This document is a project report submitted by Ankit Kumar for his Bachelor of Business Administration degree. The report focuses on distribution enhancements for Reliance Life Insurance. It includes an executive summary, introduction to the company, objectives of the project, research methodology used, findings from recruiting new advisors, recommendations, and conclusion. The main points are identifying different customer profiles to recruit as insurance advisors, conducting a market survey on life insurance training programs and top centers, and analyzing competitors of Reliance Life Insurance.

1. Project report
On
Reliance life insurance
Distribution enhancements
Submitted in partial fulfillment of the degree of
BACHELOR OF BUSINESS ADMINISTRATION
Session: 2012-2013
Under Guidance of:
Submitted By:
Mr. Pulkit Gupta Ankit
kumar
BBA VI Sem
Roll No.
11206524

2. STUDENT DECLARATION
I here by declare that the training report entitled the “Recruitment of
Advisors" is completed and submitted under the guidance of Mr. Pulkit
Gupta (Faculty, Management) in my original work.
The imperial finding in this report is based on the data collected by me
this project is not submitted to any other University for the compliance
of any examination or Degree.
ANKIT KUMAR
BBA (VI Sem)
11206524

3. ACKNOWLEGEMENT
Today’s environment accomplished by any academic or
professional pursuit requires contribution from various individuals.
Firstly, I want to take the opportunity to express my deep sense of
gratitude to our respected Sales Manager Mr. Sourabh Pandey, who
provided me an opportunity to do my summer project in the Reliance
life Insurance.
First of all I would like to thank my project guide Mr. Pulkit
Gupta(faculty,management) them & providing me with the necessary
guidance & help at every step.
I hereby take the opportunity to express my profound sense of
gratitude and reverence to all those who have helped me towards the
successful completion of the project at Reliance Life Insurance.
I, sincerely acknowledge the help, encouragement and valuable
suggestion to me Mr. Sagar Sharma, (Sales Manager). Without his
guidance and active support I would not have been able to do my winter
project successfully.
It has given me a complete insight about how an organization not
only survives a cut throat competition but also mention killer instinct in
this competitive world.
Date:
Place:
EXECUTIVE SUMMARY

4. Identifying different profile’s of the people and giving them a business
opportunity to join Reliance Life Insurance.
“A market survey was done on Life Insurance companies. Different question
regarding the companies training programs for agents, top 5 up’s centers etc
were asked. The areas covered up in this survey were Bareilly The report
contains details of different life insurance companies which are in healthy
competition with Reliance Life Insurance.”
Insurance industry is growing rapidly day by day. India itself has a population
of 1.2 billion out of which roughly 6.5% people are insured. This clearly shows
that most of the people are not insured just because they don’tknow much about
insurance. Most people have some common queries about life insurance.

5. CONTENTS
1. Introduction
2. About the company:
o Company profile
 Mission of the co.
 Key strength
o Growth of the company
3. Objective
4. Private life insurance players: Head to head
5. Research Methodology
6. RecruitmentProcess
7. Findings
8. Recommendations & Suggestion
9. Conclusion
10. Bibliography

6. INTRODUCTION
Few men in history have made as dramatic a
contribution to their country’s economic fortunes as
did the founder of Reliance, Sh. Dhirubhai H
Ambani. Fewer still have left behind a legacy that is
more enduring and timeless.
As with all great pioneers, there is more than one unique way of describing the
true genius of Dhirubhai: The corporate visionary, the unmatched strategist, the
proud patriot, the leader of men, the architect of India’s capital markets, the
champion of shareholder interest. But the role Dhirubhai cherished most was
perhaps that of India’s greatest wealth creator. In one lifetime, he built, starting
from the proverbial scratch, India’s largest private sector enterprise.
When Dhirubhai embarked on his first business venture, he had a seed capital of
barely US$ 300 (around Rs 14,000). Over the next three and a half decades, he
converted this fledgling enterprise into a Rs 60,000 crore colossus—an
achievement which earned Reliance a place on the global Fortune 500 list, the
first ever Indian private company to do so.
Dhirubhai is widely regarded as the father of India’s capital markets. In 1977,
when Reliance Textile Industries Limited first went public, the Indian stock
market was a place patronised by a small club of elite investors which dabbled
in a handful of stocks. Undaunted, Dhirubhai managed to convince a large
number of first-time retail investors to participate in the unfolding Reliance
story and put their hard-earned money in the Reliance Textile IPO, promising
them, in exchange for their trust, substantial return on their investments. It was
to be the start of one of great stories of mutual respect and reciprocal gain in the
Indian markets. Under Dhirubhai’s extraordinary vision and leadership,
Reliance scripted one of the greatest growth stories in corporate history
anywhere in the world, and went on to become India’s largest private sector
enterprise.
Through out this amazing journey, Dhirubhai always kept the interests of the
ordinary shareholder uppermost in mind, in the process making millionaires out
of many of the initial investors in the Reliance stock, and creating one of the
world’s largest shareholder families.

7. Life Insurance
A policy that will pay a specified sum to beneficiaries upon the death of the
insured. An agreement that guarantees the payment of a stated amount of
monetary benefits upon death of the insured.
Need Of Insurance
Insurance is the protection of life and assets against unforeseen circumstance.
Whether it is a general accident policy, a Mediclaim policy or a pension policy,
an insurance policy helps you to scope with uncertainty and insecurity.
Ever thought about why you should take an insurance policy. For one, it helps
you to hedge risks against unforeseen circumstances and save more. If that's not
all, it is:
 Superior to an ordinary savings plan as it provides full protection against
risk of death.
 Encourages and forces compulsory savings unlike other saving
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.
 Offers tax relief to policyholders.
 Hedges risk against uncertainty.
 For a policy taken under the MWP Act 1874, (Married Women's Property
Act), a trust is created for wife and children as beneficiaries.

8.  Based on the concept of sharing of losses, the society will benefit as
catastrophic losses are spread globally.
Life Insurance Policy Holder
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.

9. Use Of Life Insurance Policy
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 a contract with an Insurance Company under which the insured
(purchaser) pays a premium in exchange for coverage of specified losses. Life
Insurance protects your family against the risk of the 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 the course of our life we are accosted by risk-that of failing health, financial
losses, accidents and so on. Insurance is a means 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 a mechanism that eliminates risk-substituting certainty for
uncertainty primarily by transferring risk from the insured to the insurer.

11. Life insurance as 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 protect the family of the policyholder in the
event of unforeseen happening. It is the only saving instrument, which covers
the life risk besides giving tax concession both at entry (premium paid) and at
exit points. The section 10 (D) of the income tax act totally exempts payment of
tax on any amount received as bonus against Life Insurance Policies.

12. INSURANCE INDUSTRY PROFILE
The Insurance landscape in India is undergoing major change. Closed to foreign
competition since nationalization in 1956, the Life Insurance industry had been
protected from competitive pressures. Now, with the re-opening of the sector,
several new players have entered the scene.
The game is old but the rules are new and still developing. Ensconced in a
monopoly run from the nationalization days beginning in 1956, the insurance
industry has indeed awakened to a deregulated environment in which several
private players have partnered with multinational insurance giants.
However, despite its teeming 1 billion population, India still has a low insurance
penetration of 1.95%, 51st in the world. Despite the fact that India boasts a
saving rate of around 25% < 5% is spent on Insurance.

