on need for money & a drive to do well in life – if he
has been doing well in life, he will make efforts to do well with us
• Ask questions about his past, find instances of accomplishments

• Keep checking on the pointers & do a mental check list of the
acceptable points
• Be convinced about the profile and then only go ahead
Advisor Role
• To provide ongoing financial advice for his/her client:
 Identify future client
 Making appointments
 Conduct financial review meetings with prospects / clients
 Close sale
 Get referrals
 Provide service to clients
• Follows internal sales & reporting systems:
Working environment:
 To be part of a world class sales team.
 Work from your own office or residence.
 Work full time or part time.
 Earn commission, bonus $ incentives.
 No upper limits in earnings.
 Flexible career.

Your opportunity:
 No startup capital required.
 Flexible working environment.
 Be your own boss.
 Unlimited earning potential.
 To be part of world - class team.
Extensive training to make you a professional advisor:
• State-of-the-art training on :
 Selling skills.
 Product knowledge.
 Relationship skills.
Training delivery through several convenient options :
 Face –to- face.
 Online.
 Self learning.

Some of our high performers get….
YEAR 1 YEAR 2 YEAR 3
Number of policies sold 50 75 100
Average Premium Rs. 16000 16000 16000
Total primium earned Rs.
800000
1200000 1600000
Average commission including
bonuses estimates @ 22.5%* 180000
270000 360000
Earnings from new business Rs
180000 270000 360000
Commission on renewal
premium @ 6%
48000 72000
For year 2,3 & 3% after that 48000
Earnings from renewal business
Rs
48000 120000
Total earnings Rs. 180000 318000 480000
 Depending on the product mix commission can go upto 35% in of
first year, 7.5% in the 2nd
year & 3rd
year & 5% 4th
year onwards?

• Recognition programs :
 Foreign trips & seminars.
 Select club memberships:
1. Birla Sun Life club.
2. Birla Sun Life star club.
 MDRT Membership.
Career progression & future opportunities:
• Exclusive program for high potential achievers.
• Hand picked advisors.
• A fast track career path.
• Recognition as “Tiger “
• Continue doing your business.
• Criteria.
 -Age –25 –40 years
 -At least 1 year in system
 -Case count 2 per month
• Part time career as a Trainer.
• Conduct foundation programs.
• Share best flied practices.

• Replicate your business.
• Continue doing your business.
• Criteria.
-Age 25-45 years
-At least 6 months s in system
- 2 case count per month
Fast track pinnacle programmes:
• A full time career as audit manager
• Greater earning potential
• Personal Development
• Performance criteria
-Age 25-45 years
-At least 6month in system
-30 issuance within 6 months
Pinnacle programmes:
• A full time career as a unit manager

• Greater earning potential
• Personal Development
• Performance criteria
-Age 25-45 years
-At least 1 year in system
-Average 2 case count per month
Agency champion:
 Take your business to the next level
 Entrepreneurs ,develop your own business
 Recruit new advisor and make your own team
 Increased reach and earning potential
 Criteria
-At least 1 year in system
-Minimum 36 policies and 3.6lacs premium
-Selection process( assessment center)
Next steps
 Confirmation of mutual interest
 Selection interview

 Profiling test dates
 Draft payment favoring
 Birla Sun Life Insurance Ltd’
 payable in mumbai
 Finalize Training Dates, venue
Support team the Company:
 Field visits
 Training on products
 & selling skills
 regular business reviews
 be a coach & mentor
 recognize high performers
 help you become financially independent
Expectations of team
• Achieve sales targets
• Participate in all meetings
• Attend all training programs
• Weekly reviews at the office
• Follow the sales process
• Follow weekly reporting process

