INDEXChapter-I  1) Introduction  2) Literature Review  3) Statement of the problem  4) Purpose of the study  5) Scope of t...
BABASAB PATIL   2
INDUSTRY OVERVIEWTHE HISTORY OF INSURANCE:       As with so many things in so many facts of our life, insurance too was bo...
Lioyd’s of London the largest marine insurance today, was found in 1688, in acoffee shop in London. Lioyd’s coffee house b...
NATIONALSATION:          Post-Independence, discontent against insurers reached a pitch. Business waschaotic ,, foreign in...
PRIVATISATION:      There were various reasons given by the government to nationalize the insurancesector was to take insu...
Why private insurance are queuing up?      In many ways the re-entry of private insurers has marked Second Coming for thes...
INTRODUCTION OF LIFE INSURANCE :History of life insurance in India:            The life insurance industry in India dates ...
Growth in Indian insurance industry was minimal in the 1960s and 1970sbecause of low sayings and the low level of literacy...
The cost of life insurance varies depending on such factors as the insured ‘sage health and occupation . For example the p...
What is an insurance premium:            An insurance premium is the actual amount of money charged by insurancecompanies ...
An insurance premium is generally collected in monthly or semi-yearlypayments .If the policyholder fails to make a schedul...
INDIAN         FOREIGN         COUNTRY      INSURER           WEBSITEPROMOTER       PROMOTERBajaj Auto     Allianz AG     ...
The project report on “A study on customer awareness to determine the potentialmarket “HDFC Standard Life Insurance Plan” ...
STATEMENT OF THE PROBLEM          “A study on customer awareness to determine the potential market ofHDFC Standard Life In...
Objectives:          1. To study the awareness level of “HDFC Standard Life Insurance Plan”.          2. To find factor in...
BABASAB PATIL   17
Organizational Profile:HDFC (Housing Development Finance Corporation Ltd.)         Founded in 1977, HDFC is today the mark...
HDFC promoted companies have emerged to to meet the investor andcustomers needs.       HDFC bank for commercial banking HD...
Standard Life Assurance Company (SLAC)       Founded in 1825, Standard life has been at the fore front of the U.K. Insuran...
and Poor’s. The letter described standard life’s ability to meet its claims obligations ofoverwhelming under a variety of ...
premium                                                •   Total commission payable in the                                ...
Why should be a consultant with HDFC standard life insurance Company Ltd.?     •   HDFC standard life are companies with t...
Scope of Insurance Business in India           The malhotra committee estimated that the insurance penetration in India is...
Life premeum as a proportion of GDS  20                                                           19  18  16              ...
HDFC Standard Life Insurance Company Ltd. is one of India’s leading private lifeinsurance companies, which offers a range ...
Customer services          We at HDFC Standard Life are committed to maintaining the highest level ofcustomer service. Int...
Lapsation & Revival       Your renewal premium should reach us by the due date specified in thepremium reminders. It is al...
We do, however, allow you to restore the original benefits for a Lapsed or aPaid up policy under certain conditions. Here ...
Claims We understand that bereavement can be difficult to deal with, especially when you have to arrange for all the forma...
Our Single Premium Whole Of Life plan is well suited to meet your long term investment  needs. We provide you with attract...
edContributionSuperannuationGroupLeaveBE ABASAB PATIL   32
Rural ProductsAccording to our research findings, there is keenness among rural customers to investin savings cum protecti...
Term10yearsMaximumTerm30yearsBABASAB PATIL   34
Development Insurance PlanDevelopment Insurance plan is an insurance plan which provides life cover to members ofa Develop...
The role of the Development AgencyDue to the nature of the groups covered, HDFC Standard Life will be passing certainadmin...
Tax BenefitsBABASAB PATIL   37
INCOME           TAXSECTIONGROSSANNUALSALARYHOW            MUCHTAX CAN YOUSAVE?HDFCSTANDARDLIFE PLANSSec. 80CAcross All in...
Knowledge CentreOur Knowledge Centre is your personal resource for information that can help youunderstand the basics of i...
BABASAB PATIL   40
HDFC Standard Life Insurance Company Ltd. is one of India’s leading private lifeinsurance companies, which offers a range ...
carriersHDFCs finest investment is in its Human Resources. It draws its personnel frommany disciplines. They are the build...
Join the Winning Team at HDFC SLIn our quest to be a competitive player in the insurance space, we are keen topartner with...
Medical    Group Companies    Some of our valued bancassurance partners.    BABASAB PATIL                                44
NewsBABASAB PATIL   45
lastoneyear".BABASAB PATIL   46
Accident Benefit                   An add-on with a life policy. It compensates a policyholder in the event of            ...
Profit earned from the sale of stocks, mutual fund units and real estate. Long-term      capital gains arise from assets o...
Discretionary expenses      These are expenses like entertainment, dining out and non-compulsory travel that      you can ...
fixed deposits and stocks and physical, such as home, after your death to your heirs      without any delay or loss.      ...
Group Insurance      An insurance policy taken out by employers to provide life cover to their      employees. Usually the...
Level term cover rider      A rider that increases the life cover in non-term plans, up to a maximum of the sum      assur...
bond comes to an end.      Money-back plans      A variant of endowment plans in which survival benefits are disbursed thr...
accident onwards from any work, occupation or profession. While the loss of the      body part may be permanent, its effec...
more regularly the interest is calculated on the outstanding loan amount, the lesser      the interest costs and cheaper t...
Term plans      A plan that provides life cover for a specified period of time, but no return on the      premia paid     ...
profits      Whole-life plans      Class of life insurance policies that provide cover through your lifetime.      BOARD O...
become a Executive Director in 1993. He was appointed as its Managing Director      in November, 2000. Mr. Mistry is a Fel...
Director of Control and Strategy HSBS Securities and Managing Director      International Equities. He was also responsibl...
Mr. Ranjan Pant              Is a global Management Consultant advising CEO/Board of Strategy andChange Management. Mr. Ra...
Institute of Technology, Bombay and a Master Degree in Business Administration fromThe American University, Washington DC....
2.What is your age?.   25                                      23   20                     19   15   10                   ...
3. What is your qualification?.                     5      4                                                   a          ...
4. Are you living in your own house?. 45               39 40 35 30 25                                                 Seri...
5. Are you using the following?.                                                          a                               ...
6. What is your occupation?.                   4   0                                   15               a                 ...
7. What is your monthly income?.  30                          26  25  20                                                  ...
8.Are you aware of any thing about           HDFC Standard Life Insurance?.     30                            26     25   ...
9.If yes how do you come to know?.                   3       0                            a                               ...
10. Do you want to know more about                     HDFC?.   40   30                39                                 ...
11. Do you want to invest your money    in the HDFC Standard Life Insurance?.   30            26   25                     ...
12. If yes in which plan you want to                       invest?. 10  5                9       8        7               ...
•   8% of respondents are interested to invest their money in the “Pension           Plans”.        13. In which company y...
14. Your saving consist of?.        30                                              27        25                          ...
Findings  •   In 50 respondents presently 46% of respondents age between 30 to 40 years.this      indicates that they have...
•   In Dharwad city 78% of respondents wants to know more about HDFCs      policies so it is suggest that the company shou...
Conclusion       From the survey analysis it was found that in Dharwad City more than half ofrespondents are unaware about...
Recommendations   1. More number of respondents have their monthly income below Rs.5000. And       such kind of population...
Bibliography.  •   MARKETING RESEARCH BY DONALD S. TULL & DELL HAWKINS.  •   PRINCIPLE OF MARKETING BY PHILLIP KOTLER & AR...
Questionnaire.                                This is an anonymous surveyDear respondent.    1. What is your gender?      ...
(If No skip to the question no. 10)    9. If yes how do you come to know?           Executive                       Friend...
S.N0.   1   2   3   4   5   6   7   8   9   10   11   12   13   141       a   b   a   a   c   b   b   b       a    a    d ...
