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SUMMER TRAINING PROJECT REPORT

ON

“RECURITMENT AND DEVELOPMENT OF

FINANCIAL ADVISORS”.

MetLife INSURANCE COMPANY

Report submitted in partial fulfillment of the


requirements of the award of the degree of Masters in
Business Administration.

UNDER THE GUIDEANCE OF

Company’s Guide Faculty Guide


Naveen Rai (Asst. Sales MANAGER) Sandhaya Khare
HAZRATGANJ-BRANCH, LUCKNOW Lecturer

SUBMITTED BY: - HARSH BARDHAN


M.B.A 3rd SEM

(ISO 2000)
Acknowledgement:-

I take this opportunity to offer my indebtedness to all those sincere

cooperation and valuable guidance was there during my work in assigned

area and preparation of this project.

MY sincere gratitude is also to Mrs. Sandhaya Khare (LECTURER) of Sagar

Institute of Technology and Management, Barabanki for the guidance in

summer training report.

I am greatly indebted to Mr. Anshu Mishra (Agency Manager of MetLife

Insurance Company Lucknow) for allowing me to undergo the training in

the organization.

MY sincere gratitude is also to Prof.J.K.JAUHARI; Director; Mr. K.K.

MISHRA (HOD) of MBA of Sagar Institute of Technology and

Management Barabanki for permitted me to go for training.

I am very grateful to my instructor during my project Mr. Naveen Rai (Sales

Manager) for his support, guidance and resources without which this task

was not easy to accomplish.

Last but not the least I express my sincere thanks to my parents for their

constant support and suggestions to accomplish my goals. I thank God for his

love and grace that enabled me to complete the project.

Harsh Bardhan
PREFACE

This project is a part of the academic curriculum required for the

fulfillment Of the two years full time programmed, pursuing MBA

from” SITM BARABANKI”.

The project called Summer Training Project was undertaken at

MetLife insurance Company Lucknow. This project aimed at

Recruiting of Financial Advisors and Selling of the Policy to take

place and what benefits are provided for future by the company.

MetLife not only provides life Security but also acts as a risk

cover. It provides more bonus than any other Life Insurance

Company. Now a day it occupies first position in Insurance

Sector. This MetLife Insurance Ltd provides a large number of

benefits and maximum possible returns to their clients.

Harsh Bardhan
DECLARATION

I do hereby declare that this project report entitled

“Recruitment of financial advisors in MetLife insurance

Company Lucknow ” is prepared by me on the basis of the

information collected by me during the project period - 45 days

, for partial fulfillment of the award of the “Master Of Business

Administration” (HR & Marketing) in “Sagar Institute of

Technology & Management”, BARABANKI.

Harsh Bardhan
TABLE OF CONTENT

INTRODUCTION

EXECUTIVE SUMMARY

OBJECTIVE OF THE STUDY

INDUSTRIAL PROFILE

COMPANY PROFILE

PROJECT PROFILE

RESEARCH METHADOLOGY

SCOPE & LIMITATION

DATA ANALYSIS & INTERPRETATION

FINDINGS AND SUGGESTION

CONCLUSION

BIBLIOGRAPHY

APPENDIX
INTRODUCTION TO LIFE INSURANCE

Life Insurance is most commonly used to financially protect your

family from the premature death of you and/or your spouse.

Unfortunately, it's probably the least Favorite thing to plan for. And,

as a result, adequate planning is often put off until it's too late.

Although it may sound simple, there are many things to consider.

There are many ways to protect your family with life insurance.

So, consulting with a Life Insurance Professional can be vital! Not

Only For Family Protection? Life Insurance planning is not only for

those who support a family. There are several reasons for

thorough life insurance planning. For example, have you recently

purchased? A new home? Have you recently been married? Have

you made Career changes? Other key purposes of life insurance

include retirement and estate planning. Life Insurance Proceeds &

Taxes, Many people don't realize that even Though life Insurance

proceeds are paid income tax-free to the Beneficiary, there's a

good chance the proceeds will be included in the value of your

estate which may be taxed. I Have Life Insurance through work.


People often make the mistake of assuming their employer-

provided life Insurance is adequate. However, employer-provided

life Insurance is typically only equal to one year's salary...far from

enough for the family provider to protect His /her family adequately

and not enough for the average single person to repay outstanding

debts – Often leaving parents and siblings dealing with such Bills.

The aim of all insurance is to compensate the owner against loss

arising from a Variety of risks, which he anticipates, to his life,

property and business. Insurance is mainly of two types: Life

Insurance and General Insurance.

WHAT IS INSURANCE?

The Business of Insurance is related to the economic value of

assets. Every asset has a value. The asset would have been

created through the effort of the Owners.

The asset is valuable to the owner because he expects to get

benefits from it. Every asset is expected to last for a certain period

of time during which they perform after that the benefit may not be

available. There is a lifetime for a machine is a factory or a cow, or

a motorcar, none of they will last forever. Thus the owner makes
sure, that the value and income is not lost. However, the asset

may get lost earlier.

BRIEF HISTORY OF INSURANCE

The Business of Insurance started from the Marine Business.

Traders who use to

Gather in the Loyalid Coffee House Business in London agreed to

share the Looses to their goods while being carried by ships. The

First Insurance Policy was issued in 1583, in England. In India,

Insurance began in 1870, with English Company. (The European

and the Clbert).

The First Indian Insurance Company is Bombay Mutual Assurance

Society Limited Formed in 1870, followed by the Oriental Life

Assurance Company in 1874. In, 1896, the Second Company is

Bharti. The Third is Empire of India, 1897. Life Insurance

Corporation was formed on 1st September, 1956 and there were

170 Private Sectors. Insurance is known as a “Social Security

Tool”. The U.N. Declaration of Human Rights 1948 provides that

every one has a right of standard of living, adequate of health and

well being of himself and his family including food, clothing,

Housing and Medical Care.


(A) TOPIC

Recruitment and development of Financial Advisor in MetLife

Insurance Company.

(B) INTRODUCTION

Each Insurance company has a different process for recruiting of financial

advisor. In this project I discus about MetLife Insurance Company.

• Process of the organization for recruiting financial advisors

(C) OBJECTIVE OF THE STUDY

 The basic objective of this project is known the process of recruitment

of financial advisors.

(D) RESEARCH METHODOLOGY

Research comprises defining & redefining problems, formulating hypothesis

or suggested solution , collecting , organizing & evaluating data, making

deduction & reaching conclusion & at least carefully testing the conclusion to

determine weather they fit the formulating hypothesis.

1-Universe of the study


The first step in developing any sample design is to clearly define the set

of the objects technically called the universe to the studied. Universe can be

either be finite or infinite. In finite universe the no. of item means the person

who lived in local area of Lucknow (Mainly Indra nagar and Gomti Nagar)

2-Researcher instrument used

Questionnaire

3 -Sample of the study

For the preparation of my report I had taken the sample of the persons of

Lucknow mainly Indra Nagar and Gomti Nagar.

4. Sample size: 50

5. Sampling techniques

Simple random sampling.

6-Data source & Data collection

In my report the data is collected on the basis of primary data collection

method ie questionnaire. The data is also collected on the basis of

secondary data. Data method from Internet & journals & rest information is

collected from the company’s annual books. In my report I have chosen

secondary data for my report is collected from internet.


7-Data analysis test

Analysis of the data requires a no. of closely related operations such as

establishment of categories, the application of these categories to the raw

data through coding, tabulation & then drawing statistical inference. For this I

had classified the raw data into such that it become purposeful & usable form.

8-Tools & techniques: - pie chart

(E) FINDING & SUGGESTION

1. All ups and down of the policy regarding

Insurance can should be deeply explain to the customers, so

that they might be aware of the requirement and benefits, which

the company is going to provide them offer fulfilling the

Companies’ requirement.

2. Company should provide more and more

information of the Plans and Policies to the Customers.

3. To make more and more advertisements

through means of T.V, newspaper, Magazines, and Internet

etc.
4. To make the Customers aware about how

important is to secure the life and happiness, through seminars,

contests, etc.

5. All ups and down of the policy regarding

Insurance can should be deeply explain to the customers, so

that they might be aware of the requirement and benefits, which

the company is going to provide them offer fulfilling the

Companies’ requirement.

