Recruitment financial advisors
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  • 1. SUMMER TRAINING PROJECT REPORT ON Recruitment of Financial Advisors In Reliance Life Insurance Towardspartialfulfilmentof MasterofBusinessAdministration(MBA) (AffiliatedtoU.P.TechnicalUniversity,Lucknow) Guidedby Submitted by Mrs.RUCHI AGNIHOTRI RINKAL Session2013-14 DepartmentofManagement BabuBanarasiDas NationalInstituteofTechnology&Management Sector1,AkhileshDasnagar,FaizabadRoad,Lucknow(U.P.),India
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  • 3. 2 ACKNOWLEDGEMENT I am thankful to management of Reliance Life Insurance company limited for granting the permissions, corporation and valuable information for preparation of this project. No words are enough to thank Mrs,Ruchi Agnihotri who not only inspired me to work on this project but also guide me to prepare it. In spite of heavy responsibilities and busy schedule, she always managed time to provide proper guidance. I am also thankful to Mr, Dhiraj Gupta(Manager) who guide, encourage and help me to do this project. Last but not the least; I would like to say that all my friends and well-wishers for giving me constant support and valuable suggestions to translate my ideas into reality. Rinkal
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  • 5. 4 PREFACE
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  • 7. 6 Executive Summary Identifying different profiles of the people and giving them an additional source of income to join Reliance Life Insurance as a Financial Advisor. A market survey was done on life insurance companies. Different questions regarding the companies training program for advisor, top 5usp‘s, training centers etc. were asked. The areas covered up in this survey were Civil lines and .Azad nagar. The report contains details of different life insurance companies, which are in healthy competition of Reliance Life Insurance. In today‘s era, the insurance industry is one of the most booming sectors. India itself has population of 1-12 billion out of which roughly 33.2 % people are insured. This clearly shows that most of the people are not insured just because they don‘t know much about insurance. Most people have some common queries about life insurance.
  • 8. 7 CONTENTS  Acknowledgement  Introduction  Preface  Company Profile  Organisation chart  Executive Summary  Products and Policies  Product portfolio  Introduction of channel development and recruitment  Aims and Objective  Specific information of the Organisation  Objective of the study  Research Methodology  Competitive analysis  Findings  SWOT Analysis  Suggestion and Recommendations  Limitations  Questionnaire  Bibliography
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  • 10. 9 What is life insurance? A policy that will pay a specified sum of beneficiaries upon the death of insured person. An agreement that guarantees the payment of stated amount monetary benefits upon the death of the insured person. Why insurance? Insurance is the protection of life and assets against unforeseen circumstances. Whether it is general accident policy, a Mediclaim policy or a pension policy, an insurance policy helps you to scope with uncertainty and insecurity. Ever though about why you should take an insurance policy. For one, it helps you to hedge risks against unforeseen circumstances and save more. It that‘s not all, it is:  Superior to an ordinary savings plan as it provides full protection against the risk of death.  Encourages and forces compulsory savings unlike other savings instruments, wherein the saved money can be easily withdrawn.  Provides loan to tie over a temporary difficult phase and is also acceptable as security for a commercial loan.
  • 11. 10  Offers tax relief to policyholder.  Hedges risk against uncertainity.  For a policy taken under the MWP Act 1874, (Married Women‘s Property Act), a trust is created for wife and children as beneficiaries.  Based on the concept of sharing of losses, the society will benefit as catastrophic losses are spread globally. Who is an Insurance advisor? An advisor is the representative of an insurance company who sells different policies or product to its clients. They have to do financial planning of his clients and sell policies to them. They are paid on the commission basis Who can buy a life insurance policy? Any person above 18 years of age, who is eligible to enter into a valid contract, can go for an insurance policy. Subject to certain conditions, a policy can be taken on the life of a spouse or children.
  • 12. 11 How is a life insurance policy useful? Planning for the financial consequences of a premature death is an essential part of every financial plan. Generally, the consequences are simply too large to ignore and cannot be totally covered with your own resources. Life insurance is nothing but contract with an insurance company under which is insured (purchaser) pays a premium in exchange for coverage of specified issues. Life insurance is protecting your family against the risk of premature death of you (or your spouse). Life insurance planning should consider your family‘s short term needs (for example, medical expenses) and long-term needs (for example, replacing your income), In course of our life w are accosted by risk-that of failing health, financial losses, accidents and so on. Insurance is mean by which life‘s uncertainties are addressed in financial terms. It offers a monetary compensation against those losses. Insurance is considered more as a hedging mechanism rather than a true investment avenue. Life insurance, in particular is essentially acknowledged as mechanism that eliminates risk- substituting certainty for uncertainty primarily by transferring risk from the insured to the insurer.
  • 13. 12 Is life insurance a saving instrument? Life insurance is mainly considered as a saving instrument rather than an investment avenue as it promotes compulsory savings besides reducing tax burden on the policyholder and protects the family of policyholder in the event of unforeseen happening. It is the only saving instrument, which covers risk besides giving tax concession both at entry (premium paid) and exit point. The section 10(D) of the income tax act totally exempts payment of tax on any amount received as bonus against life insurances policies. Types of Insurance Plans Traditional or Unit Linked Broadly, insurance plans can be distinctly divided into ULIPs and traditional plans. A brief detail of both segments: Unit Linked Insurance Product: ULIPs have gained high acceptance due to attractive features they offer. These include:  Flexibility  Flexibility to choose Sum Assured.
  • 14. 13  Flexibility to choose premium amount.  Option to change level of Premium /Sum Assured even after the plan has started.  Flexibility to change asset allocation by switching between funds  Transparency  Charges in the plan & net amount invested are known to the customer  Convenience of tracking one‘s investment performance on a daily basis.  Liquidity  Option to withdraw money after few years (comfort required in case of exigency)  Low minimum tenure.  Partial / Systematic withdrawal allowed  Fund Options  A choice of funds (ranging from equity, debt, cash or a combination)  Option to choose your fund mix based on desired asset allocation
  • 15. 14 Traditional Plans: These are the oldest types of plans available. These plans cater to customers with a low risk appetite. Some of the common features of traditional plans are:  Steady Investment  Major chunk of investible funds are in debt instruments  Steady and almost assured returns over the long term  Features  Death benefit is Sum Assured + guaranteed & vested bonus  Helps in asset creation as they are for a long tenure  Premium to Sum Assured ratios are fixed for each plan and age.  Generally withdrawals are not allowed before maturity Tax Benefits on Insurance and Pension Life insurance and retirement plans are effective ways of saving taxes. The tax breaks that are available under our various insurance and pension policies are described below:
  • 16. 15 1. Life insurance plans of Reliance Life Insurance are eligible for deduction under Sec. 80C 2. Pension plans of Reliance Life Insurance are eligible for a deduction under Sec. 80CCC. 3. Health insurance plans/riders of Reliance Life Insurance are eligible for deduction under Sec. 80D 4. The proceeds or withdrawals of life insurance policies of Reliance Life Insurance are exempt under Sec 10(10D), subject to norms prescribed in that section.
