SBI Project

A
Project Study report

On
Training Undertaken at
SBI LIFE INSURANCE LIFE INSURANCE
Titled
Customer satisfaction and market research
Submitted in partial fulfillment for the Award of degree of
Bachelor of Business Administration
SUBMITTED BY: -
SUBMITTED TO:-
Ms. Abhilasha Poonia
Mrs. Ankita dhaadhich
B.B.A. IV SEM.
Management
Dept. of
SHEKHAWATI COLLEGE, SIKAR 33200

SESSION 2012-2015
PREFACE
The training is most important part of the study this is organized with a view to get
practical as well as theoretical knowledge in organizational set up of SBI LIFE
INSURANCE and its management, style of functioning in differ areas, and special in
life insurance plans.
I have taken practical training from SBI LIFE INSURANCE Bank on LIFE
INSURANCE and I felt that this bank is bringing run superb by excellent
management in insurance sector.
It is my pleasure to present this project work after I had finished training at SBI LIFE
INSURANCE LIFE, INSURANCE at SBI LIFE INSURANCE Jhunjhunu, Rajasthan.
This training has expanded my horizon of knowledge in practical as well as
theoretical in field of insurance. This is helpful for me to understand the basic
function of SBI LIFE INSURANCE and their management with special reference to
insurance management. This not sufficient but their application is also equally
important after completion of this training for further improvement and explore the
possibility of insurance for the benefits of management students and myself also.
Abhilasha
ACKNOWLEDGEMENT
I express my sincere and profound guide to MRS.ANKITA Daadhich department of
management, Sikar for his leadership, benevolent guidance, and valuable
suggestions during the entire course of study and the preparation of this manuscript.
I shall remain indebted and sincerely thankful to MR.PRADEEP (Training Manger)
SBI LIFE INSURANCE Jhunjhunu, Rajasthan
for their valuable guidance,
cooperation and advice from time to time. I am highly thankful to members of

teaching and supporting management staff, especially to MRS.NISHA MAM,
MR.RAKESH SAINI, for their constant help, encouragement and suggestions as and
when needed.
My sincere thanks to the Chairman, SH. RANJEET SINGH and SH. MANISH
SRIVASTA (Director Management), Institute of Sikar for their kind patronage. I also
acknowledge staff of Library, for their cooperation and generosity. I own my sincere
thanks to my friends and colleagues particularly for their cordiality, exchange of
views on various topics, support and joyous company.
ABHILASHA
Place: Pilani Rajasthan
Dated: 11/03/2014
Index
S.NO
TOPIC
1. Introduction to SBI LIFE INSURANCE

1.1 Insurance in India
1.2 Present Scenario
1.3 Meaning Life Insurances
1.4 What is Life Insurance?
1.5 Why SBI LIFE INSURANCE Life Insurance?
2. Important SBI LIFE INSURANCE life insurance policies
2.1 SBI LIFE INSURANCE Life - Smart Wealth Builder
2.2 SBI LIFE INSURANCE Life - Smart Wealth Assure
2.3 SBI LIFE INSURANCE Life - Smart Elite
2.4 SBI LIFE INSURANCE Life - Smart Power Insurance
2.5 SBI LIFE INSURANCE Life - Saral Pension
2.6 SBI LIFE INSURANCE Life - Retire Smart
2.7 SBI LIFE INSURANCE Life - Annuity Plus
2.8 SBI LIFE INSURANCE Life - Annuity Plus
2.9 SBI LIFE INSURANCE Life - Smart Shield
2.10 SBI LIFE INSURANCE Life - Saral Shield
2.11 SBI LIFE INSURANCE Life eshield
2.12 SBI LIFE INSURANCE Life - Grameen Bima
2.13 SBI LIFE INSURANCE Life - Shubh Nivesh
2.14 SBI LIFE INSURANCE Life - Saral Swadhan+
2.15 SBI LIFE INSURANCE Life - Flexi Smart Plus
3.
4.
5.
6.
7.
8.
Major outcome of Life Insurance Policies:

Insurance Sector Today: Opportunities and Challenges
SWOT Analysis
Research Methodology
The Way Ahead
Conclusion
PAGE NO
Introduction
Meaning Life Insurance
An agreement between an individual (often the insured person) and a life insurance
company (the insurer) that guarantees the payment of a stated amount of money on
the death of the insured or at the end of a specified term. It is a risk measure taken
by an individual for the benefits of his/her dependents in his/her absence. As life is
uncertain, an individual by taking an insurance policy gives a cushion to his/her beneficiary/nominee where they are entitled for an insured value in case of the insured
untimely death.
What is Life Insurance?

Life Insurance is a contract between you and a life insurance company, which
provides your beneficiary with a pre-determined amount in case of your death during
the
contract
term.
Buying insurance is extremely useful if you are the principal earning member in the
family. In case of your unfortunate premature demise, your family can remain
financially secure because of the life insurance policy that you have purchased. The
primary purpose of life insurance is therefore protection of the family in the event of
death. Today, insurance is also seen as a tool to plan effectively for your future
years, your retirement, and for your children's future needs. Today, the market offers
insurance plans that not just cover your life and but at the same time grow your
wealth too.
Why do I need insurance?
Who will take care of my family if tomorrow something unfortunate happens to me?
If this question bothers you, then Life Insurance is the answer. Of course, under any
circumstances, the loss of a loved one is a traumatic experience. But, if your family is
also left without sufficient money to meet basic living needs or prepare for future
goals, they will have to cope with a financial crisis at the same time. A Life Insurance
plan ensures that your family is financially secure even if tomorrow you are no longer
around to care for them.
Need for Insurance

Today, there is no shortage of investment options for a person to choose from.
Modern day investments include gold, property, fixed income instruments, mutual
funds and of course, life insurance. Given the plethora of choices, it becomes
imperative to make the right choice when investing your hard-earned money. Life
insurance is a unique investment that helps you to meet your dual needs - saving for
life's important goals, and protecting your assets. Let us look at these unique
benefits of life insurance in detail.
Asset Protection
From an investor's point of view, an investment can play two roles - asset
appreciation or asset protection. While most financial instruments have the
underlying benefit of asset appreciation, life insurance is unique in that it gives the
customer the reassurance of asset protection, along with a strong element of asset
appreciation.
The core benefit of life insurance is that the financial interests of one's family remain
protected from circumstances such as loss of income due to critical illness or death
of the policyholder. Simultaneously, insurance products also have a strong inbuilt
wealth creation proposition. The customer therefore benefits on two counts and life
insurance occupies a unique space in the landscape of investment options available
to a customer.
Advantages of Insurance
Risk Cover - Life today is full of uncertainties; in this scenario Life Insurance
ensures that your loved ones continue to enjoy a good quality of life against
any unforeseen event.
Planning for life stage needs - Life Insurance not only provides for financial
support in the event of untimely death but also acts as a long term investment.
You can meet your goals, be it your children's education, their marriage,
building your dream home or planning a relaxed retired life, according to your
life stage and risk appetite. Traditional life insurance policies i.e. traditional
endowment plans, offer in-built guarantees and defined maturity benefits
through variety of product options such as Money Back, Guaranteed Cash
Values, Guaranteed Maturity Values.
Protection against rising health expenses - Life Insurers through riders or
stand-alone health insurance plans offer the benefits of protection against
critical diseases and hospitalization expenses. This benefit has assumed
critical importance given the increasing incidence of lifestyle diseases and
escalating medical costs.
Builds the habit of thrift - Life Insurance is a long-term contract whereas
policyholder, you have to pay a fixed amount at a defined periodicity. This
builds the habit of long-term savings. Regular savings over a long period
ensures that a decent corpus is built to meet financial needs at various life
stages.
Safe and profitable long-term investment - Life Insurance is a highly
regulated sector. IRDA, the regulatory body, through various rules and
regulations ensures that the safety of the policyholder's money is the primary
responsibility of all stakeholders. Life Insurance being a long-term savings

instrument, also ensures that the life insurers focus on returns over a longterm and do not take risky investment decisions for short term gains.
Assured income through annuities - Life Insurance is one of the best
instruments for retirement planning. The money saved during the earning life
span is utilized to provide a steady source of income during the retired phase
of life.
Protection plus savings over a long term - Since traditional policies are
viewed both by the distributors as well as the customers as a long term
commitment; these policies help the policyholders meet the dual need of
protection and long term wealth creation efficiently.
Growth through dividends - Traditional policies offer an opportunity to
participate in the economic growth without taking the investment risk. The
investment income is distributed among the policyholders through annual
announcement of dividends/bonus.
Facility of loans without affecting the policy benefits - Policyholders have
the option of taking loan against the policy. This helps you meet your
unplanned life stage needs without adversely affecting the benefits of the
policy they have bought.
Tax Benefits-Insurance plans provide attractive tax-benefits for both at the
time of entry and exit under most of the plans.
Mortgage Redemption- Insurance acts as an effective tool to cover
mortgages and loans taken by the policyholders so that, in case of any
unforeseen event, the burden of repayment does not fall on the bereaved
family.
SBI LIFE INSURANCE Introduction