46   a   d      b   a   c   b   c   b   a   a   c       d47   a   b      b   a   c   b   b   b   b   b   b   c   b48   a  ...
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  1. 1. INDEXChapter-I 1) Introduction 2) Literature Review 3) Statement of the problem 4) Purpose of the study 5) Scope of the study 6) Objectives of studyChapter-II 1) Organization Profile 2) Organization Chart 3) Sampling 4) Research Design Data Collection Methods 5) Measuring tools.Chapter-III 1) Result & discussion with graphs & charts. 2) Summary, conclusion, & a proposed action plan with resource requirements and projected benefits to the organization.Chapter-IV 1) Appendix Questionnaire 2) BibliographyBABASAB PATIL 1
  2. 2. BABASAB PATIL 2
  3. 3. INDUSTRY OVERVIEWTHE HISTORY OF INSURANCE: As with so many things in so many facts of our life, insurance too was born outof a primal need and shaped by socio economic realities of the time. The story goesback to around 2100 BC, the time ancient civilization of Babylon and a businesspractice called ‘bottomry’. For all practical purposes a form of marine insurance,bottomry enabled ship owners to borrow money against their ships to pay for the trip.With piracy rampant of high seas, traders and seafarers were reluctant to sale to otherlands for fear of their lives and goods. Bottomry gives them some semblance ofsecurity. The arrangement was only if their ship returned did trader have to repay theloan, along with interest, which was pegged at an above market rate for risk covered.So, if their ship failed to make it back they did not have to repay the loan ,there bycovering some or all the loss.ORIGIN: With the marine rout being the bedrock of trade and commerce in those days, thepractice of bottomry evolved and spread. With the growth towns and trade in Europe,medieval guilds (group organized on the basses of some common objective like traders)pooled in money to protect their members from loss by fire and ship wreck, to payransom if they were captured by pirates and to provide burial and support in sicknessand poverty. By the middle of 14th century, as evidences by earliest known insurancecontract (Genoa, 1347) marine insurance was common among maritime nations ofEurope.BABASAB PATIL 3
  4. 4. Lioyd’s of London the largest marine insurance today, was found in 1688, in acoffee shop in London. Lioyd’s coffee house became preferred place for merchants,ship owners and underwriters to transact business. Insurance develop rapidly withgrowth of British commerce in 17th & 18th century, and started becoming organized,along the way going through a period of defaults and closures. The British bought insurance to India in 1818, replete with imperialistprejudices. The oriental life insurance company, the first insurance company in thecountry, insured only European widows. British insurers eventually begin insuringIndian lives, but for a premium that was 15% to 20% higher than that payable byBritish. It was only in 1870 that the disparity was corrected. Six Indians peeved by thissecond-class treatment, set-up Bombay Mutual Life Assurance Society, and startedinsuring Indian lives at the same cost of British lives. Social discrimination, in fact,turned out to be catalyst for Indians initiative in insurance sector. In 1909, activistIshwar Chandra Vidyasagar founded the Hindu family annuity fund the first instant of apension-based investment scheme targeted at Indians. As had happened in England earlier, a flood of new players and patchy regulationsnowballed into a crisis. Several insurers defaulted on their contractual obligations topolicyholders, citing investment losses, some even folded-up. The insurance act 1938started control on insurance but even they failed to safeguard policyholder’s interests.BABASAB PATIL 4
  5. 5. NATIONALSATION: Post-Independence, discontent against insurers reached a pitch. Business waschaotic ,, foreign insurers were leaving the country, and Indian insurers, driven bygreed and business consideration, weren’t earning much credibility. The cry fornationalizing insurance grew louder a move that insurers were, of course, opposed to. On 19 th January 1956, the life insurance business was nationalized. In one swoop,the government snapped up 245 insurers and provident societies. Eight months later,the life insurance corporation of India (LIC) was formed, which took over the businessof the erstwhile private insurers, and started expanding at a frenetic pace. Today, thismonolith has 2100 branch, 8lakh agents and offers a bevy of insurance investmentproducts. LIC marketed insurance less has a risk management tool and more hassavings instruments with tax edge. A look at LIC policy profile shows that 18% ofpolicies in force currently are protection plans. Insurance cum investment plans accountfor 60%, with balance being pure investment plans. Still house holds embraced thesesafe investment avenues, with the sum assured (or the total value of cove) increasingfrom Rs.1476cr in 1`957 to Rs. 459201cr to 1998 to 1999. Similar circumstances lead to the nationalization of non-life (general insurance).As in life insurance per nationalization there were an inordinately largely number ofinsurers many of who where notorious of clams. Non life insurance was nationalized in1972. General Insurance Corporation was setup as a holding company, total of 107private insurers where merged and group to form general insurance corporation foursubsidiaries.BABASAB PATIL 5
  6. 6. PRIVATISATION: There were various reasons given by the government to nationalize the insurancesector was to take insurance to the mass, facilitate the flow of long term funds (whichinsurance companies, by virtue of the business they are in, have ready access to) intodevelopment of infrastructure in the country, and safe guard the interest of the policyholders. Towards this end, state insurers did develop the insurance sector, though mostexperts believe that these monopolies could have done much, much more. In the early nineties is, the government went on a reforms binge and startedloosing controls on Indian industry. In 1993 the government appointed the Malhotracommittee headed former RBI governor R.N.Malhotra, to draw up a blue print forinsurance sector reforms. The panel submitted its report a year later, recommendingprivatization, backed by stiff entry guidelines and stringent regulations, so as to avoidrepeat per nationalization free for all. The insurance regulatory and development authority (IRDA) was founded toregulate the sector and over see the process of privatization. In 2000, the IRDA startedgiving out licenses, and a year later, the first of the private players started operation.The wheel had come full circle. Under state control, the insurance sector, both life and non-life ,grew steadily.Still, Indians are not adequately insured and lag behind most countries. Total insurancepenetration (insurance premium as a percentage of gross domestic product) is dismalwhen compared to its economic standing. Just 2% of the population has some of lifeinsurance.BABASAB PATIL 6
  7. 7. Why private insurance are queuing up? In many ways the re-entry of private insurers has marked Second Coming for thesector. In just 3 years, the sector has under gone a make over, offering the fruits of freemarket, more choice better service, and quicker settlements, tighter regulations greaterawareness. State insurers have been compelled to get their act together.BABASAB PATIL 7
  8. 8. INTRODUCTION OF LIFE INSURANCE :History of life insurance in India: The life insurance industry in India dates back to 1818 .when the OrientalLife Insurance Company set up office in Kolkata in 1823, the Bombay Life AssuranceCompany started operations in Mumbai, India. The Indian Life Assurance CompaniesAct was passed in 1912; the Indian Insurance Companies Act 1928 followed this.These acts allowed the Government to collect data regarding life and non lifebusinesses conducted by both Indian and foreign insurance companies later the 1928act was amended and a new act the ‘Insurance Act’ was passed in 1938. By the mid 1950s, 154 Indian insurers, 16 foreign insurers and 75 providentsocieties were operating in the country. The life insurance business was concentrated inurban areas and was confined to the higher strata of society. In 1956, the managementof these companies was taken over the Government of India LIC was formed inSeptember 1956 through the LIC Act 1956 with a Capital of Rs 50 million .One of themain objectives of forming LIC was to make insurance cover available to a largernumber of people particularly to the lower segments of society . In 1972, theGovernment took over management control of 106 private general insurance companiesand formed the General Insurance Corporation(GIC) over the years , LIC expanded itsnetwork all over the country and become one of the largest corporations in India .LIChad seven zonal offices 100divisional offices ,2,048 branch offices and army of agentstotaling 6,28,031.BABASAB PATIL 8