INSURANCE ADVISOR AGREEMENT
Insurance advisor it is a kind of agreement done between advisor to be recruited
and Birla Sun life Insurance Company Ltd.
BSLI is desires of appointing the as its Insurance advisor for soliciting and
procuring life Insurance business for on behalf of BSLI and to provided various services
the policy holders. Similarly Insurance advisor has to obtain and Insurance license to act
and Insurance agent under Section 42 of Insurance act 1938 and it’s desires of being
appointed as Insurance advisor of BSLI
This is the kind of agreement which each and every advisor has to adhere. It’s
agreement give the brief discussion effective date of appointment, area of Insurance,
advisor minimum performance requirement and service standards others conditions
confidentially to be maintain and compensation and remuneration.
2. Effective Date and Appointment as Insurance Advisor:
2.1- This Agreement shall come into force on and from the date of issue of the
license to the Insurance Advisor to act as an insurance agent, provided that the
Company may choose, in writing, a date other than the date of issue of the license
on and from which this Agreement shall come into force (such date of coming into force
to this Agreement referred to as “ Effective Date ” in this Agreement). However, where
the Insurance Advisor already holds a valid subsisting license before execution of this

Agreement, the Effective Date of this Agreement shall be the date of execution of this
Agreement.
2.2- BSLI hereby appoints the Party of the Other Part as Insurance Advisor and the Party
of the Other Part hereby accepts his appointment as an Insurance Advisor of BSLI .
2.3- The appointment, continuance and functioning of the Insurance Advisor shall
be also governed by and shall be subject to the provisions of the Applicable Laws.
3. Business Area of Insurance Advisor:
3.1- The Insurance Advisor will be entitled to solicit insurance business from such
territories (and whether in India only or outside of India as well ) as shall be informed to
the Insurance Advisor separately (such area referred to as “Business Area” and, area
other than Business Area will be referred to as “Non-Business Area”). Where the
Insurance Advisor proposes to source business from any Non- Business Area, he shall
obtain the prior approval of BSLI. would be entitled to change / transfer his appointment
to any other area.
3.2- The Insurance Advisor further agrees that even within his Business Area, he shall
not solicit or procure life insurance business from any place/location which is on the list
of Non-Serviceable Pin codes (“Serviceable Pin code” refers to pin codes of such areas
where BSLI can provide customer service to its customers / policyholders, and any pin
code other than Serviceable Pin code refers to “Non- Serviceable Pin codes”). The list of
Serviceable Pin code areas as updated from time to time, Is available/posted on the
Restricted Website Area and no separate communication in this regard will be sent.
3.3- The appointment of the Insurance Advisor for a Business Area shall be without
prejudice to BSLI’s right to appoint any other insurance advisor(s) in / for the same

Business Area and such appointment of any other insurance advisor(s) shall not entitle
the Insurance Advisor to claim any relaxation in the Minimum Performance
Requirements applicable to him, nor shall accrue in his favour any cause of action.
4. Minimum Performance Requirements and Minimum Service Standards:
4.1- The Insurance Advisor shall at all times fulfill the Minimum Performance
Requirements in terms of new business, premium income, number of proposals, number
of lives insured or on any other criteria as stipulated by BSLI from time to time
(hereinafter referred to as the “Minimum Performance Requirements”). BSLI may
stipulate from time to time the Minimum Performance Requirements and any revision
thereto, for a specified period(s) or for any shorter period(s) within such overall specified
period(s) or to specify the Insurance Product(s), which the Insurance Advisor shall solicit
and procure for BSLI . The Minimum Performance Requirements (MPR) criteria would
be intimated by BSLI to the Insurance Advisor in writing or by Email or by posting the
same on the Restricted Website Area.
4.2- The Insurance Advisor would take all reasonable steps to conserve the insurance
procured by him. He shall also endeavor that the policyholders for whom the is acting as
the insurance adviser pay their premiums regularly and timely. The Company will be
entitled to fix minimum service standards / service measures (collectively ‘Minimum
Service Measures’) in respect of the Insurance Advisor. Such Minimum Service
Measures would be intimated by BSLI to the Insurance Advisor in writing or by Email
or by posting the same on the Restricted Website Area and the action that can be taken in
case of the Insurance Advisor not being able to achieve the Minimum Service Standards.