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  • 18. 17 ABOUT RELIANCE GROUP Reliance capital The Reliance Group founded by Dhirubhai H. Ambani (1932-2002) is India's largest business house with total revenues of over Rs 99,000 crore (US$ 22.6 billion). The Group's activities span exploration and production (E&P) of oil and gas, refining and marketing, petrochemicals (polyester, polymers, and intermediates), textiles, financial services and insurance, power, telecom and infocom initiatives. The Group exports its products to more than 100 countries the world over. Reliance emerged as India's Most Admired Business House, for the third successive year in a TNS Mode survey for 2003. Reliance Group revenue is equivalent to about 3.5% of India's GDP. The Group contributes nearly 10% of the country's indirect tax revenues and over 6% of India's exports. Reliance is trusted by an investor family of over 3.1 million. One out of every four investors in India is a Reliance shareholder. With globally competitive capital and operating cost positions, Reliance Group dominates the rapidly growing Indian market deriving over 80% of its revenues from the domestic market. There was a split in Reliance group in 2005 and it was broken into two separate companies:
  • 19. 18 Reliance Industries Limited Reliance Anil Dhirubhai Ambani Group (ADA Group) Reliance Capital Ltd, a part of the Reliance Anil DhirubhaiAmbani Group, is one of India's leading and most valuable financial services companies in the private sector. The company has interests in asset management and mutual fund; life and general insurance; consumer finance and industrial finance; stock broking; depository services; private equity and proprietary investments; exchanges, asset reconstruction; distribution of financial products and other activities in financial services. They have operations in Singapore, Malaysia, the United Kingdom, and the United Arab Emirates. Reliance Capital Ltd was incorporated in year 1986 at Ahmedabad in Gujarat with the name Reliance Capital & Finance Trust Ltd. The company entered the capital market with the maiden issue in the year 1990. Initially, the company engaged in steady annuity yielding businesses such as leasing, bill discounting, and inter-corporate deposits. In the year 1993, the company diversified their business in the areas of portfolio investment, lending against securities, custodial services, money market operations, project finance advisory services, and investment banking. In January 5, 1995, the company changed their name from Reliance Capital & Finance Trust Ltd to Reliance Capital Ltd. In December 1998, they obtained their registration as a Non-banking Finance Company (NBFC). During the year 2001-02, the company took a new strategic initiative by
  • 20. 19 entering into the life insurance and general insurance business. They made investments in Reliance General Insurance Company Ltd and Reliance Life Insurance Company Ltd. . Reliance Mutual Fund launched 6 new schemes and they increased the number of branches from 81 to 123. In the Reliance Life Insurance, the distribution network was increased to 217 branches as against 153 branches. Also, Reliance Life Insurance Company Ltd secured the approval of the Insurance Regulatory & Development Authority (IRDA) to start an additional 130 branches. Reliance Asset Management (Singapore) Pte Ltd, a wholly owned subsidiary of company received approval from the SEBI and the Monetary Authority of Singapore to commence operations.
  • 21. 20 The Reliance Anil Dhirubhai Ambani Group works in: Reliance Communication Reliance Energy Reliance Capital Reliance Mutual Fund Reliance Life Insurance Reliance General Insurance Reliance Health Reliance Entertainment Reliance Infrastructure
  • 22. 21 Reliance life insurance Reliance Life Insurance Company (RLIC) is amongst the leading private sector life insurance companies in terms of new business premium with a market share of 5% of the private sector life insurance industry. The company has over 7 million policy holders with a strong distribution network of close to 1,230 branches with over 124,000 agents as of March 31, 2013. Reliance Life offers life insurance products targeted at individuals and groups, catering to four distinct segments: protection, children, retirement and investment plans. As of March 31, 2013, the Total Premium (net of re-insurance) was Rs. 4,015 crores, whereas new business premium stood at Rs. 1,377 crores. The company achieved a profit of Rs. 380 crores. The company sold 7.6 lakh policies during 2012-13 with total managed funds valuing to Rs. 18,189 crores, through a wide network of distribution with 1,230 offices and over 1,24,000 advisorsRated amongst the Top 3 Most Trusted Service Brands in the Insurance Category, the company aims to emerge as a transnational life insurer of global scale and standards. Reliance Life Insurance is a part of Reliance Capital of the Reliance Anil DhirubhaiAmbani Group. Reliance Capital is one of India‘s leading private sector
  • 23. 22 financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital has interests in asset management and mutual funds, stock broking, life and general insurance, proprietary investments, private equity and other activities in financial services. Reliance Group also has presence in Communications, Energy, Natural Resources, Media, Entertainment, Healthcare and Infrastructure. Nippon Life Insurance Company acquired 26% interest in equity share capital of the Company effective October 7, 2011 subsequent to receipt of all regulatory approval. Nippon Life Insurance (26% share), also called Nissay, is Japan's largest private life insurer with revenues of Rs 346,834 crore (US$ 80 Billion) and profits of over Rs 12,199 crore (US$ 3 billion). The Company has over 14 million policies in Japan, offers a wide range of products, including individual and group life and annuity policies through various distribution channels and mainly uses face-to-face sales channel for its traditional insurance products. The company primarily operated in Japan, North America, Europe and Asia and is headquartered in Osaka, Japan. It is ranked 81st in Global Fortune 500 firms in 2011.
  • 24. 23 RELIANCE – ADA GROUP
  • 25. 24 Reliance Communications Limited The flagship company of the Reliance – ADA Group, Reliance Communications Limited, is the realization of our founder‘s dream of bringing about a digital revolution that will provide every Indian with affordable means of communication and a ready access to information. The company began operations in 1999 and has over 20 million subscribers today. It offers a complete range of integrated telecom services. These include mobile and fixed line telephony; broadband, national and international long distance services, data services and a wide range of value added services and applications aimed at enhancing the productivity of enterprises and individuals. Reliance Energy Limited Reliance Energy Limited, incorporated in 1929, is a fully integrated utility engaged in the generation, transmission and distribution of electricity. It ranks among India‘s top listed private companies on all major financial parameters, including assets, sales, profits and market capitalization. It is India‘s foremost private sector utility with aggregate estimated revenues of Rs 9,500 crore (US$ 2.1 billion) and total assets of Rs 10,700 crore (US$ 2.4 billion).