The origin of the State Bank of India goes back to the first decade of the nineteenth
century with the establishment of the Bank of Calcutta in 1806 in Calcutta. Three
years later the bank received its charter and was re-designed as the Bank of Bengal
(2 January 1809). A unique institution, it was the first joint-stock bank of British India
sponsored by the Government of Bengal. The Bank of Bombay (15 April 1840) and
the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks
remained at the apex of modern banking in India till their amasbi life
insuranceamation as the Imperial Bank of India on 27 January 1921
Primarily Anglo-Indian creations, the three presidency banks came into existence
either as a result of the compulsions of imperial finance or by the felt needs of local
European commerce and were not imposed from outside in an arbitrary manner to
modernize India's economy. Their evolution was, however, shaped by ideas culled
from similar developments in Europe and England, and was influenced by changes
occurring in the structure of both the local trading environment and those in the
relations of the Indian economy to the economy of Europe and the global economic
framework. The State Bank of India, the country, oldest bank and a premier in terms
of balance sheet size, number of branches, market capitalization and profits is today
going through a momentous phase of change and transformation the two hundred
year old public sector behemoth is today stirring out of its public sector legacy and
moving with an ability to give the private and foreign banks a run for their money.
The bank is entering into many new businesses with strategic tie ups with Pension
Funds, General Insurance, Custodial Services, Private Equity, Mobile Banking, Point
of Sale Merchant Acquisition, Advisory Services, structured products etc. The bank is
forging ahead with cutting edge technology and innovative new banking models, to
expand its rural banking base, looking at the vast untapped potential in the hinterland
and proposes to cover 100,000 villages in the next two years. At the end March,
2011, the total number of branches was 13,542 while the number of ATMs stood at
20,084 across the country.
Insurance business has emerged as one of the prominent financial services during
recent times, particularly in developing countries where it could not grow before
globalization. But it is very difficult to trace exactly when insurance originated. If we
go back to ancient times, we realize that the first insurers of life were the marine
insurance underwriters. They used to issue life insurance policies on the lives of their
master and the crew of the ship and the merchants. These policies were issued only
for short periods. The first life insurance policy was issued on 18th June 1583 on the
life
of
William
Gibbons,
for
a
period
of
1
year.
People always felt the need to have security of their lives and the property they
owned. Somewhere in 18th century, societies like the Amicable Society, Equitable
Life Assurance Society, Hand in Hand Society etc. were formed for issuing life
insurance policies. During the early 19th century, a large number of life insurance
companies were formed in India as well, which eventually became part of todays
Life Insurance Corporation of India.
As far as the evolution of non-life insurance is concerned, it all began with the
boycott of British goods and the British administration. These nationalists
movements made Indians come together for the common cause of protection of life
and goods. This was the time when the swadeshi movement began. Thus over the
years it forced the Government to have its own autonomous bodies like LIC and GIC
taking care of the life and the general insurance in India.
Insurance today is not restricted just to life alone. But it has become the trend or the
need of the hour to insure each and everything one has. So the different areas
wherein insurance business can be done are - Life insurance, Health insurance,
Automobile insurance, Property insurance, Casualty insurance, Liability insurance,
Title insurance, Credit insurance, Terrorism insurance, Political risk insurance.
Insurance in India
Life insurance in its current form came to India from the United Kingdom with the
establishment of the Oriental Life Insurance Company in 1818. Thereafter Bombay
Life Assurance Company was formed in 1823, the Madras Equitable Life Insurance
Society in 1829 and the Oriental Life Assurance Company in 1874. The Government
felt the need to regularize life insurance and for the first time an Act pertaining to
insurance was passed viz. The Indian Life Assurance Companies Act 1923; later, in
1928 the Indian Insurance Companies Act was enacted by the government to collect
statistical
data
on
life
and
non-life
business
in
India.
In order to protect the interests of policyholders, earlier legislation was consolidated
and amended by the Insurance Act 1938 with comprehensive provisions for detailed
and effective control over the activities of insurers. Earlier life insurance was
confined mainly to the cities and better-off segments of society. With a view to
spread life insurance to the rural areas, to have control over all the insurance
providers in India and to bring them under one roof the Government of India decided
to nationalize the life insurance business. Thus in 1956, the President of India
passed an ordinance for nationalization, thereby giving birth to the Life Insurance
Corporation of India.
Since 1956, with the nationalization of insurance industry, the state run Life
insurance Corporation of India (LIC) has had a monopoly in Indias life insurance
sector. Over the years, it has reaped the advantages of monopoly and enjoyed a
virtual prerogative in setting premiums. With more than 6 lakh agents in every nook
and corner of the country, it has created a brand name for itself. It has, to its credit,
around $44 billion as its life fund and is a strong player in the financial sector. Over
the years the government felt that the Life Insurance Corporation of India was losing
its grip, and decided it was time to let private players enter the market.
Present Scenario
The liberalization, privatization and globalization policies of the nation along with the
revolution in the field of Information Technology and communication have been
advantageous for the insurance sector in India.
Entry of private players and foreign collaborations: It was on the
recommendation of the Malhotra Committee that private players were allowed
to enter into the insurance market. Today there are almost 22 players who
have entered the Indian insurance market besides the giant Life Insurance
Corporation
of
India
(LIC).
Another major development that has taken in the field of general insurance is
the de-linking of the 4 subsidiaries of the General Insurance Corporation of
India (viz. Oriental Insurance Company Ltd., New India Assurance Company
Ltd., National Insurance Company Ltd. and United India Insurance Company
Ltd) from the parent company.
Marketing strategies and approaches: The entry of private players and their
foreign partners has given domestic players a tough time, because the
opening up of the sector has not brought in only foreign players, but also
professional techniques and technologies. The present scene in India is such
that everyone is trying to put in the best efforts. One can see strategies being
more for survival than growth. But the most important gift of privatization is the
introduction of customer-oriented services. Utmost care is being taken to
maximize customer satisfaction.
Why SBI LIFE INSURANCE Life Insurance?
SBI LIFE INSURANCE Life Insurance is a joint venture between the State Bank of
India and BNP Paribas Assurance. State Bank of India enjoys the largest banking
franchise in India. Along with its 7 Associate Banks, BNP Paribas Assurance is the
insurance arm of BNP Paribas - Euro Zones leading Bank. BNP Paribas, part of the
worlds top 10 group of banks by market value and part of Europe top 3 banking
companies, is one of the oldest foreign banks
Important SBI LIFE INSURANCE life insurance policies
SBI LIFE INSURANCE life Insurance is an Indian private bank, and along with its
five associate banks, offer a wide variety of life insurance products, moreover, it has
branches all over the country. It was formed as a result of a merger between a
French Insurance Company and the State-Bank of India and its aim is to offer life
insurance and pension services to its clients. This article provides some information
about SBI LIFE INSURANCE life insurance.
1. Unit Linked Plans of SBI LIFE INSURANCE :-SBI LIFE INSURANCE Life Unit Plus Super , SBI LIFE INSURANCE Life - Saral Maha Anand, SBI LIFE
INSURANCE Life - Smart Horizon, SBI LIFE INSURANCE Life - Smart
Performer,SBI LIFE INSURANCE Life - Smart Wealth Assure, SBI LIFE
INSURANCE Life - Smart Elite
2. Child Plans:- SBI LIFE INSURANCE Life - Smart Scholar, SBI LIFE
INSURANCE Life - Scholar II
3. Pension Plans:- SBI LIFE INSURANCE Life - Saral Pension
4. Protection Plans:- SBI LIFE INSURANCE Life - Saral Shield, SBI LIFE
INSURANCE Life - Smart Shield, SBI LIFE INSURANCE Life - Swadhan, SBI
LIFE INSURANCE Life - Smart Income Shield Insurance
5. Savings Plans:- SBI LIFE INSURANCE Life - Flexi Smart Insurance ,SBI
LIFE INSURANCE Life -Smart Income Protect, SBI LIFE INSURANCE Life Smart Money Back Insurance, SBI LIFE INSURANCE Life - Sanjeevan
Supreme, SBI LIFE INSURANCE Life - Shubh Nivesh, SBI LIFE INSURANCE
Life - Saral Life
6. HEALTH PLANS:- SBI LIFE INSURANCE Life - Smart Health Insurance, SBI
LIFE INSURANCE Life - Group Criti9
Details of SBI LIFE INSURANCE Life Insurance plans:
SBI LIFE INSURANCE Life - Smart Wealth Builder
Introduction
You may have ever changing needs, but as your preferred life insurance company,
SBI LIFE INSURANCE Life definitely understands all your financial & insurance
needs. SBI LIFE INSURANCE Life - Smart Wealth Builder, a unit linked, non
participating, insurance plan is an attempt to meet all your financial & insurance
needs through a single product. You can use it the way you like. You can choose
your required life insurance cover subject to a minimum and a maximum level.
Key Features
Guaranteed Additions (Conditions Apply) up to 125% of one annual regular

premium on a regular premium policy, for a 30 year policy term, subject to the
Policy being in force till the maturity date
Guaranteed Additions starting as early as 10th policy year onwards
No Policy Administration fees for first 5 years for Regular and Limited
Premium Paying Term (LPPT) plans, thereby boosting your fund value
No Premium Allocation Charge from 11th year onwards
Enhanced investment opportunity through 7 varied Fund Options
Life Insurance coverage, with minimum Sum Assured based on your age
Flexible product with an option to increase/decrease your Sum Assured from
6th policy year onwards
Age* at Entry
Min: 7 years
Max: For Regular Premium & 60
Limited Premium:years
65
For Single Premium:
years
Age* at Maturity 70 years
Plan Type
Regular Premium / Limited Premium / Single Premium
Policy Term^
Regular & Limited Premium Payment - 10 years, 15 to 30 years
(both inclusive)
Single Premium - 5 to 30 years
Premium Payment 5/8 years for Policy term of 10 years
Term
5/8/10 years for Policy term of 15-30 years
Premium Amount
Premium
Plan Type
Minimum Maximum
(X 100)
Frequency
Premium Modes
Sum Assured
Regular premium
Annual
Rs.
30,000
Limited premium
Annual
Rs.
40,000
Single premium
Single
Rs.
65,000
Rs.
3,00,000
Single/Yearly
Minimum (in Rs.)
Premium
Age below 45
Mode
years
Age 45
years or
above
Regular
Higher of
Higher of
Premium [(10 x AP ) or (7 x AP) or
(0.50 x Term x (0.25 x Term
Limited
AP)]
x AP)]
Premium
Single
1.25 x SP
1.1 x SP
Premium
All the references to age are age as on last birthday.
Maximum (in Rs.)

Age below
45 years
Age 45
years or
above
20 x AP
20 x AP
15 x AP
15 x AP
3 x SP
1.25 x SP
Guaranteed Additions at the specified percentages for RP, LPPT & SP, will be given
at the end of 10th policy year and every five years thereafter for policies which are
inforce.
In case of minor lives, policy term should be appropriately chosen so as to ensure
that at the time of maturity life assured should be a major. In case of minor lives, date
of commencement of policy and date of commencement of risk shall be
same.Various charges such as Premium Allocation Charges, Policy Administration
Charges, Fund Management Charges etc are deducted. For the complete list of
charges and their workings, please refer the Sales Brochure.
Benefits
Maturity Benefit: (Applicable only for in-force policies): On completion of

Policy Term, Fund Value will be paid.
Death Benefit: (Applicable only for in-force policies): Higher of the Fund Value
or Sum Assured is payable; with a minimum of 105% of total basic premiums
paid till the date of intimation of death.
Tax Benefits:
Tax deduction under Section 80 C is available. However in case the premium
paid during the financial year, exceeds 10% of the sum assured, the benefit
will be limited up to 10% of the sum assured.
Tax exemption under Section 10(10D) is available at the time of
maturity/surrender, subject to the premium not exceeding 10% of the sum
assured in any of the years during the term of the policy. However, death
proceeds are completely exempt.
SBI LIFE INSURANCE Life - Smart Wealth Assure

Introduction
SBI LIFE INSURANCE Life - Smart Wealth Assure is a Unit Linked non-participating
Life Insurance Plan. It is a single premium plan, wherein you have to pay premiums
once and you can continue to enjoy the benefits throughout the policy term. The plan
helps you to enjoy market related returns along with insurance cover with just a
single premium.
Key Features
Option to choose a mix of funds providing Market Linked Returns
Market Linked Returns provided through 2 funds Bond Fund & Equity
Fund to give you the best possible returns.
Pay only once and get the benefits throughout the Policy Term
Liquidity through Partial Withdrawal(s)
Option to customize the product with Accidental Death Benefit Option
Product Snapshot
Age at Entry
Min: 8 years
Max: 65 years
Age at Maturity
75 years
Policy Term
10 to 30 Years (both inclusive)
Premium Payment Term
Single Premium (SP)
Single Premium Amount (X

100)
Min: Rs 50,000
Max: No limit
Sum Assured
Min:
For Ages below 45 yrs : 1.25 x SP
For Ages 45yrs & above: 1.10 x SP
Max:
For Ages below 45 yrs : 5 x SP
For Ages 45yrs & above: 3 x SP
Benefits
Maturity Benefit: On completion of Policy Term, Fund Value will be paid.
Death Benefit: Higher of the Fund Value or Sum Assured is payable; with a
minimum of 105% of Single premium paid.
Accidental Death Benefit Option: Provides additional death benefit if the death
occurs as a result of an accident.
Tax Benefits:
will be limited up to 10% of the sum assured. Tax benefits, are as per the
provisions of the Income Tax laws & are subject to change from time to time.
Please consult your tax advisor for details.
SBI LIFE INSURANCE Life - Saral Maha Anand
Introduction
SBI LIFE INSURANCE Life - Saral Maha Anand is a product created just for you,
which will pleasantly surprise you with its sheer Simplicity and Convenience! It is a
unit linked, non-participating life insurance plan, which lets you manage your
investments according to your risk appetite, giving you the power to realize market
related returns on your policy. You can choose your required life insurance cover
subject to a minimum and a maximum level.
Key Features
No medical examination, Simple joining process