13. COMPANY PROFILE
Reliance Life Insurance Company Ltd is a part of Reliance Capital Ltd. Of the
Reliance – “Anil Dhirubhai Ambani Group”. Reliance Capital is one of India’s
leading private sector financial services companies and ranks among the top
three private sector financial services and banking companies in terms of net
worth. Reliance Capital has interest in asset management and mutual funds
stock broking life and general insurance proprietary investments, private equity
and other activities in financial services.
Anil Ambani’s Reliance Life Insurance Company Ltd. A subsidiary of Reliance
Capital Ltd. Has conducted a much awaited deal in the life insurance sector.
The Reliance had approached the Insurance Regulatory and Development
Authority (IRDA) to revive its business license that had been cancelled by the
regulator for non-commencement of business.
What is clear is that Reliance Life has clearly outbid others suitors like Aviva,
ICICI Prudential. ICICI Prudential began its operations in India in December
2000. It is among the first private sector insurance companies to get the
approval from Insurance Regulatory Development Authority (IRDA). ICICI
Prudential’s equity base stands at Rs. 1185 crore with ICICI Bank and
Prudential plc holding 74% and 26% stake respectively. Until Sep 30, 2005, the
company wrote 283,818 policies. Inn the process, it has garnered Rs 820 crore
of new business premiums for a total sum assured of Rs 7,131 crore. For the
past four years, ICICI Prudential has been donning the No. 1 position in the
private life insurance sector in the country. It has a wide range of flexible
products that meet the needs of the Indian customer at every step.
Its Registered Office
Reliance Life Insurance Company Limited,
Regd. Office: H Block,
1st Floor, Dhirubhai Ambani Knowledge City.
Nai Mumbai, Maharastra- 400710
Visit us at:

14. www.reliance.co.in

15. HISTORY OF COMPANY
Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of
the Reliance - Anil Dhirubhai Ambani Group. Reliance Capital is one of India’s
leading private sector 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 Capital Limited (RCL) is a Non-Banking Financial Company (NBFC)
registered with the Reserve Bank of India under section 45-IA of the Reserve
Bank of India Act, 1934.
Reliance Capital sees immense potential in the rapidly growing financial
services sector in India and aims to become a dominant player in this industry
and offer fully integrated financial services.
Reliance Life Insurance is another step forward for Reliance Capital Limited to
offer need based Life Insurance solutions to individuals and Corporate

16. VISION OF COMPANY
To be the dominant new player in the Line Insurance Industry.
This will be achieved through:
 Recruitment of quality advisors.
 Intensive product training.
 Selling skill training.
 Superior technology and processes.
 Innovative financial solutions.
Achievements so far!
 Leading Private Life Insurance Company.
 Strong brand recognition.
 Every 2.75 minutes we cover life.
 State of the art support services.

17. Organizational Structure (Hierarchy)
SALES
MANAGER
BRANCH MANAGER
SALES
MANAGER
SALES
MANAGER
ASST. BRANCH MANAGER
25-30 ADVISOR UNDER EACH SALES MANAGER

18. COMPETITORS
Although for the last 50 years LIC has been the only company to create the
consumer needs in the insurance sector but in the past 5 years 21 insurance
companies have emerged in this scenario :
 ICICI Prudential Life.
 Reliance Life Insurance.
 Birla Sun Life.
 Bajaj Allianz.
 Max New York Life.
 Met Life.
 ING Vyasa.
 Om Kotak Mahindra.
 Tata AIG.
 Aviva.
 HDFC Standard Life.
 SBI Life.
 Iffko-tokio.
 Bharti.
 Pnb life.
New players need to recognize the limitations of their rival and decide upon the
right mix of distribution channels in their business.
Reliance Life Insurance is another steps forward for Reliance Capital Ltd to
offer need based Life Insurance solution to individuals and corporate.

19. PROJECT PROFILE
Reliance Child Plan
As a parent, it is only natural to dream of a smooth and blissful life for your
child. Which is exactly why you need to secure your child’s tomorrow, today.
Reliance Child Plan helps you save systematically so that you can give your
child the much-needed financial security in the future. Simply put, Reliance
Child Plan gives you the freedom to enjoy every moment with your child today,
without worrying about his/her tomorrow.
Key Features
 Risk protection for you during the term of the Policy
 Accumulated bonus at the end of the Policy Term
 25% of Sum Assured payable every year as lump sum Benefit during the
last four Policy Anniversaries
 All future premiums are waived in the event of unfortunate loss of life
 Guaranteed Fixed Benefits continue even after loss of life of the
Policyholder
 More value for your money by way of High Sum Assured Rebate
 Choose to add the Benefit of two Riders – Critical Illness and Accidental
Death Benefit and Total and Permanent Disablement Rider
 Policy participates in profit even after the loss of life of the Life Assured.
How does this Plan work?
You pay premium every year for the entire term and get guaranteed Fixed
Benefits every year during the last four years of the Policy Term. On death,
your Beneficiary will get the Sum Assured, guaranteed Fixed Benefits on
specified dates and all future premiums will be waived. All attached bonuses are
payable at the end of the Policy Term and will remain attached to your Policy
even after payment of Life Cover Benefit.
Benefits

20. Life Cover Benefit: In the unfortunate event of loss of life, your Beneficiary
will receive the Sum Assured immediately and all future premiums will be
waived.
Guaranteed Fixed Benefit: Get 25% of Sum Assured every year on the last
four Policy Anniversaries irrespective of the survival of the Life Assured. For
example if you have taken a Policy for Rs 1 lakh for 20 years, then Fixed
Benefits payable will be Rs 25,000 each at the end of 17th, 18th, 19th and 20th
year.
Maturity Benefit: On maturity you get accumulated bonuses irrespective of the
survival of the Life Assured.
Rider Benefit: You also have the option to add two additional Benefits to
customize the policy as per your needs.
A. Accidental Death Benefit and Total and Permanent Disablement Rider
B. Critical Conditions Rider
Accidental Death Benefit & Total & Permanent Disablement Rider
Accidents are unfortunate and sometimes fatal. You can customize your basic
Policy with an Accidental Death Benefit and Total and Permanent Disablement
Rider. The Accidental Death Benefit is payable if death occurs directly as a
result of an accident and is intimated within 90 days of its occurrence. The
Benefit payable is equal to the Rider Sum Assured. The minimum Sum Assured
is Rs 25,000 and the maximum under all Policies taken together is Rs
50,00,000.
The Total and Permanent Disablement Benefit is payable if the Life
Assured becomes totally and permanently disabled directly as a result
of an accident. The Disability Benefit is equal to the basic Sum Assured paid in
ten equal annual instalments.
Total and Permanent Disablement is defined as the total and irrecoverable loss
of sight of both eyes, or loss by severance of two limbs at or above wrist or
ankle, or total and irrecoverable loss of the sight of one eye and loss by
severance of one limb at or above wrist or ankle for a period of at least six
months.