  • 26. 25 Reliance Energy Limited distributes more than 21 billion units of electricity to over 25 million consumers in Mumbai, Delhi, Orissa and Goa, across an area that spans 1,24,300 sq. kms. It generates 941 MW of electricity, through its power stations located in Maharashtra, Andhra Pradesh, Kerala, Karnataka and Goa. The company is currently pursuing several gas, coal, wind and hydro-based power generation projects in Maharashtra, Uttar Pradesh, Arunachal Pradesh and Uttaranchal with aggregate capacity of over 12,500 MW. These projects are at various stages of development. Reliance Energy Limited is vigorously participating in emerging opportunities in the areas of trading and transmission of power. It is also engaged in a portfolio of services in the power sector in Engineering, Procurement and Construction (EPC) through a network of regional offices in India. Reliance Health In a country where healthcare is fast becoming a booming industry, Reliance Health is a focused healthcare services company enabling the provision of solution to Indians, at affordable prices. The company aims at providing integrated health services that will
  • 27. 26 compete with the best in the world. It also plans to venture into diversified fields like Insurance Administration, Health care Delivery and Integrated Health, Health Informatics and Information Management and Consumer Health. Reliance Health aims at revolutionizing healthcare in India by enabling a healthcare environment that is both affordable and accessible through partnerships with government and private businesses. Reliance Media & Entertainment As part of the Reliance - ADA Group, Reliance Entertainment is spearheading the Group‘s foray into the media and entertainment space. Reliance Entertainment‘s core focus is to build significant presence for Reliance in the Entertainment eco-system: across content and distribution platforms. The key content initiative are across Movies, Music, Sports, Gaming, Internet & mobile portals, leading to direct opportunities in delivery across the emerging digital distribution platforms: digital cinema, IPTV, DTH and Mobile TV. Reliance ADA Group acquired Adlabs Films Limited in 2005, one of the largest entertainment companies in India, which has interests in film processing, production, exhibition & digital cinema.
  • 28. 27 Reliance Entertainment has made an entry into FM Radio through Adlabs Radio, having won 45 stations in the recent bidding, which will soon be the Radio station with the largest footprint in India. Reliance Capital Reliance Capital is one of India‘s leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. The company has interests in asset management and mutual funds, life and general insurance, private equity and proprietary investments, stock broking and other activities in financial services. Reliance Communications Limited The flagship company of the Reliance – ADA Group, Reliance Communications Limited, is the realization of our founder‘s dream of bringing about a digital revolution that will provide every Indian with affordable means of communication and a ready access to information.
  • 29. 28 The company began operations in 1999 and has over 20 million subscribers today. It offers a complete range of integrated telecom services. These include mobile and fixed line telephony; broadband, national and international long distance services, data services and a wide range of value added services and applications aimed at enhancing the productivity of enterprises and individuals. Reliance Energy Limited Reliance Energy Limited, incorporated in 1929, is a fully integrated utility engaged in the generation, transmission and distribution of electricity. It ranks among India‘s top listed private companies on all major financial parameters, including assets, sales, profits and market capitalization. It is India‘s foremost private sector utility with aggregate estimated revenues of Rs 9,500 crore (US$ 2.1 billion) and total assets of Rs 10,700 crore (US$ 2.4 billion). Reliance Energy Limited distributes more than 21 billion units of electricity to over 25 million consumers in Mumbai, Delhi, Orissa and Goa, across an area that spans 1,24,300 sq. kms. It generates 941 MW of electricity, through its power stations located in Maharashtra, Andhra Pradesh, Kerala, Karnataka and Goa. The company is currently pursuing several gas, coal, wind and hydro-based power generation projects in Maharashtra, Uttar Pradesh, Arunachal Pradesh and Uttaranchal
  • 30. 29 with aggregate capacity of over 12,500 MW. These projects are at various stages of development. Reliance Energy Limited is vigorously participating in emerging opportunities in the areas of trading and transmission of power. It is also engaged in a portfolio of services in the power sector in Engineering, Procurement and Construction (EPC) through a network of regional offices in India. Reliance Health In a country where healthcare is fast becoming a booming industry, Reliance Health is a focused healthcare services company enabling the provision of solution to Indians, at affordable prices. The company aims at providing integrated health services that will compete with the best in the world. It also plans to venture into diversified fields like Insurance Administration, Health care Delivery and Integrated Health, Health Informatics and Information Management and Consumer Health. Reliance Health aims at revolutionizing healthcare in India by enabling a healthcare environment that is both affordable and accessible through partnerships with government and private businesses.
  • 31. 30 Reliance Media & Entertainment As part of the Reliance - ADA Group, Reliance Entertainment is spearheading the Group‘s foray into the media and entertainment space. Reliance Entertainment‘s core focus is to build significant presence for Reliance in the Entertainment eco-system: across content and distribution platforms. The key content initiative are across Movies, Music, Sports, Gaming, Internet & mobile portals, leading to direct opportunities in delivery across the emerging digital distribution platforms: digital cinema, IPTV, DTH and Mobile TV. Reliance ADA Group acquired Adlabs Films Limited in 2005, one of the largest entertainment companies in India, which has interests in film processing, production, exhibition & digital cinema.