6. Company should provide more and more

information of the Plans and Policies to the Customers.

7. To make more and more advertisements

through means of T.V, newspaper, Magazines, and Internet

etc.

8. To make the Customers aware about how

important is to secure the life and happiness, through seminars,

contests, etc.
OBJECTIVE OF THE STUDY:-

The objective of the project is to recruit the Financial Advisors for

the Company. MetLife Insurance is known for its Stimulating

environment with high levels of motivation, empowerment and

Recognition. They encourage an open and informal culture that

values integrity, Commitment, teamwork and excellence in

customer service. They adopt a policy of strong learning and

development initiatives, which Promotes day-to-day learning as

well as decision-making. They believe their Strength is their

people, so they Endeavour to surpass their expectations and Give

them the best possible work environment and benefits that match

the best in the industry. Young professionals opting to make a

career with MetLife Insurance can make use of the Management

Trainee Programmed to grow with them. Professional


Development and Interpersonal Relationships are accorded a high

priority while creating a more congenial and people oriented milieu

across the organization, which shows in their contribution

management system.

MetLife Insurance is one of the leading life insurance

companies having a track record of declaring bonuses every year

since inception. They attribute this success to their people, who

are their most important asset.

They believe, they are a key facet of the company and it is their

contribution that has enabled them to achieve their current status.

Since they deserve the best, their efforts have been to provide

them with the best environment, best culture and best

development opportunities possible.


INDUSTRY PROFILE:

History of insurance:

Insurance began as a way of reducing the risk of traders,

as early as 5000 BC and 4500 BC in. Life insurance dates only to

ancient Rome; "burial clubs" covered the cost of members' funeral

expenses and helped survivors monetarily. Modern life insurance

started in late 17th century, originally as insurance for traders:

merchants, ship owners and underwriters met to discuss deals at

Lloyd's Coffee House, predecessor to the famous.

The first insurance company was formed in 1732, but it provided

only fire insurance. The sale of life insurance in the U.S. began in

the late 1760s. The Synods in and created the Corporation for

Relief of Poor and Distressed Widows and Children of

Presbyterian Ministers in 1759; Episcopalian priests organized a


similar fund in 1769. Between 1787 and 1837 more than two

dozen life insurance companies were started, but fewer than half a

dozen survived. Prior to, many insurance companies in the United

States for their owners, in response to bills passed in 2001 and in

2003, the companies have been required to search their records

for such policies for example reported that Nautilus sold

485slaveholder life insurance policies during a two-year period in

the 1840s; they added that their trustees voted to end the sale of

such policies 15 years before the.

General information:

Human have always sought securities. This quest for

security was an important motivating force in the earliest formation

of families, clans, tribes, and other groups. Indeed, groups have

been the primary source both emotional and physical security

since the beginning of humankind. They ensured a less volatile

source of life necessities then that which ensures isolated human

& families could provide and help their less fortunate members in

the time of crises.

Human today continue their quest to achieve security and

reduce risk uncertainty. We still rely on group for financial stability.

The group may be our employer, the government, or an insurance

company, but concept is the same. In some ways however, we


today are more vulnerable that our ancestors. The physical and

economical securities formerly provided by the tribes or extended

family diminished with industrialization. Our income dependent,

wealth acquiring lifestyle renders and our families more vulnerable

to environment and societal changes over which we have no

control.

Humans are exposed to many serious perils, such as

property loss from fire or windstorm, and personal losses from

incapacity and death. All through individual cannot predict or

completely prevent such occurrences, they can provide for their

financial effects.

Encyclopedia of finance and banking defines insurance as

the elimination of or protection against risk amenable to actual

calculation, voidance or reduction of losses occurring through

misfortunes such as death, fire, accident, tornado, shipwreck, etc.

insurance is a contact between an insurer and insured where by

the insurer identifies the insured against loss due to specific risks

such as from fire, storm and death. Insurance contracts require an

agreement, considerations, capacity, legality, compliance with the

status of frauds and delivery. Insurance is an integral part of most

enterprises, risk management program. Insurance does not

prevent losses, it substitutes a small certain loss (premium) for a


possible or contingent large loss. The insured is indemnified for

the amount of loss, for the insured amount, or for the face of his

policy, in return for payment of periodic premiums.

The principle kinds of insurance are as follows:

• Life-term, ordinary, endowment, limited payment, group

industrial and annuities, with a variety of combinations of the

four basic forms.

• Fire & marine-fire, ocean marine, motor vehicle, inland

navigation, and transportation, tornado and windstorm,

sprinkler leakage, earthquake, riot and civil commotion,

explosion rain, hale, flood, aircraft, etc.

• Causality and surety -automobile liability, liability other than

automobile workers, compensation, fidelity and surety,

burglary and theft, automobile property damage, accident in

health, steam boiler, machinery, plate glass, etc.

All mutual and legal reserves life insurance companies provide for

a participation in dividends by all policy holders. In this way the

cost of insurance to the insured is reduced.


Four classes of insurance business:

• Life insurance

• Fire insurance

• Marine insurance

• Miscellaneous insurance.

Brief history of insurance sector in India:

The insurance sector in India has come full circle from being

open competitive market to nationalization and back to liberalized

market again. Tracing the developments in India, insurance sector

reveals the 360-degree turn witnessed over a period of almost two

centuries.

• 1818 – Oriental insurance company was established.

• 1870– Bombay Mutual Life Assurance Society, the first

Indian life insurance company started its business.

• 1912 – Indian life insurance companies act as the first

statute to regulate the life insurance business

• 1928 – The Indian insurance companies act enacted to

enable the government to collect statistical information about

both life and non life insurance business.


• 1938 – Earlier legislation consol dated and amended to by

the insurance act with the objective of protecting the interest

of insuring public.

• 1956 – 245 Indian and foreign insurers and provident

societies taken over by the central government were

nationalized.

Insurance sector reforms:

In 1993 Malhotra committee, headed by former finance

secretary and RBI governor R N Malhotra was formed to evaluate

the Indian insurance industry and recommended its future direct

on. The Malhotra committee was set up with the objective of

complimenting the reforms initiated in the financial sector.

Recommendation included in the report submitted by the

committee

Structure:

• Government stake in the insurance companies to brought

down to 50%

• Government should takeover the wordings of GIC and its

subsidiaries, so that these subsidiaries can act as

independent companies.
• All the insurance companies should be given greater

freedom to operate.

Competition:

• Private companies with minimum paid up capital of Rs. 1

billion should be allowed to enter the industry; no company

should deal in both life and general insurance through single

entity.

• Foreign companies may be allowed to enter the industry

collaboration with domestic companies.

• Postal life insurance should be allowed to operate in rural

areas

• Only one state level life insurance company should be

allowed to operate in each state.

Regulatory body:

• The insurance act should be changed

• An insurance regulatory body should be set up.

Life insurers transact life insurance business; general insurers

transact the rest. No companies are permitted as per law.

Legislation (as on 1-4-2000):


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

that deals with insurance business in India is;

• Insurance Act, 1938 and Insurance Regulatory &

Development Authority Act, 1999

• Fire and miscellaneous insurance business are predominant

motor and vehicle insurance is compulsory.

• Tariff Advisory Committee (TAC) lays down tariff rates for

some of the general insurance products.

Customer Protection:

Insurance industry has ombudsmen in 12 cities. Each

ombudsman is empowered to redress customer grievances in

respect of insurance contracts on personal lines where the

insurance amount is less than 20 Lakhs, in accordance with the

ombudsmen scheme. Address can be obtained from the officers of

LIC and other insurers.


NEED FOR LIFE INSURANCE

Maslow’s need hierarchy theory:

Making the person feel “SAFE” other expression of the need for safety occur

when individuals are confronted with real emergencies e.g. accidents, war, crime,

natural calamities, etc. once physical needs are met, another set to motives, safety

or security needs, become motivates. The primary motivating force here is to ensure

reasonable degree of continuity, order, structure and predictability in once

environment. Maslow suggested that the safety needs are most readily observed in

infant and young children because of their relative’s helplessness and dependence

on adults.