Guaranteed Additions of up to 30% of one annual premium, for a 20 year
policy term, subject to the Policy being in force till the maturity date.
Fund options, to enjoy market related returns as per your risk appetite.
No Premium Allocation Charge from 11th year onwards, thereby boosting your
fund value
Liquidity through partial withdrawals
Option to customize the plan through SBI LIFE INSURANCE Life - Accidental
Death Benefit Linked Rider (UIN: 111A019V02)
Twin Benefit of Market linked returns& insurance cover
Product Snapshot
Age at Entry
Minimum: 18 years
Max. Age at Maturity
65 years
Policy Term
10 years / 15 years / 20 years
Premium Range (x100)
Premium
Frequency
Minimum (in
Rs.)
Maximum (in Rs.)
Yearly
15,000
29,000
Half-yearly
9,500
14,500
Quarterly
5,500
7,200
Monthly
2,000
2,400
Premium Modes
Sum Assured
Maximum: 55 years
Yearly / Half-yearly / Quarterly / Monthly

Minimum (in Rs.)
Maximum (in Rs.)
Age 45
Age below 45
years or
years
above
Age below 45 Age 45 years

years
or above
10 x AP
20 x AP
7 x AP
20 x AP
Benefits:
Death Benefit: Higher of the Fund Value or Sum Assured is payable; with a
minimum of 105% of total basic premiums paid till the time of death
Rider Benefits:
SBI LIFE INSURANCE Life - Accidental Death Benefit Linked Rider: Provides
additional death benefit, if the death occurs as a result of an accident.
Tax Benefits
will be limited up to 10% of the sum assured.
Tax benefits, are as per the provisions of the Income Tax laws & are subject to
change from time to time. Please consult your tax advisor for details.
SBI LIFE INSURANCE Life - Smart Scholar

Introduction
Life begins afresh when you become a parent. Its a joy you never felt and a feeling
you never experienced. When your child takes baby steps towards you, nothing
seems more blissful. With this divine happiness comes a new sense of responsibility
thats close to your heart. You want to make your childs life a bed of roses or a
tender cushion. At SBI LIFE INSURANCE Life, we understand your needs and
provide you with a flexible and all-encompassing solution: SBI LIFE INSURANCE
Life - Smart Scholar, a non-participating Unit Linked Insurance Plan. Secure your
childs future by gaining from the financial markets. Our specially crafted Smart
Scholar Plan is as accommodating as you are to your child.
Key Features
Secure your childs future by gaining from the financial markets and much
more.
Dual protection for your family, in case you are not around - Payment of base
Sum Assured and Inbuilt Premium Pay or Waiver benefit to ensure
continuance of your policy
In addition, Accident Benefit which includes Accidental Death benefit and
Accidental Total and Permanent Disability (Accidental TPD) benefit, is an
integral part of the plan
Depending upon the term of the policy, Loyalty Additions would be paid
periodically, for in-force policies.
Enhanced investment opportunity through 7 varied fund options.
Twin benefits of market linked return & insurance benefit
Liquidity through partial withdrawal(s)
Product Snapshot :
Age at Entry
Child: Min: 0 years
Max: 17 years
Proposer: Min: 18
years
Max: 57 years
Max. Age at Maturity
65 years
Policy Term
Min:8 years
Max: 25 years less childs age at entry
On Maturity, the age of child should be between 18 to 25
years)
Premium Payment
Terms (PPT)
Premium
Amounts(x100)
Sum Assured
Single Premium (SP)

5 to 25 years (subject to the limits of policy term)
Minimum:
PPT
Frequency
Minimum(Rs)
SP
Single
75,000
Yearly
50,000
Half Yearly
25,000
5 years to 7 years
Quarterly
12,500
Monthly
4,500
Yearly
24,000
Half Yearly
16,000
8 years or more
Quarterly
10,000
Monthly
4,000
Maximum :
No Limit
For Single Premium:
Minimum
Maximum
Across all ages
Age<45 years
Age=>45 years
1.25 * SP
5 * SP
1.25 * SP
For other PPTs:
Minimum
Maximum
Age<45 years
Age=>45 years
Across all ages
Higher of: 10 * AP or
* T * AP
7 * AP
20 * AP
Benefits:
Maturity Benefit: On completion of Policy Term, Fund Value will be paid
Death Benefit: In the event of unfortunate death of life assured, a lump sum
benefit equal to higher of the Sum Assured or 105% of all premiums paid till
date of death will be payable. The company continues to pay your future
premium(s) on your behalf (inbuilt Premium Payer Waiver Benefit) and the
accumulated fund value will be paid at maturity. In case of your unfortunate
accidental death or accidental total and permanent disability we pay:
Additional benefit equal to Accident benefit Sum Assured. The Accident
Benefit and Premium Payer Waiver Benefit are not available in the Single
Premium policies
Tax Benefits: Tax deduction under Section 80C is available. However in case
the premium paid during the financial year, exceeds 10% of the sum assured,
the benefit will be limited up to 10% of the sum assured. Tax exemption under
Section 10(10D) is available at the time of maturity/surrender, subject to the
premium not exceeding 10% of the sum assured in any of the years during
the term of the policy. However, death proceeds are completely exempt. Tax
benefits, are as per the provisions of the Income Tax laws & are subject to
change from time to time. Please consult your tax advisor for details
SBI LIFE INSURANCE Life - Smart Elite

Introduction
SBI LIFE INSURANCE Life - Smart Elite is a Unit Linked Insurance plan - an
exquisitely crafted product, exclusively for special customers like you. It gives you
flexibility to pay premium(s) for limited term or single premium, with the freedom to
stay invested and protected for long term. Whats more, you have the power of
choosing the option best suited to your needs, at a very competitive rate. All this and
more, coming from SBI LIFE INSURANCE Life your preferred insurer, adds value
to your investments.
Key Features:
Pay premiums only for a limited term of 5, 8 or 10 years or a Single Payment,
as per your need and enjoy benefits throughout the chosen policy term.
No Premium Allocation Charges from 6th policy year onwards, thereby
enhancing your fund value Two protection options available: Gold Option &
Platinum Option
Invest in wide range of funds and manage them as per your convenience.
Life Insurance coverage with minimum Sum Assured of 10 or 7 times of your
Annual Premium (AP), based on your age.
Switch and redirection facility, to pilot your investments.
Option to increase/decrease your Sum Assured from 6th policy year onwards.
Accidental Death and Accidental Total and Permanent Disability (Accidental

TPD) benefit automatically comes to you as an integral part of the plan!
Product Snapshot
Age* at Entry
Min: 18 years
Age* at Maturity
65 years
Policy Term
5 to 20 years (both inclusive)
For Limited Premium Payment Term (LPPT) - 5 or 8 or

10 years.
For Single Premium - Single Payment.
Minimum Limited Premium

Amount (X 100)
Yearly
Half-yearly
Quarterly
Monthly
Minimum Single Premium

Amount (X 100)
Maximum Limited/Single
Premium Amount (X 100)
Premium Modes
Sum Assured
Max: 60 years
Rs 150,000
Rs 75,000
Rs 37,500
Rs 12,500
Rs 200,000
No limit
Single /Yearly /Half-yearly /Quarterly / Monthly
Minimum:
For LPPT For Ages below 45 yrs : 10* Annual Premium (AP)
For Ages 45yrs & above: 7* AP
For Single Premium (SP) For Ages below 45 yrs : 1.25 * SP
For Ages 45yrs & above: 1.10 * SP
Maximum:
For LPPT - For All Ages - 20 x AP
For SP For All Ages - 5 x SP
Benefits:
Death Benefit: For Gold Option: Higher of Fund Value or Sum Assured# is
payable; with a minimum of 105% of total premiums paid till the time of death.
For Platinum Option: Fund Value plus Sum Assured is payable; with a
minimum of 105% of total premiums paid till the time of death.
In-built Benefit: Accidental Death and Accidental Total and Permanent
Disability (Accident Benefit): Provides an additional benefit for Accidental
Death or Accidental TPD
Tax Benefits: Tax deduction under Section 80 C is available. However in case
the benefit will be limited up to 10% of the sum assured. Tax exemption under
Section 10(10D) is available at the time of maturity/surrender, subject to the
premium not exceeding 10% of the sum assured in any of the years during
the term of the policy. However, death proceeds are completely exempt. Tax
benefits, are as per the provisions of the Income Tax laws & are subject to.
SBI LIFE INSURANCE Life - Smart Power Insurance

Introduction
To have a secure future, which takes care of the financial needs of the family in case
of any eventuality and to meet lifes various goals, it is important that one starts
saving early and regularly. We present to you, SBI LIFE INSURANCE Life - Smart
Power Insurance, a non-participating unit linked insurance plan which takes care of
your insurance as well as investment needs. The product comes to you at
reasonable premium and is in tune with the current investment scenario. It is a
flexible product, which also takes care of your liquidity needs. Additional protection
requirement, due to changing personal and/or financial circumstances, is also taken
care by the product.
Key Features:
Two Plan Options to choose from: Level Cover Option - Sum Assured chosen
at inception remains the same throughout the policy term.
Increasing Cover Option - The initial Sum Assured increases by 10%, without
any additional underwriting, starting from 6th policy year and after every 5
years thereafter.
Advantage of Advancing the Policy Benefit to become your Living Benefit,
through our Inbuilt Accelerated Total & Permanent Disability (TPD) benefit
Two Fund options to choose from
Trigger Fund Option - Advantage of Buying Low and Selling High
Smart Funds Option - Option to choose from 7 varied funds
Flexibility through 2 free switches in a policy year
Liquidity through Partial Withdrawal(s)

Product Snapshot
Age at Entry*
Min: 18 years
Age at Maturity*
65 years
Policy Term
10 years, 15 to 30 years (both inclusive)
Same as policy term
Premium Amount (X 100)

Yearly
Half-yearly
Quarterly
Monthly
Premium Modes
Sum Assured
Max: 45 years
Min:
Rs 15,000
Rs 9,500
Rs 5,500
Rs 2,000
Max:
No limit
No limit
No limit
No limit
Yearly/Half-yearly/Quarterly/ Monthly
Min: Higher of [(10 x AP) or (0.50 x Term x AP)]
Max: 20 x AP
Note: The Sum Assured can never go beyond Rs. 1
Crore at any point of time
Benefits:
Maturity Benefit: On completion of Policy Term, Fund Value will be paid. Death
Benefit: Higher of the Fund Value or Sum Assured # is payable; with a minimum of
105% of total basic premiums paid till the time of death. In-built Accelerated Total
and Permanent Disability (TPD) Benefit: In case of TPD due to Accident or Sickness,
100% of the Death Benefit (as defined above) will be paid immediately and thereafter
the policy would terminate. Tax Benefits: Tax deduction under Section 80 C is
available. However in case the premium paid during the financial year, exceeds 10%
of the sum assured, the benefit will be limited up to 10% of the sum assured. Tax
exemption under Section 10(10D) is available at the time of maturity/surrender,
subject to the premium not exceeding 10% of the sum assured in any of the years
during the term of the policy. However death proceeds are completely exempt.
SBI LIFE INSURANCE Life - Saral Pension

Introduction
Retirement - means giving up work and continuing to Celebrate Life!
SBI LIFE INSURANCE Life - Saral Pension is an Individual, Participating, Non
Linked, Traditional Pension Plan, which offers you complete safety from market
volatility, by providing you a secure future and a joyous retirement
Key Features:
Guaranteed Bonus: Guaranteed simple reversionary Bonuses for first 5 years;