  9. 9. Growth in Indian insurance industry was minimal in the 1960s and 1970sbecause of low sayings and the low level of literacy. In addition the insurance industrylacked sufficient funding and infrastructure .However changes in the economy in the1980s, such as growth in the rate of industrialization improvement in infrastructure thecapital markets increase in the savings rate and substantial capital formation resulted intremendous growth in the life insurance industry over the years LIC launched severalgroup insurance and social security schemes to enhance its reach in the rural areas.What is life insurance? Life insurance is a form of insurance that pays monetary proceeds upon thedeath of the insured covered in the policy. Essentially , a life insurance policy is acontract between the named insured and the insurance company wherein the insurancecompany agrees to pay an agreed upon sum of money to the insured’s namedbeneficiary so long as the insured’s premiums are current. People take out life insurance policies for a number of reasons. Suchinsurance provides security to family members upon the loss of a loved one for instanceif the primary wage earner dies in his or her prime the death benefit received from alife insurance policy will assist the surviving family members in overcoming theburden of the tragic loss . Life insurance can be purchased by individuals but is alsooffered as a perk by many employers .Often times large employers and governmentemployers offer group life insurance at no cost the employee . Should the employeewish to obtain additional life insurance from the employers insurance company theycan usually do so at reduced rates.BABASAB PATIL 9
  10. 10. The cost of life insurance varies depending on such factors as the insured ‘sage health and occupation . For example the premium for a 25 year old male non-smoker in excellent health will be far less expensive then a similar policy for a 65-year–old male smoker .similarly a sky dive instructor would have to pay much higherpremiums for life insurance then would a librarian. Life insurance is available in a number of different forms to fit the tastes ofthe proposed insured some of the typical forms of insurance policies include whole lifevariable life and term life .Term life insurance policies begin with low premiumsduring the initial stages of the policy and these premiums increase steadily as theinsured grows older .There is no cash built-up in a term policy and accordingly thedeath benefit will not increase. With whole life and variable life insurance a portion of premium pays forthe insurance and the remainder serves as a tax-free investment .A whole life policysets a premium at the beginning of the policy and that premium does not change overthe life of the policy .This form of insurance allows for a cash of the policy or it willsimply serve to increase the death benefits in the end. In a variable life product, the premium remains the same over the life of thepolicy , and there should be a cash build-up as long as the various mutual fundsselected by the insured perform well.BABASAB PATIL 10
  11. 11. What is an insurance premium: An insurance premium is the actual amount of money charged by insurancecompanies for active coverage .An insurance premium for the same service can verywidely among insurance providers which is why experts strongly recommend gettingseveral quotes before committing to an insurance policy .Insurance agents or brokerswill take your basic information and calculate an insurance premium estimate based onyour answers and other factors. The lowest quoted price on an insurance premium maybe the better bargain but the level of coverage may also be lower. The cost of an insurance premium is largely based on statistics notnecessarily on individual habits or history .A 22-year –old male seeking car insurancefor a sports car can often anticipate a higher insurance premium than a 45-year-oldwomen driving a mid-size sedan. Both may have excellent driving records but theinsurance company considers a younger driver in a faster car to be more at risk foraccidents. Therefore the insurance premium quotes will be noticeably different. Ingeneral a more expensive or faster car will cost more to insure simply because ownersof those vehicles TEND to drive faster. The same philosophy holds true for medical insurance premium costs .Non-smokers statistically live healthier lives then smokers ,for example Construction workermay have more serious on the job accidents than accountants . A55-year-oldlumberjack who smokes may be charged a higher health insurance premium than a 30-year-old non-smoker working in an office conversely an insurance premium may bereduced if the policyholder changes his or her habits and life style.BABASAB PATIL 11
  12. 12. An insurance premium is generally collected in monthly or semi-yearlypayments .If the policyholder fails to make a scheduled payment the insurancecompany can choose to cancel the policy entirely. This is often referred to as a lapsedpolicy .Either the customer will pay the balance of the insurance premium and becomereinstated or the policy will become null and void. Because the billing cycle can belengthy it is not unusual for policy holders to forget to make a payments before thepolicy lapses. An insurance premium is always in a state of flux Rates can go up or remainstable between billing cycles .An accidents claim can dramatically changes theinsurance premium rate of the claimant especially if the accidents report show thepolicy holder was at fault . Because most states now have a mandatory minimalinsurance coverage law for drivers there may be no other choice but to pay theincreased insurance premium or find another company willing to a higher risk driver.Insurance agencies are for profit businesses , so they will make every effort to recouptheir losses after a pay-out . Paying an insurance premium may seem like a waste ofmoney ,but knowing your expenses will be met after an accident can bring peace ofmind .BABASAB PATIL 12
  13. 13. INDIAN FOREIGN COUNTRY INSURER WEBSITEPROMOTER PROMOTERBajaj Auto Allianz AG Germany Bajaj Allianz bajajallianz.co.i Life Insurance nICICI Prudential USA ICICI iciciprulife.com Prudential Life InsuranceHDFC Standard Life UK HDFC Standard hdfcinsurance.c Life Insurance omVysya Bank ING Group Netherland INGVysya Life ingvysyalife.com s InsuranceSBI Cardif(arm of Canada SBI Life sbilife.co.in BNP paribas) InsuranceTATA American USA Tata-AIG Life tata_aig.com International Insurance GroupDabur India Aviva Plc Aviva Life avivaindia.com InsuranceAditya Birla Sun Life Canada Birla Sun Life birlasunlife.comGroup InsuranceLiterature Review:BABASAB PATIL 13
  14. 14. The project report on “A study on customer awareness to determine the potentialmarket “HDFC Standard Life Insurance Plan” in Dharwad. I through under took theproject by the help of “HDFC Standard Life Insurance Plan” Ltd. Sales developmentmanager Mr. Moin LohaniBody of the Report: Primary data was collected by administration questionnaire of 100 customers.The questionnaire was specially framed to meet the requirement of the survey and thefollowing details. Direct contact was made with the respondents through random sample to collectthe needful information with reference to our objective as per to meet the surveyrequirement.Interview technique: Direct personal interview was conducted throughout project using directstructured and self administrative questionnaire.Conclusion & Recommendation: Analysis was based on the result of the research conducted and therecommendations are based on the analysis.Limitation : The major limitation of the project was time frame.BABASAB PATIL 14
  15. 15. STATEMENT OF THE PROBLEM “A study on customer awareness to determine the potential market ofHDFC Standard Life Insurance Products and plans”. The main core problem in the project is to know weather the people of Dharwadcity is fully aware of “HDFC Standard Life Insurance Plan”Purpose of the study: The study was undertaken to gather information from the respondentsregarding awareness Unit-Linked Youngster plan and the purpose of the study is toknow how many people are aware of “HDFC Standard Life Insurance Plan”Scope of the study: • The study will help the company to know the awareness of “HDFC Standard Life Insurance Plan” in Dharwad city. • The study will help the company to know the customer profile. • The company can find out where their competitors stand. The reason for confining the scope of the research in Dharwad were . 1) One of the fast growing city in educational field in Karnataka and represents the more scope to the insurance companies. 2) It is also commercial city in the Business field.BABASAB PATIL 15
  16. 16. Objectives: 1. To study the awareness level of “HDFC Standard Life Insurance Plan”. 2. To find factor influencing financial planning. 3. To find potential market for “HDFC Standard Life Insurance Plan” 4. To find vital communication media.RESEARCH METHODOLOGYData source: Primary data (field survey)Area of Research: Dharwad city.Research instrument: Questionnaire.Sample Plan: Personal Interview.Sample Unit: Businessman, Job holders, etc.Sampling method: Non probability method, Random sampling method.Sample Size: 50 respondents.BABASAB PATIL 16