5. Other conditions:
5.1- Without prejudice to the generality of the application of the provision of Applicable
Law, the Insurance Adviser shall scrupulously follow, adhere to and affirm to comply
with the Code of Conduct prescribed by the Insurance Regulatory and Development
Authority (Licensing of Insurance Agents) Regulations, 2000, as amended from time to
time (hereinafter referred to as the “Code of Conduct”) as though the said Code of
Conduct has been explicitly set out in and forms part of this Agreement.
5.2- The Insurance Advisor shall not allow or offer to allow, either directly or indirectly,
as an inducement, to a prospect or a policyholder, to take out or renew or continue a
policy, any rebate of the premium payable under the Policy or of the commission payable
to him; nor shall he offer any other rates, advantages, terms or conditions than those
offered by BSLI. The Insurance Advisor specifically confirms his awareness of and
continued adherence to the provisions of Section 41 of the Insurance Act, 1938. Breach
of this clause will entitle BSLI to terminate this Agreement forth with and without any
notice.
5.3- The Insurance Advisor agrees and undertakes to abide by the following conditions:
5.3 a- The Insurance Advisors shall not to obtain / seek / provide / give undue favors or
graft from / to any employee of BSLI or any co-advisor or any person, customer or
policyholder of BSLI.
5.3 b- The Insurance Advisors shall not accept / give gift of substantial value (greater
than Rs 1,000 or such amounts as BSLI may specify ) from / to any employee of BSLI or
any co-advisor or any person, customer or policyholder of BSLI in connection with any
matter or dealing concerning BSLI 5.3 c- The Insurance Advisor shall operate with
values and standards befitting the standing of BSLI.

5.4- In the event of violation of Code of Conduct or any of the guidelines / operating
instructions of the Company or on happening of any act of commission or omission
which constitutes a malpractice, BSLI shall be entitled, without prejudice to its right of
termination of this Agreement, to warn the Insurance Advisor or require it to take any
steps or do any act in rectification of any such act, and Insurance Advisor agrees to act in
accordance with any such communication.
5.5- The Insurance Advisor shall be responsible for the accuracy, truthfulness and
completeness of the information furnished in the Agent’s Confidential Report in proposal
forms logged by him or otherwise made available to BSLI in respect of any proposal.
5.6- The Insurance Advisor shall, promptly and in any case not later than the time
stipulated by BSLI in that behalf transmit to the concerned office of BSLI all proposals
for insurance and all other documents procured or received by or called for from him.
This would include but shall not be restricted to customer’s / policyholder’s proposal
forms, supporting or other documents, information, payment instruments, letters /
communications addressed to BSLI and documents relating to assignment / nomination,
Insurance Advisor shall ensure compliance with Section 64 VB of the Act.
5.7- The Insurance Advisor shall not and is not authorized to accept any money, in case
from any prospect / customer / policyholder. Where any such person wishes or proposes
to make any payment in cash, the Insurance Advisor shall direct him to the appropriate
office of BSLI for making such payment personally or advise him of the permissible
modes of payment to BSLI. Insurance Advisor can accept cheque, demand draft or other
payment instruments (not being a bearer cheque) from a prospect or a policyholder if and
only if they are drawn in the name of BSLI. Without prejudice to the other provisions of
this Agreement providing for indemnification to BSLI by the Insurance Advisor, the

Insurance Advisor specifically confirms and undertakes to hold BSLI safe, harmless and
indemnified at any time and at all times against any demand, claim , action or proceeding
arising from any breach, whether intended or not, of the provision of this clause. The
Insurance Advisor further confirms that where he accepts any cash in breach of this
clause, he shall be acting an agent of the customer / policyholder till the time the cash in
deposited by him with BSLI, and will continue to be such agent till he continues to hold
any cash accepted from such customer / policyholder.
5.8- The Insurance Advisor shall attend all meetings, workshops, trainings and briefings
conducted by or on behalf of BSLI to create / enhance awareness as to the Insurance
Products, business plans and policies of BSLI and any other matter of relevance to them
of which reasonable notice has been given to the insurance advisor. In particular the
Insurance Advisor shall attend all training and refresher sessions for Insurance Advisors
unless prevented by a cause, which in the opinion of BSLI is reasonable.
5.9- Where the Insurance Advisor intends to bring out or publish any material in any
form through any medium, concerning BSLI, its business or its Insurance Products, the
Insurance Advisor shall obtain prior written approval of BSLI. Further, he shall observe,
follow and comply with the provisions of the Insurance Regulatory and Development
Authority (Insurance Advertisements and Disclosure) Regulations, 2000 of the same.
5.10- The Insurance Advisor shall solicit and procure life insurance business for BSLI
and discharge his obligations under this Agreement in accordance with BSLI’s corporate
objectives and with particular regard to BSLI’s image and standing in the industry and in
the community.
5.11- The Insurance Advisor shall observe, follow and comply with all the
communication, directions and instructions given by BSLI from to time, either generally

