hdfc fincial consultant by ishtiyak ah

Recruitment Of Financial
` Consultant & to study the roles
& responsibility of S.D.M
HP. institute of Management Studies totu Shimla.
HP.INSTITUTE OF MANAGEMENT STUDIES.(HPIMS.)
Affiliated from H.P technical university, Hamirpur
OF THE JOB PROJECT
PROJECT TOPIC: Recruitment of financial consultant
& to study the roles and responsibility of Sales
development manager in HDFCSLIC.
SUBMITTED TO: - SUBMITTED BY: -
ISHTIYAK AH DAR
MBA 4SEM
Roll No. 9379

AKNOWLEDGEMENT
The statistical analyses of survey responses in this study reveal interesting I
would like to start by praying the almighty; which has been always help me and will
be the driving force of this mankind to give all of us the strength to achieve our set
goals and target. The compilation of a report not only requires time, effort and
energy but also valuable guidelines from various people.
I have great pleasure and privilege in expressing my deep sense of gratitude to my
supervisor Mr. Rajesh Sharma (Branch Manager) Gaurav Malhotra (H.R.
Executive) & Rajesh Kaushal (Territory manager) for his supervision, constant
encouragement, constructive criticism and valuable counsel.
Finally we also wish to thank HP.Institute of Management Studies for making this
experience of summer training in an esteemed organization like HDFC STANDARD
LIFE possible. The learning from this experience has been immense and would be
cherished throughout life.
Ishtiyak ah.

PREFACE
In today’s technology driven and competitive business environment learning new
skills and upgrading to existing ones are very vital. Education should compromise
not only book learning but also proper training of mind acquisition of practical
knowledge in the secret of success. The challenges and opportunities emerging in the
wake of globalization and liberalization of economics world, calls for a through
understanding of the various factors of Management.
Pursuing MBA in Hp.Institute Of Management Studies, Shimla provides me the
opportunities to develop my skill of managerial aspect. For my purpose I had the
privilege to have been associated with the India’s leading HDFCSLIC with a view to
obtain practical exposure in corporate world.

Table of Content
Serial
No.
Chapter
No.
Chapter Name Page
Number
1 Chapter
No. 1
Introduction
2 Chapter
No. 2
Review of literature
3 Chapter
No. 3
Research
Methodology
4 Chapter
No. 4
Data Analysis &
Interpretation
5 Chapter
No. 5
Conclusions &
Recommendation
6 . Bibliography
7 Questionnaire

CHAPTER NO 1
INTRODUCTION
(i) INTRODUCTION ABOUT THE
TOPIC
&
(ii) INTRODUCTION ABOUT
THE COMPANY

INSURANCE: DEFINITION AND FUNCTION
Insurance may be described as a social device to reduce or manage risk of
loss of life and property. Under the plan of insurance, a large no. of people associate
themselves by sharing risks attached to individuals. The risks which can be ensured
against include fire, the perils of sea, death and accidents and burglary. Any risk
contingent upon these may be insured against at a premium commensurate with the
risk involved. Thus collective bearing of risk is insurance.
DEFINITION
General definition:
In the words of John Magee, “Insurance is the plan by which large no. of people
associate themselves transfer to the shoulders of all, risks that attach to individuals.”
Fundamental definition:
In the words of D.S. Hansell, “Insurance may be defined as a social device
providing financial compensation for the affects of misfortune, the payment being

made from the accumulated contributions of all parties participating in the
scheme.”
Contractual definition:
In the words of Justice Tindall, “Insurance is a contract in which a sum of
money is paid to the assured as consideration of insurer’s incurring the risk of
paying, a large sum upon a given contingency.”
CHARACTERISTICS OF INSURANCE
*Sharing of risks
*Co-operative device
*Evaluation of risks
*Payment on happening of a specific event
*The amount of payment depends on the nature of losses incurred
*The success of insurance business depends on the large no. of people insured
against similar risk
*The insurance is a plan in which the insured transfers his risks on the
insurer
*Insurance is a legal contract which is based upon certain principles of
insurance which includes utmost good faith , insurable interest, contribution,
indemnity, causes proximal, subrogation etc.

*The scope of insurance is much wider and extensive.
FUNCTIONS OF INSURANCE:-
Primary functions-
1. Provide protection:- Insurance cannot check the happening of the risk, but
can provide for the losses of risk.
2. Collective bearing of risk:- Insurance is a device to share the financial losses
of few among many others.
3. Assessment of risk: - Insurance determines the probable volume by
evaluating various factors that gives rise to risk.
4. Provide certainty:- Insurance is device, which helps to change from
uncertainty to certainty.
Secondary functions-
1. Prevention of losses:- Insurance cautions businessman and individuals to
adopt suitable device to prevent unfortunate consequences of risk by observing
safety instructions.
2. Small capital to cover large risks:- Insurance relives the businessman from
security investment, by paying small amount of insurance against larger risks and
uncertainty.
3. Contributions towards development of larger industries.

ORIGIN AND DEVELOPMENT OF INSURANCE
Insurance in the modern form originated in the Mediterranean during 13/14th
century. The earliest references to insurance have been found in Babylonia, the
Greeks and the Romans. The use of insurance appeared in the account of north
Italian merchant banks who then dominated the international trade in Europe at
that time. Marine insurance is the oldest form of insurance followed by life
insurance and fire insurance. The patterns that have been used in England followed
in other countries also in these kinds of insurance. The origin and growth of Marine
Insurance, life insurance, fire insurance were miscellaneous.
LIFE INSURANCE
Life insurance may be defined as a contract in which the insurer, in
consideration of a certain premium, either in a lump sum or by other periodical
payments, agrees to pay to the assured, or to the person for those benefit the policy
is taken, the assured sum of money, on the happening of a specified event contingent
on the human life. A contract of life insurance, as in other forms of insurance,
requires that the assured must have the time of the contract an insurable interest in

his life upon which the insurance is affected. In a contract of life insurance, interest
has only to be proved at the date of the contract, and not necessarily present at the
time when the policy falls due.
A person can assure his life his own life and every part of it, and can insure for
any sum whatsoever, as he likes. Similarly, a wife has an insurable interest in her
husband and vice-versa. However, mere natural love and affection is not sufficient
to constitute an insurable interest. It must be shown that the person affecting
insurance on the life of another is so related to that other person as to have claim for
support. For example, a sister has an insurable in the life of a brother who supports
her.
A person not related to the other can have insurable interest on that other
person. For example, a creditor has insurable interest in the life of his debtor to the
extent of debt. A creditor can insure the life of his debtor up to the amount of debt,
at the time of issue of the policy. An employee has an insurable interest in the life of
the employer arising out of contractual obligation to employ him for a stipulated
period at fixed salary. Similarly, from an employer to the employee who is bound by
the contract to serve for a certain period of time.
LIFE INSURANCE CORPORATION
Till January 1956, life insurance in India was under the control of
private sector. After 19th January 1956 all life insurance business in India has been
nationalized. As a beginning, the Life Insurance ordinance was promulgated on the
18th January 1956. Thereafter Life Insurance act was passed and LIC came into
existence from 1st September 1956.