@ 2.50% for first three years and @2.75% for the next two years, of the Sum
Assured. Guaranteed bonus will be applicable only to in-force policies.
Vesting (Maturity) benefit: Sum Assured plus vested simple reversionary
bonuses plus terminal bonus, if any. The sum assured carries an implicit
guaranteed interest rate of at least 0.25% p.a. compounding annually on the
total premiums.
Death Benefit: Higher of total premiums paid accumulated at an interest rate
of 0.25% p.a. compounded annually plus vested reversionary bonus plus
terminal bonuses, if any or 105% of total premiums paid.
Life Cover: Option of additional life cover through SBI LIFE INSURANCE Life
- Preferred Term Rider (UIN: 111B014V02).
On Vesting, you can buy immediate annuity from your entire proceeds or
commute up to one-third of the policy proceeds and buy annuity with the rest.
Flexibility: You can defer the vesting date unto age of 70 years or extend the
accumulation / deferment period of your policy.
Product Snapshot
Age at Entry
Min: 18 years
For Single premium: 65

years,
For Regular premium: 60
years
Max: 70 years
Max:
Age^ at Vesting Min: 40 years

Policy Term
Min:For Single premium: 5 years,
Max:40 years
For Regular premium: 10
years
Sum Assured** Min: Rs.1,00,000/Max: No Limit
Premium
Single / Yearly / Half-yearly / Monthly#
Frequency
The premiums for various modes as percentage of annual premium
are given below:
Monthly Premium- 8.4% of annual premium
Half-yearly Premium- 50.2 % of annual premium
Premium
Min: Rs.7,500 p.a.
Max: No Limit
Benefits
Vesting Benefit: On attaining the vesting age, the vesting benefit proceeds will
be the Sum Assured plus Vested Simple Reversionary bonus plus Terminal
bonus, if any. You have the following options: To purchase immediate annuity
from the entire policy proceeds. To purchase immediate annuity with an option
to commute up to one-third of the policy proceeds as per current Income Tax *
rules. To utilize the entire proceeds to purchase a Single premium deferred

pension product .To extend the accumulation period or defer the vesting date,
provided you are below age of 55 years on vesting. The maximum extended
period will be up to age 70 years
Death Benefit: In an event of death of the policyholder, the death benefit
proceed will be higher of total premiums paid accumulated at an interest rate
of 0.25% p.a. compounded annually plus vested reversionary bonus plus
terminal bonuses, if any, or 105% of total premiums will be paid to the
nominee. The nominee will have the following options: To receive entire
proceeds as lump sum Utilize the entire proceeds of the policy or part thereof
for purchasing an annuity at the then prevailing rate. The annuity should be
purchased from SBI LIFE INSURANCE Life only. The annuity rates available
for the purchase of this annuity will be based on the prevailing annuity rates
on the immediate annuity product.
Tax Benefits: Premium paid under this policy is eligible for tax deduction u/s
80CCC of the Income Tax Act. On vesting, the policy holder can currently
commute up to one-third of the policy proceeds as per Income Tax Act, 1961.
This commuted value is exempted from tax under section 10(10A) (iii) of the
Income Tax Act 1961. The non-commuted pension amount taken in the form
of immediate annuity is currently taxable.
SBI LIFE INSURANCE Life - Retire Smart

Introduction
Due to higher disposable incomes and breakthrough in medical sciences, longevity
has increased to a great extent. We are all living longer after retirement. Retirement
may sound distant to you at the moment. However, it could span as long as onefourth of our lifetime and is ever increasing; and not many of us have really noticed
or even thought about that. Moreover, many people underestimate how much they
need to save for retirement. Thus, for creating a retirement corpus, systematic &
disciplined investment is required during ones earning years. We present to you, SBI
LIFE INSURANCE Life - Retire Smart, a non-participating unit linked pure pension
plan, which guarantees you minimum of 101% of all premiums paid, when policy is in
force, on Maturity/Vesting; thus the downside risk in the market is protected to a
great extent.
Key Features:
Your Fund Value is boosted, through guaranteed additions of up-to 210%* of
Annual Premium (Conditions Apply) Guaranteed Additions of 10% of Annual
Premium are paid regularly, starting from the end of 15th policy year and at
the end of every year thereafter till the end of policy term.
Get Terminal Additions of 1.5% of Fund Value, at maturity/vesting or on earlier
death
No need to worry about your investments, as the same is managed on your
behalf by SBI LIFE INSURANCE Life through Advantage Plan. This plan
guarantees a minimum of 101% of all premiums paid at maturity/vesting
Get a Guarantee of minimum 105% of all premiums paid on earlier death.
Option to pay premiums regularly or for a limited period.

Flexibility to postpone your vesting age.
SBI LIFE INSURANCE Life - Annuity Plus

Introduction
SBI LIFE INSURANCE Life - Annuity Plus, a traditional, non-participating immediate
annuity plan, which offers a comprehensive range of annuity options along with
inbuilt flexibilities. It provides an opportunity to you to maintain your standard of
living.
Key Features:
Complete freedom to choose from a wide range of Annuity options
Enjoy a regular income (annuity payout) from an early age of 40 years
You have an option to have Lifetime Annuity payout for you as well as a family
member
Flexibility to choose frequency of annuity payouts as per your requirements Monthly, Quarterly, Half-yearly or yearly
Incentives of higher annuity rates for large premiums
Flexibility to advance your Annuity payouts
Return of premium or balance premium
SBI LIFE INSURANCE Life - Annuity Plus
Introduction
SBI LIFE INSURANCE Life - Annuity Plus, a traditional, non-participating immediate
annuity plan, which offers a comprehensive range of annuity options along with
inbuilt flexibilities. It provides an opportunity to you to maintain your standard of
living.
Key Features
Complete freedom to choose from a wide range of Annuity options
Enjoy a regular income (annuity payout) from an early age of 40 years
You have an option to have Lifetime Annuity payout for you as well as a family
member
Flexibility to choose frequency of annuity payouts as per your requirements Monthly, Quarterly, Half-yearly or Yearly
Incentives of higher annuity rates for large premiums
Flexibility to advance your Annuity payouts
Return of premium or balance premium
Product Snapshot
Age Limits*
Minimum age at entry : 40 years

Maximum age at entry: 80 years
Annuity Payout
(per installment)
Minimum : Monthly: Rs.200, Quarterly: Rs.600,

Half-yearly: Rs.1,200, Yearly: Rs.2,400
Maximum: No limit
Annuity payout mode
Monthly, Quarterly, Half-yearly or Yearly
Premium Amounts
Minimum: Such that the minimum annuity installment can

be paid
Maximum.: No Limit
Wide Variety Annuity Options available

Life Annuity (Single Life): Annuity payout at guaranteed rate, through-out the
life of the annuitant. You may choose from following options:
Lifetime Income
Lifetime Income with Capital1 Refund
Lifetime Income with Capital1 refund in parts
Lifetime income with Balance Capital 2 Refund: Annuity is payable at a
constant rate throughout the life. On death, the Balance capital (in case
positive) will be paid.
Lifetime income with Annual Increase of 3% or 5%: Annuity payout increases
at a simple rate of 3% or 5% p.a. for each complete year and is payable
throughout the life of the annuitant. All future annuity payouts cease
immediately on death and the contract terminates
Lifetime income with certain period of 5, 10, 15 or 20 years and life thereafter
Annuity is payable at a constant rate for a minimum fixed period of 5, 10, 15
or 20 years; and for life thereafter.
Life Annuity (Two lives): The annuity payout will continue at a guaranteed
rate, throughout the life of the annuitants. You may choose from below
options:
Life and Last Survivor - 50% or 100% Income without Capital Refund
Life and Last Survivor - 50% or 100% Income with Capital Refund
SBI LIFE INSURANCE Life - Smart Shield

Introduction
SBI LIFE INSURANCE Life - Smart Shield is a traditional non-participating pure term
plan, which is a one stop solution that meets all your insurance needs. With Options
and benefits specially tailored for those who want best financial protection at an
affordable cost, this is the perfect plan from your preferred insurance provider. Now
your
family
stays
protected,
even
when
you
are
not
around.
Key Features:
Establishes a solid foundation for a lifetime of financial security of your family.
Rewards you for maintaining a healthy lifestyle. Wide variety of plan options to give
you freedom from your liabilities. Large Sum Assured rebates. You can also
customize your coverage by choosing from a wide range of additional benefits such
as SBI LIFE INSURANCE Life - Accidental Death Benefit Rider, SBI LIFE
INSURANCE Life - Accidental Total and Permanent Disability Benefit Rider and
Accelerated Critical Illness cover option. Tax benefits* as per prevailing norms under
the Income Tax Act, 1961.
Product Snapshot:
Age at Entry
Min: 18 years
Age at Maturity
Max: 65 years
Plan Options
Max: 60 years
i) Level Term Assurance

ii) Increasing Term Assurance
iii) Decreasing Term Assurance (Loan Protection)
iv) Decreasing Term Assurance (Family Income Protection)
Sum Assured
Policy Term
Min: Rs 25,00,000 (in

multiples of Rs.1,00,000)
Min: 5 years
Max: No limit
Max: For Level Term Assurance
and Increasing Term Assurance
and Decreasing Term Assurance
(Family Income Protection): 30
years
For Decreasing Term Assurance
(Loan Protection): Equal to the
outstanding loan term subject to
maximum of 30 years
Premium Paying Term Regular Premium -pay premium till the chosen policy term
Single Premium - pay premium once for coverage till the
chosen policy term
Premium Modes
For Level Term Assurance, Increasing Term Assurance: Single
Premium (SP), or Regular Premium(RP) (Yearly / Half-yearly /
Quarterly / Monthly#)
Premium Amounts
For Decreasing Term Assurance (Loan Protection)and

Decreasing Term Assurance (Family Income Protection) :
Single Premium
Min
Max: No limit
Rs.
Single Premium :
15,000
Regular
Premium :
Yearly :
Half-yearly :
Quarterly :
Monthly# :
Rs 5,000
Rs 2,500
Rs 1,250
Rs. 450
Benefits:
Death Benefit: In case of the unfortunate demise of the life assured during the term
of the policy, the nominee will receive the benefits, depending on the plan option
chosen.
Maturity Benefit: No survival benefit available at the end of the term.
Other Benefits:
Cover Option - Accelerated Critical Illness benefit: You have the option to further
enhance your Level Term Assurance and Increasing Term Assurance by opting for
the Accelerated Critical Illness benefit. This option is available with Level Term
Assurance and Increasing Term Assurance benefit.
Riders: SBI LIFE INSURANCE Life - Accidental Death Benefit Rider (UIN:
111B015V02) In case of death due to an accident, the Rider Sum Assured is payable
in addition to normal death benefit.
SBI LIFE INSURANCE Life - Accidental Total and Permanent Disability Benefit Rider
(UIN:
111B016V02)
The Rider Sum Assured will be paid on the Life Assured being found eligible for the
Total Permanent Disability Benefit as defined in the policy document.
Tax Benefits
Tax deduction under Section 80 C is available. However in case the premium paid
during the financial year, exceeds 10% of the sum assured, the benefit will be limited
up to 10% of the sum assured.
Tax deduction under Section 80D is available for premiums paid for Accelerated
Critical Illness cover
Tax exemption under Section 10(10D) is available at the time of maturity/surrender,

subject to the premium not exceeding 10% of the sum assured in any of the years
during the term of the policy. However, death proceeds are completely exempt.
SBI LIFE INSURANCE Life - Saral Shield
Introduction
SBI LIFE INSURANCE Life - Saral Shield is a traditional non-participating pure term
Insurance plan. At an affordable cost, SBI LIFE INSURANCE Life Saral Shield
provides cover for your family and ensures that a proper safety net is created. Thus,
it guarantees that there will be no compromise on your dreams and ambitions for
your loved ones
Key Features
Hassle-free, convenient and easy issuance.
Financial Security.
Freedom from your liability by choice on one of the following plan options:
Level Term Assurance; Decreasing Term Assurance (Loan Protection);
Decreasing Term Assurance (Family Income Protection)
Special premium discounts for women.
Large sum assured rebates.
Large sum assured rebates. Large sum assured rebates.
Enhance your protection by availing two riders-SBI LIFE INSURANCE LifeAccidental Death Benefit Rider and SBI LIFE INSURANCE Life- Accidental
Total and Permanent Disability Rider
Tax benefits as per prevailing norms under the Income Tax Act, 1961*
Plan at a Glance
Age at Entry
Min: 18 years
Age at Maturity
Max: 65 years
Plan Options
Level Term Assurance