  17. 17. BABASAB PATIL 17
  18. 18. Organizational Profile:HDFC (Housing Development Finance Corporation Ltd.) Founded in 1977, HDFC is today the market leader in housing finance in Indiaand extended financial assistance for more than 19 lacks homes. HDFC has 120 offices in India presently. It also has one international office inDubai and service associate in Bahrain, Kuwait, Qatar, Saudi Arabia and sultanate ofOman. HDFC’s asset based amount of over Rs 21450crore. Its financial strength isreflected in highest safety rating of FAAA and MAAA awarded by CRISIL ICRA twoof India’s leading credit rating agencies respectively for the last 7 years consequently.It has a depositor based of over 13 lacks depositors and deposits agent face of over50000. Of the total deposit of 82%are sourced from individual and trust depositors,which demonstrate the tremendous confidence that retails investor, have in thecompany.BABASAB PATIL 18
  19. 19. HDFC promoted companies have emerged to to meet the investor andcustomers needs. HDFC bank for commercial banking HDFC mutual fund of mutual fund ofproducts. HDFC standard life insurance company for life insurance and pension planand product and HDFC Chubb for general insurance product. Being an institution that is strongly committed to the highest standard ofquality and excellence , HDFC has own several accolades in the past few years onesuch award is “Ramakrishna Bajaj National Quality Award” for the year 1999.thisaward was instituted to award reorganization to Indian companies for businessexcellence and quality achievements. HDFC is the only Company so far to receive thisaward in the service category.BABASAB PATIL 19
  20. 20. Standard Life Assurance Company (SLAC) Founded in 1825, Standard life has been at the fore front of the U.K. InsuranceIndustry for 177 years by combining sound financial judgment with integrity andreliability. The largest mutual life company in Europe, it has operations in the U.K,Ireland, Spain, Germany, Austria and Canada with representative offices in Hong Kongand Chaina. One of its most recent successes was the launch of standard life bank on 1stJanuary 1998. The introduction of its innovative mortgage product in January 1999 hadan immediate impact on the U.K. market, accounting for 11% of the all new lendingwithin the first operational year. The current deposite base of the bank is U.S. $ 7.1 Bn. Standard life has total assets of U.S.$ 121 Bn and the new premium income lastyear of U.S.$ 9.2 Bn. Its U.K. investment portfolio accounts for approximately 2% ofall shares listed in the London Stock Exchange. It is one of the few insurance companies in the world to receive AAA ratingfrom two of the leading International Credit Rating Agencies, Moody’s And StandardBABASAB PATIL 20
  21. 21. and Poor’s. The letter described standard life’s ability to meet its claims obligations ofoverwhelming under a variety of economic conditions. Not surprisingly, standard life is rated as one of the strongest companies in theworld, in financial terms. The quality and values standard life brings to this venture are immense. Thecompanies reputation in the U.K. market remains unrivalled. Besides being voted‘Company of the year’ for overall service, for the third consecutive year, standard lifewas recently voted ‘Company of the Decade’ by independent brokers.CommissionsThe rewards of selling insurance are the lucrative.The limits on commission as provided in the Insurance Act 1938 are as under:Type of Policy Commission LimitsImmediate Annuity • 2% of premiumDeferred Annuity • 2% of premium(single premium)Deferred Annuity • 7.5 % of the first year’s premium(regular premium) • 2% of each renewal premiumAll other Cases • A maximum of 40 % of the first(Endowment, Money-back, etc.) year’s premium • A maximum of 7.5 % of the second year’s premium • A maximum of 5 % of the 4th & 5th year’s premium • Thereafter, 5% of the renewalBABASAB PATIL 21
  22. 22. premium • Total commission payable in the first five years cannot exceed 60 % of the annual premium payable on the policy.Role of the HDFC Standard Life Agent-The consultantThe Company’s agent would be a professional sales person & would be given thedesignation of a “consultant” by the Company.The consultant would act as a financial advisor to the customer. He/She would: • Analyze the customer financial requirements • Help them plan their goals & • Recommend appropriate solution, so that the customer is able to meet his /her financial objectives in the most optimum manner. He/She shall provide support to customers on an ongoing basis. The Company would also support the consultant by providing the required training & information so that he/she is able to provide the best service to the customers. Thus, the Company’s Consultant would have a far wider role to play than “the typical insurance agent.”BABASAB PATIL 22
  23. 23. Why should be a consultant with HDFC standard life insurance Company Ltd.? • HDFC standard life are companies with tremendous financial strength as endorsed by credit rating agencies. Both enjoy an excellent reputation in terms of goodwill and efficient customer service. • Sales training imparted to our consultants will be based on the finest international practices. • Promote and effective communication on marketing campaigns, new products. • The customer service process will be highly leveraged on technology, whether it is getting a new policy on the books, paying your commission or setting a claim. • New business will be processed through a local branch network. Our objective is to get policies on our books and disburse. Commission paid to you as quickly as possible.• A range of comparative products backed by quick and efficient service supported by highly trained and customer focused administration of team. The idea is to designe all our process around the customers want, when they want it and where tyeu want it.• Additional recognition for top performers. Published service turnaround times, which will be used to measures our performance.• Customer satisfaction surveys will be conducted proactively and the company will the act on the results.BABASAB PATIL 23
  24. 24. Scope of Insurance Business in India The malhotra committee estimated that the insurance penetration in India is toextent of about 25% of the insurable population. As of 1999-2000, LIC’s insurance premium income was approximatelyrs.32000 crore. It is observed that currently LIC has about 10 crore policies in force,which contribute a premium of about 6% of GDS (Grosss Domestic Savings ) ofhouseholds in India. Based on a report by the confederation of Indian Industries (CII), it isanticipated that this figure of 10 crore policies inforce is likely to double in the nextdecade.by the year 2010, the premium income is expected to account for 18% of theGDS,amounting to Rs. 5,12,000 crore. Number of policies in force 180 180 165 150 160 135 140 120 120 100 90 100 80 60 40 20 0 1 yearsBABASAB PATIL 24
  25. 25. Life premeum as a proportion of GDS 20 19 18 16 15 14 12 12 11 10 9 Series1 8 7 6 6 4 2 0About usBABASAB PATIL 25
  26. 26. HDFC Standard Life Insurance Company Ltd. is one of India’s leading private lifeinsurance companies, which offers a range of individual and group insurance solutions.It is a joint venture between Housing Development Finance Corporation Limited(HDFC Ltd.), India’s leading housing finance institution and The Standard LifeAssurance Company, a leading provider of financial services from the UnitedKingdom. Both the promoters are well known for their ethical dealings and financialstrength and are thus committed to being a long-term player in the life insuranceindustry – all important factors to consider when choosing your insurer.Our key strengths Financial Expertise As a joint venture of leadingfinancial services groups, HDFC Standard Life has the financialexpertise required to manage your long-term investments safelyand efficiently.RangeofSolutionsWe have a range of individual and group solutions, which can be easily customized tospecific needs. Our group solutions have been designed to offer you completeflexibility combined with a low charging structure.TrackRecordsofarOur cumulative premium income, including the first year premiums and renewalpremiums is Rs. 1532.21 Crores Apr-Mar 2005 - 06.We have covered over 1.6 million individuals out of which over 5,00,000 lives havebeen covered through our group business tie-ups.BABASAB PATIL 26
  27. 27. Customer services We at HDFC Standard Life are committed to maintaining the highest level ofcustomer service. Interacting with you via this website is an extension of thiscommitment. We have designed the ‘Customer Service’ section keeping in mind all theinformation you may want to seek regarding procedures such as paying your premium,various policy servicing options, processing a claim and so on. We have also providedrelevant forms that can be downloaded easily for your use.Premium Payment This section gives you all the details that you may require to pay yourpremium and make it a hassle free experience. Along with various premium paymentoptions currently available to you, we have also drawn up a of details that you will needin case you are paying through cheque or demanddraft6 Easy Ways to pay your premium:BABASAB PATIL 27
