Final Copy of HDFC Standard Life Insurance Company Limited. by Saiued Moiz 9964529468

HDFC STANDARD LIFE
INSURANCE
EXECUTIVE SUMMERY:
HDFC Standard Life Insurance has core computer in selling and has a
very aggressive sales team. Since it is a services industry where world of
mouth is very important. A negative world of mouth may remove 10 existing
customers on the other hand a positive word of mouth may earn 10
customers. So service should be targeted at a level, which not only should
meet the customer’s expectation but also exceed it.
However understanding the market, consumer preference and

introducing new products to suit different tastes and at the same time
offering a value product would be the key steps to fight competition.
Marketing is an important activity in any organization’s sales strategy.

Marketing helps in promoting the products in the targeted market and create
a recall value and branding to the products. Marketing department perform
the initial market study for the suitability of the product launches; study the
market requirements in the existing markets to further strengthen the market
capitalization identity the feature needed for a longevity of a product.
HMS INSTITUTE OF TECHNOLOGY- TUMKUR Page 1

HDFC STANDARD LIFE
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INTRODUCTION
Introduction of insurance:
Insurance is commerce. Insurance product is a financial contract entered into
by parties with a define consensus of mind. Insurance, in its purest from, is a
risk management tool, a security blanket. It provides financial protection
against unexpected events. When we buy insurance, effectively a portion of
risk is transferred to the insurer. This protection comes at a price, but it’s a
function of what we might otherwise find ourselves burdened with.
Whatever stage of life we are at, chances are, and we need insurance.
Definition:
Insurance can be define as” a contract by which insurance agrees to pay the
insured a compensation for specified damage loss or injury suffered in
exchange for periodic payment called premium”
Insurance cannot prevent the happening of the event; it can protect a person
from the financial losses he may suffer after the happening of the event.
Therefore, insurance if aimed at compensating the financial loss suffered an
insured event.
Classification of insurance:
Insurance is basically classified into two categories.
(1) Life Insurance
(2) General Insurance
Life insurance:

HDFC STANDARD LIFE
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This is provided for the payment of sum money on the death of the insured
person due to natural causes or on the expiry of a certain number of years if
the insured person is then alive. Death and life neither of them can be
compensated. Life insurance aims to compensate the ‘Income Earning
Capacity’ of the person.
Events covered in Life Insurance:

In Life Insurance, income –earning capacity of the person is covered. The
loss of the income earning capacity can be on the happening of the following
events when the life is assured.
1. Death.
2. Sickness (critical illness).
3. Accident (Death or permanent disability due to accident).
4. Retirement.
Objectives and advantages of life insurance:

• Protection against Risk of Untimely Death:
Life insurance is a product, with offers protection against the risk of Death
the full sum assured is made available under a life assurance policy, whereas
under other savings schemes, the total accumulated savings alone will be
available.
• Protection during old age:

Life insurance can also be used as a means of saving one’s future. There are
a number of life insurance policies which in addition to life cover also

HDFC STANDARD LIFE
INSURANCE
provide the means of investing one’s income. The sum as per the policy will
be received only after a period of time. This amount thus provides for the old
age.
• Forced savings:
Payment of life insurance premiums is compulsory and becomes a habit.
Saving in other scheme can be easily withdrawn and may be used for less
worthy purpose. Terminatio1n of a life insurance policy by the policyholder
usually results in substantial loss in benefits under the policy to the
policyholder. One is thus encouraged to save and keep one’s policy alive.
• Educational Requirement and Charity:

The object of insurance may be to serve as a security to education funds in
respect of loans advanced for educational purpose or to provide donations to
charitable institution like hospital and school.
• Nomination and Assignment:

The life insured can name the person or person whom the policy money
would be payable in the event of his death the proceeds of a life insurance
policy can be protected against the claims of the creditors of the life insured
by effecting a valid assignment of the policy. The beneficiaries are fully
protected from creditors expect the extent of any interest in the policy
retained by the insured.
• Marketability and Suitability for Borrowing:

HDFC STANDARD LIFE
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After 3 years, if the policy holder finds that he is unable to continue

payment of premiums he can surrender a policy for a cash sum. A life
insured policy is accepted as a security for a commercial loan.
• Loan from the Insurance Company:

A policy holder can take a loan from his insurance company against the
security of his life insurance policy provided the term of the terms of his
policy allow such a loan can be taken usually after a period of 3 years from
commencement of the policy and is a percentage of its surrender value.
• Investment Option.
The unit link products gives comprehensive insurance solution that cater to
an individual’s need of earning potentially high return as well as stay for life.
Thus there is an option to invest money in the products that combine the best
of insurance and investment. In a volatile market conditions it is possible to
secure both as one can hedge the investment with saver investment vehicles
that provide a diversified portfolio.
• Tax Benefits:
The Indian income tax act provides tax concessions to the policy holder both
on payment of premium and on the maturity amount. Under sec 88 the
benefits on premium paid by an individual for life insurance policy on his
own life/on the life of spouse children minor or major, including married
daughters.

HDFC STANDARD LIFE
INSURANCE
• Protection to Wife and Children:

Under sec 6 of the married woman’s property act if a married man takes a
policy of the life insurance on his own life and expenses on the face of it to
be for the benefit of his wife or of his wife and children or any of them, than
it shall be deemed to be a trust for the benefit of his wife and children or any
of them, according to the interest so expressed and shall not so long as any
object of trust remains be subject to the controls of the husband or to his
creditors or from part of his estate. An insurance policy taken by a married
man in the above manner is ideal way to protect the interest of his wife and
children, even after his untimely death.
General Insurance:
Insurance other than life fall under general insurance. It covers loss of every
other physical or non-possession. The loss may be due to fire, theft, accident
etc. the general insurance is further classified into-
• Fire insurance:
It covers movable and immovable properly having monetary value. It covers
the loss or damage to insured property by specific perils
for example: damage of property in manufacturing premises due to fire may
result in total or partial stoppage of production process leading to loss of
profits. Such loss of profit can be covered under loss insurance policy.
• Marine Insurance:

HDFC STANDARD LIFE
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It is of the oldest branches of the insurance. It plays a significant role in both

and internal and international trade. The insurers undertake to indemnify the
insured against the losses occur during transit by rail, road, sea or air.
• Miscellaneous Insurance:
Insurance that takes other fire and marine is known as miscellaneous
insurance. It is covered under the several classes of which motor insurance,
burglary insurance, cattle and crop insurance are most important
Differences between life insurance and Non life insurance (General
Insurance)
• Risk is certain in life insurance and non life insurance:
Every person who is insured is likely to die, and the
income earning capacity will be stopped by death. In
non life insurance the risk is uncertain and the insured
event may or may not result in the loss to the policy
holder
• Life insurance is a long term contract while non life
insurance contracts are one year contracts.
• Difficulty in determining value of human life in
insurance. In non life insurance the value can be
determined with much ease.
• Life insurance is not a strict contract of indemnity. Non
life insurance contracts are in indemnity contracts.
Insurance as investment
HDFC STANDARD LIFE
INSURANCE
Endowment plans are the best selling life insurance product in the
country. This single fact says a lot about how most Indians who get
investment plans to get their lives insured, save on tax build a retirement
corpus and fund their children’s education, among other things.
Endowment plans offers good value to novice investment and those with a
low appetite for risk. They force the habit of regular saving and help to
create funds for lives, many financial goals; and unlike with mutual funds on
stocks, there is no risk of capital erosion. But there is a price you pay for
such certainty; low returns.
Tax- benefits
One of the several reasons given to buy life insurance is to save on
tax. It’s true that there are extremely generous tax breaks to be avoided of
life insurance,
Premiums:
For the salaries, the rebate under section 88 of the income tax act is an
effective way to lower tax rebates under this section, along with investments
with other instruments like PPF and NSC.
Note: if you claim a rebate on investment in insurance but withdraw from it
with in 2 years, the rebate claims will be deemed as tax payable, the amount
of tax rebate that can claim under section 88 in a year on the income that
year.

