INDUSTRY PROFILE

Indian Insurance Industry

The Indian Insurance sector has been going through a transition. With the private sector companies making a foray into the market, the scenario has started to change. Liberalization of the sector has helped in bringing about several positive developments, including the expansion of the market size, introduction of new product, and development of new channel distribution in the market. However, the most important development is that the insurance companies have become more responsible towards customer needs.

The first visible change can be found in the introduction of new products. The most popular among the products are the Unit Linked Policies. Riders have already been introduced and have become very popular. Some of the new policies introduced are:

Policies with reduced of premium for non-smokers Policies launched for the future benefit of children along with the Coverage of the life of their parents. Policies for village artisans Travel insurance scheme for students going abroad for higher studies Weather insurance policies Retirement policies, and A group personal accident policy issued in the name of the school for covering all the students of that school.

INSURANCE REGULATORY & DEVELOPMENT AUTHORITY ACT, 1999 (IRDA) Role of IRDA:
IRDA is a revolutionary piece of legislation. The IRDA was established to regulate, promote, and ensure orderly growth of the life and general insurance industry.

The authority consists of the following members: A chairperson Not more than 5 whole time members Not more than 4 part time members

The members would be appointed by the Central Government. The tenure of the Chairperson and members would be 5 years.

Inaction of IRDA
To exercise all power and function of controller of insurance. Protection of the interests of the policy holders. To issue, renew, modify, withdraw, or suspend certificate of registration. To specify requisite qualifications and training for insurance intermediaries. To promote and regulate professional organization connected with insurance. To conduct inspection/investigation, etc. To prescribe method of Insurance Accounting. To regulate investment of funds and margins of solvency. To adjudicate upon disputes.

To conduct inspection and audit of insurers, intermediaries, and other organizations connected with insurance.

HISTORY OF HDFC SLIC

Housing Development Finance Corporation Limited (HDFC)
Founded in 1977, HDFC today is the market leader in human finance in India and has extended financial assistance for more than 19 lakh homes. HDFC has over 120 offices in India, presently. It has one international office in Dubai and Service Associates in Bahrain, Kuwait, Qatar, Saudi Arabia, and Sultanate of Oman. HDFCs asset base amounts to over Rs 21,450 crore. Its financial strength is reflected in highest safety ratings of FAAA and MAAA, awarded by CRISIL and ICRA two of Indias leading credit rating agencies, respectively, for the last 7 years, respectively. It has a depositor base of over 13 lakh depositors and deposit agents force of over 50,000. Of the total deposits, 82% are sourced from individual and trust depositors, which demonstrate the tremendous confidence that retail investors have in the company. HDFC-promoted companies have emerged to meet the investors and customers need: HDFC Bank for commercial banking HDFC Mutual Funds for mutual fund products HDFC Life Insurance Company for life insurance and pension products, and HDFC Chubb for general insurance products

Being an institution that is strongly committed to the highest standards of quality and excellence, HDFC has won several accolades in the past few years. One such award is the Ramakrishna Bajaj National Quality Award for the year 1999. This award was instituted to award recognition to Indian companies for business excellence and quality achievement. HDFC is the only company, so far, to receive this award in the service category.

Standard Life Assurance Company (SLAC)

Founded in 1825, Standard Life has been at the forefront of the UK insurance industry for 177 years by combining sound financial judgement with integrity and reliability. The largest mutual life company in Europe, it has operations in United Kingdom, Ireland, Spain, Germany, Austria, and Canada with representative offices in Hong Kong and China. One of its most recent successes was launch of Standard Life Bank on 1st January, 1998. The introduction of its innovation mortgage product in January 1999 had an immediate impact on the UK market, according for 11% of all new lending within the first operational year. The current deposit base of the bank is US $7.1 billion. Standard Life has total assets of over US $100 billion and new premium last year of US $9.2 billion. Its US investment portfolio accounts for approximately 2% of all shares listed in London Stock Exchange. It is one of the few insurance companies in the world to receive AA rating from two the leading international credit rating agencies Moodys and S & P. Not surprisingly, Standard Life is rated as one of the strongest companies in the world. In financial terms, the quality and values Standard Life brings to this venture are immense. The companys reputation in the UK market remains unrivalled. Besides being voted Company of the Year for overall service, for the third consecutive year, Standard Life has been recently voted Company of the Decade by independent brokers.

HDFC Standard Life

About us Board members Our parentage Our group companies The partnership Incorporation of HDFC Standard Life Insurance Company Our mission Our values Our vision Accolades and Recognition

ABOUT US
HDFC Standard Life Insurance Company Ltd. is one of Indias leading private life insurance companies, which offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), Indias leading housing finance institution and The Standard Life Assurance Company, a leading provider of financial services from the United Kingdom. Both the promoters are well known for their ethical dealings and financial strength and are thus committed to being a long-term player in the life insurance industry all important factors to consider when choosing your insurer.

BOARD MEMBER
Brief profile of the Board of Directors: Mr. Deepak S Parekh is the Chairman of the Company. He is also the Executive Chairman of Housing Development Finance Corporation Limited (HDFC Limited). He joined HDFC Limited in a senior management position in 1978. He was inducted as a whole-time director of HDFC Limited in 1985 and was appointed as its Executive Chairman in 1993. He is the Chief Executive Officer of HDFC Limited. Mr. Parekh is a Fellow of the Institute of Chartered Accountants (England & Wales). Mr. Keki M Mistry joined the Board of Directors of the Company in December, 2000. He is currently the Managing Director of HDFC Limited. He joined HDFC Limited in 1981 and became an Executive Director in 1993. He was appointed as its Managing Director in November, 2000. Mr. Mistry is a Fellow of the Institute of Chartered Accountants of India and a member of the Michigan Association of Certified Public Accountants.