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  • 33. 32 VISION To build a global enterprise for all our stakeholders, and A great future for our country, To give millions of young Indians the power to shape their destiny, The means to realize their full potential… Mission Create unmatched value for everyone through dependable, effective, transparent and profitable life insurance and pension plans. Goal Reliance Life Insurance would strive hard to achieve the 3 goals mentioned below: • Emerge as transnational Life Insurer of global scale and standard • Create best value for Customers, Shareholders and all Stake holders • Achieve impeccable reputation and credentials through best business practices
  • 34. 33 Achievements:  Largest Private Life Insurance in terms of Number of Policies for two consecutive years as of 31st March 2012  A wide network of 1230 branches and 1,50,000 advisors  Over 9 million policies  RLIC continues to be amongst the foremost Life Insurance companies in India to be certified ISO 9008:2001  Winner of ―Best Non-Urban Coverage‖ Award at Indian Insurance Awards 2011  RLIC‘s Boundaries for Books Campaign won the 'Silver' at the Indian Digital Media Awards (IDMA) 2012, under Best Integrated Campaign – Social Cause and Best Use of Social Network – Social Cause  Amongst the top 3 Most Trusted Service Brands in the Insurance category as per the Brand Equity‗s ‗Most Trusted Service Brands 2011‘ Survey
  • 35. 34 VALUES Shareholder Interest We value the trust of shareholders, and keep their interests paramount in every business decision we make, every choice we exercise People Care We possess no greater asset than the quality of our human capital and no greater priority than the retention, growth and well-being of our vast pool of human talent Consumer Focus We rethink every business process, product and service from the standpoint of the consumer – so as to exceed expectations at every touch point Excellence in Execution We believe in excellence of execution – in large, complex projects as much as small everyday tasks. If something is worth doing, it is worth doing well. Team Work The whole is greater than the sum of its parts; in our rapidly-changing knowledge economy, organizations can prosper only by mobilizing diverse competencies, skill sets and expertise; by imbibing the spirit of ―thinking together‖ -- integration is the rule, escalation is an exception
  • 36. 35 Proactive Innovation We nurture innovation by breaking silos, encouraging cross-fertilization of ideas & flexibility of roles and functions. We create an environment of accountability, ownership and problem-solving –based on participative work ethic and leading-edge research Leadership by Empowerment We believe leadership in the new economy is about consensus building, about giving up control; about enabling and empowering people down the line to take decisions in their areas of operation and competence… Social Responsibility We believe that organizations, like individuals, depend on the support of the community for their survival and sustenance, and must repay this generosity in the best way they can. Respect for Competition We respect competition – because there‘s more than one way of doing things right. We can learn as much from the success of others as from our own failures
  • 37. 36 PRODUCTS POLICIES Reliance Life Insurance has a wide array of insurance plans that have been designed with the philosophy that different individuals are bound to have differing insurance needs. The ideal insurance plan is one that addresses the exact insurance needs of the individual that will depend on the age and life stage of the individual apart of the host of other factors.
  • 38. 37
  • 39. 38 OBJECTIVE To study and understand the process of recruitment of Advisor at Reliance Life Insurance and to suggest the various profiles for getting capable Advisors in Reliance Life Insurance. To provide suggestions & recommendations from the study conducted. To study the effectiveness of the recruitment of the advisors in the company.
  • 40. 39
  • 41. 40 RESEARCH METHODOLOGY Research problem:- To get the potential Life Advisors for the sake of company‘s benefit. Research Design :- Descriptive and Exploratory Research Design. Study is descriptive because it describes the process of recruitment and selection and study is exploratory because some more new profiles or segments are discovered for recruitment. Universe & Sample size;- Reliance Life Insurance Kanpur. Life Advisors-30 Sampling Technique;- convenient sampling Data Collection and Sources:- Data is collected through primary and secondary sources where primary data collection was done by structured questionnaire and secondary data was collected from magazines, newspaper, books, Internet etc. Analysis pattern:- pie chart and bar chart were used for analysis.
  • 42. 41 LIFE INSURANCE PLANS: Under Life insurance plans, Reliance Life Insurance offers plans under the following major categories:  Education Insurance Plans  Wealth creation Plans  Premium Guarantee Plans  Protection Plans
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  • 44. 43 In life, you have always given your family whatever they have wanted. Yet, there are some promises you have to fulfil, such as taking your family for a vacation, or buying that dream house. Set aside some money to achieve these specific goals with the help of Reliance Savings & Investment Plans. The plan allows you to experience the joys of life and provide for your family's needs. Enjoy life without worrying about the promises you have made—we are here to fulfil them. Reliance Life Insurance Smart Maturity Benefit Plan Reliance Life Insurance Super Endowment Plan Reliance Life Insurance Guaranteed Money Back Plan Reliance Life Insurance Money Multiplier Plan Reliance Cash Flow Plan Reliance Endowment Plan Reliance Super Five Plus Reliance Whole Life Plan Reliance Connect 2 Life Plan
  • 45. 44 RETIREMENT SOLUTIONS: The primary objective of retirement plan is to help you provide for your financial needs in your post retirement years.  Forever Life  Life Time Super Pension  Life Link Super Pension HEALTH PRODUCT SUIT: Under Health Product Suit, Reliance Life Insuranceoffers plans under the following major categories:  Health Assure  Health Assure Plus  Hospital Care  Cancer Care  Cancer Care Plus  Diabetes Care  Diabetes Care Plus
  • 46. 45 PRODUCT PORTFOLIO Insurance Solutions for Individuals Reliance Life InsuranceLife Insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life stage. Its products can be enhanced with up to 4 riders, to create a customized solution for each policyholder. Savings & Wealth Creation Solutions  Save'n'Protect is a traditional endowment savings plan that offers life protection along with adequate returns.  CashBak is an anticipated endowment policy ideal for meeting milestone expenses like a child's marriage, expenses for a child's higher education or purchase of an asset. It is available for terms of 15 and 20 years.  LifeTime Gold is a unit-linked plan that offers customers the flexibility and control to customize the policy to meet the changing needs at different life stages. It offers 7 fund options - Preserver, Protector, Balancer, Flexi Balanced Multiplier, R.I.C.H and Flexi Growth.  LifeStage RP is unit linked plan that provides you with an option of lifecycle- based portfolio strategy that continuously re-distributes your money across various asset classes based on your life stage. This will help you achieve the right Asset Allocation to meet your desired financial goals.
  • 47. 46  LifeLink Super is a single premium unit linked insurance plan which combines life insurance cover with the opportunity to stay invested in the stock market.  Premier Life Gold is a limited premium paying plan specially structured for long-term wealth creation.  InvestShield Life New is a unit linked plan that provides premium guarantee on the invested premiums and ensures that the customer receives only the benefits of fund appreciation without any of the risks of depreciation.  InvestShield Cashbak is a unit linked plan that provides premium guarantee on the invested premiums along with flexible liquidity options.  LifeStage RP is a unique and powerful wealth creation insurance solution, which combines the benefits of automatic asset allocation and quarterly rebalancing along with increased protection.