or with particular reference to the Insurance Advisor. Such communications, directions
and instructions may be sent by courier, email, post, and fax or may be posted on the
Restricted Website Area.
5.12- The Insurance Advisor shall familiarize himself with the Application Law as in
force time to time and which has a bearing on the discharge of his obligations as an
insurance agent; provided that in the event of any change in the Applicable Law resulting
in a dilution or abrogation of his obligations under this Agreement, to the extent not
provided otherwise, the Insurance Advisor shall continue to be bound by the obligations
as were existent prior to such change, unless expressly approved in writing by BSLI, or
unless inconsistent with Applicable Law.
5.13- The Insurance Advisor shall not solicit or procure life insurance business for or
promote the sales or distribution of the Insurance Products of any other Insurance
company or seek or obtain or commence any employment in any other life insurance
company so long as this Agreement is in force and for a period of six months after its
termination. BSLI may however in writing waive the conditions under this sub clause.
5.14- The Company will be entitled to levy charges of deduct them from amounts
payable to the Insurance Advisor as it may deem fit in respect to any of the services
provided by the Company to the Insurance Advisor.
6. Compensation and Remuneration:
6.1- As compensation and remuneration for the due performance of his obligations
under this Agreement, the Insurance Advisor shall be paid commission at such rates as
may be notified by BSLI to the Insurance Advisor from time, subject to deduction of
applicable taxes under the law in force from time to time in respect of policies effected

through the insurance Advisor; provided that the Insurance Advisor may be paid
commission for effecting the revival of lapsed policies subject to the provision of Sub-
section(2A) of Section 40 of the Act. The Insurance Advisor agrees to provide his
income tax PAN number, or if acquired subsequently, immediately after the same has
been so acquired. In the event of failure to provide PAN number, the Company will be
entitled to block the payments of the Insurance Advisor.
6.2- BSLI shall be entitled to deduct the service tax (or any similar tax, in lieu of or in
addition to service tax), including any cess, surcharge or similar tax thereon, from the
commissions or any other amounts payable to the Insurance Advisor. However, in best
commercial interests BSLI may decide to recover only a part of such taxes and bear the
rest.
6.3- BSLIshall be entitled to revise (upwards or downwards) the rates of commission, as
in force from time to time, by notice in writing to the Insurance Advisor in any one of the
following manner.
6.3 a- by a written notice to the Insurance Advisor; or
6.3 b- by posting the revised rates on the Restricted Website Area; or
6.3 c- providing copies of the revision to all the offices, branches, outlets or franchisees
of BSLI.
6.4- The Insurance Advisor shall be deemed to have notice of the revised commission
rates at the earliest of (a) on receipt of the written notice as per (a) above; or (b)
publication or posting on the Restricted Website Area as per clause (b) above; or (c)
copies of such revision being made available to BSLI office, branch, outlet or franchise
nearest to the address of the Insurance Advisor as per clause (c) above.

6.5- BSLI shall be entitled to specify (and revise) differential commission rates for
different Insurance Products and based on various parameters including new business
premiums, renewal premiums, business done by Insurance Advisor etc.
6.6- In case of any excess or wrong payment of commission or any amount to the
Insurance Advisor or any commission or any amount which subsequent to their payment
becomes recoverable or receivable from the Insurance Advisor for any reason
whatsoever, BSLI shall be entitled to adjust such amounts (which have been paid in
excess or wrongly or have to be received / recovered back ) in the subsequent payment(s)
to the Insurance Advisor, Alternatively, or where no amounts are due to the Insurance
Advisor, BSLI will require the Insurance Advisor to repay or refund forthwith such
amounts, and thereafter the Insurance Advisor shall repay the amount within 15 days
after the receipt of any communication from BSLI in that regard.
6.7- The payment of commission to the Insurance Advisor after the termination or
cessation of this Agreement or payment of commission to the legal heirs of a deceased
Insurance Adviser shall be as provided in the Applicable Law and in accordance with
such other communications or guidelines of BSLI as may be specified in this behalf.
6.8- Notwithstanding the above, BSLI shall not be obliged to pay any commission or
remuneration to the Insurance Advisor if the termination is on account of fraud or any
criminal conduct or serious violation of Applicable Law.