Organization of LIC
The LIC’s central office is situated in Mumbai. It has seven zonal offices in
India and three branches outside.
The internal organization and management of LIC comprises of:
I. Board of Directors
II. Committees corporation.
III. The chairman
IV. Managing Director
ROLE OF LIFE INSURANCE
Role 1: “Life Insurance as Investment”
Insurance is an attractive option for investment. While most people
recognize the risk hedging and tax saving potential of insurance, many are not
aware of its Advantages as an investment option as well. Insurance products yield

more compared to regular investment option and this is besides the added incentives
offered by insurers.
You cannot an compare an insurance product with other investment schemes for the
simple reason that it offers financial protection from, something that is missing in
non-insurance products.
In life insurance, unlike non-life products, you get maturity benefits on
survival at the end of the term. In other words, if you take a life insurance policy for
20 years and survive the term, the amount invested as a premium in the policy will
come back to you with added returns. In the unfortunate event of death with in the
tenure of the policy, the family of the deceased will receive the sum assured.
Now, let us compare insurance as an investment options. If you invest
Rs.10,000 in PPF your money grows to 10,950 at 9.5 percent interest over a year.
But in this case, the access to your funds will be limited. One can withdraw 5
percent of the initial deposit only after 4 years.
Same amount of Rs.10,000 can give you an insurance cover of up to approximately
Rs.5-40 times of premium (depending upon the plan(ULIP Youngstar), age and
medical condition of the life insured, etc.) and the amount he get in return on
maturity is 15% or more depend upon market which is far more then PPF amount
and if some miss happening can happened then risk cover can immediately available
to the nominee of the policy holder on the death.

Thus insurance is a unique investment avenue that delivers sound returns in
addition to protection.
Role 2: Life insurance as “Risk Cover”
First and foremost, insurance is about risk cover and protection-financial
protection, to be more precise to help outlast life’s unpredictable losses. Designed to
safeguard against losses suffered on account of any unforeseen event, insurance
provide you with that unique sense of security that no other form of investment
provides. By buying life insurance, you buy peace of mind and are prepared to face
any financial demand that would hit the family in case of an untimely demise.
To provide such protection, insurance firms collect contributions from many
people. who face the same risk .A loss claim is paid of the total premium collected by
the insurance companies, who act as trustees to the monies.
Insurance also provide a safeguard in the case of accidents of a drop in income
after retirement. An accident or disability can be devastating, and an insurance
policy can lend timely support to the family n such items. It also comes as a great
Help when you retire, in case no unknown incident happens during the term of the
policy. With the entry of private sector players in insurance, you have a wide range
of products and services to choose from further, many of these can be further

customized to fit individual or specific group needs. Considering the amount you
have to pay now, it’s worth buying some extra sleep.
Role 3: Life insurance as “Tax Planning”
Insurance serves as an excellent tax saving mechanism too. The government of
India has offered incentives to the life insurance products in order to facilitate the
flow of funds in to the productive assets under section 88 of income tax act 1961; an
individual is entitled to a rebate of 2 percent on the annual premium payable on his
or her life and life of his or her children or adult children. the rebate is deductible
from tax payable by the individual or a Hindu Undivided family. The rebate is
deductible from the tax payable by an individual or a Hindu undivided family. You
will be eligible for tax benefits under Section 80C and 10-10D of the income tax act
1961.Under section 80c you can save rs. 100000 are allowed as a deduction from
your taxable income.

INTRODUCTION about HDFCSLIC
HDFC Standard Life Insurance Company Limited. is one of India's leading
private insurance companies, which offers a range of individual and group
insurance solutions. It is a joint venture between Housing Development
Finance Corporation Limited (HDFC Limited), India's leading housing
finance institution and a Group Company of the Standard Life Plc, UK. As
on February 28, 2009 HDFC Ltd. holds 74% and Standard Life (Mauritius
Holding) 2006, Ltd. holds 26% of equity in the joint venture, while the rest is
held by others.
HDFC
 Market Leader in the Housing Finance Sector
 Over 2,00000 crores in Loan Approvals
 Customer base of over 2 million
 Stable and experienced management
 India’s largest housing finance institution

 Asset base over Rs. 100 billion
 International presence through service associates
 Highest Corporate governance rating AAA
from CRISIL and ICRA
Standard Life Assurance Company
 Europe’s largest mutual life assurance company founded in 1825
 AA2 rated by Standard & Poor’s and Moody’s
 Voted the ‘Company of the Decade’
 Total assets under management Rs. 5,81,000 crore
 Serving customers for over 180 years
 Voted 5 star life & Pensions provider for last 10 years
HDFC Limited

SECURITISATION
Future Activities
DISTRIBUTION HDFC CHUBB
GENERAL INSURANCE
CO. LTD.

Why HDFC Standard Life ?
 Brand Value & Recognition of the partners
 First Private Life Insurance Company to be licensed by IRDA
 First Company to Declare Bonus
 Presence in over 750 locations in India - largest branch network
 Market Share of 9.10 %
 Insures one life every 3 minutes
 Total Winner of Outlook Money 2003 & 2004 award as
‘Best New Insurer’
 Rated as India’s Most Respected Private Insurance Company by
Business world magazine (2004)
 Maximum No. of MDRT Qualifiers
 Over 6.5 lacks satisfied customers
Objectives
– State the benefits of selecting the right company
– Enlist the parameters of selecting a life insurance company

– List strengths of HDFC, Standard Life & HDFCSL
– Draw organization structure of HDFCSL as well as Retail
Team
– Describe your role as Sales Development Manager &
Channel Development Manager
HISTORY
HDFC STANDARD LIFE INSURANCE HOUSING DEVELOPMENT
FINANCE CORPORATION LIMITED (HDFC)
Founded in 1977, HDFC is today the market leader in housing finance in
India and has extended financial assistance to more than 15 lacks homes. HDFC has
more than 750 offices in India presently. It also has one international office in Dubai
and 3 Service Associates in Kuwait, Qatar, and the Sultanate of Oman. HDFC’s
asset base amounts to over Rs. 28,000 crores. Its financial strength is reflected in
highest safety ratings of ‘FAAA’ and ‘MAAA’ awarded by CRISIL and ICRA – two
of India’s leading credit rating agencies – respectively, for the last 6 years
consequently. It has a depositor base of over 16 lacks customers and a deposit
agent’s force of over 46,000 of the total deposits, 73% are sourced from individual

and trust depositors. Which demonstrates the tremendous confidence that retail
investors have in the company.
Being an institution that is strongly committed to the highest standards of
quality and excellence, HDFC has won several accolades in the past few years such
as “ Ramakrishna Bajaj National Quality Award” for the year 1999, this award was
instituted to award recognition to Indian companies for business excellence and
qualify achievement HDFC is the only company so far to receive this award.
STANDARD LIFE ASSURANCE COMPANY
Founded in 1825, Standard life has been at the forefront of the UK insurance
industry for 176 years by combining sound financial judgment with integrity and
reliability. The largest Mutual life Company in Europe, it has operations in the
United Kingdom, Ireland, Spain, Germany, Austria and Canada with representative
offices in Hong Kong and China.
One of its most recent successes was the launch of Standard Life Bank on 1st
January, 1998. The introduction of its innovative mortgage product in January 1999
has an immediate impact on the UK market, accounting for 11% of all new lending
within the first operational year. The current loans understanding amount to Rs.
43,300 crore.