Security needs in original context co-related to such factors as job security,

salary increment, safe working conditions, unionization and lobbying for prospective

registration.
Risk and uncertainty are part of life great adventures accident, illness, thefts,

natural disaster. They are built into the working of universe, waiting to happen.

Insurance that is main answer to the vagaries of life. If you cannot beat the

manmade and natural calamities, wealth, at least be prepared for them and

aftermath.

Insurance is contract between two parties one is insurer (insurance company)

and insured (the person or entity seeking the coverage). Where the insurer agrees to

pay the insured for the financial loses arising out of any unforeseen events in return

for a regular payment of the premium.

These unforeseen events are determined as risk and that is why insurance is

called is the risk cover. Hence the insurance is the essential means to financially

compensate for loses that life throws at people- corporate and otherwise.

India at glance:

• Economy: India is 5th largest economy in the world in terms of purchase.

• GDP Growth rate: over 6% per year on an average for the last decade.

• Savings rate: around 26% of GDP

• Estimated middle class population: 300 million

• Insured population: 70 million

India has an enormous middle class that can afford to by life, health and disability

and pens on plan products. The level of penetration of life insurance in India

compared to other developed nations can be judged by a comparison of per capita

life premium.
GLOBAL LIFE INSURANCE TRENDS

Country life premium per capita U.S. $ in 1994

JAPAN 3817

UK 1280

USA 964

INDIA 800

Life insurance market in India

INDIAN COMPANY FOREIGN COMPANY

HDFC Standard life

Tata Group AIG


Bajaj Allianz

Max India New York

IDBI Principal

SBI Alliance Capital

Bajaj Allianz Chubb

Cholamandalam Axa

ICICI Prudential

Vysa Bank ING

Spic Met Life

Sanmar Group GIO of Australia

Life insurance statistics:

Table showing premium collection by various insurance companies

COMPANY 2006-07(RS.IN MIN.) 2007-08(RS.IN MIN.) % GROWTH

Kotak Mahindra 352.1 1271.2 260.98

Bajaj Allianz 633.89 1797.05 183.50

ING Vaysa 179.59 726.27 311.16

AMP Sanmar 63.15 278.82 341.51

SBI Life 718.81 1959.01 172.53

Tata AIG 522.08 1801.55 515.07

ICICI Prudential 3641.07 7509.10 106.23

Birla Sun Life 1295.68 4498.62 247.20

Aviva 134.66 771.38 427.84

Max New York 673.14 1314.88 95.34

Met Life 76.99 233.82 203.70

HDFC Standard 1293.14 2093.33 61.88


Private total 9581 24254.64 153.15

LIC 159767.62 162746.87 1.93

TOTAL 169348.92 187101.5 10.48

Table showing market share of life insurance companies

COMPANY 2006-07 (IN %) 2007-08 (IN %)

HDFC Standard 0.76 1.12

Bajaj Allianz 0.37 0.96

ING Vaysa 0.1 0.39

AMP Sanmar 0.04 0.15

SBI Life 0.42 1.05

Tata AIG 0.31 0.96

ICICI Prudential 2.15 4.01

Birla Sun Life 0.77 2.4

Aviva 0.08 0.41

Max New York 0.4 0.7

Met Life 0.05 0.12

LIC 94.34 87.05

TOTAL 100 100

Registration of Indian insurance companies

The registration of Indian insurance companies involves the following contents

• Requisition for the registration

• Application for registration

• Renewal of certificates of registration

• Action in case default

• Certificates to existing insurers.


INTRODUCTION TO THE COMPANY

COMPANY PROFILE OF MET LIFE INSURANCE COMPANY

LTD.

MetLife (India)

MetLife India Insurance Company Limited (MetLife) is an affiliate

of MetLife, Inc. and was incorporated as a joint venture between

MetLife International Holdings, Inc., The Jammu and Kashmir

Bank, M. Pallonji and Co. Private Limited and other private


investors. MetLife is one of the fastest growing life insurance

companies in the country. It serves its customers by offering a

range of innovative products to individuals and group customers at

more than 600 locations through its bank partners and company-

owned offices. MetLife has more than 50,000 Financial Advisors,

who help customers achieve peace of mind across the length and

breadth of the country.

MetLife, Inc., through its affiliates, reaches more than 70 million

customers in the Americas, Asia Pacific and Europe. Affiliated

companies, outside of India, include the number one life insurer in

the United States (based on life insurance inforce), with over 140

years of experience and relationships with more than 90 of the top

one hundred FORTUNE 500® companies. The MetLife companies

offer life insurance, annuities, automobile and home insurance,

retail banking and other financial services to individuals, as well as

group insurance, reinsurance and retirement and savings products

and services to corporations and other institutions


FACT SHEET
Founded 2001
Started Operations FY 2001-02
Headquarters Bangalore, India
World Wide Web Address www.metlife.co.in
Managing Director Rajesh Relan
Employees 7688
Financial Advisors 56,072
Banc assurance Tie-Ups 5 (J&K BankBank/Dhanalakshmi

Bank/Karnataka Bank/Barclays)
Number Of Products Over 20 products

Presence Through 192 offices in 131 cities

MetLife Offices

Presence Through Bank Partners 1910 offices in 686 cities

ABOUT HDFC MET LIFE INSURANCE

Celebrating 140 years, MetLife, Inc. is a leading provider of

insurance and financial services with operations throughout the

United States and the Latin America, Europe, and Asia Pacific

regions. Through its domestic and international subsidiaries and

affiliates, MetLife, Inc. reaches more than 70 million customers


around the world and MetLife is the largest life insurer in the

United States (based on life insurance in-force).

The MetLife companies offer life insurance, annuities, auto and

home insurance, retail banking and other financial services to

individuals, as well as group insurance and retirement & savings

products and services to corporations and other institutions.

 139 years Legacy of helping build Financial Freedom for all

 Fortune 500 Company

 Indian Operation started on April 11th 2001

 MetLife India is a result of Joint Venture between MetLife

International ,J&K Bank and other investors

 Among the Top Five private player in Insurance Sector in

India

 Strong force of 25,000 Financial advisors

 MetLife in India is headquartered in Bangalore

 Present in 72 Cities through 90 Offices.

 In Partnership with many Banks i.e. Barclays, UTI, J&K Bank

etc.
MetLife means more than Life Insurance. It’s about the

celebration of life, beginning and the financial freedom that leads

to life significance J

PRODUCT PORTFOLIO

Multi-Purpose Plans

For ever changing needs in life ULIP

-Met Smart Plus

-Met Smart Premier

Protection Plans

Ensure that your obligations are meant in the event of death

and Disability.
-Met Suraksha

-Met Mortgage

Accumulation Plans Assist in funding child’s education,

Marriages etc :Whole Life :Endowment

-Met 100

Retirement Plans

Provide additional income to supplement savings.

-Met Pension

-Met Advantage Plus

MET LIFE KEYS STRENGHS

FINANCIAL EXPERTISE

AS A JOINT VENTURE OF LEADING FINANCIAL SERVICES GROUPS , METLIFE HAS

THE FINANCIAL EXPERTISE REQUIRED TO MANAGE YOUR LONG -TERM

INVESTMENTS SAFELY AND EFFICIENTLY .


RANGE OF SOLUTIONS

WE HAVE A RANGE OF INDIVIDUAL AND GROUP SOLUTIONS , WHICH CAN BE

EASILY CUSTOMISED TO SPECIFIC NEEDS . OUR GROUP SOLUTIONS HAVE BEEN

DESIGNED TO OFFER YOU COMPLETE FLEXIBILITY COMBINED WITH A LOW

CHARGING STRUCTURE .

TRACK RECORD SO FAR

OUR GROSS PREMIUM INCOME , FOR THE YEAR ENDING MARCH 31, 2008

STOOD AT RS. 4,859 CRORES AND NEW BUSINESS PREMIUM INCOME STOOD AT

RS . 2,685 CRORES .

THE COMPANY HAS COVERED OVER 9,59,000 LIVES YEAR ENDING MARCH

31, 2008.

CORPORATE OBJECTIVE

Our Vision

'The most successful and admired life insurance company, which

means that we are the most trusted company, the easiest to deal

with, offer the best value for money, and set the standards in the
industry'.

'The most obvious choice for all'.