  28. 28. Lapsation & Revival Your renewal premium should reach us by the due date specified in thepremium reminders. It is always advisable to pay on time so that your valuable policybenefits can continue. However we do understand that there may be times when you may not be ableto pay the renewal premium by the due date. Therefore we allow for some additionalnumber of days from the due date, which is specified in your policy document, to helpyou make your premium payment.In case we still don’t receive your premium payments by the end of the abovementioned period, we would do either one of the following:“Lapse” the policy – if you haven’t paid premiums for the first 3 policy yearsMake the policy “Paid up” – if otherwise Either of these may mean loss/reduction of valuable benefits of your policy.Please refer to your policy document for details.BABASAB PATIL 28
  29. 29. We do, however, allow you to restore the original benefits for a Lapsed or aPaid up policy under certain conditions. Here is what you would need to do:BABASAB PATIL 29
  30. 30. Claims We understand that bereavement can be difficult to deal with, especially when you have to arrange for all the formalities in Case of insurance claims. If you are the claimant you may get in touch with us by emailing us at and we will get back to you with that will be required to process a claim. To help you arrange the documents we have drawn up a list of documents that you may be required to send along with the claims form. This list is for your reference only and the complete list may vary for each claim. Indicative list of documents for Death Claim We at HDFC Standard Life realize that not everyone has the same kind of needs. Deat Keeping this in mind, we have a varied range of Products that you can choose from to suit all h your needs. These will help secure your future as well as the future of your family. Clai Protection Plans m Group Products For m You can protect your family against the loss of your income or the burden of a loan in the event of your unfortunate demise, disability or sickness. These plans offer valuable peace of Orig mind at a small price. inal One-stop shop for employee-benefit solutions HDFC Standard Life has the most comprehensive list of products for progressive Deat Our Protection range includes our Term Assurance Plan & Loan Cover Term Assurance Plan. employers who wish to provide the best and most innovative employee benefit h solutions to their employees. We offer different products for different needs of Cert employers ranging from term insurance plans for pure protection to voluntary plans ifica Investment Plans such as superannuation and leave encashment. te We now offer the following group products to our esteemed corporate clients: BABASAB PATIL 30 Orig inal
  31. 31. Our Single Premium Whole Of Life plan is well suited to meet your long term investment needs. We provide you with attractive long term returns through regular bonuses. Pension Plans Our Pension Plans help you secure your financial independence even after retirement. Our Pension range includes our Personal Pension Plan, Unit Linked Pension, Unit Linked Pension Plus Savings Plans Our Savings Plans offer you flexible options to build savings for your future needs such as buying a dream home or fulfilling your children’s immediate and future needs. Our Savings range includes Endowment Assurance Plan, Unit Linked Endowment, Unit Linked Endowment Plus, Money Back Plan, Children’s Plan, Unit Linked Youngster, Unit Linked Youngster Plus .BABASAB PATIL 31
  32. 32. edContributionSuperannuationGroupLeaveBE ABASAB PATIL 32
  33. 33. Rural ProductsAccording to our research findings, there is keenness among rural customers to investin savings cum protection plan with a term of five years. Especially, if the premiumamount is low and affordable. Keeping this in view, we have designed a specialproduct called Bima Bachat Yojana.We have also designed a product called Super Bachat Yojana wherein the ruralcustomer can save regularly to create a corpus for future needs..BABASAB PATIL 33
  34. 34. Term10yearsMaximumTerm30yearsBABASAB PATIL 34
  35. 35. Development Insurance PlanDevelopment Insurance plan is an insurance plan which provides life cover to members ofa Development Agency for a term of one year. On the death of any member of the groupinsured during the year of cover, a lump sum is paid to that member’s beneficiaries to helpmeet some of the immediate financial needs following their loss.BABASAB PATIL 35
  36. 36. The role of the Development AgencyDue to the nature of the groups covered, HDFC Standard Life will be passing certainadministrative tasks onto the Development Agency. By passing on these tasks the premiumcharged can be lower. These tasks would include:informationuptodateBABASAB PATIL 36
  37. 37. Tax BenefitsBABASAB PATIL 37
  38. 38. INCOME TAXSECTIONGROSSANNUALSALARYHOW MUCHTAX CAN YOUSAVE?HDFCSTANDARDLIFE PLANSSec. 80CAcross All incomeSlabs.Up to Rs. 33,660saved oninvestment ofRs. 1, 00,000.All the lifeinsurance plans.Sec. 80 CCCAcross all incomeslabs.Up to Rs. 33,660 BABASAB PATILsaved on 38
  39. 39. Knowledge CentreOur Knowledge Centre is your personal resource for information that can help youunderstand the basics of insurance and help you make an informed decision aboutbuying a policy.This section includes details on insurance terms and concepts, helps you analyze plansfor your various needs and lends meaning to some of the insurance jargon that you mayencounter.BABASAB PATIL 39
  40. 40. BABASAB PATIL 40
  41. 41. HDFC Standard Life Insurance Company Ltd. is one of India’s leading private lifeinsurance companies, which offers a range of individual and group insurance solutions.It is a joint venture between Housing Development Finance Corporation Limited(HDFC Ltd.), India’s leading housing finance institution and The Standard LifeAssurance Company, a leading provider of financial services from the UnitedKingdom. Both the promoters are well known for their ethical dealings and financialstrength and are thus committed to being a long-term player in the life insuranceindustry – all important factors to consider when choosing your insurer.Our key strengthsFinancialExpertiseAs a joint venture of leading financial services groups, HDFC Standard Life has thefinancial expertise required to manage your long-term investments safely andefficiently.RangeofSolutionsWe have a range of individual and group solutions, which can be easily customized tospecific needs. Our group solutions have been designed to offer you completeflexibility combined with a low charging structure.TrackRecordsofarour cumulative premium income, including the first year premiums and renewalpremiums is Rs. 1532.21 Crores Apr-Mar 2005 - 06.We have covered over 1.6 million individuals out of which over 5,00,000 lives havebeen covered through our group business tie-ups.BABASAB PATIL 41
  42. 42. carriersHDFCs finest investment is in its Human Resources. It draws its personnel frommany disciplines. They are the building blocks on which the companys performance& productivity is based". Mr. H T Parekh Founder-Chairman, HDFC Ltd.We welcome you to the family of HDFC Standard Life Insurance Company Ltd.This section will help you identify various career opportunities with us, give you aninsight into our work culture and also our various learning and development initiativesamongst host of other information.HDFC Standard Life is one of the leading life insurance companies having a trackrecord of declaring bonuses every year since inception. We attribute this success to ourpeople, who are our most important asset. We believe they are a key facet of thecompany and it is their contribution that has enabled us to achieve our current status.Since they deserve the best, our efforts have been to provide them with the bestenvironment, best culture and best development opportunities possible.BABASAB PATIL 42
  43. 43. Join the Winning Team at HDFC SLIn our quest to be a competitive player in the insurance space, we are keen topartner with talented, high performing people. We pride our self for a richtalent base that can successfully propel the company to even greater heights inan increasingly competitive platform. So if you think, you have it in you toemerge victorious in this challenging environment, join us. You can in orderto send us your CV. BABASAB PATIL 43
  44. 44. Medical Group Companies Some of our valued bancassurance partners. BABASAB PATIL 44
  45. 45. NewsBABASAB PATIL 45
  46. 46. lastoneyear".BABASAB PATIL 46