Standard Life has total assets of Rs. $125 billion and new premium income last year
of Rs. 30,000 crore. Its UK investment portfolio accounts for approx 2% of all
shares listed in the London Stock Exchange. It is one of the few insurance
companies in the world to receive AAA rating from two of the leading international
credit rating agencies. Moody’s and Standard Z& Poor’s. The later described
Standard Life’s ability to meet its claims obligations as overwhelming under a
variety of economic conditions.
Standard life is rated as one of the strongest companies of the world, in financial
terms. The company’s reputation in the UK market remains unrivalled. Besides,
being voted ‘company of the year’ for overall service, for the third consecutive year,
Standard Life was recently voted ‘Company of the Decade’ by independent brokers.
INSURANCE REGULATORY DEVELOPMENT AUTHORITY
The opening up of the sector has been long standing and with the passing of
The Insurance Regulatory and Development Authority – IRDA bill a significant
help has been taken. IRDA is formed as an authority to protest the interests of
holders of insurance policies, to regulate promote, and ensure orderly growth of
insurance industry and for matters connected therewith or incidental thereto.

With the Insurance regulatory and Development Act, the focus shifted to the
following:
 The Insurance Regulatory and Development Authority (IRDA) should
given priority to health insurance while issuing certificates of registration.
 Policyholder’s funds will be invested in the social sector and
infrastructure. The percentage may be specified by the IRDA and such
regulations will apply to all insurers opening in the country.
 Insurers will be expected to undertake a certain percentage of business in
the rural or social sector and provide policies to persons residing in rural
areas, workers in the unorganized and informal economically basic.
 In case of the insurers fall to meet the social sector obligation a fine of Rs.
2.5mn would be imposed the first time. Subsequent failures would result
in cancellation of licenses.
Incorporation of HDFC Standard Life Insurance
Company Limited

The company was incorporated on 14th August 2000 under the name of the
HDFC Standard Life Insurance Company Limited. On the 23rd of October 2000,
HDFC Standard Life was the only life company to be granted a certificate of
registration.
HDFC are the main shareholders in HDFC Standard Life, with 74% while standard
Life owns 26%. Given standard Life’s existing investment in the HDFC Group, this
is the maximum investment allowed under current regulations.
Life Insurers:
Sr. No. Registration
Number
Date of
Registration
Name of the Company
1. 101 23.10.2000 HDFC Standard Life Insurance
Company Ltd.
2. 104 15.11.2000 Max New York Life Insurance Co.
Ltd.
3. 105 24.11.2000 ICICI Prudential Life Insurance
Company Ltd.
4. 107 10.01.2001 OM Kotak Mahindra Life Insurance
Co. Ltd.
5. 109 31.01.2001 Birla Sun Life Insurance Company
Ltd.

6. 110 12.02.2001 Tata AIG Life Insurance Company
Ltd.
7. 111 30.03.2001 SBI Life Insurance Company Ltd.
8. 114 02.08.2001 ING Vysya Life Insurance Company
Private Limited.
9. 116 03.08.2001 Bajaj Allianz Life Insurance
Company Ltd.
10. 117 06.08.2001 Metlife India Insurance Company Pvt.
Ltd.

The Retail sales Hierarchy of HDFC Standard
Life Insurance
General Manager
↓
Head Retail Sales
↓
Regional Branch Manager
↓
Business Development Managers
↓
Certified Financial Consultants

CEO OF THE COMPANY
Mr. Deepak S. Parekh
Mr. Deepak S. Parekh Is the Chairman of the Company. He is also the
Executive Chairman of Housing Development Finance Corporation Limited
(HDFC Limited). He joined HDFC Limited in a senior management position
in 1978. He was inducted as a whole-time director of HDFC Limited in 1985
and was appointed as its Executive Chairman in 1993. He is the Chief
Executive Officer of HDFC Limited. Mr. Parekh is a Fellow of the Institute of
Chartered Accountants (England & Wales).
Mr. Paresh Parasnis is the Principal Officer and Executive
Director of the company – HDFC SLIC
Mr. Paresh Parasnis

LIST OF DIRECTORS
Sir Alexander M. Crombie
Mr. Keki M. Mistry
Ms. Marcia D. Campbell
Ms. Renu S. Karnad
Mr. Norman K. Skeoch
Mr. Gautam R. Divan
Mr. Ranjan Pant
Mr. Ravi Narain
Mr. Gerald E. Grimstone
DEFINITION OF AN FINANCIAL CONSULTANT
• Section 182 of Indian Contract Act 1872 defines an FC as under
– person employed to do any act for another or to represent another in
dealing with a third person

 The person on whose behalf the FC works is called Principal
 Principal is bound by the actions of the FC
WHY INSURANCE IS A PROFESSION?
Agent is his
own Boss
‘paymas
ter’
Independent
work
Economic
Security
No fixed
rules of
work
No investment
No
forwarding

INSURER AS THE AGENT’S SPONSOR
The Insurer:
• Develops agency by sponsoring training of agents whom he wants
to license
• Issues license through a designated person
Designated Person:
An officer normally in charge of marketing operations as specified by
an insurer, and authorized by IRDA to issue or renews licenses
LICENSING OF FC
• Covered under IRDA (licensing of Insurance Agents) Regulations,
2000
• Criteria to become an agent laid down
• Training requirements specified
• Licensing & renewals by designated person only

• To be composite insurance agent, two separate applications
required
CRITERIA FOR BECOMING AN FINANCIAL
CONSUTANT
To become a financial consultant a person need some eligibility criteria.
In HDFCSLIC that criteria is known as Q5 Quality. If a person does not
fulfill of these criteria then however hard he may try, the person will
either not be able to become Financial Consultant or will not be eligible
for one. So Minimum a person should be Q3 for Financial Consultant.
• Age - Minimum 18-25-60 years
• Educational Qualification
– At least 10th standard (population of <5000)Rural
– At least 12th standard (population >5000)Urban
– Graduates in any streams

• Nativity : Minimum 2 Years in the City
• Marital Status : Married
• Sales Experience : 1 Year or more
• Time 6 hours or more per week
• Good personality
• Sound mental health
TRAINING REQUIREMENT FOR FC
IRDA Specifications:
• 50 hours in life / General Insurance
• For Composite Agent, at least 100 hours of practical training in
life and general insurance business combined
• Training to be conducted by an Institute approved and notified
by IRDA
• Training requirement reduced to 50% for those with qualification
such as CA, MBA, Associate/Fellow of Insurance Institute of
India etc.