 Mr. Alexander M Crombie joined the Board of Directors of the Company in April, 2002. He has been with the Standard Life Group for 34 years holding various senior management positions. He was appointedas the Group Chief Executive of the Standard Life Group in March 2004 and is also the Chief Executive of Standard Life Investments Limited. Mr. Crombie is a fellow of the Faculty of Actuaries in Scotland. Ms. Marcia D Campbell is currently the Group Operations Director in The Standard Life Assurance Company and is responsible for Group Operations, Asia Pacific Development, Strategy & Planning, Corporate Responsibility and Shared Services Centre. Ms. Campbell joined the Board of Directors in November 2005. Mr. Keith N Skeoch is currently the Chief Executive in Standard Life Investments Limited and is responsible for overseeing Investment Process & Chief Executive Officer Function. Prior to this, Mr. Skeoch was working with M/s. James Capel& Co. holding the positions of UK Economist, Chief Economist, Executive Director, Director of Controls and Strategy HSBS Securities and Managing Director International Equities. He was also responsible for Economic and Investment Strategy research produced on a worldwide basis. Mr. Skeoch joined the Board of Directors in November 2005. Mr. G N Bajpai was the former chairman of Life Insurance Corporation of India and Securities and Exchange Board of India. Mr. Bajpai retired from Life Insurance Corporation of India with more than 3 decades of experience and further served SEBIas its chairman for 3 years, during which time he had strengthened the compliance enforcement in SEBI.

Mr. Gautam R Divan is a practicing Chartered Accountant and is a Fellow of the Institute of Chartered Accountants of India. Mr. Divan was the Former Chairman and Managing Committee Member of Midsnell Group International, an International Association of Independent Accounting Firms and has authored several papers of

professional interest. Mr. Divan has wide experience in auditing accounts of large public limited companies and nationalised banks, financial and taxation planning of individuals and limited companies and also has substantial experience in structuring overseas investments to and from India.

Mr. Ranjan Pant is a global Management Consultant advising CEO/Boards on Strategy and Change Management. Mr. Pant, until 2002 was a Partner & Vice-President at Bain & Company, Inc., Boston, where he led the worldwide Utility Practice. He was also Director, Corporate Business Development at General Electric headquarters in Fairfield, USA. Mr. Pant has an MBA from The Wharton School and BE (Honours) from Birla Institute of Technology and Sciences.

Mr. Ravi Narain is the Managing Director & CEO of National Stock Exchange of India Limited. Mr. Ravi Narain was a member of the core team to set-up the Securities & Exchange Board of India (SEBI) and is also associated with various committees of SEBI and the Reserve Bank of India (RBI).

Mr. Deepak M Satwalekar is the Managing Director and CEO of the Company since November, 2000. Prior to this, he was the Managing Director of HDFC Limited since 1993. Mr. Satwalekar obtained a Bachelors Degree in Technology from the Indian Institute of Technology, Bombay and a Masters Degree in Business Administration from The American University, Washington DC.

OUR PARENTAGE
HDFC LIMITED HDFC is Indias leading housing finance institution and has helped build more than 23,00,000 houses since its incorporation in 1977. In Financial Year 2003-04 its assets under management crossed Rs. 36,000 Cr. As at March 31, 2004, outstanding deposits stood at Rs.7,840crores. The depositor base now stands at around 1 million depositors. Rated AAA by CRISIL and ICRA for the 10th consecutive year Stable and experienced management High service standards Awarded The Economic Times Corporate Citizen of the year Award for its longstanding commitment to community development. Presented the Dream Home award for the best housing finance provider in 2004 at the third Annual Outlook Money Awards. STANDARD LIFE ASSURANCE COMPANY Standard Life has been looking after the financial needs of customers for more than 180 years. It currently has a customer base of over 7 million people who rely on the company for their insurance, pension, investment, banking and health-care needs. It currently manages over 90 billion in assets. Leader in the employee benefit market in both the UK and Canada. Rated by Standard & Poor's as 'strong' with a rating of A+ and as 'good' with a rating of A1 by Moodys. Winner of numerous prestigious industry awards in the UK, including:

- Company of the Year for the seventh successive year (Money Marketing Awards) - Best Pension Provider (2004 and 2005 Money Marketing Awards) - Best Pension Product (2003 -2005 Money facts Investment, Life & Pension Awards)

OUR GROUP COMPANIES

THE PARTNERSHIP
HDFC and Standard Life first came together for a possible joint venture when they entered the Life Insurance market in January in 1995. It was clear that both the companies shared similar values and belief and a strong relation formed quickly. In October 1995, both the companies signed a 3 year joint venture agreement. Around this time, Standard Life purchased a 5% stake in HDFC, further strengthening the relationship. The next three years were filled with uncertainty, due to changes in Government and

Ongoing delays in getting the IRDA (Insurance Regulatory and Development Authority) Act passed in the parliament. Despite these, both the companies remained firmly committed to the venture. In October 1998, the joint venture agreement was renewed and additional resource made available. Around this time Standard Life purchased 2% stake in Infrastructure Development Finance Co. Ltd. (IDFC). Standard Life started to use the services of the HDFC Treasury Department to advice upon their investments in India. Towards the end of 1999, the opening of the market looked very promising. Both the companies agreed that the time was right to move the operation to the level of action. Therefore, in January 2000, an expert team from the UK joined a selected team from HDFC to form the core project team, based in Mumbai.

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INCORPORATION OF HDFC STANDARD LIFE INSURANCE COMPANY

The company was incorporated on 14th August, 2000 under the name of Standard Life Insurance Company Limited. HDFCs ambition from as far back as October 1995, was to be the first private company to reenter the Life Insurance market in India. On 23rd September, 2000, this ambition was realized when HDFC Standard Life was the only company to be Granted a certificate of registration. HDFC group is the main shareholder in HDFC Standard Life, with 81.4% ownership while Standard Life 18.6%. Given Standard Lifes existing investment in HDFC group, this is the maximum investment allowed under current regulations. HDFC and Standard Life have a long and close relationship built upon single value and trust. The ambition of HDFC Standard Life is to mirror and showcase the parent companies and to be the yardstick by which all other insurance companies in India can be measured.

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OUR MISSION
We aim to be the top new life insurance company in the market This does not just mean being the largest or the most productive/competitive in the market; rather it is a combination of several things like: Customer service of the highest order Value for money for customer Professionalism in carrying out business Innovative products to cater to different needs of different customer Use of technology to improve service standards

Increase in market share

OUR VALUES
SECURITY: Providing long-term financial security to our policy holders is our endeavor. We shall do this by offering life insurance and pension products. constant

TRUST: We appreciate the trust placed by our policy holders in using our products. aim to manage their investments very carefully and live under trust. We will

INNOVATION: Recognizing the different needs of our customers by offering them a wide range of innovative products to meet their needs.

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Values that we observe while we work: Integrity Innovation Customer centric People Care One for all and all for one Team work Joy and Simplicity

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.

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PRODUCT INFORMATION
Terms of life are hard, but the terms of insurance are easy!!