Decreasing Term Assurance (Loan Protection)
Decreasing Term Assurance (Family Income Protection)
Sum Assured (x
50,000/-)
Min: Rs. 7,50,000
Policy Term
Min: 5 years
Max:
Level Term Assurance &
Decreasing Term
Assurance(Family Income
Protection)
Decreasing Term
Max: 60 years
Max: Rs. 24,00,000
30 years
Equal to the outstanding
Assurance(Loan Protection) loan term subject to

maximum of 30 years
Premium Paying Term
Regular Premium -pay premium till the chosen policy term

Single Premium -pay premium once for coverage till the
chosen policy term
Premium Modes
For Level Term Assurance:

Single Premium (SP), or
Regular Premium(RP) : Yearly / Half-yearly / Quarterly /
Monthly
For Decreasing Term Insurance (Loan Protection) &
Decreasing Term Insurance (Family Income Protection) :
Single Premium
Min Premium Amounts
Regular Premium:
Yearly:
Half-yearly:
Quarterly:
Monthly:
Single Premium:
Rs. 2,000/Rs. 1,100/Rs. 600/Rs. 250/Rs. 10,000/-
Benefits
Death Benefit: In case of the unfortunate demise of the life assured during the
term of the policy, the nominee will receive the benefits, depending on the
plan option chosen.
Maturity Benefit: No survival benefit available at the end of the term.
Riders
SBI LIFE INSURANCE Life - Accidental Death Benefit Rider (UIN:
111B015V02)
In case of death due to an accident, the Rider Sum Assured is payable in
addition to normal death benefit.
SBI LIFE INSURANCE Life - Accidental Total and Permanent Disability
Benefit Rider (UIN: 111B016V02) The Rider Sum Assured will be paid on the
Life Assured being found eligible for the Total Permanent Disability Benefit as
defined in the policy document.
Tax Benefits
Tax deduction under Section 80 C is available. However in case the
premium paid during the financial year, exceeds 10% of the sum assured,
the benefit will be limited up to 10% of the sum assured.
Tax benefits, are as per the provisions of the Income Tax laws & are subject
to change from time to time. Please consult your tax advisor for details.
SBI LIFE INSURANCE Life eShield

Introduction
SBI LIFE INSURANCE Life eShield is an Individual, Non Linked, Non-Participating
pure term plan, with options and benefits specially tailored for those who want the
best financial protection at an affordable cost.
Key Features
Security for your family at an affordable premium.

Easy and seamless online process for securing life cover.
Rewards you for maintaining a healthy lifestyle.
Wide variety of plan options, which has level and increasing cover.
Additional benefit of Accidental Death Benefit.
Tax benefits# u/s 80C and 10(10D) of Income Tax Law, 1961
Product Snapshot
Plan Options
Age at Entry
Level Cover
Level Cover with Accidental Death Benefit
Increasing Cover
Increasing Cover with Accidental Death Benefit
Min: 18 years
Max: For Level Cover & Level

Cover with Accidental Death
Benefit: 65 years
For Increasing Cover & Increasing
Benefit: 60 years
Maximum Age at
70 years
Maturity
Basic Sum Assured Min: Rs. 20, 00,000/- Sum
Max:No Limit (Subject to
Policy Term
Assured would be in
underwriting)
multiples of Rs.1, 00,000
only.
Min:For Level Cover & Level Max: 30 years
Benefit: 5 years
For Increasing Cover &

Increasing Cover with
Accidental Death Benefit: 10
years
Premium Frequency Yearly
Premium Payment Same as Policy term
term
Premium Amount
Min: Rs. 3,500
Max: No Limit
Benefits:
On Death:
Depending upon the Plan option chosen, the nominee will receive the
Effective sum assured at the time of death. Death benefit will be paid provided
all regular premiums are paid and the policy is in force as on the date of claim.
On Maturity: No survival benefit available at the end of the term.
Other Benefits: Accidental Death Benefit: Inbuilt under plan options - Level
Cover with Accidental Death Benefit and Increasing Cover with Accidental
Death Benefit.
In case one of the above plan options is chosen, then in case of death of the
life assured due to accident during the policy term, Accidental Death Benefit
will be paid to the beneficiary in addition to the effective sum assured at the
time of death.
The Accidental Death Benefit will be equal to the Basic sum assured or Rs. 50
Lakhs whichever is lower.
SBI LIFE INSURANCE Life - Garmin Bima
Introduction
The objective of this product is to provide life cover to the deprived sections of the
society at affordable costs thereby aiding them tide over difficult times in case of an
unforeseen event. SBI LIFE INSURANCE Life - Garmin Bima is an individual, pure
term, micro-insurance plan for the socially deprived and economically vulnerable
segments of the population.
Key Highlights
Choose your premium; correspondingly your life insurance cover will be determined.
Prompt Processing & Enrolment, No medical examination, acceptance would be
based on satisfactory health declarations in the proposal form Registration based on
a simple form
Eligibility
Age at entry
Minimum: 18 years
Policy Term
5 years
Total Premium
Amount
Minimum: Rs. 300**
Maximum: 50 years
Maximum: Rs. 2000**
Premium amounts will be in multiples of Rs. 100
Premium Frequency Single

Minimum: Rs. 10,000
Maximum: Rs. 50,000
Age Band
Sum Assured
18 39
60 times Total premium

paid
40 44

paid
45 50

paid
Sum Assured
Benefits under the plan:
Death Benefit
In the unfortunate event of death of the life assured during the policy term, the
nominee will receive the Sum Assured.
Maturity Benefit: There is no maturity benefit under this plan.
Surrender Benefit
Surrender is allowed from 2nd year onwards.
No surrender benefit is payable in the last year of the policy.
Tax Benefits
Alongside other features, this product also offers you the following tax
benefits:
U/s 80C of the Income Tax Act 1961 on your base premium.
U/s 10 (10D) of the Income Tax Act 1961 on the death proceeds.
SBI LIFE INSURANCE Life ShubhNivesh
Introduction
SBI LIFE INSURANCE Life - Shubh Nivesh is a non- linked, with profit Endowment
Assurance product with an option of Whole Life coverage. The basic purpose is to
provide Savings, Income and Insurance Cover to you and your family. Not only you
can save regularly for your future but you also have the flexibility to receive the
maturity amount as a lump sum or as a regular income for a chosen period,

depending upon your needs.
Key Features
A savings plan with flexibility of availing whole life insurance as an add-on
benefit
Benefits including Wealth Creation, Insurance cover and Regular flow of
income
Flexibility to choose between Single or Regular premium payment
Additional rider benefits at an affordable cost
Option to receive the Basic Sum Assured at regular intervals over a stipulated
time period of 5/10/15/20 years Comprehensive risk coverage through 3
Riders: SBI LIFE INSURANCE Life - Preferred Term Rider. SBI LIFE
INSURANCE Life - Accidental Death Benefit Rider Life - Accidental Total &
Permanent Disability Benefit Rider .Tax benefits as per prevailing norms
under the Income Tax Act, 1961
Shubh Nivesh at a Glance:

Age at Entry
Min.:18 years
Max.: Endowment Option:

RP - 58 years
SP - 60 years
Endowment with Whole Life
option - 50 years
Maximum Age at
Maturity
65 years, which increases to 100 years if the Endowment

with Whole Life option is taken
Sum Assured
Min: Rs.75,000 (x 1,000/-)
Max: No Limit
Policy Term
Min.:
Endowment Option
7 (RP) / 5 (SP) years
Endowment with Whole life
option
15 (RP) / 15 (SP) years
Max.:30 years (Endowment

Term)
Premium Frequency
Single Premium / Yearly / Half-yearly / Quarterly / Monthly#
Premium Paying Term Same as policy term

Premium Frequency
Loading
Half-Yearly: 52% of annual premium

Quarterly: 26.5% of annual premium
Monthly: 8.9% of annual premium
Premium
Min.
Max.
Single Premium: Based on

the minimum Sum Assured
No Limit
Yearly: Rs.6,000
No Limit
Half yearly: Rs. 3,000
No Limit
Quarterly: Rs. 1500
No Limit
Monthly: Rs. 500
No Limit
Benefits
Maturity Benefit: Depending upon the plan option chosen: Endowment Option
After completion of endowment term, the Basic Sum Assured + Vested Simple
Reversionary Bonuses + Terminal bonus, if any will be paid, provided the
policy is in-force. Deferred Maturity Payment option is available: Can be
selected at the end of the endowment term
Endowment with Whole Life Option
After completion of endowment term the Basic Sum Assured + Vested Simple
Reversionary Bonuses + Terminal bonus, if any will be paid, provided the
policy is in-force.
Deferred Maturity Payment option is available: Can be selected at the end of
the endowment term
On attainment of 100th birthday: Basic Sum Assured will be paid
Death Benefit: In the unfortunate death of the Life Assured, depending upon
the plan option chosen:
Endowment Option: Death before the completion of endowment term
provided the policy is in-force: For Regular Premium: Higher of A or B is paid
to the nominee, where: Sum Assured on death + Vested Simple Reversionary
Bonuses + Terminal bonus, if any.
Sum assured on death is higher of Basic Sum Assured or a multiple of

annualised premium; where multiple is:
Endowment with Whole Life Option
Death before the completion of endowment term provided the policy is inforce:
Death Benefit as defined under point 1 of Endowment option, will be paid to

the nominee.
Death after completion of the endowment term and up to 100 years of age:
Basic Sum Assured benefit will be paid to the nominee.
Balance amount of Deferred Maturity Payment Option, if availed and if any,

will be paid to the nominee. However, the nominee has an option to take the
remaining installments in lump sum which will be equal to the discounted
value of the remaining installments.
Other Benefits
Deferred Maturity Payment Option You can use this option to get income at
regular intervals. At the end of the endowment term you can either withdraw
the full sum assured along with accumulated bonuses or you can withdraw
only the bonus, leaving the basic sum assured to be drawn as income at
regular intervals over a stipulated time period of 5 , 10 , 15 or 20 years.
Income will be paid at a frequency (Yearly/Half-Yearly/Quarterly/Monthly) of
your choice
Three sets of riders: SBI LIFE INSURANCE Life - Preferred Term Rider : The
Preferred Term rider Sum Assured is payable in addition to normal death
benefit .SBI LIFE INSURANCE Life - Accidental Death Benefit Rider : In case
death due to an accident, the rider Sum Assured is payable in addition to
normal death benefit .SBI LIFE INSURANCE Life - Accidental Total &
Permanent Disability Benefit Rider : The rider Sum Assured will be paid on the
Life Assured being found eligible for the Total Permanent Disability Benefit as
defined in the policy document.
Tax Benefits: Tax deduction under Section 80(C) is available. However in case
Tax exemption under Section 10(10D) is available, subject to the premium not
exceeding 10% of the sum assured in any of the years during the term of the
policy.
Tax benefits, are as per the Income Tax laws & are subject to change from
time to time. Please consult your tax advisor for details
SBI LIFE INSURANCE Life - Saral Swadhan+