HDFC STANDARD LIFE
INSURANCE
INDUSTRY PROFILE:
History of insurance:
Insurance began as a way of reducing the risk of traders, as early as
5000 BC and 4500 BC in. Life insurance dates only to ancient Rome; "burial
clubs" covered the cost of members' funeral expenses and helped survivors
monetarily. Modern life insurance started in late 17th century, originally as
insurance for traders: merchants, ship owners and underwriters met to
discuss deals at Lloyd's Coffee House, predecessor to the famous.
The first insurance company was formed in 1732, but it provided only fire
insurance. The sale of life insurance in the U.S. began in the late 1760s. The
Synods in and created the Corporation for Relief of Poor and Distressed
Widows and Children of Presbyterian Ministers in 1759; Episcopalian
priests organized a similar fund in 1769. Between 1787 and 1837 more than
two dozen life insurance companies were started, but fewer than half a dozen
survived. Prior to, many insurance companies in the United States for their

HDFC STANDARD LIFE
INSURANCE
owners, in response to bills passed in 2001 and in 2003, the companies have
been required to search their records for such policies for example reported
that Nautilus sold 485slaveholder life insurance policies during a two-year
period in the 1840s; they added that their trustees voted to end the sale of
such policies 15 years before the.
General information:
Human have always sought securities. This quest for security was an
important motivating force in the earliest formation of families, clans, tribes,
and other groups. Indeed, groups have been the primary source both
emotional and physical security since the beginning of humankind. They
ensured a less volatile source of life necessities then that which ensures
isolated human & families could provide and help their less fortunate
members in the time of crises.
Human today continue their quest to achieve security and reduce risk
uncertainty. We still rely on group for financial stability. The group may be
our employer, the government, or an insurance company, but concept is the
same. In some ways however, we today are more vulnerable that our
ancestors. The physical and economical securities formerly provided by the
tribes or extended family diminished with industrialization. Our income
dependent, wealth acquiring lifestyle renders and our families more
vulnerable to environment and societal changes over which we have no
control.
Humans are exposed to many serious perils, such as property loss
from fire or windstorm, and personal losses from incapacity and death. All

HDFC STANDARD LIFE
INSURANCE
through individual cannot predict or completely prevent such occurrences,

they can provide for their financial effects.
Encyclopedia of finance and banking defines insurance as the
elimination of or protection against risk amenable to actual calculation,
voidance or reduction of losses occurring through misfortunes such as death,
fire, accident, tornado, shipwreck, etc. insurance is a contact between an
insurer and insured where by the insurer identifies the insured against loss
due to specific risks such as from fire, storm and death. Insurance contracts
require an agreement, considerations, capacity, legality, compliance with the
status of frauds and delivery. Insurance is an integral part of most
enterprises, risk management program. Insurance does not prevent losses, it
substitutes a small certain loss (premium) for a possible or contingent large
loss. The insured is indemnified for the amount of loss, for the insured
amount, or for the face of his policy, in return for payment of periodic
premiums.
The principle kinds of insurance are as follows:
• Life-term, ordinary, endowment, limited payment,
group industrial and annuities, with a variety of
combinations of the four basic forms.
• Fire & marine-fire, ocean marine, motor vehicle, inland
navigation, and transportation, tornado and windstorm,
sprinkler leakage, earthquake, riot and civil commotion,
explosion rain, hale, flood, aircraft, etc.
• Causality and surety -automobile liability, liability other
than automobile workers, compensation, fidelity and

HDFC STANDARD LIFE
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surety, burglary and theft, automobile property

damage, accident in health, steam boiler, machinery,
plate glass, etc.
All mutual and legal reserves life insurance companies provide for a
participation in dividends by all policy holders. In this way the cost of
insurance to the insured is reduced.
Four classes of insurance business:
• Life insurance
• Fire insurance
• Marine insurance
• Miscellaneous insurance.
Brief history of insurance sector in India:

The insurance sector in India has come full circle from being open
competitive market to nationalization and back to liberalized market again.
Tracing the developments in India, insurance sector reveals the 360-degree
turn witnessed over a period of almost two centuries.
• 1818 – Oriental insurance company was established.
• 1870– Bombay Mutual Life Assurance Society, the first
Indian life insurance company started its business.
• 1912 – Indian life insurance companies act as the first
statute to regulate the life insurance business

HDFC STANDARD LIFE
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• 1928 – The Indian insurance companies act enacted to

enable the government to collect statistical information
about both life and non life insurance business.
• 1938 – Earlier legislation consol dated and amended to
by the insurance act with the objective of protecting the
interest of insuring public.
• 1956 – 245 Indian and foreign insurers and provident
societies taken over by the central government were
nationalized.
Insurance sector reforms:

In 1993 Malhotra committee, headed by former finance secretary and
RBI governor R N Malhotra was formed to evaluate the Indian insurance
industry and recommended its future direct on. The Malhotra committee was
set up with the objective of complimenting the reforms initiated in the
financial sector. Recommendation included in the report submitted by the
committee
Structure:
• Government stake in the insurance companies to
brought down to 50%

HDFC STANDARD LIFE
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• Government should takeover the wordings of GIC and

its subsidiaries, so that these subsidiaries can act as
independent companies.
• All the insurance companies should be given greater
freedom to operate.
Competition:
• Private companies with minimum paid up capital of Rs.
1 billion should be allowed to enter the industry; no
company should deal in both life and general insurance
through single entity.
• Foreign companies may be allowed to enter the
industry collaboration with domestic companies.
• Postal life insurance should be allowed to operate in
rural areas
• Only one state level life insurance company should be
allowed to operate in each state.
Regulatory body:
• The insurance act should be changed
• An insurance regulatory body should be set up.
Life insurers transact life insurance business; general
insurers transact the rest. No companies are permitted as
per law.
Legislation (as on 1-4-2000):

