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INTRODUCTION
INSURANCE REGULATORY & DEVELOPMENT
AUTHORITY (IRDA)
Composition of Authority under IRDA Act, 1999
As per the section 4 of IRDA Act' 1999, Insurance
Regulatory and Development Authority (IRDA, which was
constituted by an act of parliament) specify the
composition of Authority.
The Authority is a ten member team consisting of
(a) a Chairman
(b) five whole-time members
(c) four part-time members

INSURANCE BUSINESS
Life Insurers transact life insurance business; General Insurers transact the rest.
No composites 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.
INSURANCE PRODUCTS (as on 1.4.2000) (for latest information get in touch with the
current insurers website information of insurers is provided at the web page for
insurers )

Life Insurance:
Popular Products: Endowment Assurance (Participating), and Money Back
(Participating). More than 80% of the life insurance business is from these products.

General Insurance:
Fire and Miscellaneous insurance businesses are predominant. Motor Vehicle insurance
is compulsory.
Tariff Advisory Committee (TAC) lays down tariff rates for some of the general insurance
products (please visit website of GIC for details )

COMPANY PROFILE
Overview
Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a
well known Indian conglomerate and Sun Life Financial Inc, one of the leading international
financial services organizations from Canada. With an experience of over a decade, BSLI has
contributed to the growth and development of the Indian life insurance industry and currently is one
of the leading life insurance companies in the country.
Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a
well known Indian conglomerate and Sun Life Financial Inc., one of the leading international
financial services organisations from Canada. With an experience of over a decade, BSLI has
contributed to the growth and development of the Indian life insurance industry and is currently one
of the leading life insurance companies in the country. BSLI has a customer base of over two million
policy holders and has attained recognition as the 3rd Most Trusted Life Insurance Company in the
'Most Trusted Brands' survey 2013 conducted by Brand Equity (The Economic Times Group) with
Neilsen. The Company offers a complete range of offerings comprising protection solutions, children's
future solutions, wealth with protection solutions, health and wellness solutions, retirement solutions
and savings with protection solutions. It has an extensive distribution reach in over 500 cities through
its network of over 540 branches, more than 81,000 empanelled advisors and over 140 partnerships
with corporate agents, brokers and banks. Birla Sun Life Insurance has total assets under
management of 24,775 Crores and a robust capital base of over 2,170 Crores, as on 31st Mar, 2014. For
more information, please visit www.birlasunlife.com
OBJECTIVE OF THE STUDY
Spread Life Insurance widely and in particular to the rural areas and to the socially and
economically backward classes with a view to reaching all insurable persons in the
country and providing them adequate financial cover against death at a reasonable cost.
Maximize mobilization of people's savings by making insurance-linked savings
adequately attractive.
Bear in mind, in the investment of funds, the primary obligation to its policyholders,
whose money it holds in trust, without losing sight of the interest of the community as a
whole; the funds to be deployed to the best advantage of the investors as well as the
community as a whole, keeping in view national priorities and obligations of attractive
return.
Conduct business with utmost economy and with the full realization that the moneys
belong to the policyholders.
Act as trustees of the insured public in their individual and collective capacities.
Meet the various life insurance needs of the community that would arise in the changing
social and economic environment.
Involve all people working in the Corporation to the best of their capability in furthering
the interests of the insured public by providing efficient service with courtesy.
Promote amongst all agents and employees of the Corporation a sense of participation,
pride and job satisfaction through discharge of their duties with dedication towards
achievement of Corporate Objective.

BSLI Premium Back Term Plan
BSLI Premium Back Term Plan is a unique, low-cost term plan that offers you an assured
peace of mind with premium back on maturity.
Optimal life insurance cover
This plan offers you optimal life insurance cover at low costs, thus ensuring your family's
financial security in case something unfortunate happens to you
Money back at maturity
You receive the total premiums paid over the policy term at maturity.
Plan Summary
Entry Age
Minimum - 18 years
Maximum - 50 years for the 20 year term
55 years for the 10 and 15 years term plan
Minimum sum assured
Rs. 2,00,000
Premiuim Paying Frequency
Annually, semi- annually, quarterly or on a monthly basis
Tax Benefits
Under Section 80C and 10(10D) of the Income Tax Act, 1961