21. Inbuilt Waiver of Premium
If the Life Assured becomes totally and permanently disabled, then
Reliance Life Insurance will waive all future premiums under the
basic Policy and Riders up to a limit of Rs 40,000 p. a.
Accidental Death Benefit &Total & Permanent Disablement Rider
Age at entry 18 yrs 59 yrs
Age at expiry 25 yrs 64 yrs
Sum Assured Rs 25,000 Rs 50,000
(Basic Policy Sum
Assured subject to
a maximum of
Rs 50,00,000 per life)
Exclusions
The Company will not pay any Accidental Death Claim and Total and
Permanent Disablement Claim, which results directly or indirectly from any one
or more of the following:
 An act or attempted act of self-injury
 Participation in any criminal or illegal act
 Being under the influence of alcohol or drugs except under direction of a
registered medical practitioner
 Racing or practicing racing of any kind other than on foot
 Flying or attempting to fly in, or using or attempting to use, an aerial
device of any description, other than as a fare paying passenger on a
recognised airline or charter service
 Participating in any riot, strike or civil commotion, active military, naval,
air force, police or similar service, or

22.  War, invasion, act of foreign enemies, hostilities or war like operations
(whether war be declared or not), civil war, mutiny, military rising,
insurrection, rebellion, military or usurped power or any act of terrorism
or violence.
Critical Illness Rider
Sudden onset of a major illness causes worries and heavy expenses. Our
optional Critical Conditions Cover helps provide financial relief in such
cases. It pays you the Sum Assured upfront in respect of ten major illnesses.
a) Cancer
b) Coronary Artery Bypass Surgery
c) Heart Attack
d) Stroke
e) Kidney Failure
f) Aorta Surgery
g) Coma
h) Heart Valve Replacement
i) Major Organ Transplant
j) Paralysis
This Benefit can be availed only once against any one of the illnesses and
the Company will not pay the claim if it arises from deliberate self-injury or
attempted suicide by the Life Assured, whether sane or insane. This Benefit
will only be given, if the diseases are confirmed by a Consultant Physician.
Critical Illness Rider
Age at entry 18 yrs 55 yrs
Age at expiry 25 yrs 64 yrs
Sum assured Rs 1,00,000 Rs 10,00,000
(Basic Policy Sum Assured
subject to
a maximum of Rs 10,00,000
per life)
Minimum
Policy Term 5

23. Exclusions
Cancer: Any CIN stage (Cervical Intraepithelial Neoplasia); any pre-malignant
tumour; any non-invasive cancer (cancer in situ); prostate cancer stage 1 (T1a,
1b, 1c); all skin cancers including malignant melanoma stage IA (T1a N0 M0);
any malignant tumour in the presence of any Human Immunodeficiency Virus.
Heart Attack: Non-ST-segment Elevation Myocardial Infarction (NSTEMI)
with elevation of Troponin I or T; other acute Coronary
Syndromes.
Stroke: Transient Ischemic Attacks (TIA); neurological symptoms due to
migraine.
Coronary Artery (Bypass) Surgery: Angioplasty and/or any other intra-
arterial procedures; key-hole surgery.
Paralysis: Paralysis due to Guillain-Barré Syndrome.
Waiting and Survival Period
The Company will not pay the Critical Illness Benefit if:
 The critical illness begins prior to or within six months of the
commencement date or date of reinstatement of the Benefit - Waiting
Period
 Death from critical illness takes place within 30 days of the onset of the
same – Survival Period
Flexibility
These Riders maybe attached to your Policy at the beginning or at any Policy
Anniversary during the term of the Contract, subject to underwriting conditions
prevailing at that time. Sum Assured for Critical Illness Rider may be increased
or decreased by the Policyholder:

24. • The increase is subject to underwriting conditions
• Once decreased, further increases will not be allowed
The Contract can be terminated and opted for only once, by the Policyholder at
any time. Though these are general conditions of the Rider, we may specify
restrictions (like time of exercise) on the above options. Such restrictions would
be filed along with the based product filing.
Sample Premiums
The tables below illustrate the indicative premiums for an individual Life
Assured across different Sum Assured for a Policy Term of 15, 18 and 20 years.
Age/Term(yrs) 15 18 20
Sum 30 7665 6230 5520
Assured: 35 7830 6415 5720
Rs 1 lakh 40 8115 6720 6045
45 8655 7290 6630
Age/Term(yrs) 15 18 20
Sum 30 22695 18390 16260
Assured: 35 23190 18945 16860
Rs 3 lakh 40 24045 19860 17835
45 25665 21570 19590
Age/Term(yrs) 15 18 20
Sum 30 37325 30150 26600
Assured: 35 38150 31075 27600
Rs 5 lakh 40 39575 32600 29225
45 42275 35450 32150
What is the Policy Term?
Minimum Policy Term: 5 years
Maximum Policy Term: 20 years
Who can buy this product?
Minimum age at entry: 20 years
Maximum age at entry: 60 years
Minimum age at maturity: 25 years
Maximum age at maturity: 70 years

25. What is the Sum Assured?
Minimum Sum Assured: Rs 25,000
Maximum Sum Assured: No Limit
Savings and accumulation through bonuses
The Company will declare simple reversionary bonus which is
payable at maturity (i.e. at the end of the Policy Term).
More value for money – High Sum Assured Rebate
Reliance Child Plan offers an attractive premium discount for Sum
Assured over and above Rs 99,999 as mentioned below. For example,
as per the tabular premium rates, the Annual Premium for a 30 year
old male for a 20 year Policy for Rs 5 lakh Sum Assured comes to
Rs 28,100 before the High Sum Assured Rebate. After the High
Sum Assured Rebate, the premium is Rs 26,600.
Sum Assured Range High Sum Assured Rebate
Rs 1,00,000 – Rs 2,49,000 Re 1 per 1,000 Sum Assured
Rs 2,50,000 – Rs 4,99,000 Rs 2 per 1,000 Sum Assured
Rs 5,00,000 – Rs 9,99,000 Rs 3 per 1,000 Sum Assured
Rs 10,00,000 and above Rs 4 per 1,000 Sum Assured
Waiver of Premium Benefit
In the event of unfortunate loss of life, your child is completely protected. The
Company waives the entire future premium apart from paying the Sum Assured
to the Beneficiary. In additions all the Fixed Benefits are paid as and when due.
Bonuses will remain attached to your Policy and are payable at maturity.
Can I take a loan against my Policy?
Yes, you can take loan against your Policy. The Policy Loan can be up to a
maximum of 90% of the Surrender Value of the Policy at the time of taking the
loan based on the terms and conditions at that time. This facility is available
after premium payment of three full years and after three years have elapsed
from date of commencement of the Policy. The interest will be charged on any
outstanding loan at a rate of interest set by us, from time to time.
What happens if I discontinue paying premium?
During the first three years, if premiums are not paid within the grace period the
Policy will lapse. After the first three years if premiums are not paid within the
grace period the Policy will be made ‘Paid up’ and the Sum Assured will be