Our Values

Values that we observe while we work:

.Integrity

.Innovation

.Customer centric

.People Care One for all and all for ones€

.Teamwork

.Joy and Simplicity

Accolades and Recognition

.Rated by 'Business world' as 'India's Most Respected Private Life

Insurance Company' in 2004.


.Rated as the "Best New Insurer - 2003" by Outlook Money

magazine, India number 1 personal finance magazine


FIVE KEY FOCUS AREAS

 People

 Product

 Infrastructure

 Branding
 Customer ServiceJ

MARKETING TOOLS

 Tele Marketing - Direct Marketing in which sales person uses

telephone to solicit prospective customers to buy product

and services.

 Database Marketing - Analyze customer database and use

the results to form future projection that help to improve

efficiency and develop new products

 Bancassurance -Selling of insurance through a bank’s

established distribution channels. Penetrating rural market

using Bancassurance Medium only

SWOT ANALYSIS
Strengths Weaknesses

• Quality Distribution channels • Limited Market Penetration

• Strong Underwriting • Low Market Share

• Strong Brand Name • Not a well know name in Interiors

of India
• Quality products and Services

• FDI allowed only upto 26%

Opportunities Threats

• Cross sell financial Services are • Increasing expenses and Low

Untapped Profit Margins

• Untapped Rural Market • Government Regulations and

political situation
• Brand and Line Extension

• Vulnerable to entry of new


• Niche market
Players

• Increasing Interest rate

FACTORS FOR SUCCESS

 Strong Parental Support


 MetLife benefit from parent Company’s Global

presence

 Proven Track Record

 International Standard of Customer Service

 Using Technology as Business Enabler

 Uses a Software Module called AURA which

automatically process an insurance proposal and issue

the policy. It ensures quick turnaround time and

accuracy

 Using Full Time Agents on Commission basis

 Agents are Full Time Working on Commission basis

 Reduce Fixed Cost

 Major Advertisement Campaign

 Internet

 Television and other Audio Mediums

 Telemarketing

 Referrals
 Personalization of Product and Services

 Penetrating untapped Semi urban and rural market

FUTURE PLANS

 Goal of 5 million customers by 2010


 Further Expand operations to Class B and Class C cities and

part of rural India

 Aggressive Growth plans of 100% yoy for next 2-3 years.

 To capture a market share of 5% in Indian Insurance Sector

 MetLife International plans to increase its stake in the Indian

Subsidiary

SOCIAL PRODUCT

Development Insurance Plan


Development Insurance plan is an insurance plan which provides

life cover to members of a Development Agency for a term of one

year. On the death of any member of the group insured during the

year of cover, a lump sum is paid to those member beneficiaries

to help meet some of the immediate financial needs following their

loss.

Eligibility

Members of the development agency and their spouses with:

- Minimum age at the start of the policy 18 years last birthday

- Maximum age at the start of policy 50 years last birthday

Employees of the Development Agency are not eligible to join

the group. The group to be covered is only eligible if it contains

more than 500 members.

Premium Payments

The premium to be paid will be quoted per member in the group

and will be the same for all members of the group.

The premium can only be paid by the Development Agency as a

single lump sum that includes all premiums for the group to be
covered. Cover will not start until the premium and all the

member information in our specified format has been received.

The premium rate is Rs. 25 per Rs. 10,000 of lump sum, per

member.

Benefits

On the death of each member covered by the policy during the

year of cover a lump sum equal to the sum assured will be paid

to their beneficiaries or legal heirs. Where the death is as a result

of an accident, an additional lump sum will be paid equal to half

the sum assured. There are no benefits paid at the end of the

year of cover and there is no surrender value available at any

time.

The role of the Development Agency

Due to the nature of the groups covered, METLife will be passing

certain administrative tasks onto the Development Agency. By

passing on these tasks the premium charged can be lower.

These tasks would include:

Submission of member data in a specified computer format

Collection of premiums from group members


Recording changes in the details of group members

Disbursement of claim payments and the mortality rebate (if

any) to group

Members

These tasks would be in addition to the usual duties of a

policyholder such as:

Payment of premiums

Reporting of claims

Keeping policy holder information up to date

Training and support will be available to give guidance on how to

complete the tasks appropriately.

Since these additional tasks will impose a burden on the

Development Agency, the Development Agency may charge a

Rs. 10 administration fee to their members.

Prohibition of rebates

Section 41 of the Insurance Act, 1938 states

No person shall allow or offer to allow, either directly or

indirectly, as an inducement to any person to take out or

renew or continue an insurance in respect of any kind of risk

relating to lives or property in India, any rebate of the whole or

part of the commission payable or any rebate of the premium


shown on the policy, nor shall any person taking out or

renewing or continuing a policy accept any rebate, except

such rebate as may be allowed in accordance with the

published prospectus or tables of the insurer

If any person fails to comply with sub regulation (previous

point) above, he shall be liable to payment of a fine which may

extend to rupees five hundred


TAX BENEFITS

INCOME TAX GROSS ANNUAL HOW MUCH TAX METLIFE PLANS

SECTION SALARY CAN YOU

SAVE?

Sec. 80C Across All income Upto Rs. 33,990 All the life insurance

Slabs saved on plans.

investment of

Rs. 1,00,000.

Sec. 80 CCC Across all income Upto Rs. 33,990 All the pension plans.

slabs. saved on

Investment of

Rs.1,00,000.

Sec. 80 D* Across all income Upto Rs. 3,399 All the health

slabs saved on insurance riders

Investment of available with the

Rs. 10,000. conventional plans.

TOTAL SAVINGS
Rs37,389
POSSIBLE **

Rs. 33,990 under Sec. 80C and under Sec. 80 CCC , Rs.3,399

under Sec. 80 D, calculated for a male with gross annual

income

exceeding Rs. 10,00,000.


Sec. 10 (10)D Under Sec. 10(10D), the benefits you receive are completely

tax-free, subject to the conditions laid down therein.

MET LIFE PLANS DETAILS

CHILD PLAN
MET BHAVISHYA

PLAN OVERVIEW

MetLife offers 'Met Bhavishya' - a guaranteed money back

plan that pays out funds to help you meet the education and

career milestones of your children. With this plan, the Life Insured

is that of the parent. The plan also has inbuilt guaranteed additions

to add value to the policy over its term. There are two options to

choose from and fixed term benefits, periodic additions & terminal

additions are payable based on the option that you select. The

policy is suitable for parents with children between the ages 0-12

and parents in the age group of 20-50 years old.

PLAN AT GLANCE

Coverage Term Option A Option B Minimum Entry Age of

the Child 0 years 0 years Maximum Entry Age of the Child 8 years

12 years Minimum Entry Age of the parent 20 years 20 years

Maximum Entry Age of the Parent 50 years 50 years Policy Term

21 years - Age at Entry 25 years - Age at Entry Minimum Sum

Assured Rs 1,00,000 Rs 1,00,000 Maximum Sum Assured No

Limit No Limit Riders


Accidental Death Benefit Rider

Critical Illness Rider

Waiver of Premium Rider

PLAN BENEFITS

Death Benefit

In the event of death of the Person Insured (the parent), the family

will receive a lump sum payment of Sum Assured. The fixed term

payment and maturity benefits will continue irrespective of the

death of the Life Insured and all future premiums on the policy

would be waived.

Maturity Benefit

On maturity of the policy, the plan offers Guaranteed Periodic

Additions and Terminal Additions:

1. Guaranteed Periodic Additions of 5% of the Sum Assured for

every completed year.

2. Terminal additions of 20% of the total Guaranteed Periodic

Additions.

Guaranteed Payouts

Option A: Policy matures at age 21 of the child.


Age of the Percentage of Assumed

Child Payout Milestone


15 years 20% of Sum Class X

Assured
17 years 30% of Sum Class XII

Assured
20 years 50% of Sum College

Assured
21 years Guaranteed Higher Education

Additions

Option B: Policy matures at age 25 of the child.

Age of the Percentage of Payout Assumed

Child Milestone
17 years 20% of Sum Assured Class XII
21 years 30% of Sum Assured College
23 years 50% of Sum Assured Higher

Education
25 years GuaranteedAdditions Wedding

REASON TO BUY

1. Guaranteed payouts at critical milestones of the child’s life.

2. Guarantee of policy continuance in case of the untimely demise


of parent.