  • 48. 47 Protection Solutions  LifeGuard is a protection plan, which offers life cover at low cost. It is available in 3 options - level term assurance, level term assurance with return of premium & single premium.  HomeAssure is a mortgage reducing term assurance plan designed specifically to help customers cover their home loans in a simple and cost- effective manner. Education Solutions  SmartKid New ULIP provides guaranteed educational benefits to a child along with life insurance cover for the parent who purchases the policy. The policy is designed to provide money at important milestones in the child's life. SmartKid plans are also available in traditional form.
  • 49. 48 Retirement Solutions  ForeverLife is a traditional retirement product that offers guaranteed returns for the first 4 years and then declares bonuses annually.  LifeTime Super Pension is a regular premium unit linked pension plan that helps one accumulate over the long term and offers 5 annuity options (life annuity, life annuity with return of purchase price, joint life last survivor annuity with return of purchase price, life annuity guaranteed for 5, 10 and 15 years & for life thereafter, joint life, last survivor annuity without return of purchase price) at the time of retirement.  LifeStage Pension is a regular premium unit linked pension plan that provides you with a unique lifecycle-based strategy that continuously re- distributes your money across various asset classes based on your life stage, eventually providing you with a customized retirement solution.  LifeLink Super Pension is a single premium unit linked pension plan.  Immediate Annuity is a single premium annuity product that guarantees income for life at the time of retirement. It offers the benefit of 5 payout options.  PremierLife Pension is a unique and convenient retirement solution with a limited premium paying term of three or five years, to suit professionals and
  • 50. 49 businessmen, especially those who require more flexibility and customization while planning their finances. Health Solutions  Health Assure Plus: Health Assure is a regular premium plan which provides long term cover against 6 critical illnesses by providing policyholder with financial assistance, irrespective of the actual medical expenses. Health Assure Plus offers the added advantage of an equivalent life insurance cover.  Cancer Care: is a regular premium plan that pays cash benefit on the diagnosis as well as at different stages in the treatment of various cancer conditions  Cancer Care Plus: is a wellness plan that includes all the benefits of Cancer Care and also provides an additional benefit of free periodical cancer screenings.  Diabetes Care: Diabetes Care is a unique critical illness product specially developed for individuals with Type 2 diabetes and pre-diabetes. It makes payments on diagnosis on any of 6 diabetes related critical illnesses, and also
  • 51. 50 offers a coordinated care approach to managing the condition. Diabetes Care Plus also offers life cover.  Diabetes Care Plus: is a unique insurance policy that provides an additional benefit of life cover for Type 2 diabetics and pre-diabetics  Hospital Care: is a fixed benefit plan covering various stages of treatment - hospitalization, ICU, procedures & recuperating allowance. It covers a range of medical conditions (900 surgeries) and has a long term guaranteed coverage upto 20 years.  Crisis Cover: is a 360-degree product that will provide long-term coverage against 35 critical illnesses, total and permanent disability, and death. Group Insurance Solutions Reliance Life InsuranceLife also offers Group Insurance Solutions for companies seeking to enhance benefits to their employees.
  • 52. 51  Group Gratuity Plan: Reliance Life InsuranceLife's group gratuity plan helps employers fund their statutory gratuity obligation in a scientific manner and also avail of tax benefits as applicable to approved gratuity funds.  Group Superannuation Plan: Reliance Life InsuranceLife offers a flexible market linked scheme that provides substantial benefits to both employers and employees. Both defined contribution (DC) and defined benefit (DB) schemes are offered to optimize returns for members of the trust and rationalize cost. Members have the option of choosing from various annuity options or opting for a partial commutation of the annuity at the time of retirement.  Group Immediate Annuities: Reliance Life InsuranceLife realizes the importance of prudent retirement planning. With this in mind, we have developed a suite of annuity products that not only give you an income for life but also provide you options to match your needs. In addition to the annuities offered to existing superannuation customers, we offer immediate annuities to superannuation funds not managed by us.
  • 53. 52  Group Term Plan: Reliance Life InsuranceLife's flexible group term solution helps provide an affordable cover to members of a group. The cover could be uniform or based on designation/rank or a multiple of salary. The benefit under the policy is paid to the beneficiary nominated by the member on his/her death. Flexible Rider Options Reliance Life InsuranceLife offers flexible riders, which can be added to the basic policy at a marginal cost, depending on the specific needs of the customer. 1. Accident & disability benefit: If death occurs as the result of an accident during the term of the policy, the beneficiary receives an additional amount equal to the rider sum assured under the policy. If an accident results in total and permanent disability, 10% of rider sum assured will be paid each year, from the end of the 1st year after the disability date for the remainder of the base policy term or 10 years, whichever is lesser. If the death occurs while traveling in an authorized mass transport vehicle, the beneficiary will be entitled to twice the sum assured as additional benefit.
  • 54. 53 2. Critical Illness Benefit: protects the insured against financial loss in the event of 9 specified critical illnesses. Benefits are payable to the insured for medical expenses prior to death 3. Waiver of Premium: In case of total and permanent disability due to an accident, the future premiums continue to be paid by the company till the time of maturity. This rider is available with SmartKid, LifeTime Plus, LifeTime Super and LifeTime Super Pension. 4. Income benefit rider: In case of death of the life assured during the term of the policy, 10% of the sum assured is paid annually to the nominee on each policy anniversary till the maturity of the rider.
  • 55. 54 Some plans with detail CASH BACK Who can apply? If you are 16 year old and not older than 55 years, the minimum sum is Rs. 75,000. You have the option of paying yearly, half-yearly and also monthly premium. Death benefit: Sum assured + guaranteed additions (GA @ 3.5% compound annually on SA for the 4 years) + vested bonus (VB) Maturity benefit: 50% of sum assured guaranteed additions for four years + VB ob entire sum assured. Survival benefit: At the end of the year SBAS % of S.S. End of the years SBAS % of S.S. 3 10% 4 10% 6 15% 8 15% 9 20% 12 20% 12 25% 16 25% Maturity 50%+GA+VB Maturity 50%+GA+VB
  • 56. 55 Additional features: For protection to your family against unfortunate health, hazards or eventuality, we offer you the followings riders: 1. Critical illness Riders 2. Major surgical Riders 3. Accident & Disability benefit 4. accident benefit Riders General features: Surrender- after 3 policy years, you get certain amount on surrender of the policy. SMART KID Who can apply? If you are a parent‘s aged between 20 & 60 years with children in the age group of 0 to 15 years with minimum sum assured Rs. 1,00,000. Death benefit: Nominee get 100% sum assured + profit accrued on the plan till such date + Wavier of premium
  • 57. 56 Survival benefit: This policy pays out money at regular interval coinciding with important Miles tones in child‘s life. It has two options for payment. Option 1: At the end of Child Age Pay out Term-7 5 years 0% of S.A. Term-5 7 years 5% of S.A. Term-2 0 years 5% of S.A. Term 2 years 0% of S.A.+GA+VB Option 2: At the end of Child Age Pay out Term-4 8 years 5% of S.A. Term-3 9 years 20% of S.A. Term-2 0 years 20% of S.A. Terrm-1 1 years 0% of S.A. Term 2 years 0% of S.A.