HDFC STANDARD LIFE
INSURANCE
• Insurance is a federal subject in India; the primary legislation that

deals with insurance business in India is;
• Insurance Act, 1938 and Insurance Regulatory & Development
Authority Act, 1999
• Fire and miscellaneous insurance business are predominant motor and
vehicle insurance is compulsory.
• Tariff Advisory Committee (TAC) lays down tariff rates for some of
the general insurance products.
Customer Protection:
Insurance industry has ombudsmen in 12 cities. Each ombudsman is
empowered to redress customer grievances in respect of insurance contracts
on personal lines where the insurance amount is less than 20 Lakhs, in
accordance with the ombudsmen scheme. Address can be obtained from the
officers of LIC and other insurers.
Need for life insurance:

Maslow’s need hierarchy theory:
Making the person feel “SAFE” other expression of the need for
safety occur when individuals are confronted with real emergencies e.g.
accidents, war, crime, natural calamities, etc. once physical needs are met,
another set to motives, safety or security needs, become motivates. The
primary motivating force here is to ensure reasonable degree of continuity,
order, structure and predictability in once environment. Maslow suggested

HDFC STANDARD LIFE
INSURANCE
that the safety needs are most readily observed in infant and young children
because of their relative’s helplessness and dependence on adults.
Security needs in original context co-related to such factors as job
security, salary increment, safe working conditions, unionization and
lobbying for prospective registration.
Risk and uncertainty are part of life great adventures accident, illness,
thefts, natural disaster. They are built into the working of universe, waiting
to happen. Insurance that is main answer to the vagaries of life. If you
cannot beat the manmade and natural calamities, wealth, at least be prepared
for them and aftermath.
Insurance is contract between two parties one is insurer (insurance
company) and insured (the person or entity seeking the coverage). Where the
insurer agrees to pay the insured for the financial loses arising out of any
unforeseen events in return for a regular payment of the premium.
These unforeseen events are determined as risk and that is why
insurance is called is the risk cover. Hence the insurance is the essential
means to financially compensate for loses that life throws at people-
corporate and otherwise.
India at glance:
• Economy: India is 5th largest economy in the world in
terms of purchase.
• GDP Growth rate: over 6% per year on an average for
the last decade.
• Savings rate: around 26% of GDP
• Estimated middle class population: 300 million

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• Insured population: 70 million

India has an enormous middle class that can afford to by life, health and
disability and pens on plan products. The level of penetration of life
insurance in India compared to other developed nations can be judged by a
comparison of per capita life premium.
Global life insurance trends:
Country life premium per capita U.S. $ in 1994
JAPAN 3817
UK 1280
USA 964
INDIA 800
Life insurance market in India

INDIAN COMPANY FOREIGN COMPANY
HDFC Standard life
Tata Group AIG

HDFC STANDARD LIFE
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Bajaj Allianz
Max India New York
IDBI Principal
SBI Alliance Capital
Bajaj Allianz Chubb
Cholamandalam Axa
ICICI Prudential
Vysa Bank ING
Spic Met Life
Sanmar Group GIO of Australia
Life insurance statistics:

Table showing premium collection by various insurance companies
COMPANY 2006-07(RS.IN 2007-08(RS.IN % GROWTH
MIN.) MIN.)
Kotak 352.1 1271.2 260.98

Mahindra

HDFC STANDARD LIFE
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Bajaj Allianz 633.89 1797.05 183.50

ING Vaysa 179.59 726.27 311.16
AMP Sanmar 63.15 278.82 341.51
SBI Life 718.81 1959.01 172.53
Tata AIG 522.08 1801.55 515.07
ICICI 3641.07 7509.10 106.23
Prudential
Birla Sun Life 1295.68 4498.62 247.20
Aviva 134.66 771.38 427.84
Max New York 673.14 1314.88 95.34
Met Life 76.99 233.82 203.70
HDFC 1293.14 2093.33 61.88
Standard
Private total 9581 24254.64 153.15
LIC 159767.62 162746.87 1.93
TOTAL 169348.92 187101.5 10.48
Table showing market share of life insurance companies

COMPANY 2006-07 (IN %) 2007-08 (IN %)
HDFC Standard 0.76 1.12
Bajaj Allianz 0.37 0.96
ING Vaysa 0.1 0.39
AMP Sanmar 0.04 0.15
SBI Life 0.42 1.05
Tata AIG 0.31 0.96
ICICI Prudential 2.15 4.01
Birla Sun Life 0.77 2.4

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Aviva 0.08 0.41

Max New York 0.4 0.7
Met Life 0.05 0.12
LIC 94.34 87.05
TOTAL 100 100
Registration of Indian insurance companies

The registration of Indian insurance companies involves the following
contents
• Requisition for the registration
• Application for registration
• Renewal of certificates of registration
• Action in case default
• Certificates to existing insurers.
COMPANY PROFILE
Introduction:
HDFC is a professionally managed organization with a board of directors
consisting of eminent persons who represent various fields including
finance, taxation, construction and urban policy & development. The board
primarily focuses on strategy formulation, policy and control, designed to
increasing value to shareholders.
About HDFC:
• HDFC is India’s leading housing finance institution and has helped
build more than 23, 00,000 houses since its incorporation in 1977.

HDFC STANDARD LIFE
INSURANCE
• In Financial Year 2003-04 its assets under management crossed Rs.

36,000 Cr.
• As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores.
The depositor base now stands at around 1 million depositors.
• Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year
• Stable and experienced management
• High service standards
• Awarded The Economic Times Corporate Citizen of the year Award
for its long-standing commitment to community development.
• Presented the ‘Dream Home’ award for the best housing finance
provider in 2004 at the third Annual Outlook Money Awards.
• It entered into various sectors and offering services like banking,
mutual funds etc, and with the privatization in insurance sector, it also
entered into insurance mark
Family companies:
• HDFC Limited
• HDFC Bank Ltd
• HDFC Asset Management Co. Ltd
• HDFC Securities Ltd
• HDFC Chubb General Insurance Co Ltd
About standard life:

• The Standard Life group has been looking after the financial needs of
customers for over 180 years

HDFC STANDARD LIFE
INSURANCE
• It currently has a customer base of around 7 million people who rely

on the company for their insurance, pension, investment, banking
and health-care needs
• Its investment manager currently administers £125 billion in assets
• It is a leading pensions provider in the UK, and is rated by Standard &
Poor's as 'strong' with a rating of A+ and as 'good' with a rating of A1
by Moody's
• Standard Life was awarded the 'Best Pension Provider' in 2004, 2005
and 2006 at the Money Marketing Awards, and it was voted a 5 star
life and pension’s provider at the Financial Adviser Service Awards
for the last 10 years running. The '5 Star' accolade has also been
awarded to Standard Life Investments for the last 10 years, and to
Standard Life Bank since its inception in 1998. Standard Life Bank
was awarded the 'Best Flexible Mortgage Lender' at the Mortgage
Magazine Awards in 2006
• Its business operates within six areas: UK Life & pensions, Bank,
Healthcare, Investments, Canada and International.
The partnership:
HDFC and standard life insurance first came together for a possible
joint venture, to enter life insurance market, in January 1995. It was clear
from the outset both companies shared values and beliefs and a strong
relationship quickly formed. In October 1995 the companies signed a 3-year
joint venture agreement.