3. Guaranteed payouts of 250%* of the chosen Sum Assured.

4. Income Tax benefits.

* When the term of the plan is 25 years.

PLAN OVERVIEW

MetLife offers 'Met Magic', a Unit-Linked (non-medical, regular

premium) life insurance plan (Non Par).

You always want your little angel to have the best, in every sphere

of life. You don't want your child to have to compromise. No matter

what the circumstances. Met Magic, a unique life insurance plan,

helps you secure the future of your loved one!

PLAN AT GLANCE

Boundary Conditions

Age of the Parent at Entry * 18 years to 55 years

Policy Term Options 10, 15, 20, & 25 years

Maturity Age of Life Insured 70 years

Sum Assured 5 times annualized premium

Minimum Annualized Premium Rs 12,000 for annual & semi-

annual mode
Maximum Annualized Premium Rs. 1,00,000 for all modes * Age

at last birthday.

PLAN BENEFITS

Death Benefit

Met Junior-Non-Par

In the event of death of the Person Insured during the term of the

policy, the Beneficiary will be paid the Sum Assured.

In addition, the plan will continue. All future premiums, that would

otherwise have been accumulated had the person insured been

alive, are added into the fund on an annual basis, as and when

each such regular premium falls due.

In case of death of the Beneficiary, the Person Insured can either

choose to continue the policy on the original terms by substituting

another person as a beneficiary. Or they can surrender the policy

and claim the Surrender Benefit.

Maturity Benefit

100% of Fund Value payable on the date of maturity.

REASON TO BUY
1. No allocation charges from the 3rd year onwards.

2. Allocation charges of 1st and 2nd year paid back as Guaranteed

Loyalty Additions from 6th year of policy to maturity.

3. Inbuilt future premium protection benefit.

4. Tax benefits as applicable.

MET ADVANTAGE PLUS

PLAN OVERVIEW

MetLife offers 'Met Advantage Plus' - a Unit-Linked Pension Plan

that allows you to effectively and efficiently accumulate for your

retirement needs. As the name suggests, it comes with many

advantages. You can choose from eight annuity options, two life

cover options and get tax benefits under Section 80 C and 10 (10

A). You can buy the plan without any hassles and invest more as

you approach retirement by using the top-up functionality. All in all,

it’s a plan which works harder for you when you stop working. For

one, it ensures that you lead a comfortable lifestyle post


retirement.

PLAN AT GLANCE

Entry Age (in completed years)

Min – 20 years

Max – 55 years

Minimum Term

10 years

Minimum Vesting Age 45 years

Maximum Vesting Age 65 years

Minimum Premiums

Single Pay: Rs. 1,00,000

Regular Premium: Rs. 10,000

Premium Paying Term Single Pay & Regular Pay Riders

Not Available.

PLAN BENEFITS

Death Benefit

In case of death during the accumulation period, the death benefit


payable is:

Under Option A: A guaranteed amount of 110% of the Fund Value

is payable to the nominee.

Under Option B: 100% of the Fund Value is payable to the

nominee.

Vesting Benefit

On the vesting date, i.e. at the end of the accumulation term,you

can take one-third of your retirement kitty as a tax-free lump sum

and utilize the balance to buy annuities. Or you can use the entire

retirement kitty to buy annuities.

Annuity Options

You can choose from a wide variety of eight immediate annuity

options at the time of retirement to match your pension

requirement.

REASON TO BUY

1. Advantage of six diverse market linked funds to potentially

enhance your savings for retirement.

2. Get upto 1/3 rd of your retirement kitty as a tax-free lump sum

on retirement.

3. Opportunity to get tax benefits under Sec 80C on your


contribution.

4. Choice from amongst eight annuity options at the time of

retirement.

5. Get the benefit of protection while you are saving for retirement.

MET PENSION - PAR

PLAN OVERVIEW

'Met Pension (Par)' serves as a friendly helping hand so you can

stay financially independent even after retirement. It helps you

build up a fund for your golden years.

With this plan, you can ensure you enjoy retirement as a happy

new chapter.

PLAN AT GLANCE

Entry Age (in completed years)


Min – 18 years

Max – 60 years

Minimum Term

10 years

Minimum Vesting Age 45 years Maximum Vesting Age 70 years

Minimum Sum Assured Rs. 50,000 Maximum Sum Assured No

Limit Minimum Annual Premium

Rs. 4000 p.a. for Regular Pay

Premium Payment Term Single Pay, Limited Pay (3 or 5 Pay) &

Regular Pay Riders

Accidental Death Benefit Rider

Critical Illness Rider

Waiver of Premium Rider

Term Rider

PLAN BENEFITS

Death Benefit

In case of death while one is saving for retirement, the death

benefit payable is:

1. Return of premiums.

2. Accrued reversionary bonus, if any.


3. Any insurance on the life of the Insured that may be provided by

riders to this policy.

Vesting Benefit

On the vesting date, you can take one third of your retirement kitty

as a tax-free lump sum and utilize the balance to buy annuities or

you can use the entire retirement kitty to buy annuities. The

retirement fund on the date of vesting is equal to the Sum Assured

plus Guaranteed Additions plus the compounded reversionary

bonuses plus the terminal bonus, if any.

Guaranteed Additions

Guaranteed Additions equal to 10% of the Sum Assured are

payable at the end of the 15th policy year, in the form of a one-

time lump sum addition to the Sum Assured.

Guaranteed Additions are available on policies with terms greater

than 15 years.

Annuity Options

You can choose from a wide variety of 8 immediate annuity

options at the time of retirement to match your pension

requirement.
Policy Loan

No loans are available under this policy.

REASON TO BUY

1. A product which participates in the profits of the company

through bonuses.

2. Customize your policy with additional rider benefits.

3. Different premium paying terms to suit various income cycles.

4. Get up to 1/3 rd of your retirement kitty as a tax-free lump sum

on retirement.

5. Opportunity to get tax benefits under Sec 80C on your

contribution.

6. Choose from amongst 8 annuity options at the time of

retirement.

7. Get the benefit of protection while you are saving for retirement.
MET 100

PLAN OVERVIEW

MetLife presents 'Met 100' - a whole life policy where you pay

premiums for 15, 20 or 25 years.

It helps create a legacy for the children, leaving money for a

dependant spouse and, more importantly, provides insurance

cover at affordable rates.

Met 100 is available in both participating as well as non-

participating versions.

PLAN AT GLANCE

Non-Par Par Minimum Entry Age 15 yrs 0 yrs Maximum Entry Age

70 yrs for ppt of 15 yrs

65 yrs for ppt of 20 yrs

60 yrs for ppt of 25 yrs


70 yrs for ppt of 15 yrs

65 yrs for ppt of 20 yrs

60 yrs for ppt of 25 yrs

70 yrs for life - ppt

Premium Paying Terms 15, 20, 25 yrs 15, 20, 25 yrs Minimum

Sum Assured Rs. 50,000 Rs. 50,000 Maximum Sum Assured No

limit (subject to UW) No limit (subject to UW) Minimum Annual

Premium

Rs. 1,000 for issue age of < 15 yrs

Rs. 2,500 for issue age of > = 15 yrs

Met 100 Gold: Rs. 2,500

Met 100 Platinum: Rs. 7,500

Riders

Accidental Death Benefit Rider

Critical Illness Rider

Waiver of Premium Rider

Term Rider

PLAN BENEFITS

Death Benefit

Met 100 - Par


In the event of death, the Sum Assured plus the Reversionary

Bonus and Terminal Bonuses, if any, are payable.

Met 100 - Non-Par

In the event of death, the Sum Assured is payable.

Maturity Benefit

Met 100 - Par

On maturity of the policy, the Sum Assured plus the Reversionary

Bonus and Terminal Bonuses, if any, are payable.

Met 100 - Non-Par

On maturity of the policy, the Sum Assured is payable.

REASON TO BUY

1. A whole life plan where the duration is for life or till 100 years of

age.

2. Limited premium paying term: Payment ceases but life cover

continues throughout life.