PRE-RECRUITMENT TEST
To become an FC, the person
 Must qualify Pre-Recruitment Test conducted by body recognized
by IRDA
• Permitted to take test only if he has completed required number
of hours of training
• Must obtain at least 50% marks to pass the Pre Recruitment Test
LICENSING PROCESS

 Designated person issues license along with identity card valid
for three years – license fee is Rs. 250
• For renewal of license, agent must undergo additional training for
25 hours
• Designated person takes decision to renew license or not
• Application for renewal of license to be made at least 30 days
before expiry of license otherwise additional fee of Rs. 100
payable
CORPORATE FINANCIAL CONSULTANT
• A Firm, a Company, Co-operative society, Panchayat, or Local
Authority can be Corporate Agent and work for one Insurance
Company

• Designated partner or Director or any Officer designated as
Corporate Insurance Executive to undergo training and pass the
test
INSURANCE BROKERS
• Broker is a new channel of distribution of insurance products.
• While agent represents insurer, broker represents the client
• Broker to meet certain Capital criteria
• Broker can recommend to their clients product of any Insurance
Company
• Brokers have to undergo 100 hours training and pass the test
• License to insurance brokers issued by IRDA
• Three types of brokers – Direct Broker , Re-insurance Broker,
Composite Broker
TERMINATION OF AGENCY

Agency can also be terminated if Agent acquires any legal
disqualification
such as -
- Found to be minor
- Found to be of unsound mind
- Conviction for criminal misappropriation
- Criminal breach of trust
- Cheating or forgery
ROLE OF CONSULTANT IN UNDERWRITING
He submits a confidential report with each proposal form about health habit and
income of the proposer.
CODE OF CONDUCT FOR FC
• The Regulations prescribe a Code of Conduct for Agents

• The Code states that Agent shall identify himself and the insurer
he represents
• Do’s for Agents as per Code of Conduct
– Show the licence if prospect demands
– Explain all the options available to the client
– Recommend a plan suitable for client’s needs
– Disclose the commission he gets if enquired by the client
– Explain the nature & importance of information in the
Proposal Form. Impress upon the client to disclose all
information fully & truthfully
– Make all enquires about the prospect
– Inform insurer about anything material or habits which can
affect underwriting decision
– Inform the client about acceptance / rejection of risk
– Help clients to comply with the requirements asked for by
the insurer

– Advise policyholder to effect nomination / change etc.
– Ensure remittance of premium by the policyholder on due
dates by notice orally or in writing
– Dont’s for Fc as per Code of Conduct
- Not to induce the client to give wrong information
- Not to interfere the proposal introduced by other
agent
– Not to demand or receive a share in claim amount
– Not to ask the policyholder to discontinue existing policy
and to take new one.
WHY WAS IRDA ESTABLISHED?
TO REGULATE, PROMOTE & ENSURE ORDERLY GROWTH OF
LIFE INSURANCE
&

GENERAL INSURANCE INDUSTRY
IRDA MEMBERS
• Members are appointed by Central Govt.
• CHAIRPERSON
• WHOLETIME MEMBERS TENURE 5 YEARS
• PART TIME MEMBERS
Why Certified Financial consultant and not an
Financial Consultant
‘Certified’ because - a governing body of the insurance segment
called the IRDA certifies you ‘Financial consultant’ because –
• We believe you need to advice and recommend
the best solution to meet a client’s financial requirement.
Commission Structure of financial consultant

Support and Recognition
• Top quality training initially by the company
• Support of a dedicated Sales Development Manager
• First class pre and post sales support
• Lead Generation Support
• Marketing Support
First year 2nd year 3rd Year+ Bonus
Endowment 25% 5% 5% 15%
Money Back 25% 5% 5% 15%
Term Assurance (RP) 20% 5% 5% 15%
Loan Cover Term (RP) 20% 5% 5% 15%
PPP (RP) 7.50% 2% 2% NIL
SPWLP/ PPP (SP) 2% - -
ULEP 12.50% 4% 1% NIL
ULPP (RP) 7.50% 2% 1% NIL
Traditional Plan 40% 5% 5% NIL
Type of Plan
Rate of commision
Commission Structure of finanacial
consultant

• Recognition Programs - MDRT, Top Achievers Section
• Reward Programs
• Online Support
• Strong Brand Recognition
• 24 hours Customer Support
• Superior Product Portfolio
Star Performers Club
• Level 1: Star Centurion Club (upto 10% extra commission)
• Level 2: Gold Star Performers Club (5% extra commission)
• Level 3: Silver Star Performers Club (2.5% extra commission)
Club members are eligible for various privileges depending upon levels.
They can choose from an assortment of gifts ranging from mobile
phones, wrist watches, telephone answering machines, electronic
diaries,

Palmtops, PCs, two wheelers, cars, ACS, holiday packages etc,
subject to maximum limit applicable to him/her.
Quizzes & Contests
• Periodic Branch Level Contests
• National Level Contests
• Prizes ranging from Foreign Trips, Consumer Durables, Mobile
phones, Laptops, Palmtops, Handy-cams, Gold Coins etc.
• All Financial Consultants who qualify for National Level gets
Certificate of Achievement from the Head - Retail Sales
• Monthly Quizzes in ‘In Touch with Life’ – an in-house magazine
• Subscription to Insurance Monthly “Insurance Watch”

Who are we looking for ?
• Committed, have the drive, determination and openness to learn.
• Professional Out tour
• Ability to sell a range of financial products
• Looks forward to meeting & interacting with people
• Have the zeal to perform & excel
• Want to be a winner in life
Are you ready for the challenge ?
Of any approximate Rs. 50, 000 crore
by way of premium income – in the next 5 years

at least Rs 10,000 crore is available
by way of commission only.
The pie is huge; the challenge is of to get maximum
of this pie for you.
COMMENTS: During my survey I found that financial consultants are the back
Bone of the Insurance Industry. If a insurance Industry have Quality F.C. then
naturally that company is good in Business. The whole insurance industry works on
relationship and networking. According to my observations Financial consultant in
this industry can do more business if they can be little more Professional, build
strong relations with customers improve their communication, sharp their selling
skills, self motivator and can take some more initiative.