HDFC STANDARD LIFE
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Around this time standard life purchased a 5% stake in HDF, further

strengthening the relationship.
The next three years were filled with uncertainty, due to changes in
government and ongoing delays in getting the IRDA (Insurance Regulatory
and Development Authority) Act passed in parliament. Despite this both
companies remained firmly committed to the venture.
In October 1998, the joint venture agreement was renewed and
additional resource made available. Around this time standard life purchased
2%of Infrastructure Development Finance Company Ltd. (IDFC) standard
Life also started to use the services of the HDFC Treasury department to
advise them upon their investment in India.
Towards the end of 1999, the opening of the market looked very
promising and both companies agreed the time was right to moves the
operation to the next level. Therefore in January 2000 an export team from
the UK joined pocked team from HDFC to r\from the core project team,
based in Mumbai. Around this time standard life purchased a further 5%
stake in HDFC and 5% stake in HDFC Bank.
In a further development standard life agreed to participates in the
Asset Management Company promoted by HDFC to enter the mutual fund
market. The mutual fund was launched on 20th July 2000.
Incorporation of HDFC Standard Life Insurance Company Limited:

The company was incorporated on 14th August 2000 under the name
of HDFC Standard Life Insurance Company Limited. Company’s ambition
from as far back as October 1995, was to be first private company to re-enter

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the life insurance market in India. On the 23rd of October 2000, this ambition
was realized when HDFC Standard Life Insurance was the only life
company to be granted a certificate of registration.
HDFC are the main shareholders HDFC Standard Life, with
81.4%while standard Life owns 18.6% Given Standard Life’s existing
investment in the HDFC Group, this is the maximum investment under
current regulations.
HDFC and standard life have a long and relationship built upon
shared values and trust. The ambition of HDFC Standard Life is to mirror
the success of the parent companies and be the yardstick by which all other
insurance companies in India are measured.
Our key strengths:

Financial expertise:
As a joint venture of leading financial services groups, HDFC Standard Life
has the financial expertise required to manage your long-term investments
safely and efficiently.
Range of solution:
We have a range of individual and group solutions, which can be easily
customized to specific needs. Our group solutions have been designed to
offer you complete flexibility combined with a low charging structure.
Track Record so far:

HDFC STANDARD LIFE
INSURANCE
Our gross premium income, for the year ending March 31, 2008 stood at Rs.
4,859cr and new business premium income stood at Rs. 2,685cr
The company has covered over 9,59,000 lives year ending March 31, 2008.
Vision and values:

Our Vision:
'The most successful and admired life insurance company, which means that
we are the most trusted company, the easiest to deal with, offer the best
value for money, and set the standards in the industry'.
'The most obvious choice for all'
Our Values:
Values that we observe while we work:
• Integrity
• Innovation
• Customer centric
• People Care “One for all and all for one”
• Team work
• Joy and Simplicity
Accolades and Recognition

• Rated by 'Business world' as 'India's Most Respected
Private Life Insurance Company' in 2004

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INSURANCE
• Rated as the "Best New Insurer - 2003" by Outlook

Money magazine, India’s number 1 personal finance
magazine
Future:
HDFC has always been market-oriented and dynamic with respect to
resource mobilization as wall its lending programmed. This renders it more
than capable to meet the new challenges that have emerged. Over the years,
HDFC has developed a vast client base of borrowers, depositors,
shareholders and agents, it hopes of capitalize on this loyal and satisfied
client base for future growth. Internal systems have been development to be
robust and agile, to account changes in the volatile external environment.
HDFC has developed a network of institutional through partnerships with
some of the best institutions in the world, for providing specialized financial
services. Each institution is being fine and service.
Important dates in company’s profile:

In the year 2000, HDFC Standard Life Insurance and ICICI Prudential
are the first private insurances to get from IRDA to issue policies.
February 2, 2001- IRDA confirms income tax benefits to private insurance
companies
February 13, 2001- HDFC Standard Life consultants pass online test by
NSE
May 9, 2001- HDFC Standard Life insurance launches its Bangalore
operation

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October 22, 2001- HDFC Standard Life insurance launches its Term
Assurance plans
December 4, 2001- First group Insurance policy was sold in Chennai.
VATECH Wabag Ltd., an Indian Arm of VATECH Wabag, with headquarters
in Vienna, is a global player in the water market and they have taken group
term insurance policy cover all its employees in india
February 20, 2002- HDFC Standard Life insurance launches its Personal
Pension Plan
August 10, 2002- group Insurance business of HDFC Standard Life crosses
Rs.1000cr sum assured
October 17, 2002- HDFC chubb General Insurance Company Limited Starts
Operation in India
February 6, 2003- The two partners in the joint venture, HDFC Ltd and
Standard Life Assurance Company, UK have brought in the additional
capital and the share capital of the company now stands at Rs 218cr
February 18, 2003- HDFC Standard Life insurance launches its children’s
plan
April 8, 2003- HDFC Standard Life declares results for FY 2002-03,
premium from new business more than three and a half times over last FY
insurance coverage crosses Rs.5000cr mark
October 6, 2003- HDFC Blue star ties up with HDFC Standard Life
insurance for group cover
January 1 2004- HDFC Standard Life launches Unit Linked plans
May 16 2005- HDFC Standard Life declares results for FY 2004-05

HDFC STANDARD LIFE
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August 18 2005- HDFC Standard Life declares results for 1st quarter of
financial year 2005-06
PRODUCT PROFILE:
Individual product:
We at HDFC Standard Life realize that not everyone has the same
kind of needs. Keeping this in mind, we have a varied range of Products that
you can choose from to suit all your needs. These will help secure your
future as well as the future of your family.
Protection Plans
You can protect your family against the loss of your income or the
burden of a loan in the event of your unfortunate demise, disability or
sickness. These plans offer valuable peace of mind at a small price.
• Term Assurance Plan
• Loan Cover Term
• Assurance Plan
Investment Plans
Our investment products are well suited to meet your long-term needs.
• Single Premium Whole Life Plan
Pension Plans
Our Pension Plans help you secure your financial independence even
after retirement.
• Personal Pension Plan
• Unit Linked Pension Plan
• Unit Linked Pension Plus

HDFC STANDARD LIFE
INSURANCE
Our Immediate Annuity plan will aid you in receiving income post
retirement and securing you financial independence.
Savings Plans
Our Savings Plans offer you flexible options to build savings for your
future needs such as buying a dream home or fulfilling your children’s
immediate and future needs. Our Savings range includes
• Endowment Assurance Plan
• Unit Linked Endowment
• Unit Linked Endowment Plus
• Money Back Plan
• Children's Plan
• Unit Linked Young star
• Unit Linked Young star Plus
Health Plans
Our health plans provides you with timely support in case of any
health related emergencies and helps you and your family to remain
financially independent in difficult times
• Critical care plan
• Surqi care plan
Group Products:
One-stop shop for employee-benefit solutions
HDFC Standard Life has the most comprehensive list of products for
progressive employers who wish to provide the best and most innovative

HDFC STANDARD LIFE
INSURANCE
employee benefit solutions to their employees. We offer different products

for different needs of employers ranging from term insurance plans for pure
protection to voluntary plans such as superannuation and leave encashment.
We now offer the following group products to our esteemed corporate clients
• Group Term Insurance
• Group Variable Term Insurance
• Group Unit-Linked Plan
Social Product
Development Insurance plan is an insurance plan which provides life
cover to members of a Development Agency for a term of one year. On the
death of any member of the group insured during the year of cover, a lump
sum is paid to that member’s beneficiaries to help meet some of the
immediate financial needs following their loss.
Other product:
• Rural products
• Tax benefits
PRODUCT ANALYSIS:
Endowment Assurance Plan:

You have given your family the very best. And there is no reason why they
shouldn't get the very best in the future too. As a judicious family man, your
priority is to secure the well-being of those who depend on you. Not just for
today, but also in the long term. More importantly, you have to guard your
loved ones against any eventuality. How will they sustain their way of life,
so lovingly built by you, in your absence?