26. reduced, firstly, in the proportion of completed duration to original Policy term
and secondly, by the amount of periodic lump sum
payments already made. Any accumulated bonuses attached to this Policy will
remain attached in full. Once this Policy becomes ‘Paid-up’, no further bonuses
are payable. You will receive the ‘Paid-up’ Sum Assured in the event of loss of
life. Once the Policy becomes paid-up any outstanding Fixed
Benefits will be reduced to the paid up Sum Assured divided by the number of
outstanding Fixed Benefits. On maturity, the accumulated bonuses up to the
date of ‘Paid-up’ are paid.
What if I want to discontinue the Policy?
We provide you the option to surrender your Policy and receive the Surrender
Value. If your Policy has accumulated any bonuses, then you
will also receive the cash value of that total amount upon surrendering your
Policy. Your plan acquires a Surrender Value after three years premium has
been paid and after three years have elapsed from date of commencement of
Policy. We guarantee a minimum Surrender Value of 30% of the total premiums
paid (excluding any extra premiums and premiums for additional benefits)
subsequent to the first year premium, less the total of any periodic lump sum
Fixed Benefits already paid under this Policy. On surrender, the insurance
protection provided under the Policy
will also cease.
Can I revive a Policy which is lapsed?
A lapsed Policy can be reinstated for full Benefits anytime before the date of
maturity at terms and conditions required by the Company.
Flexible Premium Payment Modes
a) Yearly
b) Half-yearly
c) Quarterly
d) Monthly (with salary deduction schemes only)
Grace Period
One month or 30 days from the due date for the payment of premiums.
Tax Benefit
Premiums paid are eligible for tax deduction under Section 80C and 80D of the
Income Tax Act, 1961. Maturity and Death Benefit are tax free under Section
10 (10D) of the Income Tax Act, 1961. Under Section 80C, premiums upto Rs
1,00,000 are allowed as deduction from your taxable income. Under Section
80D premium upto Rs 10,000 (Rs 15,000 for senior citizens) are allowed as
deduction

27. from your taxable income.
(80D - Applicable to Critical Conditions Premium)
General Exclusions
The Company will not pay any claim on death if the Life Assured,
whether sane or insane, commits suicide within 12 months from the
date of issue of this Policy or the date of any reinstatement of this Policy.
15 Days Free Look Period
The Policyholder may cancel this Policy by returning it to the Company
within 15 days of receiving it together with a letter requesting it be cancelled.
The Company will refund the premium paid by the Policyholder less a
deduction:
 Of the proportionate premium for the time cover has been provided till
cancellation
 Of expenses incurred by the Company for medical examination of the
Life Assured, Stamp Charges and expenses incurred in that connection.
Reliance Term Plan
( Protect yourself …….
……. Protect your loved ones)
“Life, as we know, is full of uncertainties. And to keep ahead of them, you need
to plan ahead. Reliance Term Plan is a pure Life Insurance Plan that offers you
comprehensive and affordable coverage for a limited period of time to suit your
needs.”
Key Features
 Get higher insurance protection at economical rates
 Optional Accidental and Disablement Rider to enhance protection
 Economical way to protect your family against financial liabilities like
loss of income and outstanding loans etc.
 Discount on premium rates for women
 Suitable for business owners who want to cover the life of their key
employees

28. How does this Plan work?
You pay premium every year for the entire Policy Term. On death your
Beneficiary will get the Sum Assured. There is no Maturity Benefit under this
plan.
Benefits
Life Cover Benefit: In the unfortunate event of loss of life, your beneficiary
will receive the Sum Assured. Maturity Benefit: There is no Maturity Benefit
payable under this Policy.
Rider Benefit: You also have the option to add Accidental Death Benefit and
Total and Permanent Disablement Rider.
Accidental Death Benefit & Total & Permanent Disablement Rider
Accidents are unfortunate and sometimes fatal. You can customize your basic
Policy with an Accidental Death Benefit and Total and Permanent Disablement
Rider. The Accidental Death Benefit is payable if death occurs directly as a
result of an accident and is intimated within 90 days of its occurrence. The
Benefit payable is equal to the Rider Sum Assured. The minimum Sum Assured
is Rs 25,000 and the maximum under all Policies taken together is Rs
50,00,000. The Total and Permanent Disablement Rider is payable if the Life
Assured becomes totally and permanently disabled directly as a result of an
accident. The Disablement Benefit is equal to the basic Sum Assured paid in ten
equal annual instalments. Total and Permanent Disablement is defined as the
total and irrecoverable loss of sight of both eyes, or loss by severance of two
limbs at or above wrist or ankle, or total and irrecoverable loss of the sight of
one eye and loss by severance of one limb at or above wrist or ankle for a period
of at least six months.
Inbuilt Waiver of Premium
If the Life Assured becomes totally and permanently disabled, then Reliance
Life Insurance will waive all future premiums under the basic Policy and Riders
up to a limit of Rs 40,000 p. a.
Accidental Death Benefit & Total & Permanent Disablement Rider
Age at entry 18 yrs 59 yrs
Age at expiry 25 yrs 64 yrs
Sum assured Rs 25,000 Rs 50,00,000
(Basic Policy Sum
Assured subject to
a maximum of Rs
50,00,000 per life)
Exclusions

29. The Company will not pay any Accidental Death Claim and Total and
Permanent Disablement Claim which results directly or indirectly from any one
or more of the following:
 An act or attempted act of self-injury
 Participation in any criminal or illegal act
 Being under the influence of alcohol or drugs except under direction of a
registered medical practitioner
 Racing or practicing racing of any kind other than on foot
 Flying or attempting to fly in, or using or attempting to use, an aerial
device of any description, other than as a fare paying passenger on a
recognised airline or charter service
 Participating in any riot, strike or civil commotion, active military, naval,
air force, police or similar service, or
 War, invasion, act of foreign enemies, hostilities or war like operations
(whether war be declared or not), civil war, mutiny, military rising,
insurrection, rebellion, military or usurped power or any act of terrorism
or violence.
Flexibility
This Rider can be attached to your Policy at the beginning or at any Policy
Anniversary during the term of the Contract, subject to
underwriting conditions prevailing at that time.
Sample Premiums
The tables below illustrate the indicative premiums for a male Life
Assured across different Sum Assured and ages for Policy Term of
20, 25 and 30 years.
Age/Term(yrs) 20 25 30
Sum 30 2600 3070 3640
Assured: 35 3630 4380 5260
Rs 10 lakh 40 5400 6540 NA
45 8220 NA NA
Age/Term(yrs) 20 25 30
Sum 30 3650 4355 5210
Assured: 35 5195 6320 7640
Rs 15 lakh 40 7850 9560 NA
45 12080 NA NA
Age/Term(yrs) 20 25 30
Sum 30 4700 5640 6780

30. Assured: 35 6760 8260 10020
Rs 20 lakh 40 10300 12580 NA
45 15940 NA NA
What is the Policy Term?
Minimum Policy Term: 5 years
Maximum Policy Term: 30 years
Who can buy this product?
Minimum age at entry: 21 years
Maximum age at entry: 60 years
Maximum age at maturity: 65 years
What is the Sum Assured?
Minimum Sum Assured: Rs 2,50,000
Maximum Sum Assured: No Limit
Minimum Premium: Rs 2,000 per instalment
What happens if I discontinue paying premium?
The Policy will lapse if the premiums are not paid within the grace period. The
grace period is one month but not less than 30 days. However, you have the
option to revive the Policy within three years from the date of lapse subject to
revival conditions. The Policy is not eligible for any Paid-up or Surrender
Value.
Flexible Premium Payment Modes?
a) Yearly
b) Half-yearly
c) Quarterly
The Company will charge a Policy Fee, depending on the Premium
Payment Mode selected by you.
Advantage Women
Women Policyholders have an advantage as they receive discount on premium
paid. For the basic Policy, basic premium payable will be equivalent to the
premium for a three-year younger male Policyholder.