SALE
DEVELOMENT
MANAGER

MEANING OF SDM
SDM means sales developing manager. The main purpose of Sales
development manager is to recruit high performing Financial
Consultant, train & continuously motivating them to achieve sales
target effectively.
ROLES OF SDM
– Continually recruit the Quality Financial Consultant like Retired
Persons,salaried,CharteredAccountants,entrepreneurs/Businessm
en,students,housewives,brokers and Professionals for strong sales
team
– Trained them and continually motivate them for business
– Arranging Meetings and seminars for financial consultant
– Teaching them selling skills
– Providing them the data and documents that they required

– Distributing the updated information like contests to financial
consultant time to time
– Supporting the sales team 24 hours
– Make the strategies for continuity in Business
– Building the strong relations with financial consultants and
customers
– Giving targets to Financial consultants for effective Performance
– Getting reference for more recruitments and Business
– Learning continually from superior (Branch Manager) and
reporting and discussing the problems with him for better results
SAM OF SDM
Sam is a major and most important tool to get registered your day to
day activities done in the field.
Through SAM your performance will be reviewed and taken on daily
basis.

NEED OF KEY POINTS
– Activities performed on financial consultant recruitment
– Activities performed on business calls
– FC Visit review
– FC Team meetings /building
– Training of FC
– Increase the passing ratio of financial consultant by some extra
efforts
SDM OBJECTIVES AND STRATEGY FOR
SALES FORCE
The days when all the sales force did was "sell, sell, and sel1" are long gone. Sales
represantives need how to diagnose a customer's problem and propose a solution.
Sales people show a customer-prospect how their company can help a customer
Profitability.
Companies need to define the specific objectives they want their sales force to

achieve, For example, a company might want its sales representatives to spend 80
percent of their time with current customers and 20 percent with prospects, and 85
percent of their time on established products and 15 percent on new products. The
specific allocation scheme depends on the kind of products and customers, but
regardless of the selling context, salespeople will have one or more of the following
specific tasks to perform:
 Prospecting. Searching for prospects, or leads.
 Targeting. Deciding how to allocate their time among prospects and
customers.
 Communicating. Communicating information about the company's products
and services. .
 Selling. Approaching, presenting, answering questions, overcoming
objections, and closing sales.
 Servicing. Providing various services to the customers consulting on
problems, rendering technical assistance, arranging financing, expediting
delivery.
 Information gathering. Conducting market research and doing intelligence
work.
 Allocating. Deciding which customers will get scarce products during
product shortages.
Because of the expense, most companies are moving to the concept of a
leveraged sales force. A sales force focuses on selling the company's more
complex and customized products to large accounts, while low-end selling is
done by inside salespeople and through Web ordering. Tasks such as lead
generation, proposal writing, order fulfillment, and postsale support are turned
over to others. Salespeople handle fewer accounts, and are rewarded for key
account growth. This is far different from expecting salespeople to selling every
possible account, which is usually the weakness of geographically based sales
forces.

FLAG OF SDM
FAQ for Launch of FLAG 0607 1/6 FLAG 0676
FLAG – 0607
FAQ and Guideline Sheet
1. From when FLAG 0607 is effective
A FLAG 0607 is effective April 06
2. What does the program offers to the front line sales
A An opportunity to
Scale up in the sales hierarchy
Increase in CTC
Get recognized for his achievements
3. What are the new features of the program?

A
a) Target cycles of 9 month
b) 4 Cycles of targets thus 4 opportunity months
c) Early achievers will be rewarded early – Faster the better
d) Higher reward to high performers
e) LEAP targets included in the program
4. Which are the Measure of performance for which the targets are been
incorporated in
the program?
A The program focuses on three business targets:
- RNEP
- Active FC count
- Team size of FC
5. How is RNEP(Received Net Effective Premium) CALCULATED?
A RNEP calculation rules would be similar to the one applied for RNEP
calculations of
Sales incentive scheme
6. What is Active FC for the FLAG PROGRAM?

An FC would be considered active once he has one new conversion (new
business) in the month.
7. When does the program starts and ends?
The program starts with 1st target cycle. The duration of the target cycle is
nine months.
Joining Month Start Month of 1st Target Cycle
FLS joined before or on 31st March 06 The start month of the 1st target
cycle is
Apr 06 and the end month is Dec 06
Joinees joined after Mar 06
The start month of the 1st target cycle is
the subsequent month of the joining month
e.g. Joining month = Apr 06
1st Cycle start month = May 06
1st Cycle end month = Jan 07
6. If a FLS is not able to achieve the set targets of 1st target cycle, does
he/she has further opportunity to achieve?

The program will offer 4 target cycles; hence opportunity to scale to next
level comes four times.
9. How do the subsequent target cycle starts and ends?
A The table below represents the start month of 1st cycle and end month of
4 target cycles based on the joining month of FLS
The start month of the second and subsequent target cycles will be one-
month
ahead of start month of the previous cycle.
Annexure B provides guidelines on structure of consolidated excel
formats
of FLAG tracker
10. When would be the results declared?
A Every Month we would be taking stock of achievement of all the
participants for all the
MOPs under the program.
If any of the FLS has achieved all the MOPs then we would be taking a
waiting period

of one month for reconciling possible look ins / Cancellations happening of
the policies.
Comments: - During my survey what I found that sales Development Managers
are failed for effective business due to
1. Less extra efforts
2. Weak communications
3. Weak relations with financial consultants and customers
4.Weak Team
5. Lack of Coordination
6. Lack of Management
7. Not developing the leadership Qualities in Financial Consultants
8. Lack of Motivation
9. Negative Attitude
10. Job Dissatisfaction
11. Not able to approach and Train their Financial Consultants

And those who success in Effective Business are good in
1. Communications
2. Strong relations with customers and financial consultants
3. Take initiative
4. Great management
5. Positive attitude
6. Good selling skills
But in the end I can also say that Exception are always there.
HR ROLES AND PROCEDURES
A Center’s HR group has a key role in developing, introducing
and sustaining policies, practices and services for
accommodating spouses/partners. This role includes:
 supporting management in the development of Center
policy and practices for accommodating spouses/partners;
 advising job applicants and their spouses/partners about
the availability and application of these practices;
 exercising initiative, as much as possible, to
accommodate spouses’/partners’ needs prior to their move to
the duty station;
 ensuring that high-quality advice and assistance is
available to spouses/partners during their settling in to the
duty station;

 monitoring the needs of spouses/partners actively after
they settle in, and acting expeditiously to meet those
needs where possible;
 providing a range of support services to
spouses/partners, particularly in publicizing employment and
consultancy opportunities;
 providing support and guidance to spouse/partner
committees;
Reviewing the impact and effectiveness of the Center’s policy
and practices periodically, and reporting to senior management
with options for future refinements
HR ROLES
RECRUITMENT
1. TEST
2. INTERVIEW
3. SELECTION