INSURANCE: THE CONCEPT

Insurance is the compensation of financial losses on happening of an uncertain event. When insurance is purchased, the risk of financial loss due to happening of that uncertain event is transferred from the policy holder to the insurance company. When the claim arises, company pays a lump sum amount to the policy holder or to her nominee that will be utilized to generate income for them. It is important to note that we do not protect the life of the policy holder but her income earning capacity. We offer plans that cover the risk of income earning capacity on happening of specified uncertain events.

UNCERTAIN EVENTS
Uncertainty is part of our everyday life. However, all the uncertain events cannot be insured. As is obvious from the preceding discussion, we focus only on those

uncertain events when income earning capacity is stopped, which happens due to the following four major events: Death Sickness Accident Retirement

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INSURANCE PRODUCTS
Today there are many insurance products available in the market. Each company has its set of products that it offers to the customers. This makes it difficult to keep track of all the products at the same time. A better way to understand them is by way of classification. All insurance products can be classified according to four basic categories:

PROTECTION

INVESTMENT

PENSION

SAVINGS

This classification is based on the needs of the customers. Accordingly, each of these categories are classified by needs and all the products coming under that category aim to fulfill that need, e.g. products coming under investment category aim to promote long-term real growth over the period. Thus, understanding these categories will not only help us to understand various products but also help us to position our products strongly in a competitive market.

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HDFC Standard life insurance products

Protection plan Term assurance plan Loan cover term assurance plan

1. Investment plan Single premium whole of life plan

2. Pension plan Personal pension plan Unit linked pension Unit linked pension plus

3. Saving plan Endowment assurance plan Unit linked endowment Unit linked endowment plus Money back plan Childrens plan

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INVESTMENT TYPE OF PRODUCTS

In investment type of products, the focus is on maximizing returns for the customer over a period of time. In a way, it is opposite to protection type where the focus on maximizing the risk cover is very low. The objective is to put maximum amount in investment. The underlying principle is to commit money for a certain period of time and get the benefits of real long-term growth. The products are usually single-premium policies where the entire premium is collected in advance. Surrenders are discouraged and there is a commitment for a certain minimum of years. In the event of death, the term value of the investment is returned.

PENSION PRODUCTS
It is another very popular type of product. Along with the risk of an untimely death or disability, we also have the risk of living too long to outlive our source of income. In other words, one needs to ensure that she gets a decent income as long as she lives. This is where we have pension products addressing the need for a comfortable retirement. One can opt for an immediate pension or for a pension at a future date (also called as deferred pension) one can have a range of options when selecting a pension plan. There is a great amount of flexibility when it comes to selecting a pension product. The important point to note is that pension is a part of ones present income that forms the basis for future consumption. Every year income is accumulated and invested in a pension fund. The lump sum accumulated then is used for purchasing on the vesting date.

SAVING TYPE OF PRODUCTS

People like to save. Our saving rate is well above 20% of our GDP for last few years. They save for events like childs marriage, education, etc. Savings products aim to strike a good balance between risk cover as well as returns. It acts as a protection on savings. Sum assured is usually targeted savings that one looks for. She gets that amount at the end of the term along with the bonuses if it is a participating policy. On the protection side, if any unfortunate event happens during the term, the Sum assured (targeted savings) is still paid so it encourages a person to save for an event and at the same time it ensures that her savings

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are protected. This is the unique advantage of savings through life insurance that no other financial product offers. We find very popular products like endowment assurances, money back plans in this category.

PROTECTION TYPE OF PRODUCTS

A typical protection type of product aims at protecting income earning capacity of the customers on happening of uncertain events during the term of the product. These are the pure risk product having no saving element. Naturally, these products do not have any maturity benefits. High risk cover at low cost is the unique of this type of product that makes this category most attractive for those who want high insurance cover without spending much for it. Usually offered for a definite term, all these products come under 4 broad categories. To understand a product, it is essential to find out the category based on its features. Needless to say, it will not be possible to compare one product category to another. Each category is unique and caters to particular needs of the customers.

16 Dec 2003 'Unit-linked Plans are the Future'

You have been operating here for a year now and your companys portfolio is tilted towards unit-linked products. How successful have these products been?

Unit-linked plans are modern products that are consumer friendly and as anywhere in the world, these are gaining popularity and finding wide acceptance in India as well. Unlike traditional insurance products, customers find unit-linked plans more transparent, flexible and easy to understand. A customer who buys a unit-linked policy can far more easily understand the charges he pays towards the savings component, the life cover, and the riders. And he has the option to choose from different fund options for the investment component depending on his appetite for risk. Are Indian consumers educated enough to understand the nuances of such a product? While the concept of such a product is new, its features are easy to understand. So, when the concept is explained just once, customers see the benefits. Also, it helps that mutual funds have been in the country for a while now and so customers are already aware of units. Once a

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customer understands the benefits of unit-linked insurance plans, he is also able to compare these with traditional insurance products and see that the old plans are not very transparent. While there is no specific type of person buying unit-linked products, the consumer at any level is most comfortable if he can follow what is happening with his investments or contributions. In case of life insurance products, this is a long-term process of some 20-25 years. With such a time scale, it is clear that the transparency and flexibility that unit-linked products offer will be absorbed well by the customers.

What do unit-linked products actually offer in terms of

value-addition?

When you are looking at a long-term plan, there are always factors that will change from time to time to meet any challenges. Also, plans change so that the company can offer some amount of customisation. Among other things, we offer to add the cover to the policy, add riders when necessary, and change the investment structure. We also let customers choose from different fund options on the investment without compromising on the basic product. While all these options do come with caps to follow the regulatory framework, they definitely offer value-addition to the customer. And, with the NAV (net asset value) of the fund calculated at the end of the day, the customer knows the value of his funds. I must add that that in case of death, the beneficiary gets the sum assured or the NAV of the fund, whichever is higher. So, there is no reduction in protection in these plans. Although insurance is specific to the individual, most companies offer uniform products for everybody. Do unit-linked plans offer any degree of

customization? We are so used to traditional insurance products that unit-linked plans seem extremely modern in comparison. They are products for the future. Think of these plans as bank accounts. Every year, you make your contribution, and pay the charges for your life cover, riders and the like. The rest goes into an investment fundand you can control the fund by choosing your level of risk. The fund value grows and at the end of the year, on the basis of the NAV, you know

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where you stand. With such wide choice and control, unit-linked plans are the most customizable insurance products available to the customer today. Is the investment risk left to the customer who buys unit-linked plans? For any investor, the idea is to maximize returns. Wise customers know that the era of guaranteed returns is over. The fall in interest rates in the past 18 months is indication enough of what lies ahead. What unit-linked products offer is a long-term investment option where returns are far more real and there is no compromise in the protection that the policy offers.