HDFC STANDARD LIFE
INSURANCE
With our HDFC Endowment Assurance Plan, you can ensure that your
family remains financially independent, even if you are not around. You can
ensure that they live a life of respect and dignity always.
The HDFC Endowment Assurance Plan gives you:

• An ideal way to secure your long-term financial goals
• Valuable protection to your family by way of lump sum
payment in case of your unfortunate demise within
policy term
• Lump sum payment (basic Sum Assured plus any bonus
additions) on survival up to maturity date
• Very flexible benefit options and payment options
Unit linked endowment assurance:
In this policy, the investment risk in investment portfolio is borne by
the policy holder.
You have given your family the very best. And there is no reason why
they should not get the very best in the future too. With HDFC Unit Linked
Endowment plus II, you can ensure that your family remains financially
independent, even if you are not around. You can ensure that they live a life
of respect and dignity, Always.
The HDFC Unit Linked Endowment plus II gives:
• Valuable protection to your family in case you are not
around

HDFC STANDARD LIFE
INSURANCE
• An outstanding investment opportunity by providing a

choice of thoroughly researched and selected
investments
• Regular Loyalty Units to boost your fund value every
year
• Flexible benefit combinations and premium payment
options
• Flexible additional benefit options such as critical illness
cover
Children’s plan:
As a parent, your priority is your child's future and being able to meet
your child's dreams and aspirations.
Today, providing a good education, establishing a professional career or
even a modest wedding is expensive. Costs are increasing fast. Just imagine
how much you'll need when your child takes these important steps in life!
Plan today to ensure a bright future for your child. Start building savings
today with our HDFC Children's Plan.
So that your child is able to lead a life of respect and dignity with a secured
financial future
The HDFC Children's Plan gives you:
• Invaluable financial support to your child
• A choice to customize an ideal plan for your child
• Multiple options for multiple benefits
Unit linked young star plan:

HDFC STANDARD LIFE
INSURANCE
As a parent, your priority is your children’s future and being able to

meet their dreams and aspirations. Today, providing a good education,
establishing a professional career or even a modest wedding is expensive.
Costs are increasing fast. Just imagine how much you will need when your
children take these important steps in life.
Plan today to ensure a bright future for your children. Start building savings
today with our HDFC Unit Linked Young Star Champion so that your child
is able to lead a life of respect and dignity with a secured financial future.
The HDFC Unit Linked Young Star Champion gives:
• Valuable protection to your child in case you are not around
• An outstanding investment opportunity by providing a choice of
thoroughly researched and selected investments
• Bumper Addition to the fund value at maturity
• Flexible premium payment options
• No need to go for medicals. Just filling a Short Medical Questionnaire
will do!
Money Back Plan:
You have always believed in living life on your own terms. So why let
the changing realities of everyday life overwhelm you and make your
aspirations take a back seat? You can plan now to ensure that you have the
necessary funds to meet your future financial needs.
The HDFC Money Back Plan is a ‘With Profit’ Plan that gives you:
• A proportion of the basic Sum Assured as Cash lump sums at regular
5-year intervals within the policy term (see the table given below) an

HDFC STANDARD LIFE
INSURANCE
ideal way to secure your long- term as well as short-term financial

goals.
• A lump sum payment on survival up to maturity date.
• Valuable protection to your family by way of lump sum payment in
case of your unfortunate death within the policy term
Single premium whole life insurance plan:
The well-informed rightly said and proves how important investments
are in today’s date and age. The question that we all fear is – What about the
risks attached?
HDFC Standard Life Insurance brings to you a safe investment plan that
would take care of your savings and nurture your earnings
HDFC Single Premium Whole of Life Insurance Plan is a tailor-made plan
well suited to meet your long-term investment needs. This participating plan
offers you the following benefits:
• Whole of life plan aimed at providing long-term real growth of your
money
• Single premium investment plan
• In case of your unfortunate demise during the policy term, this
participating (‘With Profits’) insurance plan will pay your family the
Sum Assured and compound Reversionary Bonuses, which are usually
added annually. An additional Terminal Bonus may be paid depending
on the performance of the underlying investments
• During Guaranteed Surrender Periods you get the Sum Assured and
all bonuses vested as at the date of surrender
Term assurance plan:
HDFC STANDARD LIFE
INSURANCE
The HDFC Term Assurance Plan is an insurance policy that is designed to

help secure your family's financial needs. The plan does this by providing a
lump sum to the family of the life assured in case of death or critical illness
(if option is chosen) of the life assured during the term of the contract. One
can choose the lump sum that would replace the income lost to one's family
in the unfortunate event of one's death
Loan Cover Term Assurance Plan:
This Plan provides a lump sum on the unfortunate death of the life assured
within the policy term. If you are taking a loan to buy a house for your
family, this plan can help you ensure that life's uncertainties do not affect
their shelter. It is an affordable plan that has been designed to help your
family repay the outstanding loan in case of your unfortunate death.
THEORITICAL BACKGROUND OF THE STUDY
About the project:

This project is mainly concentrating on the various perceptions that
each customer has on privet life insurance Company as well as on the value
added service offered by HDFC std. life insurance. As my title is all about
perception and value added service, I have given a brief introduction about
it.
Service marketing:
Service is an act of performing or offering that some thing extra which
gives some benefits or value to the customers with out the ownership of the
physical products

HDFC STANDARD LIFE
INSURANCE
Nowadays marketing of service is gaining importance due to increasing in

demand from economic well being, changing life style of people and
complexity of the products. Service differs from physical goods in certain
characteristics such as intangibility, heterogeneity and perishes ability, which
makes them unique and poses a challenge for marketers to make them
separately from goods.
This project is mainly concentrating on the perception of customers who
have the policy in private Life Insurance companies and know about the
value added service offered by the private Life Insurance Ccompanies.
Perception:
It may be define as the process by which an individual selects,
organizes and interprets stimuli into a meaningful and coherent picture of the
environment in which he lives. To a person, he perceives is the reality,
irrespective of the objective trust, and his behavior is determined by his
perception.
Factors Influencing Perception:

• The perceiver
The perceiver’s personal characteristics play major role in influencing the
way he interprets a target. A person’s attitude, motives, interests, past
experiences and expectation affect his perception.
• The Target
Perception is affected by characteristics of the target. The people who are
loud or very tall or attractive are more likely to be noticed in a crowed. The
target perceived based on its attributes such as motion, sound, size, etc.