31. Tax Benefit
Premiums paid are eligible for tax deduction under Section 80C of the Income
Tax Act, 1961. Death Benefit is tax free under Section 10 (10D) of the Income
Tax Act, 1961. Under Section 80C, premiums paid up to Rs 1,00,000 are
allowed as deduction from your taxable income.
General Exclusion
The Company will not pay any claim on death if the Life Assured,
whether sane or insane, commits suicide within 12 months from the date of
issue of this Policy or the date of any reinstatement of this Policy.
15 Day Free Look Period
The Policyholder may cancel this Policy by returning it to the
Company within 15 days of receiving it together with a letter
requesting it be cancelled.
The Company will refund the premium paid by the Policyholder
less a deduction:
 Of the proportionate premium for the time cover has been provided till
cancellation
 Of expenses incurred by the Company for medical examination of the
Life Assured, Stamp Charges and expenses incurred in that connection.
Reliance Endowment Plan
It takes a lot for a dream to become a reality. And money is surely an important
part of it. Reliance Endowment Plan gives you just the financial independence
to realise your dreams in the future. It lets you decide how
much you would like to set as your Sum Assured based on your current
financial position and your expected future expenses. So, go ahead... dream!!
Key Features
 On maturity receive Sum Assured plus bonuses
 Wealth creation through bonus additions

32.  More value for your money by way of High Sum Assured Rebate
 Increase your insurance protection by adding Term Cover
 Choose to pay Regular or Single Premium
 Choose to add the Benefit of two Riders - Critical Illness Rider and
Accidental Death Benefit and Total and Permanent Disablement Rider
 Choose to avail of a Policy Loan after three full years of premium
payment
How does this Plan work?
You pay premium every year for the entire term and get Sum Assured
plus accumulated bonuses at maturity. On death, your Beneficiary
will get the Sum Assured plus accumulated bonuses.
Benefits
Maturity Benefit: On maturity you get Sum Assured plus accumulated bonuses
(if any) till that date.
Life Cover Benefit: In the unfortunate event of loss of life, your family will
receive the Sum Assured plus accumulated bonuses (if any) till that date.
Rider Benefit: You also have the option to add three additional Benefits
to customise the Policy as per your needs for the regular premium plan:
A. Term Life Insurance Benefit Rider
B. Accidental Death Benefit and Total and Permanent Disablement Rider
C. Critical Illness Rider
Term Life Insurance Benefit Rider
Add the advantage of the Term Life Insurance Benefit Rider to your basic
Policy and increase risk coverage. In the event of unfortunate loss of life, the
Term Life Insurance Benefit Rider is payable and the amount payable is equal
to the Rider Sum Assured. There is no Maturity Benefit.
Term Insurance Minimum / Maximum age at 18 / 59 years entry
Maximum age at 64 yrs (Policy Anniversary immediately expiry following age)
Sum Assured Rs 1,00,000 Equal to basic Policy Sum Assured
Policy Term Equal to basic Policy Term Accidental Death Benefit & Total &
Permanent Disablement Rider Accidents are unfortunate and sometimes fatal.
You can customize your basic Policy with an Accidental Death Benefit and
Total and Permanent Disablement Rider. The Accidental Death Benefit is
payable if death occurs directly as a result of an accident and is intimated within

33. 90 days of the occurrence. The Benefit payable is equal to the Rider Sum
Assured. The minimum Sum Assured is Rs 25,000 and the maximum under all
Policies taken together is Rs 50,00,000. The Total and Permanent Disablement
Benefit is payable if the Life Assured becomes totally and permanently disabled
directly as a result of an accident. The Disablement Benefit is equal to the basic
Sum Assured paid in ten equal annual instalments. Total and Permanent
Disablement is defined as the total and
irrecoverable loss of sight of both eyes, or loss by severance of two
limbs at or above wrist or ankle, or total and irrecoverable loss of the
sight of one eye and loss by severance of one limb at or above wrist or
ankle for a period of at least six months.
Inbuilt Waiver of Premiums
If the Life Assured becomes totally and permanently disabled, then
Reliance Life Insurance will waive all future premiums under the
basic Policy and Riders up to a limit of Rs 40,000 p. a.
Accidental Death Benefit & Total & Permanent Disablement Rider
Age at entry 18 yrs 59 yrs
Age at expiry 25 yrs 64 yrs
Sum assured Rs 25,000 Rs 50,00,000
(basic policy sum
assured subject to a
maximum of Rs
50,00,000 per life)
Exclusions
The Company will not pay any Accidental Death Claim and Total
and Permanent Disablement Claim which result directly or indirectly
from any one or more of the following:
 An act or attempted act of self-injury
 Participation in any criminal or illegal act
 Being under the influence of alcohol or drugs except under direction of a
registered medical practitioner

34.  Racing or practicing racing of any kind other than on foot
 Flying or attempting to fly in, or using or attempting to use, an aerial
device of any description, other than as a fare paying passenger on a
recognised airline or charter service.
 Participating in any riot, strike or civil commotion, active military naval,
air force, police or similar service, or
 War, invasion, act of foreign enemies, hostilities or war like operations
(whether war be declared or not), civil war, mutiny, military rising,
insurrection, rebellion, military or usurped power or any act of terrorism
or violence.
Critical Illness Rider
Sudden onset of a major illness causes worries and heavy expenses.
Our optional Critical Conditions Cover helps provide financial relief
in such cases. It pays you the Sum Assured upfront in respect of ten
major illnesses.
a) Cancer
b) Coronary Artery Bypass Surgery
c) Heart Attack
d) Stroke
e) Kidney Failure
f) Aorta Surgery
g) Coma
h) Heart Valve Replacement
i) Major Organ Transplant
j) Paralysis
This Benefit can be availed only once against any one of the illnesses
and the Company will not pay the claim if it arises from deliberate
self-injury or attempted suicide by the Life Assured, whether sane or
insane. This Benefit will only be given, if the diseases are confirmed
by a Consultant Physician.