  47. 47. Accident Benefit An add-on with a life policy. It compensates a policyholder in the event of death or injury by accident Annuity An investment option that makes a series of regular payments to an individual in exchange for a premium or a series of premia. Appreciate To grow in value Asset Everything owned or due to a person Asset allocation How your investments are spread across various asset classes Bond It is like an IOU. By buying a bond you loan money to a company, a municipality, state or the Central Government Bonus The amount paid as return in a ‘with-profit’ policy. The bonus, expressed as a percentage of the sum assured, is generally declared every year. The amount is linked to the profits earned by the insurer. Depending on the time of withdrawal, there are two kinds of bonuses – reversionary and cash. A reversionary bonus can be encashed only on maturity of the policy; a cash bonus can be withdrawn when declared Budget It is a tool used to monitor and control expenditures and purchases. Capital gainsBABASAB PATIL 47
  48. 48. Profit earned from the sale of stocks, mutual fund units and real estate. Long-term capital gains arise from assets owned for more than a year while short-term capital gains are made from assets owned for less than a year. Compound Interest Interest computed on principal plus interest accrued during the previous periods of the investment Corpus The amount of money available with a scheme for investing. If already invested, the corpus is the current value of the scheme’s portfolio. Cost averaging A strategy that involves investing a fixed amount of money in an asset class like equity, so that the average cost of acquiring the asset in the long-term is much lower than that in the short-term. Cover Another word for insurance; it also refers to the amount of insurance. Critical illness rider A rider that provides a policyholder financial protection in the event of a critical illness Death benefit The amount payable to the nominee on death of the policyholder. The amount paid is the sum assured plus benefits applicable (if any) less outstanding loans. Declining term cover A type of pure life protection insurance policy where the premia remain the same while the life coverage keeps declining. They are typically used to cover the life of a person with a pending loan repayment, like home loan. Deferred annuity An annuity plan where the first annuity payment becomes payable after a chosen period that exceeds one year.BABASAB PATIL 48
  49. 49. Discretionary expenses These are expenses like entertainment, dining out and non-compulsory travel that you can reduce at will. Disability / dismemberment benefit rider A rider that provides for additional cover in the event of disability, or dismemberment, of the policy holder due to an accident Dividends Payments made by companies and mutual funds to shareholders and unit-holders, respectively, from the income generated by it. Down payment The money that a home buyer has to contribute, often at least 15 per cent of the value of the house, when he is taking a home loan. Dividend yield The percentage of dividend paid on a share to the value of the share. Emergency fund The money, in the form of liquid investments in bank savings accounts, two-in-one accounts and liquid funds, you need, to take care of emergencies like a job loss that your insurance policies wouldn’t cover Endowment plans An insurance plan that provides a policyholder risk cover and some return on investment. Usually suitable for the risk-averse Effective rate of interest The true rate as against the nominal rate, which may be incorrect. Estate All assets of a person, both financial-like stocks, bonds, mutual funds and fixed deposits and physical-like a house and gold that can be passed on to his heirs. Estate planning A financial plan to ensure the transfer of all your assets-both financial, such asBABASAB PATIL 49
  50. 50. fixed deposits and stocks and physical, such as home, after your death to your heirs without any delay or loss. Exclusions Risks and circumstances not covered by a policy. No claim will be entertained in case of losses arising out of such situations ELSS (equity-linked savings schemes) Diversified equity funds that additionally offer a tax deduction under Section 80C on investments up to Rs.1 lack. EMI (equated monthly installment) A borrower must make this payment each month towards repayment of interest and principal of a loan taken by him. Equity The actual ownership interest in a specific asset or group of assets Financial planning It covers the essential elements of a person’s financial affairs and is aimed at achieving a person’s financial goals. Fixed deposit Funds placed on deposit in a bank, company or post office at a fixed rate of interest. Fixed-income investment Any investment that provides a stated percentage of value, say 6 per cent, on the invested amount. Fixed rate loan Interest rate charged on a loan that remains fixed during the tenure of the loan Floating rate loan Interest rate charged on a loan benchmarked to a particular lending rate. The rate gets adjusted during the tenure of the loan as the benchmark interest rate changes.BABASAB PATIL 50
  51. 51. Group Insurance An insurance policy taken out by employers to provide life cover to their employees. Usually the cheapest form of insurance. Guaranteed additions The amount paid as returns in assured-return insurance plans. Guaranteed additions are expressed as a percentage of the sum assured, with the amount payable being stated by the insurer at the outset. Hospital cash benefit rider A rider that provides cover for hospitalization Immediate annuity An annuity that starts payments immediately after, or soon after, the first premium is paid Index fund A scheme whose portfolio mirrors the progress of a particular index, both in terms of composition and individual stock weight ages. It’s a passive investment option, as a fund’s performance will mimic the index concerned, barring a minor tracking error. Insured The policyholder Insurer The insurance company Investments Assets like fixed deposits, post office savings, bonds and stocks that are acquired for the purpose of earning a return Investment risks The risks that your investments face. These include the risk of interest rate fluctuations impacting your debt investments or the prices of equities going down.BABASAB PATIL 51
  52. 52. Level term cover rider A rider that increases the life cover in non-term plans, up to a maximum of the sum assured on the base policy. The rider offers death benefit along, and serves the need for extra protection for a specified time period. Liabilities Monies owed, debt and other financial obligations of a person Life annuity An annuity that makes regular income payments till the policyholder is alive. On the policyholder’s death, all income payments cease and there are no beneficiary benefits. Liquidity The quality of assets that can be easily and quickly converted into cash without any, or significant, loss in value. Loyalty additions Additional benefits (other than guaranteed additions/bonus) paid to policyholders on maturity of certain investment-based insurance plans for staying on through its term. Loyalty additions are paid as a percentage of the sum assured, with the amount depending on the insurer’s financial performance. Lock-in period The period of time for which investments made in an investment option cannot be withdrawn. Marginal tax rate The highest tax rate applicable to a person for paying income tax. Market value The monetary value an asset will fetch if sold in the market today. Maturity date The date on which a policy term or fixed-income investment like fixed deposit orBABASAB PATIL 52
  53. 53. bond comes to an end. Money-back plans A variant of endowment plans in which survival benefits are disbursed through the policy term, rather than in a lump sum at the end. Net asset value (NAV) The simplest measure of how a scheme is performing, it tells how much each unit of it is worth at any point in time. A scheme’s NAV is its net assets (the market value of the financial securities it owns minus whatever it owes) divided by the number of units it has issued. Nominee The person(s) nominated by the policyholder to receive the policy benefits in the event of his death. Participative plans See ‘with-profit’ policy Pension Plan Investment products offered by insurance companies and mutual funds that required the investor to make defined contributions over regular periods, mostly every year. The contributions are invested according to a pre-decided investment plan. At retirement, the accumulation is paid out through regular pay-out options. Periodic payment investments Investment options that have payouts in fixed intervals. For example, money-back life insurance policies. Permanent partial disability Permanent loss of any body part, one eye, one limb or one finger or a toe, or injuries that render the insured in capable of earning an income from the date of theBABASAB PATIL 53