7. Miscellaneous provisions:
7.1- All forms, applications, documents, properties or securities received by the
Insurance Advisor for or on behalf of BSLI shall be held by him in trust for BSLI, and
shall be promptly handed over to BSLI. Upon termination or cessation of this Agreement
the Insurance Advisor shall promptly deliver / return, to BSLI in good condition all
forms, application, documents, properties or securities and all sales literature, manuals
and computer software received from or for or on behalf to or provided by BSLI In the
event of failure of the Insurance Advisor to do so, BSLI shall be entitled to inform about
such failure to IRDA, to organizations with which the Insurance Advisor has
employment or to his business associates including any insurance company of which the
Insurance Advisor becomes or proposes to become the insurance advisor, and further I
BSLI will not furnish the NOC to the Insurance Advisor till such time the failure
continues.
7.2- The Insurance Advisor shall indemnify and keep indemnified and save harmless at
all times BSLI in respect of any indebtedness cast on BSLI or in respect or any claim,
loss or damage or any action or proceeding of whatever nature or for any notices or
expenses arising out of or caused by any act of omission of the Insurance Advisor in
relation to any matter specified in this Agreement or breach of any provisions under this
Agreement failing which BSLI may, without prejudice to any other right or remedy
available to it under law, recover such debt, claim, loss, damage or expenses from any
money due and payable to the Insurance Advisor.
7.3- The Insurance Advisor shall allow officers of BSLI (including its auditors and
advisors), authorized in writing by BSLI , to inspect and make copies of all / any records

maintained by the Insurance Advisor in relation to any subject matter under this
Agreement.
8. Confidentiality:
8.1- All records, information and documents pertaining to BSLI or any of its customers /
prospect / policyholder, including any personal data obtained from or for on behalf of or
provided for BSLI and the contents of this Agreement will constitute Confidential
Information. For the purpose of this clauses, any data, information or knowledge will
also constitute Confidential information which is not in public knowledge and whether or
not marked or identified as confidential and which is disclosed by BSLI to the Insurance
Advisor and whether written, oral or in any other form (including without limitation,
computer storage, tape or other electronic media forum).
8.2- The Insurance Advisor undertakes and aggresses not to disclose, directly or
indirectly, and in any manner what so ever, whether during the currency of this
Agreement or any time thereafter Confidential Information. However, such obligation of
confidentiality will not apply in one or more of the following:
8.2 a- if and to the extent the disclosure is required by any law or any court, government
agency or regulatory authority;
8.2 b- if the information is or becomes available to public (other than as a result of prior
unauthorized disclosure by the Insurance Advisor);
8.2 c- if the information is or was received from a third party not known by the
Insurance Advisor to be under a confidentiality obligation with regard to such
information; or
8.3 d- if the Insurance Advisor is able to prove that the was lawfully in possession of the
information (having been received on a non-confidential basis)

8.3- The Insurance Advisor aggress not to disclose or provide copies of any such
materials, documents and other information, which are meant for internal circulation
only, to any third parties.
9. Intellectual Property Rights:
9.1- The intellectual property rights (in the nature of trademark or copyright or any other
right) in the brand name , product names, logos, designs, colour schemes, names, marks,
designs, drawings, colour, artistic work / manner etc (hereafter collectively referred to as
“marks”) as may be allowed by BSLI to be used by the Insurance Advisor shall vest
solely and exclusively and at all times in BSLI and the Insurance Advisor aggress and
undertakes not to set up an adverse claim in respect to the Marks at any time either
during the currency of this Agreement or at any time thereafter. The Insurance Advisor
also agrees and undertakes that it shall not allow the usage of Marks by any other third
party.
9.2- The Insurance Advisor is permitted to use only such Marks in the course of
providing services under this Agreement as agreed to by BSLI in writing. Where any
such permission is given for use of any Marks (one or more), such permission will
operate as a limited, revocable and non-exclusive permission for usage of such Marks
and shall be subject to conditions and restrictions as may be specified. The permissions
granted or to be granted will not include the permission / right, copy, modify, merge, or
transfer the Marks or any of them. The Insurance Advisor agrees and undertakes no to
alter or modify any Marks or add any content to the Marks. He further agrees not to
remove, conceal or obliterate any copyright, credit-line, date-line or other proprietary
notice included in any document, material, or other of BSLI . Any goodwill generated