In the guaranteed returns regime, the guaranteed component was met by paying lower interest rates to those who did not have any guarantee on their plans. Compared to this, unit-linked plans offer greater value to the customer. Yes, to an extent the risk is in the hands of the customer. However, the flexibility to opt for funds means that the customer can benefit as well. And finally, the returns that these products offer are bound to be relatively higher than what similar traditional plans offer. In order to cater to customers with very low risk appetite we also offer a unitised, with-profit plan across our products, where the bonus rate is declared in advance for the year. This is a conservative approach, but it has its takers. With this option, at the end of the policy the policyholder gets a share of the bonus that the company earns. In this case, there is an assured return that is benchmarked to the current bond rates (5 per cent last year).

What has been the performance of unit-linked plans in other emerging markets? In a country like Poland, where the markets were opened a little over a decade ago, we are today the largest private insurance company. The demand for our unit-linked products is high. Worldwide, the growth of these products is high when compared to traditional products, an indication of where the market is headed. There are a few people who view unit-linked plans as pure investment products that offer little cover. But this is a myth and customers realize this when the benefit of these plans is explained to them.

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With investment options regulated, one has to be prudent with the money that is contributed for the product and has to add value for the business to be successful. I feel that both developed and developing markets understand the great value proposition that unit-linked insurance plans offer. Another factor that tilts the balance in favor of such products is the tax treatment that the accumulated account attracts. Its tax-free, unlike a mutual fund or any other investment, where the gains are taxed.

UNIT LINKED PRODUCTS

Unit Linked Young Star Plan The HDFC Unit Linked Young Star gives you: An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments Valuable protection to your child in case you are not around Flexible benefit combinations and payment options Flexible additional benefit options such as critical illness cover Access to your accumulated fund before maturity

4 Easy Steps to Your Own Plan

Step 1 Step 2 Step 3 Step 4 Choose the investment fund or funds you desire. Choose the amount of protection (Sum Assured) you desire. Choose the additional plan benefits you desire. Choose the premium you wish to invest.

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Step 1 : Choose your regular premium

Minimum regular premium is Rs10,000/- per year, can be paid: Monthly (using Standing Instructions or ECS mandate) Quarterly Half-yearly Annually

You may also choose to pay adhoc Single Premium Top-Up or additional regular premiums depending on your convenience.

Step 2 : Choose your level of protection

You can choose any amount of Sum Assured with: A minimum of 5 times your chosen annual regular premium A maximum of 40 times your chosen annual regular premium

Step 3 : Choose additional plan benefits

We offer a range of valuable protection options of secure your family. You can choose any one of the following benefits: Life Option Life & Health Option Critical Illness Benefit BENEFIT TYPES We will pay the Sum Assured to your beneficiary Your family need not pay nay further premiums. We will pay future regular premiums on your behalf, at Death Benefit

Death Benefit Death Benefit +

SUMMARY

the original level chosen by you Any Critical Illness Cover terminates immediately We will pay the Sum Assured to your beneficiary Your family need not pay any further premiums. We will pay future regular premiums on your behalf, at the original level chosen by you.

Critical Illness Benefit

The Death Benefit Cover terminates immediately

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Step 4 : Choose your investment funds

In this plan the investment risk in your chosen investment portfolio is borne by you, which means that the premiums you pay in this plan are subject to investment risks associated with the capital markets. We have 6 funds that balance your level of risk and return. You can choose from all or any of the following 6 funds:

Asset Class Bank Fund Details Depos its & Mone y Marke t
& Bonds Govt. Securit ies Equ ity

Risk & Return Rating

Fund Liquid Fund Extremely low capital risk

Composition

100%

Lo w

Very stable returns

Secure Manag ed Fund

More capital stability than equity funds 100% Low Moderat e

Higher potential

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return than Liquid Fund Defens ive Manag ed Fund Access to better long-term returns through equities

70% to 85%

15% 30%

to Moderat e

Significan t bong

exposure keeps risks down Balanc ed Manag ed Fund Increased equity exposure gives better long-term return

40% to 70%

30% 60%

to High

Bond exposure provides some stability

Equity Manag ed

Further increased exposure

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Fund

to equities to give a better long-term return

10% to 40%

60% 100%

to Very high

A smaller bond holding will aid

diversifica tion and

provide a little stability Growth Fund For those

who wish to maximize their returns

100% investment in high Indian equities quality

100%

Very high

Flexible Options for your Childrens needs

Flexible Options Premium Payments Benefits You can pay your regular premium up to 15 days after the due date to fit in with your cash flows Single Top-Up Premium Once we have issued your policy, you can invest more than your regular premium, subject to the following

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conditions: You have paid all your regular premiums to date Your total Single Premium Top-Ups at any time is not more than 25% of your total regular premium paid to date Each Single Premium Top-Up amount is at least Rs. 5,000

Premium Changes

You can increase, reduce, or stop your regular premium at any time as long as your policy maintains the minimum level of life cover. The minimum increase in regular

premium amount is only Rs. 5,000/- per year and any changes to premiums will take place from the next premium due date. Changing Investment Decisions your You can change your investment fund choices in two ways: Switching: You can move your accumulated funds from one fund to another anytime. Premium Redirection: You can pay your future

premiums into a different selection of funds, as per your need.

Eligibility
The age and term limits for taking out a HDFC Unit Linked Young Star, a are as shown below :

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Charges
Beneficial Options Term (Yrs.) Period Age (Yrs.) at Entry Max Age at Maturity Min Life Option Life Health Option & 10 25 18 55 10 25 18 65 65 Max Min Max (Yrs.) 75

Premium Allocation Rate Fund Management Charge (FMC) Surrender Charge Other charges

What are the tax benefits available?

Life Insurance as a tax saving tool, offers savings under various sections of the income tax act. Some of the key tax benefits offered are as follows:
Our life insurance plans are eligible for tax deduction under Sec. 80C. Our Pension plans are eligible for a tax deduction under Sec. 80CCC. Our health insurance plans/riders are eligible for tax deduction under Sec. 80D. The proceeds or withdrawals of our life insurance policies are exempt under Sec 10(10D), subject to norms prescribed in that section.