  • 58. 57 Riders: 1. Income benefit riders 2. Accident & Disability Benefit riders 3. Accident benefit riders General features: Surrender: after three policy years have been completed Tex-benefit: Sec 80(c) on premium payment Sec 10(10) D benefit on death & maturity claim. FOREVER LIFE PENSION PLAN Who can apply? If a person age between 20 & 60 year with minimum term 5 years and maximum 30 years. Life cover benefit: Forever life pension plan provides life covers during the deferment phase. In unfortunate event of the death, the spouse has the option to receive the sum assured
  • 59. 58 with guaranteed additions and vested bonuses(if any) as a lump sum or get an annuity that would provide a regular income for life. Maturity benefit: 1. Life Annuity: annuity for life 2. Life annuity with return of purchase price: life annuity for the annuitant with the return of the purchase price. 3. Life annuity guaranteed for 5, 10, 15 years: guaranteed annuity paid for chosen term and after that the annuity as long as the annuitant is alive. 4. Joint life, last survivor with return of purchase price: in this case, the annuity is first paid to annuitant. After the death of annuitant, the spouse starts getting a pension, which is an amount that equal to the annuity paid to the annuitant. After the death of last survivor, the purchase price is return to the beneficiary. Open market offer: Reliance Life Insurancegiving offer to you to buy a pension from any other insurer of your choice at the time of vesting. So, you have the freedom to take the best offer available in the market.
  • 60. 59 Riders: 1. Critical illness riders (standalone) 2. Major surgical assistance riders 3. Accident and disability benefit riders 4. Accident benefit riders General feature: Surrender: After 3 policy years Tax benefit: 80 CCC on premium paid. Power to choice the retirement date between 50 to 70 years.
  • 61. 60 LIFE TIME PENSION II Who can apply? If your age between 18 & 65 years. In that case you have opted to choose a zero death benefit. Else, you have to between 18 & 60 years of age. Sum Assured at inception: Option 1: You can opt for a zero sum assured. Option 2: You can opt for a sum assured will be equal to product of your annual contribution & term. Pension investment plans: 1. Pension Maxi miser: If high is your priority, this is the plan for you. You can enjoy long term application from a portfolio that is investment primarily and equity related securities. 2. Protector: If on the other hand, your priority is steady return, you can opt for the Protector Plan. Here, you can accumulate a steady income at low risk across a medium to long term period from a portfolio, which is primarily in fixed income securities.
  • 62. 61 3. Balancer: If you prefer a balance of growth and steady returns, you can choose our Balancer plan. This would ensure you that your portfolio is invested in equity and equity linked securities, as well as in fixed income securities. 4. Preserver: The objective of this plan is to ensure capital protection by invest in very low risk investment like the cash and call money markets. However the return generated may also be on the lower side due to the investment pattern. At inception, investment up to 20% can be allocation to this fund. Premium allocation: Allocation of contribution would be depending on the first contribution made. The allocation will be as follows:
  • 63. 62 Allocation(Rs.) 1 year 2 years 3-10 years Thereafter 10,00-49,999 78% 88% 99% 100% 50,000 & above 83% 83% 99% 100% Other cheers: 1. Top up charges: Top up charges will be 1 % of top up value. 2. Switch charges: Except from 4 free switches allowed every policy year, all a. Other switches will be charged @ Rs. 100 per switch 3. Administrative charges: A fixed charge of Rs. 20 per month will be levied by a. Cancellation of units. 4. Fund related charges: The annual fund, related charge for the various funds will be as follows: Fund type Investment charges Maxi miser 1.50% Balancer 1.00% Protector 0.75% Preserver 0.75% Surrender Value: During 1st policy year 95% of policy invested During 2nd policy year 96% of policy invested During 3rd policy year 97% of policy invested
  • 64. 63 During 4th policy year 100% of policy invested Maturity benefit: 1. Life annuity: annuity for life 2. Life annuity with return of purchase price: Life annuity for annuitant with return of the purchase price of beneficiary. 3. Life Annuity Guaranteed for 5, 10, and 15 years: Guaranteed annuity is paid for chosen term and after that the annuity as long as the annuitant is alive. 4. Joint life, last survivor with return of purchase price: In this case, the annuity first paid to annuitant. After the death of the annuitant, the spouse start getting a pension, which is an amount that is equal to the annuity paid to the annuitant. After death of the last survivor, the purchase price is returned to the beneficiary 5. Joint Life, Last Survivor with Return of Purchase Price: In this case the annuity is first paid to annuitant. After death of the annuitant, the spouse starts getting a pension, which is an amount that is equal to the annuity paid to annuitant. Riders:- 1. Waiver of premium. 2. Accident & death benefit riders.
  • 65. 64 INTRODUCTION TO CHANNEL DEVELOPMENT AND RECRUITMENT Who is an insurance advisor? An agent is the representative of an insurance company who sells different policies or product to its clients. Another term used for insurance agents is advisors; Reliance Life Insurancelife insurance company Ltd introduced this term. Today in life insurance companies‘ advisors are known to be the backbone of the whole system. Advisors/agents do not work on monthly payroll basis; they receive a certain commission on the policies they sell to the clients. The eligibility required to become an advisor/agent is that he/she should be 12th pass to operate in urban area and 10th pass for rural areas. Before a person becomes an advisor/agent he/she has to undergo 100hrs training according to IRDA norms, which is compulsory. A person who wants to be an advisor has first to fill a recruitment form and has to pay a fee of Rs. 1500/- in favor of ICICI Prudential. Then, he has to pass a test, which is compiled by IRDA. After he gets through that test he is awarded a license and then his training starts in the company regarding the insurance business. ICICI Pru provides this training in 3 modes as per the suitability of the advisors viz:- 1) Classroom training: - it is a Full Time Training with a period of 17 days regular between 9 am to 5pm at the training centers allotted to the advisor. 2) Online training: - it is another mode of training where the company provides CD‘S and books to the advisor for his own study. 3) Classroom training: - it is a Part Time Training with a period of 36 days.