4. CHECK REFERENCE
5. PREVIOUS CTC
6. ENTERTAINING
7. CHECK QUALIFICATION
8. REPORTING TO THEIR BM/SDM/BDM
9. FILL JOINING KITTS
10. PREAPARING RECORD
2. PROCESS ADHERENCE
 CHECK ATTENDANCE
 PREPARING OF RECRUITMENT TRACKERS
 MEDICLAIM UPDATION
 INVITATION TO ALL BRANCHES
 GROUP TERM INSURANCE
 GIVE OFFER LETTER
 PROVIDE BANK OPENING LETTER
 PROVIDE ACCEPTANCE LETTER
 PROVIDE RELEIVING LATTER

 RECORDS OF SALARY
3. GREIVANCE HANDLING
 EMPLOYEES COMPLAINTS
 PROVIDE SOLUTION
 MAILS TO H.O
 PROVIDE INFORMATION ABOUT ANY PREVIOUS
EMPLOYEES
 UPDATE THE DATA
 TAKING IMMEDIATE ACTION
 RESOLVE THE PROBLEM
EMPLOYEE ENGAGEMENT
 ORGANISE FUN SESSION
 FUNTOSH CLUB
 SAMOSA DAY
 FUN FLIPS DAY
 CELEBRATE ON EVERY FESTIVAL

 GIVE INFORMATION ABOUT NEW SCHEMES
ROLE OF GREEN PAGE
GREEN PAGE
Green page is the important document of the company. On a green page
you can access the different tools. Green page is very important because
employees of the organization can take any type of information through
the green page. Green page is the connected through the intranet in the
organization. You can check anything related to the employees like
Financial consultants, SDM can mark their attendance in empower.
Every employee can check their salary details.
EXAMPLE:
EMPOWER
USER NAME: YOUR EMPLOYEE NO.
PASSWORD: Default password for first time users is adnet 2003
Your problem period will be of three months from the date of joining
the services.
Post that you will be assessed for confirmation by your immediate
superior.

IN EMPOWER
.Mark you attendance/attendance regularization.
View your attendance record for the current year.
Give your leave request.
Take a record of your leaves taken in the past.
Mark your appraisal for the year.
You can avail three types of leaves during the year post your
confirmation.
.CL: Casual leaves 8 leaves per calendar year
.SL: Sick leave 15 leaves per calendar year
PL: Privilege 30 leaves per calendar year
CASUAL leaves lapse at the end of each calendar year and will not be
reward for accumulations.
MY COMPENSATION MANAGEMENT
Under this head you can a-----
View your pay slips for previous months.
Update your salary account no with specified
Bank of the organization.

View your PF statement
Declare your tax saving options for the current financial year.
View your tax deduction done so far the previous year.
View and download form 16 for previous year after spending
at least one year in organization.
View your eligibilities on leave travel allowance as well as
domiciliary mediclaim allowance.
VISION AND VALUES OF THE COMPANY
Vision Statement
“The most successful and admired life insurance company,
which means that we are the most trusted company,
the easiest to deal with, offer the best value for money
and set the standards in the industry.
In short, “ The most obvious choice for all”.

Values
• Innovation
• Customer Centric
• Joy & Simplicity
• Team Work
• One for all & all for one
• People care
Achievements
• Rated ‘Best New Insurer – 2003’,by Outlook Money
• Declared bonus Initiated Anti-rebating issues with IRDA,
Resulting in introduction of new guidelines for 4 consecutive years since
inception
• Ranked as ‘India’s 3rb Best Managed Company’ by Finance Asia -2005

SWOT Analysis OF HDFC SLIC
STRENGTHS WEAKNESSES
 Strong Brand Image
 Dedicated sales team
 Value added services.
 HDFC Bank
 Professional Environment
 Future Security
 Best services
 Best fund management
 Great Leader
 2nd most Recall Brand
 Global Expertise in Product
Development and & Training
 Distinguished characteristic in each
product from the competitors.
 Rigid Eligibility Criteria
 Weak Customer Relations
Management
 Centralized Structure
 Less motivation to Financial
consultant
 Unawareness in rural places about
company
 Lesser emphasis on marketing
activities

OPPORTUNITIES THREATS
 Large Untapped Market.
 Distinguishable product (children plan).
 More demand for insurance
 Increasing Population
 Positive attitude customers
 Presence of very strong competitors.
 Aggressive marketing by competitors.
 Various investment Schemes
 Market instability
Awards & Accolades
* India’s best managed company by Asia money magazine - 1995
and 1996
* Most competitive Indian company by Euromoney - 1997
* One of the 5 best Indian Boards by Business Today -1997
* Best presented accounts 1994-95 and 1996-97 (3rd place) - in the
SAARC region by the South Asian Federation of Accounts in the
financial sector category

* Rated as one of the best companies in India for strategy &
management and investor relations by Asia money - 1998
* Excellence in service industry by the Indian Institute of
Marketing Management & Top Management Club (Pune) -1998
* Shield for the best presented accounts for banks and financial
institutions - over 11 times (8 years in a row)
* 1999 IMC Ramakrishna Bajaj National Quality Award in the
service category
* CII-EXIM Bank Commendation Certificate for commitment to
Total Quality Management - 2000
* Asia money declared HDFC as the second best managed company
in India - 2001
* Euromoney identified HDFC as one of Asia’s top 10 best managed
companies in the finance sector - 2001
* Rated as the Best Non-Banking Financial Company in Asia by
Institutional Investor Research Group – 2002

CHAPTER NO 2
REVIEW OF
THE
LITERATURE

A literature review :-is a text written by someone to consider the critical points
of current knowledge including substantive findings, as well as theoretical and
methodological contributions to a particular topic. Literature reviews are secondary
sources, and as such, do not report any new or original experimental work. Also, a
literature review can be interpreted as a review of an abstract accomplishment.
Most often associated with academic-oriented literature, such as a thesis or peer-
reviewed article, a literature review usually precedes a research proposal and
results section. Its main goals are to situate the current study within the body of
literature and to provide context for the particular reader. Literature reviews are a
staple for research in nearly every academic field.
A systematic review is a literature review focused on a research question, trying to
identify, appraise, select and synthesize all high quality research evidence relevant
to that question. A meta analysis is typically a systematic review using statistical
methods to effectively combine the data used on all selected studies to produce a
more reliable result.
CHAPTER NO 3
RESEARCH
METHODOLOGY

 RESEARCH MEANING AND DEFINATION :-
Research comprises "creative work undertaken on a systematic
basis in order to increase the stock of knowledge, including knowledge of man, culture
and society, and the use of this stock of knowledge to devise new applications." It is
used to establish or confirm facts, reaffirm the results of previous work, solve new or
existing problems, support theorems, or develop new theories. A research project may
also be an expansion on past work in the field. To test the validity of instruments,
procedures, or experiments, research may replicate elements of prior projects, or the
project as a whole. The primary purposes of basic research (as opposed to applied
research) are documentation, discovery, interpretation, or the research and
development (R&D) of methods and systems for the advancement of human
knowledge. Approaches to research depend on epistemologies, which vary considerably
both within and between humanities and sciences. There are several forms of research:
scientific, humanities, artistic, economic, social, business, marketing, practitioner
research, etc.
Forms of research
 Artistic research:- also seen as 'practice-based research', can take form when
creative works are considered both the research and the object of research itself.
It is the debatable body of thought which offers an alternative to purely scientific
methods in research in its search for knowledge and truth.