HDFC STANDARD LIFE
INSURANCE
• The situation
Time, location, climate, person’s state of mind and other situational factors
influencing his perception
The Value Added Services Offered By The HDFC std. life insurance:
Electronic clearing system:
It is a system where your premium gets directly debited from your bank
account on your due dates. This helps the customer to pay the insurance
premium with out to the insurance company.
Financial advisors:
Advisors are the back is not just selling of the policies but listen to the
customer like what they need, how much they can invest, which policy suits
them the and what kind of policy expect from us i.e. what kind of policies
should be designed for them.
Ease in renewal of the lapsed policy:
Policy holder can easily renew their policy without much more difficulties
for these customers can seed the help of financial consultant.
Other service:
• Customized products
• All the information about the companies and its products are available
in company’s web site.
• In case a customer wants to pay their premiums through cheque then
they can draw them in favors of the insurance company in which he
has the policy.

HDFC STANDARD LIFE
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• Market information: customers can check their policy status through

online.
• Clime settlement: clime settlement in private life insurance company
is faster than the other insurance company.
• For any queries customer can call to company.
DESIGN OF THE STUDY
(A) TITLE OF THE PROJECT:
“CUSTOMER PERCEPTION ON VALUE ADDED SERVICES OFFERED

BY HDFC STANDARD LIFE INSURANCE COMPANY LIMITED IN
KHAMBHAT AND ANAND”
(B) STATEMENT OF PROBLEM:

HDFC STANDARD LIFE
INSURANCE
One of the major problems affecting the performance of the company

is the change in the customer needs and requirements, and also depends on
the company’s Value added services.
Therefore the problematic area of this study focuses on the study of
customer perception towards value added services provided by the HDFC
Standard Life Insurance Ltd.
(C) SCOPE OF THE STUDY:
HDFC Standard life insurance is operating in the number of unit plus

such as Home insurance, Asset insurance, Travel insurance, Health
insurance, and vehicle insurance like two, three and four wheeler and life
insurance to diversify their life insurance business.
So the study concentrates to know the customer potential for new
schemes launching in the customer area.
It is facing server competition; marketing intelligence has suggested
that the competitor’s sales people are doing a better job. Therefore HDFC
Standard life insurance has felt that a look at the personal selling process
would be immense use.
(D) OBJECTIVES OF THE STUDY:
The main aim of the study is to accomplish the following objective:

• To know the satisfaction level of the customers on value added
services provided by the HDFC Standard life insurance company
• To know the motivational factors those made them buy an insurance
policy from the company.

HDFC STANDARD LIFE
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• To know the image of the private life insurance companies in the

minds of the customers.
• To know the preferences of the people in the taking policies by
conducting market survey.
• To know the perception of the customers on value added services
offered by private HDFC Standard life insurance
(E) RESEARCH DESIGN OF THE STUDY:
Marketing research can be defined as the systematic design,

collection, analysis, and reporting of the data and finding relevant to a
specific marketing situation facing the company.

HDFC STANDARD LIFE
INSURANCE
Research design is the basic plan which guides the researchers in the
collection and analysis of data required for practicing the research product.
In fact the research design is the conceptual structure with which research is
conducted. It consist the blue print for the collection, measurement and
analysis of the data that was followed completing the study to ensure that
study is relevant to the problem and will follow the predetermined and set
data.
The main data feature of “Research Design” is that it specifies
population to be studied. The main them of the chapter is to know the source
of the data the researcher has collected. Data are raw facts of observation,
typically about physical phenomenon. Thus data are usually subjected to
value added process where
• It from is aggregated, manipulated and organized

• Its contents are analyzed and evaluated
• It is placed in a proper context for human user
Therefore, information is processed data placed in a context gives value for
the reader. It is a basis for analyzing and interpreting, which helps in making
note of findings, conclusions and also helps to give suggestions so data
should accurate, correct and clear. If it is inaccurate and not in proper order
the whole out put gets affected and it may lead to confusion.
Descriptive research
The research design selected for this research is descriptive research
design.

HDFC STANDARD LIFE
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Limitation:
• Lack of adequate training regarding company product and services in
the company
• Non availability of adequate secondary date.
• The study is restricted to KHAMBHAT and ANAND
(F) METHODOLOGY:
Collection of the data for the study can be drawn from following methods
for study.
Sources of the data:
After determining the objectives of study and research design, the
next important step is data is step collection method. The information has to
be collected from the retailers. During the process of the study the data is
collected from the target segment that is customers, dealers and distributors
with help of a structured well designed questionnaire.
Data is collected from

• Primary data
• Secondary data
Primary data

HDFC STANDARD LIFE
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It was collected through questionnaire prepared contains relevant questions

that are both close ended and opened. Individual and group interviews also
under taken with difference consumers,
I have collected mainly the Primary Data for my study by utilizing the
questionnaire and interview methods.
Secondary data
These data are collected from published sources such as Magazines, NEWS
papers, several books, and also from the help of web site
www.hdfcsl.com
(G) Sampling plan of the study:

Sample size:
Sample size refers to number of elements to be included in the study several
qualitative factors should also be taken into consideration when determining
the sample size. These include the nature of research, number of variable,
and nature of analysis, sample size used in similar studies incidence rates,
completion rates, and resources constraints.
During the process of the study, survey has been conducted on 100 retailers.
Sampling method:
The researcher had choice between probability and non probability
sampling methods. In this study a simple non probability method namely
convenience sampling was adopted.
For my study I have selected Non-probability method in which I
selected convincing sampling method.

HDFC STANDARD LIFE
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(H) FIELD WORK:
Survey was done in KHAMBHAT and ANAND.

The data was collected over a period of six weeks within KHAMBHAT and
ANAND city using well structured questionnaire. The respondents were
contacted at their respective retail outlets in various parts of the city.
Plan of the data analysis:
Planning and analysis of data can be done through three steps. They are
editing coding tabulation. These three are very important in analyzing the
data.
Editing:
Editing is the process of examining errors when there is some inconsistency
in the responses as entered in the questionnaire or where it contains partial or
vague answers.
Coding:
Coding is necessary to carryout the subsequent operations of tabulating and
analyzing data. If coding is not done, it will not be possible to reduce a large
number of heterogeneous responses into meaningful categories with the
result that the analysis of data would be weak and ineffective and without
proper focus.
Tabulation:
Tabulation comprises sorting of the data into different categories and
counting the number of cases that belong to category the simplest way to
tabulate is to count the number of responses to one question. This is called
univeriate tabulation. Where two or more variables are involved in

HDFC STANDARD LIFE
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tabulation, it is called bivariate or multivariate tabulation. In marketing

research projects and generally both types of tabulation are used.
(I) LIMITATION OF THE STUDY:
• The existing customers did not have enough time to spare for the
survey.
• Feedback from the respondents may be biased.
• Sample Area: The study id conducted within the city of khambhat,
Anand and therefore the conclusion derived will to the opinion of the
residents.
• Cost constraint: Survey is little costly.
• Sample Size: the intended sample size is only 100, which may not
give a true picture of the consumer investment pattern.
• Time constraint: Since the project is to be conducted alone with on the
job training there is time constraint in meeting people.
• The selected respondents are from Anand and khambhat.