through the Insurance Advisor’s use of the Marks shall inure solely to the benefit of
BSLI.
10. Usage of Restricted Website Area:
10.1- The Insurance Advisor understands that BSLI provides certain information specific
to insurance advisors on the Restricted Website Area. BSLI will provide, but without any
obligation, such login ID to the Insurance Advisor to access contents specific to the
Insurance Advisor. The Insurance Advisor agrees that they shall be fully responsible for
any action taken through the Restricted Website Area by using his login ID and
password. In the event there is any unauthorized usage or access noticed by the Insurance
Advisor, he shall immediately bring the same to the notice of BSLI . It is clarified that
BSLI will not be obliged to provide or pay for the cost of any internet connectivity,
hardware and software that the Insurance Advisor may require for access to the Website
or Restricted Website Area. The Insurance Advisor further agrees, confirms and
undertakes not to use the Website for any purpose other than the permitted purpose, and
not permit any other person to access the Restricted Website Area through his login ID
and password.
11. Term and Termination:
11.1- This Agreement shall come into effect from the Effective Date and shall continue
to be effective unless terminated in accordance with the provisions provided herein.
11.2- This Agreement shall terminate:
11.2.a- immediately and without any notice on the death of the Insurance Advisor:
11.2.b- immediately and without any notice on the presentation of a petition for the
adjudication of the Insurance Advisor as insolvent:

11.2.c- forthwith by a written notice on any violation by the Insurance Advisor of any
provision of the Application Law; or
11.2.d- forthwith by a written notice on the Insurance Advisor where he incurs any of
the disqualifications mentioned in clauses(b), (c) or (d) of Sub-section (4) of Section 42
of the Act, whether or not his license to act as an insurance agent is cancelled.
11.2.e- forthwith by a written notice where it is found that the Insurance Advisor has (i)
sought / obtained employment or insurance agency of any other life insurance Company
(ii) indulged in any act of commission or omission in consonance with the direct
competitors of BSLI.
11.3- This Agreement shall terminate on the expiry of 15 days notice served by BSLI on
the Insurance Advisor if he-
11.3.a- fails to discharge the obligations under this Agreement to the satisfaction of
BSLI, or commits breach of any of the provisions of this Agreement and does not
remedy the same within 7 days of a notice to that effect from BSLI. No notice of
remedying a breach will be given if it is not capable of being remedied.
11.3.b- acts in a manner prejudicial to the interests of BSLIor to the interests or its
Policyholders. Without prejudice to the generality of the foregoing the Insurance
Advisor shall be deemed to have acted in a manner prejudicial to the interests of BSLI ,
if any averment in the Agent’s Confidential Report or in any document submitted by him
in connection with a proposal for insurance or application for reinstatement of a Policy is
found to be incorrect or untrue.
11.3.c- is found to have made any false or incorrect averment or suppressed any
information, considered material by BSLI, in his application for appointment as
Insurance Advisor;

11.3.d- in the opinion of BSLI, becomes physically or mentally incapacitated to
discharge the obligations under this Agreement;
11.3.e- he fails to achieve the Minimum Performance Requirements or Minimum
Service Standards as specified from time to time.
11.4- Notwithstanding anything contained in this Agreement, both parties shall have at
all times right to terminate this Agreement by written notice to the other of 15 days
without assigning any reason for such termination.
11.5- Upon termination of this Agreement in whatsoever manner BSLI shall be entitled
to publish notices in newspapers and / or in any other media and / or to dispatch
correspondence notifying the policyholders, customers, branch offices, franchisees,
other insurance advisors and the general public of the termination of the agency of the
Insurance Advisor and he being no more authorized to solicit or procure life insurance
business for BSLI or to represent BSLI in any manner. Further, upon such termination,
BSLI shall also be entitled to forthwith stop / suspend payment of any commission
whether or not due in respect of any business done by the Insurance Advisor.
Save as provided in the Insurance Act, no commission shall accrue to the Insurance
Advisor from the termination of this Agreement.
.