Introduction:
SBI LIFE INSURANCE Life - Saral Swadhan+ is an Individual, non-linked, nonparticipating, term assurance product with return of premium. This product gives you
a fixed life cover throughout the policy term along with a guaranteed maturity benefit.
Key Features:
Protection at affordable cost.
Value for money.
Easy enrollment through simplified proposal form.
Product Snapshot:
Age at Entry
Min: 18 years
Max:55 years
Age at
Maturity
Min:28 years
Max: 70 years
Policy Term
10 / 15 years
Sum Assured
Min:Rs. 30,000
Max:Rs. 4,75,000
Sum assured is defined as a multiple of annual

premium paid as per the policy term chosen and age at
entry, as given below.
Premium
Age at Entry
(years)
Policy term - 10
years
Policy term - 15
years
18-30
80
95
31-35
65
70
36-40
50
55
41-45
35
40
46-50
25
30
51-55
20
20
Min: Rs. 1,500

Max:Rs. 5,000
Premiums are in multiple of Rs. 500.
Service tax (including cases) & J & K - GST will be borne by
us, hence no additional amount will be charged from you.
10 years (Fixed for both the Policy terms)
Premium
Payment term
Premium
Yearly
Frequency
Benefits:
On Maturity: On survival till the end of the policy term you get,
Policy term 10 years - 100% of the total premiums paid
Policy term 15 years - 115% of the total premiums paid
Maturity benefit will be payable provided at least 3 annual premiums have
been paid
Paid up value: Any time during the policy term if the premiums are not paid
within grace period, the policy shall lapse.
A lapsed policy will acquire paid-up only if at least three years premiums have
been paid.
A lapsed policy gives you the reduced benefits: Paid-up death benefit: will be
reduced to the same proportion as the ratio of the number of premiums paid
to the total number of premiums actually payable. The sum assured so
reduced will be called paid-up sum assured. The policy can remain in-force for
the reduced coverage
Paid-up maturity benefit: will be 100% and 115% of Total Premium Paid for
policy term 10 years and 15 years respectively.
On Death: In case of death of life assured during the policy term, the nominee
will receive Sum assured.
Tax Benefits: Tax deduction under Section 80(C) is available. However in case
SBI LIFE INSURANCE Life - Flexi Smart Plus

Introduction
SBI LIFE INSURANCE Life - Flexi Smart Plus is Individual, Participating, and
Variable Insurance Product, which helps you in fulfilling your dreams. It also gives
you flexibility to adapt to your ever-changing needs, while assuring guaranteed
benefits to take care of your savings.
Key Features:
Guaranteed Minimum Bonus Interstate: A minimum bonus interest rate of 1.00% p.a.
is guaranteed for the whole term. Interim bonus interest rate: An Interim bonus
interest rate will be declared at the beginning of each financial year which will apply
to the policies exiting during the financial year. Regular Bonus Interest rate: Regular
Bonus interest rate will be declared at the end of every financial year.
Terminal Bonus Interest rate: Terminal bonus interest rate may be credited to your
policy account at the time of exit on account of maturity, death or surrender. Your
policy will be credited with the Regular Bonus interest rates and Terminal Bonus
interest rate, if any. Regular bonus interest rate once declared becomes guaranteed
for the policy account
Plan at a Glance :
Age at Entry
Min:18 years
Max: 60 years
Age at Maturity
Min:23 years
Max: 65 years
Sum Assured
Basic Sum Assured = Annualized Basic Premium

SAMF
Sum Assured Multiple

Factor (SAMF)
Min:SAMF Higher of
10 / 7 (age < 45 / age > = 45) OR
0.50/ 0.25(age < 45 / age > = 45) x
Policy Term
Max: 20
Policy Term
Min: 5 years
Max: 30 years
Premium Paying Term
Same as policy term
Premium Frequency
Yearly / Half-yearly / Quarterly / Monthly#
Premium Amounts
(in multiples of Rs 100)*
*In case of mode change it
may be in multiples of Re 1
Yearly Half-yearly Quarterly Monthly -
Min
Rs 50,000
Rs 30,000
Rs 20,000
Rs 9,000
No Limit
Benefits:
On Death: In case of unfortunate event of death of the Life Assured, the

beneficiary will receive the following benefit: For Gold Option: Higher of Policy
Account Value or Sum Assured^ / Paid-up Sum Assured^ as applicable or
105% of total premiums paid as on the date of intimation of death claim.
Sum assured will be reduced to the extent of partial withdrawals made in the
last 2 years for age on death below 60 years and for age at death 60 years &
above all partial withdrawals made from 58 years onwards.
For Platinum Option: Higher of Policy Account Value PLUS Sum Assured /
Paid-up Sum Assured as applicable or 105% of total premiums paid as on the
date of intimation of death claim
On Survival
Maturity Benefit On maturity, the policy holder will be entitled to policy account
value including Terminal Bonus interest rate if any, calculated on the maturity
date and will be payable as a lump sum on maturity.
Tax Benefits: Tax deduction under Section 80 C is available. However in case

Major outcome of Life Insurance Policies:

Provides flexibility in investments
ULIPs offer a complete selection of high, medium and low risk investment options
under the same policy. You can choose an appropriate policy according to your risk
taking appetite, coupled with the opportunity to switch between fund options without
any additional expense for specified number of switches. ULIPs provide the flexibility
to choose the sum assured and investment ratio in the annual targeted premium. It
also offers the flexibility of one time increase in investment portfolio, through top-ups
to avail investment opportunity offered by external environment or own income flows.
Transparency
The charge structure, value of investment and expected IRR based on 6% and 10%
rate of returns, for the complete tenure of the policy are shared with you before you
buy a product. Similarly, the annual account statement, quarterly investment portfolio
and daily NAV reporting, ensures that you are aware of the status of your investment
portfolio at all times. Most companies publish latest NAVs on their respective
websites on a daily basis.
Liquidity
To cope with unforeseen circumstances, ULIPs offer the benefit of partial withdrawal;
wherein after 5 years you can withdraw funds from our Unit Linked account, retaining
only the stipulated minimum amount.
Disciplined and regular savings
ULIPs help you inculcate a regular saving habit. Also, the average unit costs tend to
be lower than one time investment multiple benefits bundled in one product
ULIP is an outstanding solution for risk cover, long term investments with the benefit
of various investment opportunities, coupled with tax benefits.
Spread of risk
ULIPS are ideal for those investors who wish to avail the benefit of market linked
growth without actually participating in the stock market, with the added benefit of
risk-cover
Insurance Sector Today: Opportunities and Challenges

Opportunities
As compared to the Western countries, where they have already reached a stage of
saturation, India can exploit some golden opportunities in the following fields.
1. Mass Marketing
India is a highly populated country and would continue to be so in the near future.
New players may tend to favor the "creamy" layer of the urban population. But, in
doing so, they may well miss a large chunk of the insurable population. A strong case
in point is the current business composition of the dominant market leader - the Life
Insurance Corporation of India. The lion's share of its new business comes from the
rural and semi-rural markets. In a country of 1 billion people, mass marketing is
always a profitable and cost-effective option for gaining market share
The rural sector is a perfect case for mass marketing. Competition in rural areas
tends to be "kinder and gentler" than that in urban areas, which can easily be termed
cutthroat. Identifying the right agents to harness the full potential of the vibrant and
dynamic rural markets will be imperative. Rural insurance should be looked upon as
an opportunity and not an obligation. A smaller bundle of innovative products in sync
with rural needs and perceptions, and an efficient delivery system are the two
aspects that have to be developed in order to penetrate the rural markets.
2. Job Opportunities
Job opportunities are likely to increase manifold. The liberalization of the insurance
sector promises several new job opportunities for those who are equipped with
degrees in finance. Finance professionals who had witnessed a slump in the job
market
would
be
much
relieved.
There will be demand for marketing specialists, finance experts and human resource
professionals. Apart from this, there will be high demand for professionals in streams
like underwriting and claims management, and actuarial sciences.
3. Inflow of Funds
There could be a huge inflow of funds into the country. Given the industry's huge
requirement of start-up capital, the initial years after opening up are bound to see a
strong inflow of foreign capital. A rise in the equity share of foreign partners to 49
percent will act as a boost to them.
4. Reinsurance
Huge capacity is likely to be created in the area of reinsurance. Apart from pure
reinsurance activities, which involves providing insurance protection, there will be a
revolution in service-related fields like training, seminars, workoffices, know-how
transfer regarding risk assessment and rating, risk inspections, risk management
and devising new policy covers, etc.
5. Marketing Strategies
Also, with more players in the market, there will be significant increase in advertising,
brand building, and this will benefit whole lot of ancillary industries.
A substantial shift is likely to take place in the distribution of insurance in India. Many
of these changes will echo international trends. Worldwide, insurance products move
along a continuum from pure service products to pure commodity products. Initially,
insurance is seen as a complex product with a high advice and service component.
Buyers prefer a face-to-face interaction and place a high premium on brand names
and reliability. As products become simpler and awareness increases, they become
off-the-shelf, commodity products. Sellers move to remote channels such as the
telephone or direct mail. Various intermediaries, not necessarily insurance
companies, sell insurance. In some countries like Netherlands and Japan, insurance
is marketed using the Post Office's distribution channels. At this point, buyers look for
low price. Brand loyalty could shift from the insurer to the seller.
6. Bank assurance
In other markets, notably Europe, this has resulted in bank assurance: banks
entering the insurance business. The Netherlands led with financial services firms
providing an entire range of products including bank accounts, motor, home and life
insurance, and pensions. Other European markets have followed suit. In France,
over half of all life insurance sales are made through banks. In the UK, almost 95%
of banks and building societies are distributing insurance products today.
In India too, banks hope to maximize expensive existing networks by selling a range
of products. Many bankers have shown an inclination to enter the insurance market
by leveraging their strengths in the areas of brand image, distribution network, and
face to face contact with the clients and telemarketing coupled with advanced
information technology systems. Insurers in India should also explore distribution
through non-financial organizations. For example, insurance for consumer items
such as refrigerators can be offered at the point of sale.
7. Information Technology
Worldwide interest in E-commerce and India's predominant position in Information
Technology and software development are also likely to be major factors in the
marketing of insurance products in the immediate future. The number of Internet
account is increasing and the trend has already been set by some of the leading
insurers
and
insurance
brokers
worldwide.
Challenges
If one has opportunities, one has to face challenges; it is like two sides of the same
coin. No doubt India has a lot of opportunities coming her way, but there are a few
challenges and threats as well. The four main challenges facing the industry are
product innovation, distribution, customer service, and investments. Unit-linked
personal insurance products might find greater acceptability with rising customer
awareness about customized, personalized and flexible products. Flexible products
and new technology will play a crucial role in reducing the cost and, therefore, the
price of insurance products. Finding niche markets, having the right product mix
through add-on benefits and riders, effective branding of products and services and
product differentiation will be some of the challenges faced by new companies.
1. Technology
In today's highly competitive financial services environment, effective organizations
will employ technology in a strategic way so to achieve a competitive edge.
Technology will play an increasing role in aiding design and administering of
products, as well in efforts to build life-long customer relationships. At the same time,
investment in technology will only help as long as firms find the right people: people
with the right attitude, values, and ethics, commitment to excellence, and focus on
customer service. The critical success factor is a top-down emphasis on exceeding
customer expectations with quality people, excellent products, and legendary
service. As has been seen in other financial services, the entry of private players
ensures that the customer will be the beneficiary in the long run. It will also result in
enlarging the market and extending the reach of insurance across the country.
2. Competition
Thus, apart from the normal issues facing any new company, many new Indian
private insurance players will need to cope with the challenges of working with a joint
venture partner. They will be competing with large and well-entrenched governmentowned players. They have to overcome regulatory hurdles, change the attitude of
new recruits and satisfy some very high customer expectations. Also, the players will
have to consider the Indian market as a long-term investment, and maintain clear-cut
objectives and constant monitoring at all levels.
The Way Ahead