  • 66. 65 Advisor Role: To provide ongoing financial advice for his/her clients:  Identify future clients  Making appointments  Conduct financial review meetings with prospects/clients.  Close sales  Get referrals  Provide service to clients.  Follows internal sales and reporting system. Working Environment of an advisor/agent.  To be a part of world-class sales team.  Work from your own office or residence.  Work full time or part time (an advisor can work part time by undergoing only 50hrs of training and 100hrs training is for full time advisors.)  Earn Commission, Bonus & Incentives.  No upper limits on earnings.  Flexible career. Opportunities for an Advisor/Agent  No startup capital required.  Flexible working environment.  Be your own boss.  Unlimited earning potential.  To be a part of a world-class team.
  • 67. 66 Commission Structure. Different products will have different commission structures. For example: Single Premium products will have a commission of 2%. Renewal Commission is paid at the following rates:  2nd yr: 7.5% 3rd yr: 7.5% 4th yr: 5% 5th yr: 5% onwards MOST PREFERRED PROFILES TO RECRUIT AS ADVISIORS/AGENTS  Housewives  Income tax consultant  Charted accountant  Sales personnel‘s working in  Automobile dealership  Credit card co.  Telecom  Mutual fund  DSA‘s  M R‘s  Doctors  Teachers  VRS holders  Advisors of other insurance companies
  • 68. 67  Post office agents  Businessmen  Accountants OI in an organization How does an advisor/agent work?  Firstly an advisor/agent has to make a list of 100 people that he/she knows.  Then the advisor/agent makes a call to these clients and tries to fix an appointment.  When an appointment is fixed, the advisor/agent meets the customer & tries to sell the product.  After that the adviso/agent asks for reference of maximum number of people from the client.  The reference is asked in context to make future calls and whole procedure is repeated again.
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  • 71. 70 Insurance advisory survey Gender of the respondent Frequency Percentage Female Male Total 10 20 30 33% 67% 100%
  • 72. 71 Inference: As we can see from the figure itself that there is a sex ratio difference between males and females, 2:1 in the insurance industry. It is mainly because advisor‘s job is demanding in terms of rigorous fieldwork and hence women finds difficult to cope up with it. Educational qualification of the respondent Frequency Percentage Inter Graduate Professional Total 3 10% 20 67% 7 23% 30 100%
  • 73. 72 Inference: Among insurance advisors, it has been observed that 67% of them are graduate in comparison to professionals like MBA‘s who joint 23%. While intermediates pass people just make 10% of the whole lot. Source of information of the customer
  • 74. 73 Frequency percentage News Papers TV &Web Relatives/Friends Other sources Total 9 6 11 4 30 30% 20% 37% 13% 100%
  • 75. 74 Inference: As per the point of view of the37 % advisors, the customers usually get to know about the policies & products of any insurance company via their relatives or friends while30 % advisors gave the credit to the advertising in the newspapers as the source of information to the people. TV & Web had 20 % of the advisors favoring them and rest 13% from other sources. Advisors doing the job as part time or full time Frequency percentage Part time Full time Total 6 24 30 20% 80% 100%
  • 76. 75 METHODOLOGY USED TO RECRUIT ADVISORS The basic aim of the company in providing us with this assignment was to find out the people‘s perception of their brand in the market and via this increasing their advisor base by encashing on their brand name. 1) Hence, our sales pitch in recruiting the good profile advisor was based on:  Money: For those who are needy, greedy and speedy  Excellent back end support, attractive payments and benefits and
  • 77. 76  Extensive training for that edge over competition  Reward and Recognition For those who want to be recognized and honored  Several programs including foreign trips, seminars etc.  Selected club memberships like president‘s club, MDRT club etc.  Achievements rewarded with trophies and certificates as well with Point rewards to give you a flying start.  Carrier Prospects For people who want to climb the success ladder fast.  Programs like PINNACLE, AGENCY CHAMPION and TIGER TEAM has been devised. This whole strategy was based on the MASLOW‗s THEORY OF NEEDS. 2) Then, instead of going personally and meeting these already well-established Advisors, we tried the concept of holding BOP ( Business Opportunity presentation)And result was good in the sense that we were able to convert 5 to 10 advisors for our company then and there only.
  • 78. 77 3) Then, we targeted high profile people like CA‘s or MBA‘s or govt. employee For that, we drafted a letter in which we just gave them a hang of what our proposal was for them (for recruiting them as our advisors) and asked them to contact us themselves if they are interested. We got at least 10-15 calls of people who were interested and wanted to become our advisors. Meetings were held with them.
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  • 80. 79 SWOT ANALYSIS Strength  Vast untapped market: In a country of 1 billion people there is a huge potential market for life insurance products. In India the penetration of the insurance sector in the rural and semi-urban areas is low. There is a market of 900 million for life insurance and 200 million for householder‘s insurance policy. In addition to this the affluent section can be tapped for Overseas Mediclaim and Travel Insurance policies.  Huge pool of skilled professionals: Whether it is banks or insurance companies, there is no dearth of skilled professionals in India to carry out a successful banc assurance venture. Weakness:  Lack of networking among bank branches In spite of growing emphasis on total branch mechanization (TBM) and full computerization of bank branches, the rural and semi-urban banks have still to see information technology as an enabler. Complete integration of branch network involves huge investments for creation IT and communication infrastructure.
  • 81. 80  Low savings rate Though we have a huge market for insurance policies, the middle class who constitutes the bulk of this market is today burdened under inflationary pressures. The secret lies in including savings habit but considering the amount of surplus funds available with the middle class for investing in future security, the ability to save is very nominal. Opportunities:  Data mining: Banks have a huge customer database which has to be properly leveraged. Target segments should be identified and tapped.  Wide distribution networks of banks provides a great opportunity to sell insurance products through banks  Another potential area of growth of banc assurance is exploiting the corporate customers and tying up for insurance of the employees of corporate clients. Threats:  Human Resource Challenges
  • 82. 81 Success in banc assurance venture requires a change in mindset. Though we have a large talent pool, the inability to sell complex insurance products on the part of bank professionals and their reluctance to learn can be severe setback. There has to be a change in the thinking, approach and work culture.  Non-response from the target groups can also pose a challenge.