RESEARCH OBJECTIVE
 To determine and analyze the Market Potential of the Birla Sun Life Insurance
Company.
 To study the overall scenario currently prevailing in the market, namely, the per
capital income, purchasing power, occupation, literacy rate, etc..
 To do a performance evaluation of Birla Sun Life Insurance products in comparison on
with other insurance companies

HYPOTHESIS
A hypothesis consists either of a suggested explanation for an observable
phenomenon or of a reasoned proposal predicting a possible causal correlation among
multiple phenomena. The term derives from the Greek, hyposthenia meaning "to put
under" or "to suppose." The scientific method requires that one can test a scientific
hypothesis. Scientists generally base such hypotheses on previous observations or on
extensions of scientific theories. Even though the words "hypothesis" and "theory" are
often used synonymously in common and informal usage, a scientific hypothesis is not
the same as a scientific theory.
Hypothesis may be defined as a proposition or a set of proposition set forth as an
explanation for the occurrence of some specified group of phenomenon either asserted
merely as a provisional conjecture to guide some investigation or accepted as highly
probable in the light of established facts. Quite often a research hypothesis is a predictive
statement, capable of being tested by scientific methods, that relates an independent
variable to some dependent variable.
NULL HYPOTHESIS
A null hypothesis is a hypothesis (within the context of statistical hypothesis testing)
that might be falsified on the basis of observed data. The null hypothesis typically
proposes a general or default position, such as that there is no relationship between two
quantities, or that there is no difference between a treatment and the control. The term
was originally coined by English geneticist and statistician Ronald Fisher.

The null hypothesis (often denoted by H0) formally describes some aspect of the
statistical "behavior" of a set of data. The Null Hypothesis is of this project report is that
customers are highly satisfied.
ALTERNATE HYPOTHESIS
Alternative hypothesis is the "hypothesis that the restriction or set of restrictions to be
tested does NOT hold." often denoted H1. Synonym for 'maintained hypothesis.' The
Alternate Hypothesis of this project report is that customers are not satisfied

Research Methodology
While making a study we very often look for what type of research methodology is to be
used in this type of study. For implementation of a proper research methodology we have
to first understand the meaning of research.
Research is a process with the help of which new concepts arises. It is the increase in the
actual knowledge stock. It can be called as movement from known to unknown and vice-
versa. It is also a continuous process. It is a scientific as well as systematic process,
which includes defining and redefining the problem to develop hypothesis, to collect and
define the information/data, to analysis the information and bring out the mother of
Discovery. An individual makes the effort in research and society or public takes its
benefits because the results are usually generalized.
Data collection
The word data means any raw information, which is either quantitative or qualitative in
nature, which is of practical or theoretical use. The task of data collection begins after a
research problem has been defined and research design chalked out. While deciding
about the method of data collection, the researcher should keep in mind that there are
two types of data primary and secondary.
Primary data: -
This is those, which are collected afresh and for the first Time, and thus happen to be
original in character. There are many ways of data collection of primary data like
observation method, interview method, through schedules, pantry Reports, distributors
audit, consumer panel etc. The Team Managers and employees of both the Department
were consulted to get information about procedure of both the online and off line share

trading. But the method used by us for the primary data collection was through
questionnaires.
Questionnaire method
For the collection of primary data I used questionnaire method. A formal list of
questions, which are to be asked, is prepared in a questionnaire and questions are asked
on those bases. There are some merits and demerits of this method. These as under: -
Merits: -
1. Low cost even when universe is large.
2. It is free from bias of interviewer.
3. Respondents have proper time to answer.
4. Respondents who are not easily approachable can also be reachable.
5. Large samples can be made.
2. Secondary data: -
These are those data, which are not collected afresh and are used earlier also and thus
they cannot be considered as original in character. There are many ways of data
collection of secondary data like publications of the state and central govt., reports
prepared by researchers, reports of various associations connected with business,
Industries, banks etc. And the method, which was used by us, was with the help of
reports of the company.
Sample Size
We have meet 100 peoples during requirement Advisor and policy selling after that I
have taken 25 Peoples they have fill up the questionnaire and given response .