3. Guaranteed benefit equal to the Sum Assured plus bonuses in a

participating policy on death and maturity.

4. Loan facility available.5. Tax benefits as applicable under


Section 80C and 10(10D).

MET SUKH

PLAN OVERVIEW

MetLife offers 'Met Sukh'- a guaranteed money-back policy which

provides guaranteed periodic survival benefits at the end of 5, 10,

15 & 20 years and guaranteed additions of 10% of the Sum

Assured for the entire term. It not only covers your life, but also

guarantees you cash payments at various milestones along with

guaranteed growth of your savings.

PLAN AT GLANCE

Entry Age Min - 15 years

Max - 55 years Coverage Term 20 years Premium Payment Term

Regular Minimum Sum Assured Rs. 75,000 Maximum Sum

Assured No Limit Riders

Accidental Death Benefit Rider

Critical Illness Rider


Waiver of Premium Rider

Term Rider

PLAN BENEFITS

At the end of 5 years 20% of the Sum Assured


At the end of 10 years 20% of the Sum Assured
At the end of 15 years 20% of the Sum Assured
Upon survival to maturity 40% of the Sum Assured

plus Total Guaranteed

Additions

PLAN OVERVIEW

1. Guaranteed Survival Benefit: Payment of 20% of the Sum

Assured every year starting from the 5th year till maturity.

2. Guaranteed Maturity Benefit:

Guaranteed payment of 40% of Sum Assured.

Guaranteed Addition of 10% of Sum Assured every year up to

maturity.

3. Guaranteed Death Benefit: Guaranteed payment of Sum

Assured along with Guaranteed Additions (accrued till that time).

This is paid over and above the survival benefit payments already

made.
4. Comprehensive protection by way of 4 riders.

5. Tax benefits as applicable under Section 80 C, 10(10D).

MET SURAKSHA

PLAN OVERVIEW

MetLife offers 'Met Suraksha - Term Assurance (TA)', a non

participating term assurance plan which provides you life cover at

a nominal cost. To put it simply, it is a life insurance plan that gives

you complete protection to enjoy life to the fullest. You can further

customize your plan with two riders – Accidental Death Benefit and

Critical Illness.

PLAN AT GLANCE

Minimum Entry Age 18 years Maximum Entry Age 60 years

Maximum Maturity Age 65 years Minimum Sum Assured Rs.

50,000 Maximum Sum Assured No Limit Policy Term 5, 10, 15, 20,

25 years and Term to age 60 Premium Paying Terms Single Pay,

Limited Pay (3 years), Regular Pay

Riders

Accidental Death Benefit Rider

Critical Illness Rider

PLAN BENEFITS
Death Benefit

In the event of death of the Person Insured, the Sum Assured is

payable.

Maturity Benefit

Not Applicable.

REASON TO BUY

1. Low cost, low risk insurance plan.

2. Option of different premium paying modes to

suit various income cycles.

3. Tax benefits as applicable.


MET VISHWAS

PLAN OVERVIEW

MetLife offers 'Met Vishwas', - a single premium, micro insurance,

non- participating term assurance plan which provides you life

cover at a nominal cost. On survival, you get 110% or 125% of the

premium.

PLAN AT GLANCE

Minimum Entry Age 18 years

Maximum Entry Age 60 years

Maximum Maturity Age 70 years

Minimum Sum Assured Rs. 5,000

Maximum Sum Assured Rs. 50,000 P

olicy Term 5 or 10 years

Premium Paying Terms Single Pay

PLAN BENEFITS

Death Benefit

In the event of death of the Person Insured the Sum Assured is

payable.
Maturity Benefit

On surviving the Coverage Term, you receive:

1. 110% of the single premium paid for a 5 year coverage term.

2. 125% of the single premium paid for a 10 year coverage term.

Guaranteed Surrender Value

In case of any emergency, should you need to surrender your

policy early, you will get surrender benefits as per table below:

Policy Percentage of Percentage of single

Year Single Premium premium payable as

payable as Surrender Benefit (10

Surrender Benefit year coverage term)

(5 year coverage

term)
1 60% 60%
2 70% 65%
3 80% 70%
4 90% 75%
5 100% 80%
6 85%
7 90%
8 Not applicable 100%
9 110%
10 120%

The policy terminates upon the payment of surrender value.


REASON TO BUY

1. Affordable protection.

2. All your money back and more on surviving the coverage term.

3. Convenience of paying just once.

MET EASY

PLAN OVERVIEW

MetLife offers 'Met Easy'- a simplified unit-linked plan which offers

you an opportunity to systematically build wealth and protection for

you and your family.


With Met Easy, you'll be sure to agree with us when we say,

'financial planning was never so simple

PLAN AT GLANCE

Coverage Term
10 years 15 years 20 years
Minimum 8 3 0 (3 months

Age at to be

Entry completed)
Maximum 55 50 50

Age at

Entry
Minimum 20,000 15,000 12,000

Premium
Maximum 6,00,000 4,00,000 3,00,000

Premium
Sum 5 times the 7.5 times the 10 times the

Assured annualized annualized annualized

regular regular regular

premium premium premium


Premium Yearly, Half- Yearly, Half- Yearly, Half-

payment yearly, yearly, yearly,

modes Quarterly, Quarterly, Quarterly,

Monthly Monthly Monthly


The maximum Sum Assured available in this product

is based on your age, at the time of buying the

policy, and is as follows:

Age at Entry Maximum

Sum

Assured
Up to 40 years 30,00,000
41-50 years 15,00,000
51-55 years 2,00,000
Riders

Not available under this plan.

PLAN BENEFITS

Death Benefit

In the event of death:

In the 1st Policy Year: Higher of 50% of the Sum Assured or the

Fund Value is payable.

After the 1st Policy Year: Higher of 100% of the Sum Assured or

Fund Value. If death of the Person Insured occurs before age 7,

the Fund Value plus the Regular Premium received by us in the

first policy year is payable.


Maturity Benefit

On maturity, you will receive the Fund Value including the Loyalty

Addition or you can opt for the settlement options.

Loyalty Additions

With Met Easy, you get the benefit of potentially enhancing your

wealth creation with loyalty additions that are added to your policy

on maturity. The loyalty additions are as follows:

Coverage Policy Loyalty Additions

Term Anniversary Date


10 years 10th policy 25% of the net

anniversary date average regular

premium
15 years 15th policy 100% of the net

anniversary date average regular

premium
20 years 20th policy 150% of the net

anniversary date average regular

premium

Net Average Regular Premium = (Total amount of all regular

premiums paid till the due date of credit of loyalty additions less

partial withdrawals made in preceding 24 calendar months from


the due date of credit of the loyalty additions)/ number of

completed policy years.

Total and Permanent Disability

In case of a total permanent disability caused due to an accident,

100% of the Sum Assured or the Fund Value, whichever is higher,

is paid immediately and the policy ceases to exist.

REASON TO BUY

1. Long Term wealth creation with the help of loyalty additions

payable at maturity.

2. Ease of Purchase – Sum Assured of up to 30 Lakhs* without the

requirement of any

medical checkup.

3. Life insurance benefit with guaranteed Sum Assured of up to

120 times the monthly premium.#

4. Guaranteed benefit in case of a total and permanent disability

caused due to an accident.

5. Up to 150% of net average regular premium is paid as

Guaranteed Additions.

* For a healthy individual, up to 40 years of age.


#
For a healthy male life, when the regular premium is paid in the

monthly mode for a 20 year coverage term.

MET HEALTH CARE

UIN NO: 117N048V01

PLAN OVERVIEW

Health problems strike unexpectedly. In addition to

causing ill health, it can also scar your financial

health. You need to protect yourself against such a

situation through a health insurance plan. In order to

ensure you are well protected to face any health

condition that could befall you, MetLife presents -

Met Health Care, a simple health insurance policy

with unique and smart advantages for you and your

family#.

# Family means spouse and two children. Every

additional family member shall be underwritten as

per the underwriting conditions laid by the Company

from time to time.


What is Met Health Care?

Met Health Care is a long term health insurance plan

from MetLife. This plan covers you

1. Against Hospitalisation expenses by providing you

a Daily Cash benefit as chosen by you.

2. Against 10 major Critical Illnesses by providing

you a lumpsum benefit.