  • 83. 82 FUTURE GROWTH PROSPECTS OF COMPANY In the total market share, LIC has reduced its share from 91% to 70%. This means that private insurance players have got more margins in their hands which have increased from 9% to 30% in last 2years only. In the private market share, Reliance life leads with 39% of the market share in its hand followed by Bajaj Allianz with 18% shares and then comes BirlaSun Life with 15% market shares. Reliance life has been maintaining its NO 1 position since last 5 years because of its prolific product range and commanding brand equity. It has a highest capital base of Rs. 925 crores and a team of more than 56,300 week-trained advisors. It enjoys a brand recall rate of 92% and gives credit of its success to the 5 core values-  Integrity  Customer  Boundary Less  Ownership  Passion
  • 84. 83 COPETITIVE ANALYSIS WITH HDFC-STANDARD LIFE HDFC Standard Life Insurance Company is a joint venture between India‘s largest housing finance provider, HDFC and Europe‘s largest mutual life assurance The Standard Life Assurance Company (U. K). Standard Life, UK, founded in 1825, has been at the forefront of the UK insurance industry for 175 Years by combining sound financial judgment with integrity and reliability. It is the Largest Mutual Life company in Europe and has total assets of Rs. 5,50,000 crore. Training activities for agents/advisors:  As per IRDA guidelines, 100hrs training is compulsory.  Both online & classroom training are available.  Training is compulsory with both part-time &full time Options.  A clear exam is conducted by IRDA, the minimum Qualification required is- 12th pass for urban areas 10th pass for rural areas.
  • 85. 84 Commission Structure: Depends on the product, like on savings 20-40% Ist year premium.  On investment  On pension 7.5% Modes & ways through which the company recruits agents.  Direct contacts.  Newspaper adds.  Consultants.  Member of the company can introduce a new member. Current agent force 500-600 in Kanpur Top 5 USP’s (Unique Selling Proposition) Of HDFC Std. Life  Best insures according to Outlook.  Well supported by foreign Ist private sector life insurance Company to be granted a license.  Declared bonus every year from the day of incorporation (only company.) Provides fast service to the customers in terms of claim
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  • 87. 86 RECOMMENDATIONS  An insurance policy is a product, which needs a lot of convincing before it can be sold because what I analyzed in this internship that there are very few people who have a basic knowledge about life insurance especially the lower middle class society. So, it is essential for the advisor to know what the customer actually needs and then letting the customer know what benefits he will get out of it.  The limitation here is how to win the trust of people when so many companies are offering the same product range. Here, Reliance need to encash brand name because after the survey I conducted what I concluded is that after LIC if people know any other insurance company is then it is Reliance life.  Instead of approaching these good profile agents personally, the company can hold Seminars or Club Meeting because every one comes for free lunches. Once they come, they can be given Business Opportunity presentation about the incentive, commission structure etc Reliance life is offering to its advisors.
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  • 89. 88 LIMITATIONS  Convincing people to invest in insurance products is challenging.  Due to Lack of time sufficiency research on all the investment products is difficult.  The study is based on both primary as well as secondary data and has the limitations pertaining to the usage of both kinds of data.  Respondents may be biased while filling the questionnaire The survey sample is not very large for analysis
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  • 91. 90 CONCLUSION The Indian Insurance Industry has suddenly witness a major boom. The market for Insurance business is found vast; the potential policyholders are in a very good number. And their needs and requirements are not identical.The market share of life insurance business is comparatively superior to general insurance business. Free markets and globalization have increased competition in the changed scenario; life insurance business has to reengineer its approaches and strategies on quality basis. 1. The analysis revealed that it‘s not just a myth that people avert from private companies but is a harsh reality. 2. LIC enjoys credibility over other private players in the industry. 3. Out of 250 sampled people just 90 of them have taken some policies from the private companies, which is actually small in number. 4. People who had taken various policies from the private companies are fully satisfied because of the attractive returns, capital guarantee on some plans and easy liquidity as one of the major factors. 5. People look for handsome returns along with security in all of their investment plans. Although insecurity is one major factor that avert people to invest in the private companies. 6. Many people in the market were not aware of the fact that IRDA governs the functioning of all the private companies along with LIC. 7. People‘s faith in the private players actually increased after the IRDA regulation fact was revealed to them. 8. There are many people who are greatly influenced by their natural circle while some are ignorant about the existence of the private insurance players and the plans they
  • 92. 91 are offering and the rest of the surveyed people have already taken some policies from LIC and are pretty satisfied.
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  • 94. 93 BIBLOGRAPHY  Study Material for AMFI exam  Investment update report of other AMC‘S  Various Business Newspaper  Magazines  Economic Times  The Times Of India  India Today  WWW.AMFINDIA.COM  WWW.ICICIPRULIFE.OM  WWW.INVESTMSRTINDIA.COM  WWW.PERSONALFN.COM  WWW.ECONOMICTIMES.COM  WWW.STOCKINDIA.COM
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  • 96. 95 ANNEXURE Questionnaire Name: Age: 30-35 35-40 40-45 45-50 Gender: Male Female Address: Tel. No.: Email ID: Occupation  Business  Service Annual Income  Less than 1 laky  1 laky -2.5lakh  2.5 lakh-5 laky  More than 5 laky 1. Have you taken any life insurance policy?  Yes  No
  • 97. 96 2. From which company have you bought an insurance product?  Reliance Life InsuranceLife Insurance Co. Ltd.  Max New York Life Insurance Co. Ltd.  HDFC Standard Life Insurance Co. Ltd.  TATA AIG Life Insurance Company Ltd.  Any other 3. Which product have you bought?  Term Insurance  Whole life plan  Retirement plan  Unit linked policy  Other 4. What influenced you to buy an insurance product?  Print Media  Radio  Television  Campaigns/ hoardings  Agent/Friend 5. Which is the most attractive advertisement in your view?  ICICI Chintamani  Max New York Dravid  HDFC Sar utha ke jiyo  Any other  6. If you have bought your product from Reliance Life InsuranceLife Insurance Co. Ltd. then what is your satisfaction level?  Completely satisfied  Satisfied  Not Satisfied  Dissatisfied
  • 98. 97  Completely Dissatisfied 7. Which is the most effective punch line in your view?  We cover you. At every step in life.  Your partner for life  Making life easier for you  Your dreams. Our commitment.  With you always  8. What do you feel about the punch line of Reliance Life InsuranceLife Insurance Co. Ltd.?  Catchy  Low Profile  Generate feeling of security  Touches your heart  9. What do you think about the Reliance Life Insuranceadvertisements?  Aggressive  Comparable with its competition  Low Profile  Unsatisfactory