  54. 54. accident onwards from any work, occupation or profession. While the loss of the body part may be permanent, its effects on the insured’s life are partial. Permanent total disability Permanent loss of use of any two limbs, or permanent and complete loss of sight in both eyes and any other injury that renders the insured incapable of earning an income. Cover this risk to secure your wealth. Policy The legal document issued by an insurance company to a policyholder that states the terms and conditions of an insurance contract. Policyholder The person who buys an insurance policy. Also referred to as the ‘insured’. Policy term The period for which an insurance policy provides cover Post office schemes Also known as Small Savings schemes, they are offered at post offices and carry the highest returns among fixed income instruments. Government backing makes these instruments like Public Provident Fund (PPF), National Savings Certificate (NSC), Kisan Vikas Patra (KVP) and Post Office Monthly Income Scheme (POMIS) risk-free Pre-payment Partial or full repayment of the loan before the end of the tenure. Premium The amount paid by the insured to the insurer to buy cover Recurring deposit This is offered both in post office and banks where you are required to contribute a fixed amount ever month. It is a great tool for making small and regular savings. Rest The frequency at which interest is calculated on the outstanding loan balance. TheBABASAB PATIL 54
  55. 55. more regularly the interest is calculated on the outstanding loan amount, the lesser the interest costs and cheaper the loan. For example, monthly rests would make a loan with the same rate cheaper than a quarterly rest. Revolving credit A pre-established credit line, typically in a credit card, against which a person may borrow to make purchases. Riders Additional covers that can be added to a life policy, for a cost Small savings See post office schemes Sum assured The amount of cover taken under a life insurance policy, it is the minimum amount that will be paid on death of the policyholder during the policy term. Surrender value The amount payable by the insurer to the owner of an investment-based plan in case he opts to terminate the policy after three years (the mandatory lock-in period) but before its maturity date. The surrender value will be the premia paid till date minus surrender charges and any outstanding loans due. Survival benefits The amount payable to a policyholder under an investment-based plan if he survives the policy term. Typically, it is the sum assured plus returns (guaranteed additions / bonus) accrued. Temporary total disability An injury that results from an accident and renders a person immobile or affects his earning capacity temporarily. For instance, a fracture in the arm or leg that keeps you from work: you may be mobile but the injury may prevent you from working.BABASAB PATIL 55
  56. 56. Term plans A plan that provides life cover for a specified period of time, but no return on the premia paid Terminal bonus A one-time bonus paid on maturity of a with-profit plan Vesting date Generally used in the context of pension plans and children’s plans offered by life insurance companies. It is a date signifying a milestone in a policy. In pension plans, it is the date from which the policyholder starts receiving pension. In children’s plans, it is the date from which a child becomes the owner of a policy taken out in his name (generally, around his 18th birthday). Waiver of premium rider A rider that waives the premia payable on the base policy and other riders in certain circumstances mostly related to death, disability or injury. An important feature especially for investment products such as children’s policies. Wealth The difference between the values of what you own (assets) and what you owe (liabilities). Will A document that designates the assets of a person-both financial and physical- to various family members and other heirs. With-profit policy An insurance plan in which the policyholder gets a share of the insurer’s profits ( in the form of guaranteed additions / bonus). Along with the sum assured. Without-profit policy An insurance plan in which the policyholder does not get any share of the insurer’sBABASAB PATIL 56
  57. 57. profits Whole-life plans Class of life insurance policies that provide cover through your lifetime. BOARD OF DIRECTORS Mr.Deepak S Parekh: Is the chairmen of the company. He is also the Executive chairmen of Housing Development Finance Corporation Limited (HDFC Limited). He joined HDFC Limited in a senior management posision in 1978. he was inducted as a whole time director of HDFC Limited in 1985 and was appointed as its Executive Chairmen in 1993. He is the Chief Executive Officer of HDFC Limited. Mr. Parekh is the 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 Ltd. He joined HDFC Ltd in 1981 andBABASAB PATIL 57
  58. 58. become a 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 appointed as the Group Chief Executive of the Standard Life Investment Limited. Mr. Alexander M Crombie is the Fellow of the Faculty of Actuaries in Scotland. Ms. Marcia D Campbell: Is currently Group Operations Director in the Standard Life Assurance Company and is responsible for Group Operations, Asia Pacific Development Strategy & Planning Corporate Responsibilities and Shared Service Centre. Ms. Marcia D Campbell joined the Board of Directors in November 2005. Mr. Keith N Skeoch: Is currently the Chief Executive of the Standard Life Investment Limited and is responsible for overseeing Investment Process and 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,BABASAB PATIL 58
  59. 59. Director of Control 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. Keith N Skeoch joined the Board of the Directors in November 2005. Mr. G N Bajpai: Was the former chairman of the Life Assurance company of India and Securities of Exchange Board of India. Mr. G N Bajpai retired from Life Assurance company of India with more than 3 decades of experience and further served as SEBI as its Chairmen of 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. Gautam R Divan was the chairmen and managing committee Member of Midsnell Group international, an international Association of Independent Accounting Firms and has authored several papers of professional interest.BABASAB PATIL 59
  60. 60. Mr. Ranjan Pant Is a global Management Consultant advising CEO/Board of Strategy andChange Management. Mr. Ranjan Pant, until 2002 was a partner & Vice President ata Bain & Company, Inc.,Boston,where he led the worldwide Utility Practice. He wasalso director, Corporate Business Development at General Electric headquarters inFairfield, 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 IndiaLtd. Mr. Ravi Narain was the core team to set up the securities & Exchange Board ofIndia (SEBI) and is also associated with various committees of SEBI and the ReserveBank Of India (RBI). Mr. Deepak M Satwlekar Is the Managing Director and CEO of the Company since November,2000. Prior to this, he was the Managing Director of the HDFC Ltd since 1993. Mr.Deepak M Satwlekar obtained a Bachelors Degree in Technology from the IndianBABASAB PATIL 60
  61. 61. Institute of Technology, Bombay and a Master Degree in Business Administration fromThe American University, Washington DC. 1.what is your gender?. 45 42 40 35 30 25 Series1 20 15 8 10 5 0 a b The above graph shows that the sex wise classification of the respondents. • In total 50 respondents 42% of respondents are males. • And remaining 8% of respondents are females.BABASAB PATIL 61
  62. 62. 2.What is your age?. 25 23 20 19 15 10 6 5 2 0 a b c d Series1 The above graph shows that the age wise classification of the respondents. • 2% of respondents are coming under the age between 15 to 20 years. • 21% of respondents are coming under the age between 20 to 30 years. • 23% of respondents are coming under the age between 30 to 40 years. • And remaining 6% of respondents are coming under the age of 40 years and above.BABASAB PATIL 62
  63. 63. 3. What is your qualification?. 5 4 a b c 18 21 d The above graph shows that the 4% of respondents have completed SSLC, 21%of respondents have completed PUC, 18% of respondents have completed degree and15% of respondents have completed master degree.BABASAB PATIL 63
  64. 64. 4. Are you living in your own house?. 45 39 40 35 30 25 Series1 20 15 10 8 5 0 a b The above graph shows that the numbers of respondents are living in their own house. • 39%of respondents have their own house. • Remaining 8% of respondents do not have their own house.BABASAB PATIL 64
  65. 65. 5. Are you using the following?. a b c d 30 22 20 14 10 10 2 0 a b c d The above graph shows that the number of respondents is using the following luxuries goods. • 14 % respondents are using Car. • 10% respondents are using Colour TV. • 22% respondents are using Bikes. • 2% respondents are using Refrigerator.BABASAB PATIL 65
  66. 66. 6. What is your occupation?. 4 0 15 a b c d 19 The above graph shows that the respondents occupation. • 15% of respondents are job holders. • 19% of respondents are Business mans. • 4% of respondents are Professionals.BABASAB PATIL 66
  67. 67. 7. What is your monthly income?. 30 26 25 20 a 16 15 b c 10 d 5 3 3 0 a b c d The above graph shows that the monthly income of the respondents. In the survey it was found that the. • 3% of respondents are come under below Rs.5000 per month. • 26% of respondents are coming under Rs.5000 to 10,000 per month. • 16% of respondents are coming under 10,000 to 15,000 per month. • Only 3% of respondents are coming under Rs.15, 000 & above.BABASAB PATIL 67