 Research in the humanities :-involves different methods such as for example
hermeneutics and semiotics, and a different, more relativist epistemology.
Humanities scholars usually do not search for the ultimate correct answer to a
question, but instead explore the issues and details that surround it. Context is
always important, and context can be social, historical, political, cultural or
ethnic. An example of research in the humanities is historical research, which is
embodied in historical method. Historians use primary sources and other
evidence to systematically investigate a topic, and then to write histories in the
form of accounts of the past.
 Scientific research :- relies on the application of the scientific method, a
harnessing of curiosity. This research provides scientific information and
theories for the explanation of the nature and the properties of the world. It
makes practical applications possible. Scientific research is funded by public
authorities, by charitable organizations and by private groups, including many
companies. Scientific research can be subdivided into different classifications
according to their academic and application disciplines. Scientific research is a
widely used criterion for judging the standing of an academic institution, such as
business schools, but some argue that such is an inaccurate assessment of the
institution, because the quality of research does not tell about the quality of
teaching (these do not necessarily correlate totally)t such is an inaccurate
assessment of the institution, because the quality of research does not tell about
the quality of teaching (these do not necessarily correlate totally)
Generally, research is understood to follow a certain structural process. Though
step order may vary depending on the subject matter and researcher, the following
steps are usually part of most formal research, both basic and applied:
1. Observations and Formation of the topic: Consists of the subject area of ones
interest and following that subject area to conduct subject related research.
The subject area should not be randomly chosen since it requires reading a
vast amount of literature on the topic to determine the gap in the literature
the researcher intends to narrow. A keen interest in the chosen subject area
is advisable. The research will have to be justified by linking its importance
to already existing knowledge about the topic.
2. Hypothesis: A testable prediction which designates the relationship between
two or more variables.
3. Conceptual definition: Description of a concept by relating it to other
concepts.
4. Operational definition: Details in regards to defining the variables and how
they will be measured/assessed in the study.

5. Gathering of data: Consists of identifying a population and selecting samples,
gathering information from and/or about these samples by using specific
research instruments. The instruments used for data collection must be valid
and reliable.
6. Analysis of data: Involves breaking down the individual pieces of data in
order to draw conclusions about it.
7. Data Interpretation: This can be represented through tables, figures and
pictures, and then described in words.
8. Test, revising of hypothesis
9. Conclusion, reiteration if necessary
A common misconception is that a hypothesis will be proven (see, rather, Null
hypothesis). Generally a hypothesis is used to make predictions that can be tested by
observing the outcome of an experiment. If the outcome is inconsistent with the
hypothesis, then the hypothesis is rejected (see falsifiability). However, if the
outcome is consistent with the hypothesis, the experiment is said to support the
hypothesis. This careful language is used because researchers recognize that
alternative hypotheses may also be consistent with the observations. In this sense, a
hypothesis can never be proven, but rather only supported by surviving rounds of
scientific testing and, eventually, becoming widely thought of as true.
A useful hypothesis allows prediction and within the accuracy of observation of the
time, the prediction will be verified. As the accuracy of observation improves with
time, the hypothesis may no longer provide an accurate prediction. In this case a
new hypothesis will arise to challenge the old, and to the extent that the new
hypothesis makes more accurate predictions than the old, the new will supplant it.
Researchers can also use a null hypothesis, which state no relationship or difference
between the independent or dependent variables. A null hypothesis uses a sample of
all possible people to make a conclusion about the population.

Steps in conducting research:-
Research is often conducted using the hourglass model structure of research. The
hourglass model starts with a broad spectrum for research, focusing in on the
required information through the method of the project (like the neck of the
hourglass), then expands the research in the form of discussion and results. The
major steps in conducting research are:
 Identification of research problem
 Literature review
 Specifying the purpose of research
 Determine specific research questions or hypotheses
 Data collection
 Analyzing and interpreting the data
 Reporting and evaluating research
 Communicating the research findings and, possibly, recommendations
The steps generally represent the overall process, however they should be viewed as
an ever-changing iterative process rather than a fixed set of steps. Most researches
begin with a general statement of the problem, or rather, the purpose for engaging
in the study. The literature review identifies flaws or holes in previous research
which provides justification for the study. Often, a literature review is conducted in
a given subject area before a research question is identified. A gap in the current
literature, as identified by a researcher, then engenders a research question. The
research question may be parallel to the hypothesis. The hypothesis is the
supposition to be tested. The researcher(s) collects data to test the hypothesis. The
researcher(s) then analyzes and interprets the data via a variety of statistical
methods, engaging in what is known as Empirical research. The results of the data
analysis in confirming or failing to reject the Null hypothesis are then reported and
evaluated. At the end the researcher may discuss avenues for further research.
Rudolph Rummel says, "... no researcher should accept any one or two tests as
definitive. It is only when a range of tests are consistent over many kinds of data,
researchers, and methods can one have confidence in the results."
Research Design

This is a descriptive type of research because it is a type of conclusive
research which has a major objective of description of something, i.e. Public
opinion about financial consultant.
Objective of the Study:
1-How to recruit the Financial Consultants.
2-How to apply the management skills
3-learning and implementing the selling skills and selling the insurance
plans in the market
Even some other important objectives are also given to me like:
1. learn the time management
2. learn the official documentary work
3. learn the roles and responsibility of sales development Manager
4. learn how to become a good leader & motivator
So these are some objectives given to me for my study.
Thus keeping this in mind following benefits can be drafted out form this project:

1. This project will help in identifying the most strong & most weak source of
awareness, so that adequate promotional strategies for different segments of the
market could be worked out.
2. This Project will give an insight to the most important factors which influence a
person to work as a financial consultant in Insurance sector.
3. The advertisement recall will be helpful in identifying those Medias which needs
to be worked upon and to be strengthened.
4. The project will give a picture about what image does a company have in the
minds of people so that appropriate positioning strategies could be framed.
NEED
During this survey I learn so many things like what is the basic need of an financial
consultant. Financial consultant is the backbone of the insurance industry.
The whole field work has to done to the financial consultant and it is only a financial
consultant who brings the business for the company. So recruiting the quality
financial consultant Who have a great prestige in the market (eg.Pradhan, Charted
Accountants, income tax officer)is very important for the company. If a company
has quality financial consulatants then company is good in business and in output.