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UNIT LINKED PENSION PLAN

The HDFC Unit Linked Pension gives you: An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments Provides a post retirement income for life Gives you the flexibility to plan your retirement date Gives you the freedom to invest premiums as per your preference

3 EASY STEPS TO YOUR OWN PLAN

Step 1 Step 2 Step 3 Choose the premium you wish to invest, based on your retirement needs Choose the investment fund(s) you desire Choose your retirement age

Step 1: Choose your retirement age

You can select any age you wish to retire at (Vesting age), between 50 years and 75 years.

Step 2: Choose your premium

You can choose either a Single Premium Policy or a Regular Premium Policy Minimum regular premium is Rs10,000/- per year, can be paid: Monthly (using Standing Instructions or ECS mandate) Quarterly Half-yearly Annuall The minimum premium for a Single Premium Policy is Rs.25,000.

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Step 3: Choose your investment funds

In this plan the investment risk in your chosen investment portfolio is borne by you, which means that the premiums you pay in this plan are subject to investment risks associated with the capital markets.

We have 6 funds that balance your level of risk and return.

Asset Class Bank Fund Details Depos its &

Govt. Securit ies & Bonds Equ ity

Risk & Return Rating

Mone y Marke t

Fund Composition Liquid Fund Extremely low risk

capital 100% stable Lo w

Very returns

Secure Manag ed Fund

More capital stability than equity funds

Higher potential return than 100% Low Moderat e to

Liquid Fund Defens Access

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ive Manag ed Fund

better

long-

term returns through equities Significant bong exposure keeps down risks 70% to 85% 15% 30% to Moderat e

Balanc ed Manag ed Fund

Increase d equity

exposure gives better long-term return

40% to 70%

30% 60%

to High

Bond exposure provides some stability

Equity Manag ed Fund

Further increase d exposure to equities to give a better long-term return 0% to 40% 60% 100% to Ve ry hi

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A smaller bond holding will aid

gh

diversific ation and provide a little stability Growth Fund For those who wish to maximize their returns

100%

Very high

100% investme nt in high quality Indian equities

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Flexible Options for you and your familys needs Flexible Options Premium Payments Benefits You can pay your regular premium up to 15 days after the due date to fit in with your cash flows Single Top-Up Premium Once we have issued your policy, you can invest more than your regular premium, subject to the following conditions: You have paid all your regular premiums to date Each Single Premium Top-Up amount is at least Rs. 5,000

Premium Changes

You can increase, reduce, or stop your regular premium at any time. The minimum increase in regular premium amount is only Rs. 5,000/- per year and any changes to premiums will take place from the next premium due date.

Changing Investment Decisions

your

You can change your investment fund choices in two ways: Switching: You can move your accumulated funds from one fund to another anytime. Premium Redirection: You can pay your future premiums into a different selection of funds, as per your need.

Eligibility
Benefit Options Term (Yrs.) Min Regular Premium Single Premium 10 5 Max 40 40 Min 18 18 Max 65 70 Period Age at Entry (Yrs.) Age at Vesting(Yrs.) Max 50 50 Min 75 75

The age and term limits for taking out a HDFC Unit Linked Pension, are as shown below

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Charges
Premium Allocation Rate Fund Management Charge (FMC) Surrender Charge Other charges

TAX BENEFITS (BASED ON CURRENT TAX LAWS)

Under Section 80CCC, you can save up toRs. 33,660 from your tax each year (calculated on the highest tax bracket) as premiums up to Rs. 1,00,000 are allowed as a deduction from your taxable income.

Childrens Plan HDFC Childrens Plan The HDFC Childrens Plan gives you: Invaluable financial support to your child
Helps you customize an ideal plan for your child Provides you multiple options for multiple benefits

3 EASY STEPS TO YOUR OWN PLAN

Step 1 Step 2 Step 3 Choose the amount of targeted savings and policy term using our Financial Planning Tool Choose any one of the 3 plan options as per your childs requirement Work out the premium payable and Sum Assured with our Financial Consultant

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Step 1 : Choose the amount of targeted savings

This plan gives you the flexibility to structure the ideal plan for your child.

Estimate the money, which you might require for your child at any one of the milestones in his or her future Choose the amount of targeted savings and policy term using the Financial Planning Tool available with our Financial Consultant

Step 2 : Choice of 3 Plan options

You can choose any one of the 3 plan options at the start of the policy: Accelerated Benefit Plan Death Benefit OR Maturity Benefit Maturity Benefit Plan Double Benefit Plan Death Benefit AND Maturity Benefit Death Benefit AND Maturity Benefit

Plan Option

Death Benefit (On death of insured parent during the

Maturity Benefit

policy term) Accelerated Benefit Plan We will pay the Sum +

We will pay the Sum Assured+Bonus Declared

Assured Bonuses Declared

The

policy

terminates immediately Maturity Benefit Plan

Your family need not

We will pay the Sum Assured+Bonuses

34

pay further

any

Declared

premiums and policy

continues Double Benefit Plan We will pay the Sum

We will pay the Sum Assured+Bonuses Declared

Assured

Your family need pay further premiums and policy continues the not any

Step 3 : Premium you need to pay

The table below shown the Indicative Premiums for a male life assured paying annual premiums for a Rs 5 lakh sum Assured policy with the policy maturing when the child is 21 years old (i.e. 20 year term period and current age of child is assumed to be 1 year).

Age Parent (Yrs.) 30 35 40

of Accelerated Benefit Plan (Rs.)

Maturity Benefit Plan (Rs.)

Double Plan (Rs.)

Benefit

23,575 24,045 24,890

22,690 22,820 23,055

24,085 24,790 26,005

35

Eligibility
The age and term limits for the insured parent for taking out the HDFC Childrens Plan are as shown below: Term Period (Yrs.) Min Max Age At Entry (Yrs.) Min Max Max Age At Maturity (Yrs.) 10 25 18 60 75

Tax Benefits (Based on current tax laws)

Under Section 80C, you can save up to Rs. 33,660 from your tax each year (calculated on the highest tax bracket) as premiums up to Rs. 1,00,000 are allowed as a deduction from your taxable income.

Under Section 10 (10D), the benefits you receive from this policy are completely taxfree, subject to the exclusions.

Customer Service
Premium Payment

This section gives you all the details that you may require to pay your premium and make it a hassle free experience. Along with various premium payment options currently available to you, we have also drawn up a checklist of details that you will need in case you are paying through cheque or demand draft.