  68. 68. 8.Are you aware of any thing about HDFC Standard Life Insurance?. 30 26 25 19 20 a 15 b 10 5 0 a b The above graph shows that the 19% of respondents aware about HDFCStandard Life Insurance and 26% of respondents unaware about HDFC Standard LifeInsurance.BABASAB PATIL 68
  69. 69. 9.If yes how do you come to know?. 3 0 a 6 2 b c 1 d e 10 f The above graph shows that the number of respondents are come to know about this HDFC Standard Life Insurance Plans and Policies. • Only 6% of respondents are come to know from the executives. • 10% of respondents are come to know from their friends. • 1% of respondents are come to know from Television. • 2% of respondents are come to know from local NEWS Papers. • 3% of respondents are come to know from Pamphlets.BABASAB PATIL 69
  70. 70. 10. Do you want to know more about HDFC?. 40 30 39 a 20 b 10 10 0 a b The above graph shows that the number of respondents wants to know more about HDFC Standard Life Insurance Plans and Policies. • 39% of respondents are wants to know more about HDFC Standard Life Insurance Plans and Policies. • 10% of respondents don’t want to know.BABASAB PATIL 70
  71. 71. 11. Do you want to invest your money in the HDFC Standard Life Insurance?. 30 26 25 20 20 a 15 b 10 5 0 a b The above graph shows that the numbers of respondents are interested to invest their money in HDFC Standard Life Insurance. • 26% of respondents are interested to invest their money in HDFC Standard Life Insurance. • 20% of respondents are not interested to invest their money in HDFC Standard Life Insurance.BABASAB PATIL 71
  72. 72. 12. If yes in which plan you want to invest?. 10 5 9 8 7 6 Series1 S1 0 a b c d The above graph shows that the numbers of respondents are interested to invest their money in the following plans in HDFC Standard Life Insurance. • 7% of respondents are interested to invest their money in the “Investment Plans”. • 9% of respondents are interested to invest their money in the “Saving Plans”.BABASAB PATIL 72
  73. 73. • 8% of respondents are interested to invest their money in the “Pension Plans”. 13. In which company you have invested your money?. a b c d The above graph shows that the numbers of respondents are invested their money in the following companies. • 17% of respondents are invested their money in the “LIC”. • 9% of respondents are invested their money in the “HDFC”. • 8% of respondents are invested their money in the “ICICI”. • 2% of respondents are invested their money in the “Bajaj Allianz”.BABASAB PATIL 73
  74. 74. 14. Your saving consist of?. 30 27 25 a 20 b 15 14 c d 10 e 5 3 f 2 1 0 0 a b c d e f The above graph shows that the numbers of respondent’s saving consist of in the following companies. • 2% of respondent’s consist their savings in the Post Office. • 14% of respondent’s consist their savings in the Bank F.D. • 1% of respondent’s consist their savings in the Shares. • 3% of respondent’s consist their savings in the Land and Building. • 27% of respondent’s consist their savings in the Life Insurance.BABASAB PATIL 74
  75. 75. Findings • In 50 respondents presently 46% of respondents age between 30 to 40 years.this indicates that they have ability to take financial investment decisions. So it is suggests that the company catch such kind of respondents. • In the survey it was found that more number of respondents i.e.36% of respondents have completed graduation. This indicates that the respondents in the Dharwad city are educated and they are easily understood what are the benefits and importance of the policies. • In this survey it was found that 44% of respondents have their own bikes and 28% of respondents have cars. This indicates that these financially sound and they can easily understand the importance of policies and they can invest thhier money in that. • In this survey it was found that 52% of the respondents monthly income is in between Rs.5000 to Rs.10000. such kind of respondents are wants save money or invest money which will help for their children’s in future. • It was found that 52% of respondents in Dharwad city are unaware about the HDFC standard Life Insurance. This indicates the advertisements which are using for creating awareness in Dharwad is not effective so it is suggests the company to use more effective ad camps to create awareness.BABASAB PATIL 75
  76. 76. • In Dharwad city 78% of respondents wants to know more about HDFCs policies so it is suggest that the company should give ads in local NEWS Paper and also give advertisement in local cable TV.Dharwad city is aware or knows about this scheme. • In this survey it was found that 52% of respondents are wanted to invest their money in HDFC Life Insurance Policy. These respondents are potential customer for the organization.BABASAB PATIL 76
  77. 77. Conclusion From the survey analysis it was found that in Dharwad City more than half ofrespondents are unaware about HDFC Standard Life Insurance Plans and Policies. In this survey it was also found that more number of respondents haveperception in that they are interested to invest their money in HDFC Standard LifeInsurance In short many respondents are still not decided to in which company theyhave to invest their money. So they have opportunity in Dharwad city and the companyhas an opportunity so it suggests that they catch the such customers to tap the market.BABASAB PATIL 77
  78. 78. Recommendations 1. More number of respondents have their monthly income below Rs.5000. And such kind of population wants to make policies in HDFC Standard Life Insurance. More number of the respondents are come to know about this scheme from TV and Friends. So it suggests that they should use other sources of advertisement like Big Eye Catching Hoardings and Road shows etc. 2. Here it can recommended that the company should provide bonus for the potential financial consultant and Company almost all plans and policies have duration period of minimum 10 years for this long duration people are not interested to invest their money so the company should reduce their duration period.BABASAB PATIL 78
  79. 79. Bibliography. • MARKETING RESEARCH BY DONALD S. TULL & DELL HAWKINS. • PRINCIPLE OF MARKETING BY PHILLIP KOTLER & ARMSTRONG. • NEWSPAPER AND MAGZINES • COMPANY MANUALS.BABASAB PATIL 79
  80. 80. Questionnaire. This is an anonymous surveyDear respondent. 1. What is your gender? Male female 2. What is your age? 15-20 20-30 30-40 40 and above 3. What is your qualification? SSLC PUC Degree Masters 4. Are you living in your own house? Yes No 5. Are you using the following? Car Colour TV Bike Refrigerator 6. What is your Occupation? Job Holder Businessman Professional Others 7. What is your monthly income? Below 5000 5000-10,000 10,000-15,000 Above 15,000 8. Are you aware of any thing about HDFC Standard Life Insurance? Yes NoBABASAB PATIL 80
  81. 81. (If No skip to the question no. 10) 9. If yes how do you come to know? Executive Friends TV NEWS Paper Pamphlet Others 10. Do you want to know more about HDFC Plans? Yes No 11. Do you want to invest your money in the HDFC standard Life Insurance? Yes No 12. If yes in which plans you want to invest?. Investment Plans Saving Plans Pension Plans Others 13. In which company you have invested your money? a) LIC b) HDFC c) ICICI d) Bajaj Allianz 14. Your saving consists of. a) Post office b) Bank F.D c) Shares d) Land / Building e) Life insurance f) GoldBABASAB PATIL 81
  82. 82. S.N0. 1 2 3 4 5 6 7 8 9 10 11 12 13 141 a b a a c b b b a a d a e2 a c c a a a c a b a b b c3 a c c a c b c b a a d a e4 a c b a b b a a c a b a b5 a c c a b b b a a c c e6 a d c a c b b a b b b d7 a b b b b a a b a a b b8 a a b c c b b b a b d b9 b b b b c b b b a b a e10 a c b c a b b c a a b b11 a c c a a b d a e a b a e12 a c c a c b b a a a b b e13 a b a a c b a b a b b14 a c b a c b c a b a b b e15 a d c a a b c a e b b c e16 a b b b b a b b a b c b17 a c b a c b b a b a a a a e18 a d c a a b c a a a b b e19 b b b a a a c b a a a a e20 a b c a a b d a b a b b b e21 a c d a a a c a a a a d c e22 a b b a c b b b a a b b23 a b b a d b b b a a b a e24 a b b a c a c a a a a c b e25 a b c a a b c a a a b b e26 a c b b c b b b a a d a e27 a c c a c c c b a a b d28 b b c a c c b b b b b e29 a b a a b b b a b a a a d30 a d d a a a d a d a a c a e31 a c a a b b b b a a b b32 a c c a c b b a b a a a b33 a d d a c a c a b a a c a e34 a d d a c a c a b a a c a e35 a c d b c c b a e a a a b36 b b b a b a b b b b a37 a c a b b b b b b b b38 a a b c a a b b b a a a b39 a a c c b c a b b b b a40 a d b a c a c b a a a a e41 a c b a a c b b b b a c a e42 b b c c a a a c b a a d c43 a c b a a a c a d a a c c44 b c c a d a b b a a b a e45 a c d a b a c b a a b a eBABASAB PATIL 82
  83. 83. 46 a d b a c b c b a a c d47 a b b a c b b b b b b c b48 a a b a b b b b b b a49 a b b b c b b b a a c c e50 b c c a c b b b a a c c eBABASAB PATIL 83

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