35. Exclusions
Cancer: Any CIN stage (Cervical Intraepithelial Neoplasia); any
pre-malignant tumour; any non-invasive cancer (cancer in situ);
prostate cancer stage 1 (T1a, 1b, 1c); all skin cancers including
malignant melanoma stage IA (T1a N0 M0); any malignant tumour
in the presence of any Human Immunodeficiency Virus.
Heart Attack: Non-ST-segment Elevation Myocardial Infarction
(NSTEMI) with elevation of Troponin I or T; other acute Coronary
Syndromes.
Stroke: Transient Ischemic Attacks (TIA); neurological symptoms due
to migraine.
Coronary Artery (Bypass) Surgery: Angioplasty and/or any other
intra-arterial procedures; key-hole surgery.
Paralysis: Paralysis due to Guillain-Barré Syndrome.
Waiting and Survival Period
The Company will not pay the Critical Illness Benefit if:
 The critical illness begins prior to or within six months of the
commencement date or date of reinstatement of the
Critical Illness Rider
Age at entry 18 yrs 55 yrs
Age at expiry 25 yrs 64 yrs
Sum assured Rs 1,00,000 Rs 10,00,000
(Basic Policy Sum Assured
subject to
a maximum of Rs 10,00,000
per life)
Minimum
Policy Term 5

36.  Death from critical illness takes place within 30 days of the onset of the
same – Survival Period
Flexibility
These Riders may be attached to your Policy at the beginning or at
any Policy Anniversary during the term of the Contract, subject to
underwriting conditions prevailing at that time.
Sum Assured for Critical Illness Rider may be increased or decreased
by the Policyholder:
 The increase is subject to underwriting conditions
 Once decreased, further increases will not be allowed
The Contract can be terminated and opted for only once by the
Policyholder at any time. Though these are general conditions of the
Rider, we may specify restrictions (like time of exercise) on the above
options. Such restrictions would be filed along with the based
product filing.
Sample Premiums
The tables below illustrate the indicative annual premiums for
individual Life Assured across different Sum Assured and ages for a
Policy Term of 20, 25 and 30 years.
Age/Term(yrs) 20 25 30
Sum 30 7425 5360 4175
Assured: 35 7550 5500 4350
Rs 1 lakh 40 7740 5730 4630
45 8145 6175 5115
Age/Term(yrs) 20 25 30
Sum 30 21975 15780 12225
Assured: 35 22350 16200 12750
Rs 3 lakh 40 22920 16890 13590
45 24135 18225 15045
Age/Term(yrs) 20 25 30
Sum 30 36125 25800 29875
Assured: 35 36750 26500 20750

37. Rs 5 lakh 40 37700 27650 22150
45 39725 29875 24575
( The premium paying term is 5 years less than the policy term)
Indicative Maturity Benefit
The table below illustrates the Indicative Maturity Benefits for
different Sum Assured levels for an individual across different terms.
Total maturity benefit (Rs) @ 6% Total maturity benefit(Rs)@10%
Sum
assured
Term
20 25 30 20 25 30
Rs 100,000 148595 164061 181136 180611 209378 242726
Rs 300,000 445784 492182 543408 541833 628133 728179
Rs 500,000 742974 820303 905681 903056 1046889 1213631
*(The above Maturity Benefits are calculated for an illustrative gross
investment return of 6% & 10% as stipulated by IRDA.)
What is the Policy Term?
Minimum Policy Term: 5 years
Maximum Policy Term: Regular Premium - 35 years
Single Premium - 15 years
Who can buy this product?
Minimum age at entry: 5 years
Maximum age at entry: 65 years
Minimum age at maturity: 18 years
Maximum age at maturity: 75 years
What is the Sum Assured?
Minimum Sum Assured: Regular Premium - Rs 25,000 For Single Premium it is
determined by the minimum premium
Maximum Sum Assured: Entry age below 18 years - Rs 5,00,000
Entry age 18 years and above - No Limit
Savings and accumulation through bonuses

38. The Company will declare compounded reversionary bonus, which is
payable at maturity or on death, whichever is earlier.
More value for money – High Sum Assured Rebate
Reliance Endowment Plan offers an attractive premium discount for
Sum Assured over and above Rs 99,999.
For example, as per the tabular premium rates, the Annual Premium
for a 30 year old male, a 25 year policy of Rs 5 lakh Sum Assured
comes to Rs 19,165 before the High Sum Assured Rebate. After the
High Sum Assured Rebate, the premium is Rs 17,665.
Sum Assured Range High Sum Assured Rebate
Rs 1,00,000 – Rs 2,49,000 Re 1 per 1,000 Sum Assured
Rs 2,50,000 – Rs 4,99,000 Rs 2 per 1,000 Sum Assured
Rs 5,00,000 – Rs 9,99,000 Rs 3 per 1,000 Sum Assured
Rs 10,00,000 and above Rs 4 per 1,000 Sum Assured
Tax Benefits
Premiums paid are eligible for tax deduction under Section 80C and
80D of the Income Tax Act, 1961. Maturity and Death Benefit is tax free under
Section 10 (10D) of the Income Tax Act, 1961. Under Section 80C, premiums
upto Rs 1,00,000 are allowed as deduction from your taxable income. Under
Section 80D premium upto Rs 10,000 (Rs 15,000 for senior citizens) are
allowed as deduction from your taxable income.
(80D - Applicable to Critical Conditions Premium)
Can I take a Loan against my Policy?
The Policy Loan can be up to a maximum of 90% of the Surrender Value of the
Policy at the time of taking the loan based on the terms and conditions at that
time. This facility is available on your Regular Premium Plan after payment of
three full years premium and after three years have elapsed from date of
commencement of the Policy. However this facility is available immediately, in
case of the Single Premium Plan. The interest will be charged on any
outstanding loan at a rate of interest set by the company, from time to time.

39. What happens if I discontinue paying premium?
During the first three years, if premiums are not paid within the grace
period the Policy will lapse.
If you discontinue paying the premium after paying premium for three full
years, then your Policy will be converted in to a ‘Paid-up’ Policy for a reduced
Sum Assured determined in the same proportion as the amount of premiums
actually paid bears to the total amount of premiums payable. The life insurance
protection will continue to the extent of the ‘Paid-up’ Value until the end of the
Policy Term.
Any accumulated bonuses attached to this Policy will remain attached
in full. Once this Policy becomes ‘Paid-up’, no further bonuses are
payable. You will receive the ‘Paid-up’ Sum Assured plus bonuses on
the maturity date of the Policy or in the event of loss of life.
What if I want to discontinue the Policy?
You have the option to surrender your Policy and receive the Surrender Value.
If your Policy has accumulated any bonuses, then you will also receive the cash
value of that total amount upon surrendering your Policy.
Your single premium plan acquires a Surrender Value as soon as you
pay your premium. We guarantee a minimum Surrender Value of 70% of the
Single Premium paid excluding any extra premium plus the cash Surrender
Value of any vested bonuses. Your regular premium plan acquires a Surrender
Value after three years premium has been paid and after three years have
elapsed from date of commencement of Policy. We guarantee a minimum
Surrender Value of 30% of the total premiums paid (excluding any extra
premiums and premiums for additional benefits) subsequent to the first year
premium, plus the cash Surrender Value of any vested bonuses. On surrender,
the insurance protection provided under the Policy will also cease.
Can I revive a policy which is lapsed?
A lapsed Policy can be reinstated for full Benefits anytime before the
date of maturity at terms and conditions required by the Company.
Flexible Premium Payment Modes
a) Yearly with minimum premium payment of Rs 2,000
b) Half-yearly with minimum premium payment of Rs 1,500
c) Quarterly with minimum premium payment of Rs 750
d) Monthly (only with salary deduction schemes) with minimum
premium payment of Rs 250
e) Single Premium with minimum premium payment of Rs 25,000
Grace period
Regular Premium - one month or 30 days from the due date for