36

6 EASY WAYS TO PAY YOUR PREMIUM:

At any HDFC SLIC branches You can deposit Cheque/Demand Draft drawn in favour of HDFC SLIC at any of the braches during the following business hours:

Monday to Friday Monday to Friday Saturday Closed on Sundays

: 9.30 AM to 4.30 PM (For Cash) : 9.30 AM to 5.00 PM (For Cheque) : 9.30 AM to 12.00 Noon (For Cash & Cheques)

Postage / Courier

You can send cheques and demand drafts drawn in favour of HDFC SLIC to any of our branch offices

37

Online Payment

You can make online payment of premium anytime and from any location, at a click of the mouse by using the Online payment facility. It is currently offered to all the policyholders who are registered users of billjunction.com or have net banking facility with any of the following banks - HDFC Bank, ICICI Bank, UTI Bank, State Bank of India, Punjab National Bank, Union Bank of India.

Drop boxes

You can drop cheques and demand drafts drawn in favour of HDFC SLIC into any of our drop boxes installed at various locations in various cities.

Electronic Clearing Service (ECS) or Auto Debit facility of RBI

You can also pay renewal premiums through Electronic Clearing Service (ECS) of Reserve Bank of India (RBI) presently available in following 42 cities:

New Delhi, Chandigarh, Kanpur, Lucknow, Jaipur, Mumbai, Panjim, Pune, Nagpur, Ahmedabad, Baroda, Surat, Indore, Bhopal, Hyderabad, Vijaywada, Vizag, Bangalore, Chennai, Coimbatore, Trivandrum, Kolkatta, Bhubaneswar, Guwahati, Ludhiana, Patna, Manglore, Amritsar, Jalandhar, Allahabad, Varanasi, Agra, Rajkot, Kochi, Trichur, Jabalpur, Gwalior, Calicut, Jodhpur, Mysore, Raipur, Udaipur

Standing Instructions (SI) Mandate You can also pay your renewal premium through a Standing Instructions Mandate if you have an account with HDFC Bank anywhere in India

38

Checklist while paying your renewal premium through Cheque/demand draft Please mention your policy number and name correctly on the reverse side of the cheque/ demand draft We do not accept Post Dated Cheques (PDCs) beyond the next banking day from date of receipt In case of any overwriting on your cheque, please countersign the same As per RBI guidelines, Non MICR Cheques may not be acceptable at few locations. In this scenario, please contact your nearest branch for more details For Unit Linked Polices you can pay using Local Cheques/ Demand Drafts For other policies you can pay using either Local or Outstation cheques or Demand Drafts

39

RESEARCH METHODOLOGY

TITLE OF STUDY

"WHETHER TAXATION IS A SELLING TOOL FOR LIFE INSURANCE".

PROJECT DURATION My project duration at HDFC Standard Life Insurance jaipur starts from 15TH MAY 2011
TO 1ST July 2011.I have completed my internship of 45 days as a trainee.

OBJECTIVE OF STUDY
In the short span of time, since the insurance sector has opened up, HDFC Standard Life Insurance has, literally, dictated the markets evolution. Catering to all age and income segments, the company started out with the traditional insurance policies that were easy to understand. The idea was entice the customers used to LICs style of functioning.

To explore the knowledge about HDFC Standard Life Insurance Company. To recruit the Financial Consultant for the company. To recruit the Business Leader for the company. To get the IRDA License by giving the exam of Life Insurance.

To create awareness among the public about life insurance benefits and tax
saving.

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TYPE OF RESEARCH
DESCRIPTIVE RESEARCH Descriptive research studies are those studies which are concerned with describing the characteristics of a particular individual, or of a group. In descriptive research studies, the researcher must be able to define clearly what he wants to measure and must find adequate method for measuring it along with a clear-cut definition of the population he wants to study. Since the aim is to obtain complete and accurate information, the procedure to be used must be carefully planned. So, I have planned my research work, accordingly

THE SAMPLE SIZE AND METHOD OF SELECTING SAMPLE

The study is based on the data collected from some selected locations in jaipur. I have taken a sample of 100 customers. The aim is to know the views of the people. Due to shortage of time, the sample taken is small represent the views of all the people. Thus, for the present study, the sample can be said to be representative of all the people of jaipur.

DATA COLLECTION
I have used the following data collection methods during my research study: Primary data:Primary data was collected through survey method by distributing questionnaires to branch manager and other sales manager. The questionnaires were carefully designed by taking into account the parameters of my study. It is collected through survey. It can be collect in following ways:-

PRIMARY DATA SECONDARY DATA

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 Observation Personal interview Telephone interviews Mailing of questionnaire Schedules

Secondary data:They are those which have already been collected by someone else which has already been passed through statistical process. Sources of secondary data Internet Reports Newspapers Books

SAMPLE DESIGN USED

Although there are many methods of sampling which can be applied in research studies, but during the survey, I have applied two methods, which are as follows:

CLUSTER SAMPLING METHOD:

It is difficult and even impossible to identify uniquely each member of the population. Yet it may be possible to identify certain sub-groups with relative cases.

The cluster is a geographical or social unit; though it may be defined by other properties. Typical clusters are city blocks, households, family organizations, farms, etc.

42

Thus, for example, in a survey of city population, no up-to-date lists of the residents are available but a map showing blocks and then sample of each block may be drawn. Count may be taken of those who live in these blocks. Using cluster sampling for my research work, I have divided the whole city of New Delhi, from where I have started my survey, which is Connaught Place, into clusters like first, second, third, and fourth.

b)

RANDOM SAMPLING METHOD:

A sampling procedure for which possible combination of two or more elements have equal chance of being selected is called Simple Random Sampling. In general, a simple random sampling procedure of n elements from the population has equal chance of being selected. Simple random sampling has an important property related to variability of estimates obtained from such samples which decrease as sample size increase. During my survey, I adopted random sampling method where I have selected the customer randomly and asked questions.

43

SCOPE OF STUDY
HDFC SLIC has increased its market share among private life insurers to nearly 40% from 33% as of end-December. The companys first-year premium income in the April-March period stood at Rs. 464.6 crore, accounting for 39.3% of the Rs. 1,364 crorepremium booked by all private life insurers together. Considering the entire life insurance market, including the Rs. 9,780 crore booked by LIC, HDFC SLICs market share works out to be around 4.17%. The life insurance market continues to be dominated by LIC which has about 87.8% of the shares. This is only a marginal dip from its 88.2% share in end-December. These comparisons are only for the first year or new business premium. The gap between HDFC SLIC and the second-in-line private insurer is vast. In fact, this status has led some analysts to wonder if the company is not a trifle too aggressive. But other say this has more to do with the companys customer-centric focus, its pan-India presence, and superior risk-management and investment strategies. HDFC SLIC is not, however, resting on its laurels. Companys customer-centric approach is studied during the training period and the findings of the research work will definitely focus on the present condition and future requirement (if any) relating to products of the company.