With the entry of competition, the rules of the game are set to change. The market is
already beginning to witness a wide array of products from players whose number is
set to grow. In such a scenario, the differentiators among the different players are
products, pricing, and service. Consumers are increasingly more aware and are
actively managing their financial affairs. Today, while boundaries between various
financial products are blurring, people are increasingly looking not just at products,
but at integrated financial solutions that can offer stability of returns along with total
profits. To satisfy these myriad needs of customers, insurance products will need to
be customized. Insurance today has emerged as an attractive and stable investment
alternative that offers total protection - Life, Health and Wealth Protection.
Consumers today also seek products that offering flexible options, preferring
products with benefits unbundled and customizable to suit their diverse needs. The
trend in developed economies where people live longer and retire earlier is now
emerging in India too. With the breakdown of traditional forms of social security like
the joint family system, consumers are now concerned with the need to provide for a
comfortable retirement. This trend has been further driven by the long-term decline in
interest rates, which makes it all the more necessary to start saving early to ensure
long term wealth creation. Today's consumers are increasingly interested in products
to help build wealth and provide for retirement income.
This all adds up to a major change in the demand for insurance products. While
sales of traditional life insurance products like individual, whole life and term will
remain popular, sales of new products like single premium, investment linked,
retirement products, variable life and annuity products are also set to rise. Firms will
need to constantly innovate in terms of product development to meet ever-changing
consumer needs. However, product innovations are quickly and easily cloned.
Pricing will also not vary significantly, with most product premiums hovering around a
narrow band.
In this competitive scenario, a key difference will be the customer experience that
each life insurance player can offer in terms of quality of advice on product choice,
along with policy servicing, and settlement of claims. Service should focus on
enhancing the customer experience and maximizing customer convenience. Longterm growth in the business will depend greatly on the distribution network, where
the emphasis must evolve from merely selling insurance to acting as financial
advisors, helping customers plan their finances depending on life stage and personal
requirements. This calls for a strong focus on training of the distribution force to act
as financial consultants and build a lasting relationship with the customer. This would
help create a sustainable competitive advantage that cannot be easily matched.
SWOT Analysis
Strength
1. Leverages SBI LIFE INSURANCEs largest customer base for cross selling its
product
2. Multi layer Distribution channel
3. SBI LIFE INSURANCE life has over 7,000 on-roll employees and 75,000 agents
4. Strong Presence across India
5. SBI LIFE INSURANCE Life Insurance has an authorized capital of Rs2,000
crore (US$405.6 million)and a paid up capital of Rs1,000 crore (US$202.8 million
6. State Bank Group has the unrivalled strength of over 18,000 branches across
the country
1. Managing a huge number of people is a concern

Weakness
2. Cases of fraud have tarnished image
1. Growing rural market potential

2. Group Insurance through large employers
Opportunity
3. People willing to invest more to secure their future
1. Economic crisis
Threats
2. Entry of new NBFCs in the sector
Competition
1. LIC
2. Sahara Life Insurance
Competitors
3. Reliance Life Insurance
Scope of the analysis

- Provides all the crucial information on State Bank of India required for business and
competitor intelligence needs.
- Contains a study of the major internal and external factors affecting State Bank of
India in the form of a SWOT analysis as well as a breakdown and examination of
leading product revenue streams of State Bank of India.
-Data is supplemented with details on State Bank of India history, key executives,
business description, locations and subsidiaries as well as a list of products and
services and the latest available statement from State Bank of India.
RESEARCH
METHODOLOGY
Research Methodology:
Research methodology is considered as the nerve of the project. Without a proper
well-organized research plan, it is impossible to complete the project and reach to
any conclusion. The project was based on the survey plan. The main objective of
survey was to collect appropriate data, which work as a base for drawing conclusion
and getting result.
Therefore, research methodology is the way to systematically solve the research
problem. Research methodology not only talks of the methods but also logic behind
the methods used in the context of a research study and it explains why a particular
method has been used in the preference of the other methods.
Research design:
Research design is important primarily because of the increased complexity in the
market as well as marketing approaches available to the researchers. In fact, it is the
key to the evolution of successful marketing strategies and programmers. It is an
important tool to study buyers behavior, consumption pattern, brand loyalty, and
focus market changes. A research design specifies the methods and procedures for
conducting a particular study. According to Kerlinger, Research Design is a plan,
conceptual structure, and strategy of investigation conceived as to obtain answers to
research questions and to control variance
Title of the Study

Consumer satisfaction and market research
Duration Of The Project

45 days including 8 working hours per day and Sunday was holiday.
What Is research?
Research is nothing but movement from the known to the unknown a voyage of
discovery.
Some definitions:
Research means a systematic investigation, including research development, testing and
evaluation, designed to develop or contribute to generalization knowledge. Activates which
meet this definition ,constitute research for purposes of this policy , whether or not they are
conducted or supported under a program which is consider research for other purposes i.e.
some demonstration and services programs may include research activities .
REASEARCH METHODOLOGY
research: NOUN: 1. a detailed study of a subject, especially in order to discover (new)
information or reach a (new) understanding.
The word "research" is used to describe a number of similar and often overlapping activities
involving a search for information. For example, each of the following activities involves such
a search; but the differences are significant and worth examining.
research methodology is a way to systematically solve problems .it may be understood as a

science of studying how research is done scientifically .
Thus when we talk about research methodology we not only talk of the research methods
but also consider the logic behind the method we use in the context of our research study
and explain why we are using the particular technique and why we are not using others so
they research results are capable for being evaluated either by the researcher himself or by
others.
Research is a process of identifying the status of a phenomenon through deploying various

methods in a systematic manner.
Research is a systematic process of identifying the problems, defining the problems,

identifying the variables/ indicators to address these problems, collecting, compiling,
processing and analyzing data to assess the inherent characteristics of the phenomenon
under study and to identify the objective basis for arriving at a correct/reliable decision.
Methodology is a combination of methods

Methods are individually applicable.
By variable we mean the characteristics which can be measured and numerically expressed
and the magnitude of which varies from individuals to individuals, item to item.Profit, sales,
age
continuous;
family
member
discontinuous
(discrete)
The characteristic which cannot be expressed numerically but indicates a difference in the
quality
For
of
the
example,
phenomenon
Efficiency
is
known
(Efficient/inefficient),
as
an
Skill
attribute.
(skilled/unskilled).
Indicator The parameter, information/data on which cannot be collected directly but can be
estimated based on the data or information collected on other variables and attributes.
Operational definition means assigning measurable criteria to the variables/ indicators used
in the research study. For example- A person is considered as literate if s/he can write a
letter in any language is known as the operational definition of literacy.
To gather the essential data for conducting the research here in I have used both primary
and secondary sources of data collection.
Objectives
1.
2.
To
of
gain
To measure
familiarity
the
with
frequency
the
of
Research:
presents
occurrences
of
status
of
the
business.
various
parameters/indicators.
3. To reveal the trend and tendencies in the business, i.e., to assess the growth or expansion
potential
of
the
business.
4. To identify the influencing factor or determinants of business parameters.

5. To test the significance and validity and reliability of the results
There are basically 6 types of researches:

1. Theoretical
2. Applied
3. Analytical
4. Descriptive
5. Empirical
6. Conceptual
Primary source :
To collect first hand information , I have made use of questionnaire and personal interview
techniques of data collection .Questionnaire
mentioning the various work and behavior
related aspect of insurance consultant is prepared and after interviewing advisors, their
managers and co-workers information is gathered.
Primary data is the data which is collected by the researcher directly from his own
observations and experiences. For example, if the researcher conducts a survey for the
collected of data then it is known as primary data. There are various sources of secondary
data like research papers, periodicals, encyclopedias, published researches, database
companies etc. The four major sources of secondary data collections include International
Data source, which provides data related to economics and politics. Secondly, ICPSR, which
is an active social science research organization. Third source is Integrated Public use of
microdata series which provides data about different countries and Bureau of labor statistics,
which gives data related with employment, industrialrelations, prices etc
The primary sources are those which are collected afresh and for the first time, and thus
happen to be original in character.
Secondary source:
Information collected from internet, companys magazines, journals & reports also provided a
good amount of valuable and useful information.
DATA COLLECTION METHODS

The data collection methods which are used for this project are explained below.
1) Collection of data through questionnaire:

This method of data collection is quite popular, particularly in case of big enquiries. In this
method a questionnaire is filled by the concerned person himself. A questionnaire consist of
a number of questions printed or typed in a defined order on a form or set of forms.
In the project the main source of collecting data was through questionnaire. For this purpose
questionnaire was designed and filled by individuals.
2) Interview:
The interview method of collecting data involves presentation of oral-verbal stimuli and reply
in terms of oral-verbal response. There are two methods of interview-personal interview and
telephonic interview.
Interview with the help of questionnaire was carried on with individuals. Few telephonic
interviews were also performed in which the response was average due to time constraints.
So, the characteristics of my questionnaire are:
Questionnaire is short & simple.

Questionnaire is dichotomous & full of multiple choices.
Technical terms & vague expression have been avoided to the extent possible.
Physical appearance of the questionnaire is attractive looking.
Questionnaires were prepared keeping three things in mind:-
a. Quality of Work Life

b. Organization culture.
c. Employee satisfaction.
SAMPLING PLAN
In order to know the information from a mass it is not possible to contact individually and
collect information. This is due to following reason:
Time required is enormous

Expensive
Possible to analyze with a sampling plan
A sampling plan is adopted under which numbers of samples are decided along with the
area from which samples are to be chosen. These samples will represent the complete lot
from where the samples are chosen.
Under this project a random sampling plan is found suitable for analyzing Quality of Work
life.
Performance appraisal Technique360 degree technique of appraising performance
is used so as to avoid possibility of any
inaccuracy in the research findings.
Sample Size 35 Insurance consultant
Meaning- In the word of Edwin B. Flippo Performance appraisal is a systematic, periodic

and so far as humanly possible ,an impartial rating of the employees excellence in matters
pertaining to his present job and to his to his potentialities for a better job.
LIMITATIONS
Following points can prove to be a hindrance in the completion of the project:
During the first hand data collection the consultants may not reveal the
complete & true picture of the facts and figures of their performance.
The busy and hectic schedule of the managers , because of which it may
become
difficult
to
have
the
proper
information
regarding the
advisors
performance.
The published data of the company like reports & statements are not be
easily made available to project trainees.
The time duration for the project was limited to 8 weeks, so detailed study was not
possible.
Scope of the project:
This study was limited to the recruitments and selection of financial planning advisors
of reliance life insurance only.
This study was limited to pune city only
Data Analysis and Interpretation is nothing but processing both the primary
and
secondary data collected and completing the documentation with tables and charts, and
interpreting the same for further processing.
In view of this project, I had to find out the success factor of the sources of recruitment by
studying how many candidates from each source turned up from each source. Besides this,
the main task was to analyze all the data regarding the number of people who are coming in
for an interview, the number of candidates actually facing the interview, those who pass the
interview, those who gave the aptitude test, their score, the candidates who have passed the
aptitude test, those who are to undergo training, those already undergoing training, those
who have finished training, those who are to appear for the IRDA exam, those who gave the
exam, those who passed the exam, those who got the license are depicted through tables
and charts. This number varies on a daily basis. Also the number of candidates that get
selected also vary, depending on their personal skills.
ANALYSIS ON THE BASIS OF QUESTIONNAIRE
Analysis -1 Demo graph of the respondents