40. payment of premiums
Monthly Premium - 15 days
General Exclusion
The Company will not pay any claim on death of the Life Assured,
whether sane or insane, commits suicide within 12 months from
the date of issue of this Policy or the date of any reinstatement of
this Policy.
15 days Free Look Period
The Policyholder may cancel this Policy by returning it to the Company within
15 days of receiving it together with a letter requesting it be cancelled.
The Company will refund the premium paid by the Policyholder less a
deduction:
 Of the proportionate premium for the time cover has been provided till
cancellation.
 Of expenses incurred by the Company for medical examination of the
Life Assured, Stamp Charges and expenses incurred in that connection

41. Reliance Money Guarantee Plan
Under this plan the investment risk in the investment portfolio is borne by the
policyholder. It's a trio the pace setter plan, which promises Life Protection, an
opportunity to gain control over your investments along with protection of
downside risk!
For the select few like you, the Reliance Money Guarantee Plan is a Unit
Linked product addressing comprehensive need to strike that perfect balance of
Protection and Savings, that you deserve as you grow successfully. The
Reliance Money Guarantee Plan is a Regular Premium Unit Linked Policy
which guarantees the entire premium (including premiums for top- ups) paid by
you. This is a plan which helps you reap all the benefits of a rising market
simultaneously protecting you from the downside risk of the market.
Key Features
 Capital Guarantee The sum of all premiums paid is guaranteed on
maturity or on death before the maturity.
 Capital Guarantee is available on both the basic premiums as well as on
top-up premiums
 Unique Return Shield feature to protect your returns
 Choice to invest from 3 pre-packaged investment fund options
 Unmatched flexibility through our ‘Exchange Option’ to move between
the Reliance Money Guarantee suite of products offered, as you grow up
the ladder
 Liquidity in the form of partial withdrawals from top-up fund
 Option to package with Accidental Death & Disability and Term
Insurance riders
How does this Plan work?
The premium contributed by you net of Premium Allocation Charges and
Miscellaneous Charge is invested in fund option of your choice for a specified
period of time as selected by you and units are allocated depending on the price
of units for the fund/funds. The Fund Value is the total value of units that you
hold in the fund. The Policy has a minimum Guaranteed Fund Value which is
equal to total of all premiums paid (excluding any additional and extra
premiums if any), to be payable on survival to maturity or earlier death. The
amount of top-up premiums paid is also guaranteed on death provided there is
no partial withdrawal. The amount of top-ups premium is guaranteed on
maturity provided the top-ups premium was paid at least 10 years before the
date of maturity and there is no partial withdrawal. The Sum Assured under the

42. Policy is fixed on the basis of the selected annual premium and Policy Term.
The Mortality Charges and Policy Administration Charges are deducted through
cancellation of units whereas the Fund Management Charge is priced in the Unit
Value. The premiums for riders, if selected, are payable over and above the
premium for the basic Policy.
Benefits in Details
Capital Guarantee: The plan offers Capital Guarantee provided the Policy is
kept in full force by payment of due premiums on time.
Capital Guarantee under the Basic Plan: Premiums paid under the Basic Plan
are guaranteed on the maturity of the Policy or on death during the Policy Term.
Capital Guarantee under the Top-Up premiums: Each top-up premium paid
is guaranteed on death during the Policy Term provided there are no partial
withdrawals from that top-up. Each top-up premium paid is guaranteed on
maturity of the Policy provided the Policy Term is greater than ten years, there
are no partial withdrawals from that top-up and the top-up was paid ten years
before the maturity date.
Life Cover Benefit: The amount of Death Benefit depends on the age of the
Life Assured at the time of death
 If the age of the Life Assured at the time of death is more than 12 years
last birthday while the Policy is in force, the Company will pay the sum
of:
o Higher of (Sum Assured, Fund Value as on date of intimation of
death under Basic Plan, Premiums paid under the Basic Plan
excluding any extra or additional premiums paid.)
o Higher of (Fund Value as on date of intimation of death under top-
ups and top-up premium paid provided no partial withdrawal is
made from that top-up)
 However if the Life Assured's age at the time of death is less than or
equal to 12 years last birthday while the Policy is in force, the Death
Benefit will be the sum of:
 Higher of (Fund Value as on date of intimation of death under Basic Plan
and premiums paid under the Basic Plan excluding any extra or additional
premiums paid)
 Higher of (Fund Value as on date of intimation of death under top- ups
and top-up premium paid provided no partial withdrawal is made from
that top-up)
 The Policy terminates on payment of the Death Benefit.
 Maturity Benefit: The Maturity Benefit is the sum of

43.  Higher of (Fund Value under Basic Plan and Premiums paid under Basic
Plan excluding any extra or additional premiums paid)
 Maturity Benefit under Top-Up
If Policy Term is greater than ten years, the Maturity Benefit under top-
up is the higher of ( Fund Value under the top-up and top-up premium
paid provided there is no partial withdrawal from that top-up)
If Policy Term is ten years, the Maturity Benefit under the top-up is the
Fund Value under the top-up.
The Policy Terminates on payment of the Maturity Benefit.
Sum Assured
The fixed Sum Assured under the Basic Plan will be calculated as the amount of
annual premiums payable for half the Policy Term
Rider Benefit: You can add Accidental Death & Accidental Total and
Permanent Disablement Benefit Rider & Term Life Insurance Benefit Rider.
What are the different fund options?
a. Funds available in respect of Basic Plan and top-up premium
The plan offers three funds for Basic Plan and top-ups - Fund D, Fund E
and Fund F. You have the option to decide your own fund mix with
respect to premiums under the Basic Plan and top-ups.
b. Funds available in respect of Return Shield Option
Return Shield Fund will be available if Return Shield Option is selected.
The returns earned under the Basic Plan and top-ups will be transferred to
Return Shield Fund if Return Shield option is selected.
c. Funds available during settlement period
If you have opted for the settlement option, then Fund C would apply by
default during the settlement period.
Unit pricing & Cut-off Timings
Value of Units: The computation of Unit Value will be based on whether the
Company is purchasing (Appropriation Price) or selling (Expropriation Price)
the Assets in order to meet the day to day transactions of Unit Allocations and
Unit Redemptions i.e. the Company shall be required to sell/purchase the Assets
if Unit Redemptions/Allocations exceed Unit Allocations/Redemptions at the
Valuation Date. The Unit Price of each Fund will be the Unit Value calculated
on a daily basis.
Unit
Value =
Total Market Value of Assets Plus(less) expenses
incurred in the purchase (sale) of Assets plus Current
Assets plus any accrued income net of Fund Management