DATA ANLYSIS
Ques. Which Birla Sun Life Scheme does you have?
No of Peoples Have BSLI Plan
Health,
10%
Retierment
, 22%
Life, 68%
Health
Retierment
Life
Inference
On the basis of above analysis it has been concluded that around 68% of the policy
holders are having life plan, 22% of them are having Retirement plan and rest of them
are having the health plan.

Question. Are you satisfied with the Insurance plan you have?
No. of people satisfied with the plan
72%
28%
Yes
No
Inference
On the basis of the analysis it has been concluded that around 72%of the people are
satisfied with plan they and rest if them are not satisfied.

Ques. Are you satisfied with the services provided by the company
regarding new plans and schemes?
No. of people satisfied with the
services provided by the company
82%
18%
Yes
No
Inference
On the basis of the above analysis it has been concluded that around 82% of the policy
holders are satisfied with the services provided by the company and rest of them are
not satisfied.

Ques. Are you interested to make more investments in BSLI ?
No. of Peoples want to more
investment in BSLI
67%
33%
Yes
No
Inference
On the basis of the above analysis it has been concluded that around 67% of the
policyholders are interested to make more investments in BSLI and rest of them are
not interested.

Ques. Have you any other Insurance Plan apart from BSLI?
No. of Peoples have other Insurance
Plan apart from BSLI?
78%
22%
Yes
No
Inference
On the basis of above analysis it has been concluded that around 78% people have other
insurance plan apart from BSLI and 22% people have BSLI

Ques. If you get any attractive plan than are you ready to switch over?
People ready to switch to attractive
Schemes if offered by other
companies
82%
18%
Yes
No
Inference
On the basis of the above analysis it has been concluded that around 82% of the policy
holders are ready to switch over if they get good attractive insurance plan and rest of
them don’t.

Ques. If yes, then of which Life Insurance Company?
60%
9%
11%
8%
12%
LIC
BSLI
BAJAJ ALIYANZ
ICICI
Others
Inference
From the above analysis it has been concluded that around 89% of policy holders are
having other insurance plans apart from BSLI , in which around 60 % are having
LIC insurance plans, 11% are having Bajaj Allianz, 9% are having Birla Sunlife, 8%
are having ICICI Pru. and 12% are having other company insurance plans.

Findings
In this study we had find out that in today’s world more then 50% of the total
population is interested in having an insurance policy.
From the study we have concluded that MF sector is adopting better & planned
strategies to attract its customers. Various marketing strategies are also adopted by the
Different players in the market ,our focus is on Birla Mutual Fund apart from which
investors arediversified among various other leaders of different segments.

CONCLUSION
The market potential for private insurance companies is found to be
greater in the long run as most of the Indians are of the opinion that,
private insurance companies would be able to perform well in the future.
The private and foreign insurance companies have to take immediate steps
in appointing more number of agents and/or advisors in addition to the
employees as it has been found out that agents are the best channel to
reach the general public regarding selling of insurance products. The
private and foreign insurance companies have to concentrate on the
factors like 'Prevention of Loss', 'Assured Returns' and 'Long term
Investment'. They can also focus on an insurance amount of Rs. 1 – 2
lakhs with 'money back policies'. Hence, the market has potential. The
private and foreign insurance companies that are taking immediate steps
can tap it easily & rapidly.

SUGGESTIONS
1) Even though most of the policy holders are satisfied with policies, plans
they have but some new attractive insurance plans should be introduce to bind them
not to switch over to other companies insurance plans.
2) The company should find out the no. of people who are not having any of
the insurance plans through an intensive market research and motivate them to get
insured.
3) Leveraging technology to service customers quickly, efficiently and
conveniently.
4) Developing and implementing superior risk management and investment
strategies to offer sustainable and stable returns to our policyholders.
5) Company should target each and every class of the society
6) Company should provide full information to the customers before
targeting so they can take interest

Life insurance project report

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