HDFC STANDARD LIFE
INSURANCE
ANALYSIS AND INTERPRETATION:

Date Analysis and interpretation:
Table 1: Age group respondents

Age Group No. of respondent Percentage
Below 25 31 31%
25 to 35 39 39%
35 to 45 25 25%
45 and above 5 5%
Total 100 100%
Sources: primary data collected through questionnaire
Fig-1
45
40
35
30
25 No. of …
20
15
10
5
0
below 25 25 to 35 35 to 45 45 and above
Inference:

HDFC STANDARD LIFE
INSURANCE
The above graph shows 39% of respondents having insurance belong to 25

to 35 age respondents group, 31% of respondents availing HDFCSL belong
to below 25 age group and 25% are between 35 to 45age group.
Table 2: Occupation of the respondents
Working sector No. of respondent Percentage

Govt. 32 32%
IT 16 16%
Education 6 6%
Finance 13 13%
Business 29 29%
Other 4 4%
Total 100 100%
Fig-2
35
30
25
20
15 no. of respondents
10
5
0
Govt IT Education Finance Business Other
Inference:

HDFC STANDARD LIFE
INSURANCE
The above figure reveals that most of the people 32% are working in
government and 29%are Business sector
Table3: Respondents awareness of investment option
Awareness No. of respondent Percentage
Yes 33 33%
No 14 14%
Have some knowledge 53 53%
Total 100 100%
Fig-3
60
50
40
30
No.of Respondants
20
10
0
Yes No Have some Knowledge
Inference:

HDFC STANDARD LIFE
INSURANCE
This graph shows that only 33% of people are aware of the investment
option and 53% of people have some knowledge about it. But 14% of people
are not aware of the investment option available to them
Table4: Having an any Insurance policy
Response No .of respondents percentage
Yes 53 53%
No 47 47%
Total 100 100%
Fig-4
54
53
52
51
50
49
48 no. of respondents
47
46
45
44
Yes No

HDFC STANDARD LIFE
INSURANCE
Inference:
This graph shows that 47% of people not having an insurance policy and
53% of people having an insurance policy.
Table 5: Respondent interest of investing options
Need for investment Respondents percentage

Retirement 28 28%
Tax saving 21 21%
Earnings 33 33%
Liquidity 18 18%
Total 100 100%
Fig-5
35
30
25
20
15 No.of respondentas
10
0
Retirement Tax Saving Earnings Liquidity
Inference:

HDFC STANDARD LIFE
INSURANCE
The figure shows 33% of people have insurance for future earnings and 28%
are investing for Retirement.
Table 6: Type of policy which holding by the Respondents
Types of policy No .of respondents percentage
Traditional 24 24%
Unit Linked 76 76%
Total 100 100%
Fig-6
80
70
60
50
40
No .of respondents
30
20
10
0
Traditional Unit Linked
Inference:

HDFC STANDARD LIFE
INSURANCE
The above graph shows most of the respondents (76%) have unit linked
policy and only 24% respondents have traditional. This shows people are
more interested towards good maturity values.
Table 7: Term of investment preferred
Investment Method No .of respondents percentage
Short term 32 32%
Medium Term 22 22%
Long Term 46 46%
Total 100 100%
Fig-7
50
45
40
35
30
25
20 No. of respondants
15
10
5
0
Short Term MediumTerm LongTerm
Inference:

HDFC STANDARD LIFE
INSURANCE
The above figure shows 46% of respondents prefer long term investment
where as 32% prefer medium term and only 22% prefer short term.
Table 8: Reason for choosing HDFC Standard Life Insurance Company
Motivational factor No .of respondents percentage

Brand Image 14 14%
Advertising 12 12%
Value Added Service 21 21%
Policy Features 29 29%
Advisor 24 24%
Total 100 100%
Fig-8
35
30
25
20
15
No.of respondents
10
5
0
Brand Image Advertising Value Added Policy Advisor
service Feature
Inference:
The above figure shows that 29% of policy features and 24% of influence of
advisor made buy the private and 21% it brought it because the added
services offered by the company

HDFC STANDARD LIFE
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Table 9: Respondent perception towards the HDFC Standard Life Insurance

Company
Opinion No .of respondents percentage

Average 29 29%
Aggressive 21 21%
Excellent 14 14%
professional 36 36%
Total 100 100%
Fig-9
40
35
30
25
20
No of respondents
15
10
5
0
Average Aggressive Excellent professional
Inference:
The above graph shows that 36% of Respondents believes the operations of
private companies are professional and 29% believes in Average
Table 10: Rating of the services on 1-5 scale

HDFC STANDARD LIFE
INSURANCE
Analysis Rating
website 3
Reminding letters 4
ECS 2
FA 1
According to the table:

The primary data Financial advisors rating is 1st while Electronic clearing
system website, Reminding letters, respectively 2nd, 3rd, and 4th

HDFC STANDARD LIFE
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Table 11: Satisfied with Electronic clearing system offered by HDFC

Standard Life Insurance:
Level No. of Respondents Percentage
Yes 73 73%
No 27 27%
Total 100 100%
Fig-11
80
70
60
50
40
No. of respondants
30
20
10
0
Yes No
Inference:
The above graph shows that 73% of people are satisfied with ECS facility
while only 27% are not satisfied

HDFC STANDARD LIFE
INSURANCE
Table 12- Respondents for clarify any query to whom you consult first
services No. of Respondents Percentage

Adviser 39 39%
company website 16 16%
customer care 28 28%
branch manager 17 17%
Total 100 100%
Fig-12
45
40
35
30
25
20
15 No. of respondents
10
5
0
Adviser company customer care branch
website manager
Inference:
The above graph shows that 39% people believes in Adviser, 28% of people
believes Customer care while company website and branch Manager People
clarify any query first respectively 16% and 17%

HDFC STANDARD LIFE
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Table-13 Respondent satisfaction of current policy
Satisfaction level No. of Respondents Percentage
Yes 82 82%
No 18 18%
Total 100 100%
Fig- 13
100 82
80
60
40 No. of respondents
18
20
0
Yes No
Inference:
The above figure shows that 82% of respondents are satisfied with their
current policy and only 18% of people are not happy with their policy.