44

LIMITATIONS OF STUDY
The old and out dated technique of telemarketing is used to prospect customers. More modern techniques must be adopted. The company must sponsor shows and give presentations in corporate houses. The financial health check must be performed for every prospect to assess his/her true financial position and needs. Some of the advisors skip this vital step and the prospect ends up with a plan they do not appreciate and soon surrender or discontinue. Some of the main problems in marketing the policies are: Large amount of competition (18 players in the market) Other brands are well advertised and have higher recall value LIC is considered a safer option Face competition from banks and mutual funds High premium policies are difficult to market Incorrect perception about insurance Interested prospects might have a lack of time and postpone investments Customers get defensive if you cold call Short term plans are available only at large premium Customers do not have risk appetite to invest in shares Some prospects have already invested and are not interested in further investments Consumers dont want to undertake medical examinations Large amount of documentation Customers do not like their money locked up for many years Lack of awareness about the unit linked funds in the market No money back plan present in the product portfolio.

45

Analysis And Interpretation

CONTENTS OF SURVEY

Q.1 Which group do you belong ? Group Business class private Employees Government Employees No. of Respondents 40 20 40 % of Respondents 40% 20% 40%

Inference:
The major finding of this part of the research study is that business class treat insurance mainly as a tool of Investment and Tax Savings. They spend less on Pension and Life Plans. The major finding of this part of the research study is that Private employees use insurance mainly as an age old tool of Security and they spend equally on Child Life, their life and Tax saving. The major finding of this part of the research study is that Government employees spend more on their life and Child Life compared to other sections of the society

46

Q.2 Specify your family monthly Income ?

Income 10000-15000 15001-20000 20001-25000 25001-Above

No. of Respondents 16 40 4 40

% of Respondents 16% 40% 4% 4%

Inference:
The above table shows that 40% of the respondents who are earning Rs.15001 20,000 & Rs.25001 & Above invest in insurance companies, 16% in the income group of Rs.10000 15,000 and only 4% in the income group of Rs.20001 25000.So the opinion of the salaried people will affect the total survey.

47

Q.3 Do you save money for future ? Group Yes NO No Of Respondents 80 20 % of Respondents 80% 20%

Inference: In todays world of competition in order to provide luxirous life and best education
to the children .parents starts planning from their first day of life and to provide best facilities to family saves money for future. this data also reveals same that most of the population belives in saving money for future.

48

Q.4Do you plan for future investment ? Group 25-35 35-45 45-55 55-above No Of Respondents 30 45 18 7 % of Respondents 30% 45% 18% 7%

Group under the 55- above do not take this as major considerations. mostly people who falls under the category of 25 to 45 plans for investment to enjoy a life and secured future .

Inference: Future investment plays a vital role in every individuals life.

49

Q.5Are you aware about insurance ? Group No Of Respondents % of Respondents

25-35 35-45 45-55 55-Above

20 40 30 10

20% 40% 30% 10%

Inference:
(35-45) age group is having highest number of policy holders among all age groups and highest awareness of insurance among people. (25-35)age group is having the lowest number of policy holders among all age groups and lowest awareness of insurance among people and (55 and above) This age group is having low number of policyholders among all age groups.Low awareness of insurance among people

50

Q.6Are you aware about private life insurance companies ?

Insurer name No of Respondent % of Respondents

HDFC LIFE LIC Others

32 45 23

32% 45% 23%

Inference:
The above table reveals that 45% of population insure in Government Sector and 55% of population with Private Sector. We can easily infer that majority of the population trusts private sector as there is maximum growth for the Private Sector in comparison with Govt. Sector. In private sector 32% of the population is covered by HDFC life Insurance and 23% is covered by other insurance companies (i.e. Reliance Life Insurance, MetLife Insurance, ICICI Prudential Life Insurance etc.).

51

Q.7 Where do you invest ? Group No Of Respondents % Of Respondents

Banks Shares Mutual funds Insurance

30 40 10 20

30% 40% 10% 20%

Inference :This data depicts that general public has many options to invest their funds
. They have banks, shares,insurance etc it is found people park their funds in shares in order have high returns. Some feels shares are risky in nature so park their funds in insurance they are secured in nature . few people feels to invest in banks and mutual funds form them insurance is useless thing.

52

Q.8 Have you ever insured for yourself or your Family members? Group Yes No No Of Respondents 65 35 %Of Respondents 65% 35%

Inference: some people belives that every member in a family doesnt needs to be insured
specially in case of girls. mostly in business class family all family members are found be insured in order to save tax. so companies approach these people and proffesionals(singers, actors) .

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Q.9 Do you think Mutual Funds together with Life Insurance, are more helpful ?
Group Yes No No Of Respondents 61 39 % Of Respondents 61% 39%

Inference: After analysing this it is found that 61% of population agrees that insurance with
mutual fund is helpful this also increases customers and faith also.

54

Q.10 Are you a tax payer ?

Group Yes No

No Of Respondents 83 17

% Of Respondents 83% 17%

Inference: According to this data its shows most of the people pays tax for them its is the
best option to invest in insurance in ordre to reduce risk and also to meet uncertainities.

55

Q.11 Are you able to save your tax with the investment in insurance plans ?

Group Yes No

No Of Respondents 79 4

% Of Respondents 96% 4%

Inference:
Its true that investing in insurance is beneficial for people according to the survey .Its proved that helps in tax saving also .Specially people who falls under the category of business class.

Our Performance vis--vis Competitors The performance analysis is to present how HDFC SL Unit Linked Funds are performing against the Benchmark and our Competitor Funds. We have illustrated how our unit-linked funds available to our Retail Life Business have performed so far The products for which these funds are available I. HDFC Unit Linked Endowment Plan II.HDFC Unit Linked Young Star Plan

56

FACTS AND FINDINGS

1. Around 80% of sample population is ready to invest if they get High Returns, apart from Benefit of Partial & Full Withdrawal Facilities. 2. 40% of business and government people invest in insurance to save taxes. 3. Around 55% like to invest in private life insurance companies. 4. Even though majority of the people have a good awareness but still they have a negative attitude towards investing in insurance and related securities. 5. 24% of sample population is satisfied with Tax Benefits provided by the existing insurance companies. 6. About 22% of sample population is not satisfied with the insurer regarding Insurance Coverage. 7. 31% of sample population is Below Average in their satisfaction level regarding Partial and Full Withdrawal facilities provided by the existing insurer. 8. Investments in insurance related options are given the least priority than ever before.. 9. 23% of sample population insure their life with different insurance companies. 10. Among 83% who are tax payer are able to save tax. 11. 20% of sample population still has not insured their life. So there is a huge demand for insurance products to exploit the market.