AGE
18-24
No of respondent 04
25-34
35-44
45-54
55-above
10
12
06
03
Analysis: Data shows that the respondent of 35-44 years are more interested in insurance
sector because after some years of earning , they realized that their earning is not enough
and they want to more earn.
Sex: Total number of respondent: - 35

Male
26
Female
09
Analysis:
There
more
of
are
number
male
respondent in
comparison to
female
respondent because Female are not directly interact with new people.
2. What is your qualification? Please tick
SSC
02
HSC
04
Graduat
Post
Graduate
18
08
Professional courses
03
Analysis: Insurance is a complicated product so this is very necessary to know about the
education level of respondent because for understand about insurance the respondent is
qualified.
3.Which is your current occupation?
Studen
Servic
01
07
Self Employed
House wife
Businessman
Retired
13
03
08
03
Analysis: There is more number of self employed respondent how are interested in
insurance sector.
4. Your household income per month.
Rs 5,000-10,000
Rs 10,000-20,000
Rs 20,000-50,000
Above Rs 50,000
06
18
10
01
Analysis: It is important to know about the income of respondent because the higher income
people are most probably not interested in insurance selling due to their ego.
Yes
No
12
Yes
23
No
33
02
5.Are you interested in earning money from sources other than your
present occupation?
Analysis: Most of the

respondents
interested
more
are
to
because
human nature.
6. Do you have any experience related to sales?
earn
of
Analysis: The most of the respondents are having the experience of sales because most of
the respondents are self employed and businessman.
7. Do you have any experience in selling financial products? If yes

then what nature.
Yes
No
05
30
Analysis: After having the experience of sales but most of the respondents are not having
any experience of financial products because of lack of knowledge of insurance sector.
8. Do you currently have an agency for Life Insurance Company?
Yes
No
03
32
Analysis: 32 from 35 respondents are not having any agency of insurance company because
this sector is a new growing sector and most of the people not aware about insurance.
9. What is the size of your social contacts?

Relatives
Friends
Clients
52%
35%
13%
Analysis: Insurance sector is more concern about contacts and it is more important that an
insurance agent has enough social contact for selling of insurance policies. So most of the
respondents have social contact with their relatives, friends and clients.
10.Are you interested in knowing more about becoming a financial

advisor?
Yes
No
12
23
Analysis: Only 12 out of 35 respondents are interested to become financial advisor because
most of respondents thought that it is a tough job to convince to the people.
Some thought that they have not enough time to do extra work.
Observation& findings
Following are the observation that I encountered during the tenure of my project:
The observation that I encountered were:
1. The overall best source of recruitment is the job sites and job portals on the internet.
2. Most of the respondents age is 25-35 years old and they are earning but not
satisfied by their income and most of the respondents are male.
3. Most of the FPAs came to know about the vacancies through the job sites.
4. The tools used in selection process such as screening interview, aptitude test, final
interview were not very effective.
5. There is no biasness in selection of the FPAs.
Other observations and findings:
1. The calls that are made to the prospective candidates to convince them to come for a
interview are basically Cold Calls because the candidates are unknown and
convincing them to such an extent that
2. While validating the candidates before an interview the skills that are looked out for
are:
Educational qualifications
Communication skills
Fluency while speaking
Personality
Commitment
Convincing power
In a bio data they look for work experience, educational qualifications, location of residence,
age, style of resume, work experience.
The working environment in the company is friendly as well as professional. This tends to
bring out the best from all the employees.
Every branch of reliance life insurance does not have an HR manager. There are HR
managers only at zonal levels. At branch levels. There is only an HR cum administration
executive who reports to the HR manager at the zonal level.
Strengths:
Variety of Products:- Provide high range of choice to customer according to their Age,
Income & Needs.
Brand Name:- Brand name of Reliance Helps to sale the products, because
customer dont hesitate to invest due to faith in Reliance Group.
Rate of Return:- Company provide high rate of returns.
Service:- Service provide by the employee of the Reliance Life Insurance to their
customer is highly satisfactory.
Prone to Change:- Any changes occurred in external environment are easily coped
by the organization & its employees.
Weakness:
Prone to Market Risk:- Insurance industries depend on overall macro economic

condition and market scenario.
Tough Competitions:- There is a very tough competition because of large number

of Asset Management Companies.
Rural Areas:- There is no branch of Reliance Life Insurance in rural area which have
high potentiality to provide high revenue to organization.
High Premium: - The minimum rate of premium of insurance policies is quite higher
which may not be affordable by few section of society.
Opportunities:
Based on Share Market:- As index of share market increase now a days many
people tempted to invest in market, so Insurance may be better Investment tool for
investors.
In India 15% of market is covered due to unawareness of people about insurance &
85% market area is still uncovered, which provide great opportunity to insurance
industries.
\Threats:
Tough Competition:- As there are so many insurance companies having almost same
kind of products & policies, so its tough to compete with.
Unawareness:- Major % of population is not aware of insurance and even Reliance

Life Insurance, so its hard to convince people.
Changing Scenario:-Our market scenario is changing day-by-day i.e. our market is

fluctuating, so this makes investor hard to invest.
Government Policies:- Government rules & regulations on issues like:- Health,

Interest Rate & Terrorism can quickly change the direct of insurance industry like:
reliance Life Insurance.
Conclusion
The conclusion of the survey is as follows:
Most of the respondents ages are 25-35 years old and they are earning but not
satisfied by their income & most of the respondents are male.
The respondents are not very much aware of insurance sector and new insurance
companies.
The respondents want to earn more but not as insurance consultant because they
think insurance selling is very tough and time taking job.
The most of the respondents are from serviceman, businessman and self employed.
The students and retired respondents are not very much interested in insurance
selling.
The respondents are having experience of selling but they are not interested in
insurance selling.
Suggestions
The company should always look for more number of insurance consultants, so the
insurance company should concentrate only on productive insurance consultant not
on number of insurance consultants.
The company should try to inform and create awareness about the insurance sector
and its benefits.
The company should try to use road shows, seminar and other technique for
promotion of insurance awareness
The company should try to give more facilities to its insurance consultants.
The company should provide training and workshop to motivate its insurance
consultant.
QUESTIONNAIRE
1. PERSONAL DETAILS
FULL NAME___________________________________SEX____________
AGE:-18-24 ______25-35______35-45______45-55_______55 and above
Office Address:-________________________________________________
______________________________________________________________
Residence Address:-_____________________________________________
______________________________________________________________
Marital status :-__________________________________
2.What is your qualification? Please tick

a) SSC
b) HSC
c) Graduate
d) Post graduate
e) Professional
courses
(if
mention)____________________________
3.Which is your current occupation?
f)
Student ( )
g) Service/Salaried
( )
h) Self employed
( )
i)
House wife
( )
j)
Businessman
( )
k) Retired (VRS)
( )
yes
4.Your household income per month.

l)
5000 10000
( )
m) 10000 20000
( )
n) 20000 50000
( )
o) Above 50000
( )
5.Are you interested in earning money from sources other than your present occupation?
p) (a) Yes________
(b) No________
6.Do you have any experience related to sales?

q) (a)Yes________
(b)
No________
7.Do you have any experience in selling financial products?

If yes then what nature _______________________________
8.Do you currently have an agency for Life Insurance company?

r) (a) Yes_________
(b)
No________
If yes which company______________________________

9.What is the size of your social contacts?
s) Relatives _______
t)
Friends ________
u) Clients ________
10.Are you interested in knowing more about becoming a financial advisor?
v) (a) Yes_______
(b)
No_________
If yes we will get in touch with you.

Thank you for sparing your few moments of your valuable time with us.
Thank You.
Signature
BIBLIBOGRAPHY
1. PERSONNAL MANAGEMENT TEXT AND CASES BY C.B.MAMORIA

2. RESEARCH METHODOLOGY BY C.R.KOTHARI.
Magazines & Newspapers

The times of India
The Hindustan Times
WEBSITES
www.reliance.co.in
www.google.com
www.ibef.org
www.indianinsurancecouncil.com
www.irda.org

SBI Project

Transféré par

Informations du document

Copyright

Formats disponibles

Partager ce document

Partager ou intégrer le document

Options de partage

Avez-vous trouvé ce document utile ?

Ce contenu est-il inapproprié ?

Droits d'auteur :

Formats disponibles

SBI Project

Transféré par

Droits d'auteur :

Formats disponibles

A

Project Study report

SBI LIFE INSURANCE LIFE INSURANCE

Ms. Abhilasha Poonia

Mrs. Ankita dhaadhich

SHEKHAWATI COLLEGE, SIKAR 33200

for their valuable guidance,

cooperation and advice from time to time. I am highly thankful to members of

1. Introduction to SBI LIFE INSURANCE

Major outcome of Life Insurance Policies:

What is Life Insurance?

Need for Insurance

responsibility of all stakeholders. Life Insurance being a long-term savings

SBI LIFE INSURANCE Introduction

Why SBI LIFE INSURANCE Life Insurance?

Guaranteed Additions (Conditions Apply) up to 125% of one annual regular

Maximum (in Rs.)

Maturity Benefit: (Applicable only for in-force policies): On completion of

SBI LIFE INSURANCE Life - Smart Wealth Assure

10 to 30 Years (both inclusive)

Premium Payment Term

Single Premium (SP)

Single Premium Amount (X

No medical examination, Simple joining process

Max. Age at Maturity

10 years / 15 years / 20 years

Premium Range (x100)

Maximum (in Rs.)

Yearly / Half-yearly / Quarterly / Monthly

Age below 45 Age 45 years

SBI LIFE INSURANCE Life - Smart Scholar

Child: Min: 0 years

Max. Age at Maturity

Single Premium (SP)

SBI LIFE INSURANCE Life - Smart Elite

Accidental Death and Accidental Total and Permanent Disability (Accidental

5 to 20 years (both inclusive)

Premium Payment Term

For Limited Premium Payment Term (LPPT) - 5 or 8 or

Minimum Limited Premium

Minimum Single Premium

SBI LIFE INSURANCE Life - Smart Power Insurance

Liquidity through Partial Withdrawal(s)

10 years, 15 to 30 years (both inclusive)

Premium Payment Term

Same as policy term

Premium Amount (X 100)

SBI LIFE INSURANCE Life - Saral Pension

Guaranteed Bonus: Guaranteed simple reversionary Bonuses for first 5 years;

For Single premium: 65

Age^ at Vesting Min: 40 years

rules. To utilize the entire proceeds to purchase a Single premium deferred

SBI LIFE INSURANCE Life - Retire Smart

Option to pay premiums regularly or for a limited period.

SBI LIFE INSURANCE Life - Annuity Plus

Minimum age at entry : 40 years

Minimum : Monthly: Rs.200, Quarterly: Rs.600,

Annuity payout mode

Monthly, Quarterly, Half-yearly or Yearly

Minimum: Such that the minimum annuity installment can

Wide Variety Annuity Options available

SBI LIFE INSURANCE Life - Smart Shield

i) Level Term Assurance

Min: Rs 25,00,000 (in