3. Against Total & Permanent Disability due to

accident by providing you a lumpsum benefit.

Further, all the above benefits can be availed

without the hassle of undergoing any medical

examination. Just fill up the simple application form

and start enjoying the unmatched benefits of Met

Health Care.

PLAN AT GLANCE

Minimum/Maximum 18 years-55 years (At first


age of entry entry, for the Principal insured)

3 months-55 years (For

Secondary Insured lives)


Cover ceasing age 65 years
Maturity/Death No Maturity/Death Benefit

Benefit payable
Benefits Offered (a) Daily Hospitalisation Cash

Benefit

(b) Daily ICU Cash Benefit

(c) Recuperation Benefit

(d) Critical Illness Benefit

(e) Accidental Total &

Permanent Disability

Benefit
Premium paying Yearly. Half-Yearly mode is

frequency avaiable only if each of the

persons insured choose a

daily cash benefit of Rs. 3000

or more.
Modal factor Half-yearly -0.5131. Multiply

the tabular premium by the

modal factor to arrive at the

premium payable

PLAN BENEFITS
Benefit

Option 1 Option Option Option Option

2 3 4 5
Daily Rs. Rs. Rs. Rs. Rs.

Hospitalisation 1000 2000 3000 4000 5000

Cash Benefit per per per per per

day day day day day


Daily ICU Rs. Rs. Rs. Rs. Rs.

Cash Benefit 2000 4000 6000 6000 6000

per per per per per

day day day day day


Recuperation Rs. Rs. Rs. Rs. Rs.

Benefit 3000 6000 9000 10000 10000


Critical Illness Rs. 1 Rs. 2 Rs. 3 Rs. 3 Rs. 3

Benefit Lakh Lakh Lakh Lakh Lakh


Accidental Rs. 1 Rs. 2 Rs. 3 Rs. 3 Rs. 3

Total & Lakh Lakh Lakh Lakh Lakh

Permanent

Disability

Benefit
Death/Maturity Benefit

There is no Death/Maturity Benefit under Met Health

Care.
Tax Benefits
The premium paid (excluding the service tax) under

this plan is eligible for Tax Benefits under Section 80

D of the Income Tax Act, 1961 as per the provisions

and conditions given therein and are subject to any

changes made in the tax laws in future.

REASON TO BUY

Please consult your tax advisor for more details.


1. Coverage for the entire family.

2. No Claim Discounts.

3. Guaranteed Cover* till age 65.

4. Payouts in addition to other Insurance Plans.

5. Multiple Claims.

15 YEARS Rs. 75,000.00

20 YEARS Rs. 1,00,000.00


PROJECT PROFILE

RECRUITMENT AND SELECTION PROCESS

According to Edwin B. Flippo, “Recruitment is the

process of searching the candidates for employment

and stimulating them to apply for jobs in the

organization”. Recruitment is the activity that links the

employers and the job seekers.

Recruitment Policy Of a Company: -


In today’s rapidly changing business environment, a well-
defined recruitment policy is necessary for organizations to
respond to its human resource requirements in time. Therefore,
it is important to have a clear and concise recruitment policy
in place, which can be executed effectively to recruit the best
talent pool for the selection of the right candidate at the right
place quickly. Creating a suitable recruitment policy is the
first step in the efficient hiring process. A clear and concise
recruitment policy helps ensure a sound recruitment process.
It specifies the objectives of recruitment and provides a
framework for implementation of recruitment programmed. It
may involve organizational system to be developed for
implementing recruitment programmers and procedures by
filling up vacancies with best-qualified people.
Components of The Recruitment Policy
• The general recruitment policies and terms of the
organization
• Recruitment services of consultants
• Recruitment of temporary employees
• Unique recruitment situations
• The selection process
• The job descriptions
• The terms and conditions of the employment
A recruitment policy of an organization should be such that:
• It should focus on recruiting the best potential people.
• To ensure that every applicant and employee is treated
equally with dignity and respect.
• Unbiased policy.
• To aid and encourage employees in realizing their full
potential.
• Transparent, task oriented and merit based selection.
• Weight age during selection given to factors that suit
organization needs.
• Optimization of manpower at the time of selection process.
• Defining the competent authority to approve each selection.
• Abides by relevant public policy and legislation on hiring
and employment relationship.
• Integrates employee needs with the organizational needs.

Factors Affecting Recruitment Policy

• Organizational objectives
• Personnel policies of the organization and its competitors.
• Government policies on reservations.
• Preferred sources of recruitment.
• Need of the organization.
• Recruitment costs and financial implications

Purpose & Importance of Recruitment:-

• Attract and encourage more and more candidates to apply

in the organization.

• Create a talent pool of candidates to enable the selection

of best candidates for the organization.

• Determine present and future requirements of the

organization in conjunction with its personnel planning

and job analysis activities.

• Recruitment is the process, which links the employers

with the employees.

• Increase the pool of job candidates at minimum cost.

• Help increase the success rate of selection process by

decreasing number of visibly under qualified or

overqualified job applicants.

• Help reduce the probability that job applicants once

recruited and selected will leave the organization only

after a short period of time.


• Meet the organizations legal and social obligations

regarding the composition of its workforce.

• Begin identifying and preparing potential job applicants

who will be appropriate candidates.

• Increase organization and individual effectiveness of

various recruiting techniques and sources for all types of

job applicants.

So, those people who are involved in the process have a

high level of responsibilities


INTRODUCTION

Research methodology is a way to systematically solve the research problem.

It may be understood as a science of studying how research is done

scientifically. It involves data collection techniques, the method of analysis of

data, their interpretation and final summarization.

RESEARCH OBJECTIVE

 The basic objective is to know the process of recruiting Financial

Advisors in the company.

 Identifying key areas which need improvement

SCOPE OF THE STUDY

The survey looks the process of recruiting financial advisors in the company .

It will help to analyze the key areas which need improvement or special

attention .It will also help in understanding the insurance sector and might be

helpful in controlling attrition. All these measures will help to give suggestions

ad recommendations to the management for the further improvement.

RESEARCH DESIGN:

Explorative Research as well as Descriptive type of Research has been

used.

1. Explorative Research

The explorative research has helped to determine the best research

design, data collection and selection of subjects. The reliance of exploratory

research on secondary research, such as qualitative approaches: informal

discussions with employees, management and more formal approaches


through in-depth interviews, questionnaire has given a significant insight into

the given situation.

2. Descriptive research

On the other hand descriptive research has helped to determine “how,

where, when and what “of the situation. Therefore descriptive research has

been used here to get the maximum amount of the information.

PLANNING THE SURVEY

The survey was conducted through Questionnaire .Each people were asked

to fill the questionnaire made specifically for the purpose .The respondents

were the persons who lived in Lucknow city.

SOURCES OF DATA

 Primary Data: In research primary data is collected from all respective

areas.

 The secondary sources include - information gathered through

surfing the internet;

RESEARCH INSTRUMENT

 Structured Closed Ended and Open Ended Questionnaire.

 Depth interviewing
SAMPLE SIZE

The sample size was 50; from Indra Nagar and Gomti Nagar in Lucknow city.

DATA COLLECTION

The data was collected by meeting the respondents. The purpose of this

study was explained to them in brief and then the questionnaire was

administered to them.

DATA COLLECTION METHODS

There are two types of data collection methods:

1.Primary Data : In my report the primary data are collected from

questionnaire and personal interview of the employee.

2.Secondary Data : In my report the secondary data are collected from

Internet and journels.


SCOPE: The report made on the aforesaid topic covers various dimensions

of Job Satisfaction like its meaning and scope, persons who are interested for

work in insurance sector and some other who choose it as a part time job it’s

provide a best plateform.

LIMITATION :

 Psychological Constraints: Most of the persons who were

interviewed felt disturbed while responding to questions during their

work hours; hence they made it a point to finish off answering the

questionnaire as soon as possible. Had they spent a little more time on

introspecting on each question the result would

have been better

 Constraints regarding confidential Issues : Most of the

interviewed persons where reluctant to give information.

 DATA INTERPRETATION: After the data collection process, it was

essential to interpret them to figure out the result. The data collected

are expressed with the help of Bar graphs and Pie- Charts.
1. What is your qualification?