HDFC STANDARD LIFE
INSURANCE
FINDINGS AND SUGGESTIONS:

FINDINGS:
• It revels that 39% of respondents belongs to 25 to 35 age group 31%
are belong to below 25 ages.
• The survey that maximum 32% of the respondents are in working
govt. sector
• Out of 100respondents 33% of the respondents well known about
HDFCSL investment option
• 53% of the people having a insurance policy
• 33% of respondents are indented to invest on their earning only.
• 76% of respondents holding unit linked policy in HDFCSL
• 46% of respondents are preferred long term investment term in
HDFCSL.
• Out of 100 respondents 29% of respondents choosing HDFCSL
insurance for policy feature and 24% are for Advisor, 21% for value
added services.
• 29% of the respondents perception about HDFCSL IS Average, and
21% of has told that it is being aggressive and 14% are Excellent
• Financial Advisors got 1st rank and Electronic clearing system having
2nd rank.
• 73% of respondents are satisfied with electronic clearing system
• 39% of the respondents using Advisor service which the service
offered by the HDFCSL

HDFC STANDARD LIFE
INSURANCE
• 82% of respondents are satisfied with current policy offered by

HDFCSL
SUGGESTIONS:
In Anand and khambhat most of the people working in Government and

Business sector and they don’t have much financial planning. Another
important point is they have good compensation package. So the company
should bring more innovative and should carry out more promotional
activities in government fields. Better promotion of unit linked plans can
generate more sales to the company.
HDFC STANDARD LIFE INSURANCE COMPANY’s unit linked

insurance plans can effectively meet the requirements of the customers,
because unit linked plans are directly related to the market, so the customers
can creates more wealth through fund and he can enjoy the tax benefit, and
also the insurance cover. The pressure on the sales team would be lessoned
by increasing the awareness among the people about the credibility of the
companies and need for capitalizing on the various insurance plans offered
by the private life insurance companies.
• As the awareness of insurance is less among the people, its awareness

should be creating among the people by conducting stage shows and
explaining its need and importance.
• Insurance should not be considered only as a risk cover element but
also as a long term investment

HDFC STANDARD LIFE
INSURANCE
• It is also recommended to concentrate to on lower income group

people.
• More efforts should be taken by the company’s financial consultants
to convert the leads into policy holder of HDFCSL.
• Follow up should be taken and customer relation should be
maintained by the inviting the existing customers to the seminars
conducted when launching a new product or any changes are made to
the products or rules to retain them.
• Coming with new promotional activities like giving new
advertisements, keeping stalls, conducting seminars in companies, and
giving ads through SMS can be done by HDFC Standard Life
insurance Co. to create awareness among customers.

HDFC STANDARD LIFE
INSURANCE
CONCLUSION:
A study on customer perception on value added services offered by HDFC

Standard Life Insurance Ltd Company in Anand has been carefully analysed
interpreted with the help of analysis tools.
` HDFC Standard Life Insurance was grown a lot through its
aggressive marketing strategies and the growth rate as tremendous, through
it is growing faster it has to work on certain things and maintain the
standard. This can be done through introducing more innovative products
and recruiting good quality advisors because they are the pillars of the
company and it is the most valuable value added services that the company
is having.
Therefore, the best the company can do is giving the customer
something, which is little bit different and better than its competitor. The
company should also be successful in expressing the extra features, which is
given to the customer. The customer should feel that whatever company is
giving is something great, and no one could ever imagine about it. This
feeling makes the customer feel that company is very much satisfying them.
In addition, the extra feature given to satisfying is some thing great.

HDFC STANDARD LIFE
INSURANCE
ANNEXURE:
REFERENCES:
List of websites:
• www.irda.com
• www.hdfcsl.com
List of Books & Magazines:
• Marketing Management- ICFAI publication

• Marketing Management- Philip kotler
• Outlook- the Layman’s Guide to Insurance
• Business line
• IRDA Journal
List of News Papers:
• Business Line
• Economics Times
HDFC STANDARD LIFE
INSURANCE
QUESTIONNARE:
I am Saiyed Moizahmed M, MBA second year student of HMSIT Tumkur

currently doing my project in HDFC Standard Life Insurance Company. As a
part of my study I am collecting information of the existing customers to
know the consumers perception on value added services provided by HDFC
std. life insurance Company I kindly request you to fill the following
questionnaires.
Please [√] the answer

(1) What is your name?
(2) Which age group do you belong to?
[ ] less than 25years, [ ] 25 to 35 tears,
[ ] 35 to 45 years [ ] above 45years
(3) Which sector are you working in?
[ ] Education [ ] Finance
[ ] Government [ ] IT [ ] others
(4) Are you aware of the all the Investment option
[ ] Yes [ ] No
[ ] Have some knowledge
(5) Do have any insurance policy?
HDFC STANDARD LIFE
INSURANCE
[ ] Yes [ ] No
(6) Why do you want to invest in to insurance?
[ ] Retirement [ ] Tax saving [ ] Earnings [ ] Liquidity

(7) What type of policy do you have?
[ ] Traditional [ ] Unit linked
(8) Which term of investment preferred?
[ ] Short term [ ] Medium term [ ] Long term

(9) What made you to invest in HDFC Standard Life Insurance?
[ ] Brand image [ ] Advertising
[ ] value added services [ ] policy feature [ ] Advisor
(10) What is your opinion towards the services provided by HDFC Standard
Life Insurance?
[ ] Average [ ] Aggressive
[ ] Excellent [ ] professional
(11) Which service among the following you rate in ascending order (1 to
4)?
[ ] Website [ ] Reminding letters
[ ] ECS [ ] FC
(12) Are you satisfied with ECS offered by HDFC Standard Life Insurance?
[ ] Yes [ ] No
(13) If you want to clarify any query to whom you consult first?
[ ] adviser [ ] company website
[ ] customer care [ ] branch manager
(14) Are you satisfied with your current policy?
[ ] Yes [ ] No

HDFC STANDARD LIFE
INSURANCE
THANK YOU
NAME:
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Final Copy of HDFC Standard Life Insurance Company Limited. by Saiued Moiz 9964529468

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Final Copy of HDFC Standard Life Insurance Company Limited. by Saiued Moiz 9964529468

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HDFC STANDARD LIFE

However understanding the market, consumer preference and

Marketing is an important activity in any organization’s sales strategy.

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Events covered in Life Insurance:

Objectives and advantages of life insurance:

• Protection during old age:

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• Educational Requirement and Charity:

• Nomination and Assignment:

• Marketability and Suitability for Borrowing:

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After 3 years, if the policy holder finds that he is unable to continue

• Loan from the Insurance Company:

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• Protection to Wife and Children:

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It is of the oldest branches of the insurance. It plays a significant role in both

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through individual cannot predict or completely prevent such occurrences,

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surety, burglary and theft, automobile property

Brief history of insurance sector in India:

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• 1928 – The Indian insurance companies act enacted to

Insurance sector reforms:

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• Government should takeover the wordings of GIC and

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• Insurance is a federal subject in India; the primary legislation that

Need for life insurance:

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• Insured population: 70 million

Life insurance market in India

HDFC Standard life

Tata Group AIG

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Max India New York

SBI Alliance Capital

Bajaj Allianz Chubb

Vysa Bank ING

Spic Met Life

Sanmar Group GIO of Australia

Life insurance statistics:

Kotak 352.1 1271.2 260.98

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Bajaj Allianz 633.89 1797.05 183.50

Table showing market share of life insurance companies

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Aviva 0.08 0.41

TOTAL 100 100

Registration of Indian insurance companies

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• In Financial Year 2003-04 its assets under management crossed Rs.

About standard life:

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• It currently has a customer base of around 7 million people who rely

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Around this time standard life purchased a 5% stake in HDF, further