But if a company does not have good financial consultant then it is failed to give the
required output to the company. So about my objective i.e. recruitment of the
financial consultant is an important work for an insurance organization. It is an
base of the insurance sector on what whole industry is depends upon.
Scope
The scope of my study is so wide in the insurance sector. Recruiting the financial
consultant is an part of retail sales. So person who recruits the financial consultant
can become a channel development manager and sales development manager. And a
person who is a financial consultant can also become an sales development manager
but he or she should have to clear some criteria of the target like he or she should be
a gold club qualifier and he or she must be minimum graduate. Those criteria

Should have to be accomplished with in one year. And he or she can grow more in
this sector up to a top level. So in this sector I find a lots of scope for any person.
Limitations:
I don’t find any limitation in my study because this organization works on trust,
transparency and best services.
SURVEY
The important part of this study was survey. The survey was conducted in
Mandi. The purpose of the survey is to awareness of people about Financial
Consultant.

For any survey Questionnaire plays a vital role. A Questionnaire decides the
success of the survey. There should be following characteristics of an Questionnaire.
1) There should be continuity in the questions.
2) All Questions should be linked with the required information of study.
3) The language used in questionnaire should be easy.
4) The Questionnaire should not very or very long.
5) There should be more objective questions than Subjective questions.
After considering all these main areas of effective Questionnaire, We made an
Questionnaire and conduct the Survey. To find out the awareness of financial
consultant of HDFC standard life insurance sector in Mandi is not easy because of
geographical and demographic situations in Mandi.Mandi are not a big city. It has
the population of just over 2 Lakhs also the middle class and poor population is high
in this city.
So for this research I used some different techniques also like sending sms and
callings to the people from a telephonic data, which I collect from the
communication shops and some series idea about the local numbers.
Sample

Sample size 100
Sample unit people
Sample area Mandi
Data collection
The sources from which I collected the data are as following:-
Primary Data:
Data is collected through personal interviews and potential customers with
the help of Questionnaire having questions related to Hdfc standard Life Insurance
and financial consultants. But first of all it was necessary to collect information
related to company itself, its product, its competitor’s products and many more. It
was also essential to study the criteria to become an financial consultant and his or
her roles and responsibility to get a film idea about this project.
Secondary Data:
This type of data is collected from various sites of Internet and print media.
1. Primary Data
 Ner chowk

 Mandi
2. Secondary Data
 Websites
 News Papers
Magazines

CHAPTER NO 4
DATA ANALYSIS

AND
INTERPRETATION
DATA ANALYSIS AND INTERPRETATION
Data Analysis
After the data have been collected I turns to the analyzing them. Thus I
classify the raw data into some purposeful and usable categories. For this chart is
used to explain about the conclusion of the survey. and I try my best to know
the customer’s point of view regarding Hdfc standard life and Recruitment of
Financial Consultant. For getting customer’s point of view Questionnaire is made.
Sample size is 100 from Distt. Mandi.

Data Interpretation
In this step, I seek to explain findings on the basis of some theory. The
process of interpretation may quite often trigger off new questions which in turn
may lead to further researches. Data was interpreted and inferences were drawn
and transformed to meaningful information so that accurate decision can be taken.
Conclusion:
About the Hdfcslic and insurance sector it is concluded that the ratio in
the output is very less. Only 85 % people are aware about the insurance
but they do not know exactly how much insurance is beneficial to them.
As per the recruitment work it is founded that recruitment approach
ratio is also very less. It is only 60% and only 30% people can be ready
to work as an financial consultants and from them only 47% people can
came for the IRDA training from that only 23% is passing ratio of the

exam and only 7% from them can work seriously and become active
financial consultant. From the another observation and data it is also
concluded that only 12% people are insured and 88 % people are
uninsured in the market.
QUESTIONNAIER
During my summer training I made a questionnaire for recruitment of financial
consultant. I did survey in Mandi (H.P) Area and try to get maximum true answers
from people. That questionnaire is in given formats:
1. Recruitments of financial consultants
DATED:
EVALUATION QUESTIONER
NAME:
ADDRESS:
CONTACT NO :

EDUCATION:
(Please specify last Education Qualification, Institute & Marks)
WORK HISTORY:
 WHAT DID YOU LIKE THE MOST ABOUT YOUR PREVIOUS JOB?
 WHAT DID YOU DISLIKE THE MOST ABOUT THAT JOB?
 WHAT DO YOU LIKE THE MOST ABOUT YOUR CURRENT JOB?
WHY?
 WHAT DO YOU DISLIKE THE MOST ABOUT THIS JOB?
WHAT, TO YOUR MIND, ARE THE CHARACTERISTICS OF A SUCCESSFUL
SALES PERSON?
1.
ORGANIZATION/OCCUPATION
PERIOD
NATURE OF JOB RESPONSIBILITES INCOMEFROM TO
CURRENT JOB
PREVIOUS JOB

2.
CAN YOU NAME THE FIRST THREE PEOPLE THAT COME TO YPOU MIND
WHAN YOU THINK OF THESE CHARACTERISTICS? THESE SHOULD BE
THE ONES THAT YOU HAVE PERSONALLY INTERACTED WITH.
NAME ADDRESS CONTACT NO.
1.
2.
3.
 Did u listen about Life Insurance?
 Did u listen about HDFCSLIC?
 Does u know what a financial consultant is?
 Are u insured?
ELIGIBILITY ON Q-SCORE:

AGE
MARITAL STATUS
QUALIFICATION
GENDER
LIVING IN THE CITY FOR 5 YEARS
TOTAL POINTS SCORED
SIGNATURE RECRUITER
Conclusion about Questionnaire: this questionnaire helps a lot in
recruitments of financial consultant. Through that questionnaire I got
so many new contact and reference that become my prospects for
financial consultants.

CUTOMER’S VIEWS TOWARDS FINANCIAL
COUNSULTANT AND CONCLUSION
INSURANCE AWARNESS 85%
Recruitment approach ratio 60%
Recruitment ratio (F.C’s) 30%
TRAINIG RATIO 47%
PASSING RATIO 23%
Active Ratio 7%
INSURED PEOPLE 12%
UNINSURED PEOPLE 88%

BIBLIOGRAPHY
1-www.google.com
2-www.standardchartered.com
3-www.hdfcinsurance.com


hdfc fincial consultant by ishtiyak ah

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