57

SWOT ANALYSIS
STRENGTHS
HDFC SLIC is the third largest player in the insurance industry in India It is the largest home loan financing institution in India Standard Life is a 100 years old company (founded in UK) HDFC enjoys the highest AAA credit rating, which ensures highest safety money Mutual Fund Personal Loan of

WEAKNESSES
Some customers are not satisfied with the service of HDFC SLIC Only 24 branches all over India High insurance-period duration High premium Low awareness of HDFC SLIC in rural areas

OPPORTUNITY
Huge opportunity in insurance market Better products as compared to other industries Due to increase in literacy rates, literate people prefer HDFC SLIC HDFC SLIC gives opportunity to other businesses to grow in the market

THREATS
Tough competition from LIC, ICICI, BAJAJ ALLIANCE, and BIRLA SUN LIFE Due to low premium, rural markets prefer LIC Threat for HDFC SLIC because over 21 new companies are entering the market

Currently, HDFC SLIC is the 3rd player in the market, and the major threat is to sustain that position in the face of competition

58

CONCLUSION
PEOPLE HAVING HDFC STANDARD LIFE POLICY

According to the survey, 22% customers do not have HDFC SLIC products and 78% customers have HDFC SLIC products. As HDFC SLIC recently entered the insurance sector, in 4 years it has captured a big market, which is a great achievement for HDFC SLIC. People buy HDFC SLIC products because it gives them dual benefits. It ensures the money that people invested in it and gives good rate of return, and secondly, it enables them to sell its products much more effectively in a short span of time. Approximately, 82% customers are satisfied with the premium policy of HDFC SLIC. It means that bulks of the policy holders are satisfied with the premium policy of HDFC SLIC. Only a meager percentage of 28% customers are not satisfied with the premium policy. This does not have any negative impact on the creditworthiness of the organization.

SATISFIED WITH REGULAR SERVICE OF HDFC STANDARD LIFE . The services such as intimation for payment of due premium in time, and about other related documents of the policies, fall under this category MARKET EXPANSION There has been an overall expansion in the market. This has been possible due to increased awareness levels, thanks to the large number of advertising campaigns launched by the players. The scope for expansion is still unlimited as virtually all the players are concentratingon large cities and towns, except for LIC, which made a significant effort to tap the rural market.

NEW PRODUCT OFFERING

59

There has been a plethora of new and innovative products offered by the new players, mainly due to the stability of the customers of the international partners which range from a large variety of products from pure terms (risk) insurance to unit-linked investment products. Customers are offered unbundled products with a variety of benefits as riders, from which they are to choose. More and more customers are buying products and services based on their true needs and not just traditional money back policies, which are considered very appropriate for long-term protection and saving. However, there are still some key products to be introduced, such as, health products.

CHANNELS OF DISTRIBUTION Till the last two years, the only mode of distribution of life insurance products was the insurance agents. While agents still continue to be the predominant distribution channel, today a number of innovative alternative channels of distribution are being offered to the customer. Some of them are banc assurance partners, brokers, and direct marketing. The widespread reach of bank branch network in India could lead to banc assurance emerging as a significant distribution mechanism.

RECOMMENDATION AND SUGGESTION

60

After analyzing the customer feedback it is clear that at present at HDFC Standard is having an edge over other various life insurance companies. There are a few areas where HDFC Standard could rework on its strategies to outperform its competitors in the future. HDFC Standard could introduce more customer friendly feature on its policies like unlimited free switches, lower administration charges, more allocation to the units in the first year etc. HDFC Standard can unquestionably make good use of more advertisement to promote its products and to improve its brand awareness and brand image. Company can give more importance to the new age insurance solutions. Company should introduce more innovative pension and child ULIP plans as they have more demand. from the customer s point of view, HDFC Standard is just another private insurer trying to sell whatever they have. Instead the company must modify its product range in such a way that the company could clearly distinguish its products from that of its competitors. HDFC Standard must exploit its reputation as successful banking and insurance company. Even today many people don t know that HDFC and Standard is the same company they trust as banking and insurance company. HDFC must clearly introduce ULIP products with low premium because the low profile customers who want to invest in HDFC Standard have no option other than going to other private players. If all these factors are addressed properly, there is a very high probability for the company to be the best and the biggest private life insurance company in Indian life insurance industry in future

APPENDIX
61

QUESTIONNAIRE
Name Mr. /Ms : Address: Age :Contact No : Email ID :

Q.1 Your Profession: Self Employed / Salaried / Others ________

Q.2 Specify your Family monthly Income? Rs. 10,001 15,000 / Rs. 15,001 20,000 / Rs.20,001 25,000 / Rs. 25,001 Above

Q.3 Have you ever insured for yourself or your Family members?

Yes / No

Q.4 Do you plan for future investment?

Yes/No

Q.5 Do you save money for future?

Yes/No

Q.6 Are you aware of insurance?

Yes/No

Q.7Are you a Taxpayer?

Yes/No

Q.8 Have you taken any insurance policy? (If Yes, name company______________________)

Yes/No

Q.9 Generally, where do you invest your savings?

62

Preferences In Banks In Insurance In Mutual Funds In Shares

Name

Q.10 Do you think Mutual Funds together with Life Insurance, are more helpful? Yes/No

Q.11 Are you aware about private life insurance companies?

Yes/No

BIBLIOGRAPHY
63

 BOOKS:
1. Kothari Dr. C.R,. Research Methodology (Methods & Technique), New Age International (P.) Ltd, Second Edition 2. Agarwal M.R., Financial Management, Garima Publication, Second Edition 3. Khan M Y & Jain P.K., Financial Management, Tata McGraw-Hill publishing Company Limited, Fifth Edition

MAGAZINES:
Business Journals India Today Outlook Money

NEWS PAPERS:
Times of India Hindu The Indian Express Economic Times

WEBSITES:
www.hdfclife.co.in www.irda.com www.indianinsurance.co.in

OTHERS:
Companies Broachers and other product detail book.

64