BSLI Vision Endowment Plan
How The Plan Works
Your premium will depend on all of the above choices.
Please refer to the product brochure for details.
Plan Summary
Entry Age (age on last birthday)
1 55 years
Policy Term
20 years
Premium Paying Term
7 | 10 years
Minimum Sum Assured
Rs. 100,000
Minimum Premium
Rs. 10,000
Premium Frequency
Annual, Semi-annual, Monthly

BSLI Vision Regular Returns Plan
We work hard for our loved ones & strive to provide the best to them. At BSLI
we understand your needs and help you to plan better to achieve your financial
goals and realize your dreams with BSLI Vision Regular Returns Plan, an
affordable savings and life insurance plan. BSLI Vision Regular Returns Plan is
a traditional participating endowment plan. With survival benefits payable
every year from 5th policy anniversary till maturity and life insurance benefit,
this plan offers a perfect combination of liquidity, savings and financial
protection of your family.
Key Advantages
Growth to your savings Enhance your savings by accrued bonuses starting
from the first policy year.
Easy liquidity at regular intervals You receive survival benefits every year
starting from end of five years till the end of policy term.
Tax Benefits under Section 80C, 80D and Section 10(10D) of the Income Tax
Act, 1961.
Safety to your loved ones Comprehensive financial protection of your
family depending on your choice of Sum Assured.

Quick View

Entry Age (Age
on last birthday)
: 13 45 years
Policy Term : 20 years
Premium Paying
Term
: Same as policy term
Minimum Sum
Assured
: Rs. 2,00,000
Premium
Frequency
:
Annual - for all ages
Semi-annual, Quarterly and
Monthly for ages less than equal
to 40 years
OTHER PLANS
BSLI Vision LifeSecure Plan
BSLI Income Assured Plan

RESEARCH METHODOLOGY
TYPES OF RESEARCH
The basic types of research are as follows

Descriptive Research:
The major purpose of this research is description of the state of affairs as it exists at
present.

Analytical Research:
In this research, the researcher has to use facts or information already available, and
analyze these to make a critical evaluation of the material

Applied Research:
It aims at finding a solution for an immediate problem facing a society or an industrial/
business organization.

Fundamental Research:
It mainly concerned with generalizations and with the formulation of a theory.

Quantitative Research:
It is based on the measurement of quantity or amount. It is applicable
to phenomena that can be expressed in terms of quantity.

Qualitative Research:
It is concerned with the qualitative phenomenon, i.e., phenomena
relating to or involving quality or kind.

Conceptual Research:
It is related to some abstract ideas or theory.

Empirical Research :
It is data- based research, coming with conclusions, which are capable
of being verified by the observation and experiment

Diagnostic Research:
Such a research fallow case -study method or in-depth
approaches to reach the basic casual relation.

Exploratory Research :
The objective of this research is the development of
hypothesis rather than their testing.

Sample Size : 100
Place of research : Lucknow

BIBLIOGRAPHY
BOOKS:-

Marketing Research (Mr. D.D. Sharma)
Research Methodology (Dr. C. R. Kothari)
Consumer Behavior (Leon, Leslie Lazer)

Periodical
Business India
Business World
News Today
Economic Time
Websites and Web Zones
http://www.hinduonline.com
QUESTIONNAIRE
Are you Income Tax Payee?
Yes No
Have you Availed any insurance for your family?
Yes No
If yes then which company?
(1) L I C (2) Birla Sun Life Insurance
(3) Life insurance (4) Other
In BSL which plans you preferred?
(1) Special Plans (2) Group Schemes
(3) Unit Plans (4) Pension Plans
In Special Plan which you preferred ?
BSLI Premium Back Term Plan
BSLI Vision Endowment Plan
BSLI Savings Plan
BSLI Vision LifeSecure Plan
BSLI Income Assured Plan
BSLI Vision Regular Returns Plan


Why you preferred this plan?
(1) For the Secure ness
(2) For the Simplicity
(3) For the Economy
Don you find difficulty in obtaining insurance policy from insurance
companies?
Yes No
Whom do you preferable approach insurance ?
(1) Government (2) Private
Have you heard about BSL Special Plan of Life Insurance?
Yes No
Are you aware about the income tax under benefit section-88 Principle
amoungest Repaid?
Yes No