(a) Below High School 8

(b) High School 13

(c)Intermediate 14

(d) Above the Intermediate 25

Below High
School, 8 Below High School
Above
Intermidiate, 25 High School, 13 High School
Intermidiate
Intermidiate, 14 Above Intermidiate

When I asked them about their qualification to the 50

respondent 8 people said that they have qualification below

high school, 13 people passed high school and 14 people

passed intermediate and the other 25 people have above

intermediate qualification.
2. Are you interested in Insurance sector?

(a) Yes 27

(b) No 23

No, 23
Yes
No
Yes, 27

By this question we know that above the 50% respondent have

interests in insurance sector, so we say that the people are

interested to do a job in this sector.


3. Why do you want to join this sector?

(a) Money 9

(b) Better opportunity in future 15

(c) It is an honorable business 14

(d) Best facility 12

Money & Growth, 12 Money, 9 Money


Best opportunity in future
It's a honourable job
Best opportunity in
It's a honourable job, Money & Growth
future , 15
14

When I asked this question this question to the respondent 9

people say that they want to join this for earning money and 15

want to join it for better opportunities in the future, 14 say that it is

a honorable business so they want to join it and 12 say that by it

we get best facility because it is a medium to get a best job in any

insurance company.

4. Do you have any experience in this sector?


(a) Yes 19

(b) No 31

Yes, 19

Yes
No

No, 31

When I asked this question 31 people say that they have not

any experience in insurance sector, only 19 people have

experience in the insurance sector.

5. How many years you work in this sector?


(a) 1 years 7

(b) 2 years 5

(c) 3 years 3

(d) Above 3 years 4

Above 3 Years,
4 1 Years
1 Years, 7
2 years
3 Years, 3 3 Years
2 years, 5 Above 3 Years

When I asked this question to those people who have

experience in this sector that how many years they work in this

sector 7 people say they work 1 year in this sector, 5 say 2

years, 3 say 3 years and 4 say that they work in this sector

above 3 years. We see that more people work less in this

sector.
6. In which field of insurance you work?

(a) General insurance 8

(b) Life Insurance 11

General
Insurance, 8 General Insurance
Life Insurance, Life Insurance
11

There are 2 types of insurance first General insurance for

motors and non-living things and second is life insurance for

living thing or person. When I asked this question most of

people say that they work in the life insurance. 11 people work

in the life insurance and 8 people say that they work in the

general insurance.

7. Why you want to left that organization?


(a) Conflict in the organization 3

(b) Better opportunities 8

(c) Facilities 5

(d) Some personal problem 3

Conflict in the
Some personal Conflict in the organization
problem, 3 organization, 3
Better opportunities

Facilities, 5 Facilities
Better
opportunities, 8 Some personal problem

When I asked those 19 people that why they want to left that

organization 3 people say due to the conflict in the organization,

8 people say that for better opportunities.


8. Would you like to work in the MetLife Insurance Company?

(a) Yes 40

(b) No 10

No, 10
Yes
No
Yes, 40

When I asked this question to the respondent I got positive

response from the respondent 40 people said yes. Only 10

people say no we do not like work in this organization.

9. Why you choose the MetLife insurance company?


(a) Money 7

(b) Better opportunities 16

(c) Best Facilities 8

(d) It is a growing company 9

It is a
growing Money
company,
9 Money, 7 Better
opportunities
Best Best facilities
Better
facilities, 8
opportuniti
It is a growing
es, 16
company

When I asked this question 16 people want to join it for

better opportunities they say that in this company we get best

opportunities for them self, 7 people want to join it for money, 8

people like its facilities and 9 people join it that it is a growing

company in the market from others.

10. Do you have any life insurance policy?


(a) Yes 32

(b) No 18

No, 18

Yes
No

Yes, 32

Out of 50 people, 32 say that they have a policy himself, 18

people say that they have not any policy.

If a person has not a policy than he can not put his point to

other that they take him seriously, they say when you not have

then how you say it good.

11. Do you want join it as a part time job?


(a) Yes 28

(b) No 12

No, 12
Yes
No
Yes, 28

In this question 28 respondents say yes that they want to join it

as a part time job, other 12 respondent say no that they want to

join it as a profession.

Most of person wants to join it as part time job because they are

already to do some thing other.


FINDING AND SUGGESTION;-

 In the insurance sector the people come for join as a financial advisor

they have not more qualification most of people have qualification

below intermediate.

So it is important that company choose that person for financial advisor

who have better education and he have more knowledge about the

market.

 .Persons are interested in insurance sector for work they like it for its

facilities. People give positive response when I asked him that are they

interested in insurance sector. So if the company gives more facilities

tjen the people join it and they take more interest in it.

 When I asked them that why they want to join it most of people join it

for better opportunities, few people join it for money but some people

join it that it is an honorable business. So if the company gives the

more opportunities to financial advisor as like incentive, award,

promotion etc. many people join it.

 When I asked that they have any experience then less people said that

they have experience in this sector. It means less people already work

in this sector. So if the companies give more attention then they get

more people for work in the company.

 People work in this sector less time, those people who have

experience they worked less time more people work in this sector

below 3 years.
 There are tow types of insurance held in the field first General

Insurance for motor and second is Life Insurance for men, more people

have experience in the life insurance it is a benefit for the company

that more people can join it as a job.

 Those person who are work already in a other organization they want

ot left that organization some people say due to conflict in the

organization, some say that the can not get more opportunities in that

organization, some say for money and some say that they have some

personal problem for leaving the organization. It means if the

organization improves these facilities then the organization attract

more experience people in the organization.

 More people want to join the MetLife insurance company. Its means

the company have more value in the market and it gives more facility

instead of others companies.

 More people want to join this company due to its facilities and

opportunities which are given to the financial advisors. So its

impartment that company try to provides more facilities that more

people join it.

 Many people have a insurance policy it so that they are aware with it

and think that it is so impartment the people.

 Many people join it as a part time job due to some reason so it is

necessary that company provides him facilities according him because

they work when they get the time.


CONCLUSION:

BRAND, the brand of MetLife Insurance appeals to growing middle-income

group. It has the support of an aggressive foreign bank at its back; Its market

position is strong Shareholders return has grown by 7times and more till date.

MetLifeLife Insurance maintains the position of word leading Cash

Management Provider. Its improved product proposition attracts one and all; it

is one of the most profitable MNC in India. It is a multicultural organization

providing good support of efficient Managers.

In my view , company should focus rather more on these issues to win the

market:

 Expansion of Customer base

 Improvement in Quality of the Services

 Increased Customer Satisfaction

 Consistent Business Growth

 Increase in Profitability

 Retaining The Customer

 Choose the best Financial Advisors

 Develop the Financial Advisor’s skills

 Give the opportunities them in the organization


Bibliography:-

1. Principles of Marketing Management- Phillip Kotler

2. www.metlife.com

3. Product Brochures

4. Old Database

5. www.google.co.in (its related website)

6. www.nurcindia.com

7. www.irda.co.in
QUESTONNAORE
:- Personal detail of respondent

Name……………………………………………………………………….

Designation……………………………………………………………..

Department…………………………………………………………….

1. What is your qualification?

(a) High School

(b) Intermediate

(c) Graduation

(d) Bellow the High School

2. Are you interested in Insurance sector?

(a) Yes

(b) No

3. Why you want to join this sector?

(a) Money

(b) Better opportunity in future

(c) It is an honorable business

(d) Best facility


4. Do you have any experience in this sector?

(a) Yes

(b) No

5. How many years you work in this sector?

(a) 2 years

(b) 3 years

(c) 4 years

(d) 5 years

6. In which sector you work?

(a) General insurance

(b) Life Insurance

7. Why you want to leave that organization?

(a) Conflict in the organization

(b) Better opportunities

(c) Facilities

(d) Some personal problem

8. Would you like to work in the MetLife Insurance Company?


(a) Yes

(b) No

9. Why you choose the MetLife insurance company?

(a) Money

(b) Better opportunities

(c) Best Facilities

(d) It is a growing company

10. Do you have any life insurance policy?

A- Yes B- No

11. Do you want join it as a part time job?

(a) Yes

(b) No