44. Charges less Current Liabilities less Provision
Fund Valuation
The value of the fund will be equal to the no of units multiplied by the Net
Asset Value (NAV) of each unit in the fund. The computation of NAV will be
based on whether the Company is purchasing (Appropriation Price) or selling
(Expropriation Price) the Assets in order to meet the day to day transactions of
Unit Allocations and Unit Redemptions i.e. the Company shall be required to
sell/purchase the Assets if Unit Redemptions/Allocations exceed Unit
Allocations/Redemptions at the Valuation Date.
The Appropriation Price shall apply in a situation when the Company is
required to purchase the Assets to allocate the units at the Valuation Date. This
shall be the amount of money that the Company should put into the fund in
respect of each unit it allocates in order to preserve the interests of the existing
Policyholders
The Expropriation Price shall apply in a situation when the Company is required
to sell Assets to redeem the units at the Valuation Date. This shall be the
amount of money that the Company should take out of the fund in respect of
each unit it cancels in order to preserve the interests of the continuing
Policyholders
Computation of Net Asset Value (NAV):
When Appropriation Price is applied: The NAV for a particular fund shall be
computed as: Market Value of investment held by the fund plus the expenses
incurred in the purchase of the Assets plus the value of any Current Assets plus
any Accrued Income net of Fund Management Charges less the value of any
Current Liabilities less Provisions, if any. This gives the net Asset value of the
fund. Dividing by the number of units existing at the Valuation Date (before any
new units are allocated), gives the Unit Price of the fund under consideration.
When Expropriation Price is applied: The NAV for a particular fund
shall be computed as: Market Value of investment held by the fund less the
expenses incurred in the sale of the Assets plus the value of any Current Assets
plus any Accrued Income net of Fund Management Charges less the value of
any Current Liabilities less provisions, if any. This gives the Net Asset Value of
the fund. Dividing by the number of units existing at the Valuation Date (before
any units are redeemed), gives the Unit Price of the fund under consideration. In
case the valuation day falls on a holiday, then the exercise will be done the
following working day. The Company reserves the right to suspend unit pricing

45. if it is not possible to value some or all of the Assets of a Unit Linked Fund
because of closure of stock exchanges or investment markets for the duration of
these conditions. Flexibility available under Reliance Money Guarantee Plan
Return Shield an innovative way to protect your returns This option is available
to you during the term of the Policy. You can select or delete this option at any
time during the term of the Policy. There will not be any charge for the Return
Shield option under following circumstances;
 If the option is selected under Basic Plan on commencement of the plan
 If the option is selected under top-up premium at the time of payment of
top-up premium
 Under all other circumstances, a fixed charge of Rs100 is payable every
time the Return Shield option is selected.
 If this option is selected, the return earned on Basic Plan and Top-Ups
during the month will be transferred to Return Shield Fund at the end of
the Policy month. The operation of Return Shield option under Basic Plan
is given below:
The amount of returns to be transferred to Return Shield Fund will be
determined separately for each Policyholder in respect of each of the tree funds
D,E and F Fund The method used for determining the return to be transferred is
given below :
= Fund Value) on the last working day of the Policy month
Less Fund Value on last working day of the previous Policy month
Less amount of inflows during the month
The operation of Return Shield option under top-up premium(s) will be similar
to that of Basic Policy.
The amount will be transferred to Return Shield Fund at the prevailing Unit
Price.
Exchange Option: This option is available for existing Policyholders after
completion of three Policy years from the date of commencement, Under this
option, the Policy holder can transfer Policy Benefits (surrender, maturity etc.)
either fully or partially to another plan. This option must be exercised at least 30
days before the date of receipt of benefit under the Policy.. The Terms and
Conditions as specified in the opted Policy Document would apply to the Policy
holder opting for the 'Exchange Option'.
If a Policyholder is opting for the Reliance Money Guarantee plan under
exchange option, the Allocation Charge in year of exchange will be 15 % of the
annualised premium of Reliance Money Guarantee Plan. If the Exchange

46. Option is used to pay top-ups in the Money Guarantee Policy, the Allocation
Charge in the year exchange will be 1% of the top up amount.
Pay top-ups: If you have received a bonus or some lump sum money you can
use that as a top-up to increase the investments component in your Policy. Top-
ups are allowed only if all basic premiums due till date are paid. At any time,
the maximum amount of all top-up premiums allowed is restricted to 25% of the
total basic regular premium paid till date. The minimum top-up premium
amount is Rs 2,500. The amount of top-up premiums paid is also guaranteed on
death provided there is no partial withdrawal. The amount of top-up premium is
guaranteed on maturity provided the top-up premium was paid 10 years before
the date of maturity and there is no partial withdrawal made from the top-up
fund.
Partial Withdrawals: These are allowed for units created by top-up
premiums. There is lock-in period of three years under the top-ups from the date
of payment of top-ups during which no partial withdrawal is allowed. The lock-
in period is not applicable to Top-ups made during last three years of a Policy.
After partial withdrawal, the original Tranche of that particular top-up will lose
the Capital Guarantee. Where Life Assured is minor, partial withdrawals will be
allowed only after completion of age 18 years.
No partial withdrawals are allowed for basic regular premium funds.
Switching Option: You can switch the whole or part of the funds between funds
D, E, F at any time during the Policy Term. You can also switch from Return
Shield option to any one fund D, E and F. First four switches in any Policy year
are free.If Return Shield option is selected switching from any of the funds D,
E, F in to Return Shield option will be done at the end of every Policy month.
Such switches will not be counted as part of the four free switches during the
Policy year.
Premium Redirection: You may instruct us in writing to redirect all the
future premiums under a Policy in an alternative proportion to the various Unit
Funds available. Redirection will not affect the allocation of premium(s) paid
prior to the request.
Settlement Options: This option enables you to take the maturity proceeds
in the form of periodical payments after the Maturity Date instead of a lump
sum on the Maturity Date. You can choose to redeem the units in your Unit
Fund anytime up to 5 years from the date of maturity. Capital Guarantee is not
available during this period.

47. During this period, there will be no Life Cover. The only fund option available
during the settlement period is Fund C. The maturity proceeds will
automatically be transferred in to Fund C if settlement option is selected. The
Policy will participate in the performance of units of Fund C.
The Company will deduct Policy Administration Charges by cancellation of
units. The Fund Management Charge will be priced in the Unit Value.
In the event of death during settlement period the Fund Value as on the date of
intimation at the office will be paid to the nominee. ?In order to opt for this
option the customer has to give notice of 30 days to the Company before the
Maturity Date.
During the settlement period, the investments made in the Unit Funds are
subject to investment risks associated with Capital Markets and the Unit Prices
may go up or down based on the performance of the fund and the factors
influencing the Capital Market, and the Policyholder is responsible for his / her
decisions. The investment risk during the settlement period will be borne by the
Policyholder.
Convenient Premium Paying options
You can pay the regular premiums in yearly, half yearly, quarterly and monthly
mode and pay by cash, cheque, debit/credit card, ECS & direct debit.
The minimum regular premium is Rs 10,000 for annual mode, Rs 5,000 for
half-yearly, Rs 2,500 for quarterly and Rs 1,000 for monthly mode. The
minimum top-up premium is Rs 2,500.

49. HDFC STANDARD LIFE INSURANCE
HDFC Standard Life Insurance HDFC Standard Life Insurance
Company is a joint venture between India's largest housing finance
provider, HDFC and Europe's largest mutual life assurance company -
The Standard Life Assurance Company (U. K).
HDFC Standard Life Insurance Company Limited is the First Private
Sector Life Insurance Company to be granted a license.
FOREIGN PARTNER:
Standard Life, UK
Standard Life, UK, founded in 1825, has been at the forefront of the UK
insurance industry for 175 years by combining sound financial
judgement with integrity and reliability. It is the Largest Mutual Life
company in Europe and has total assets of Rs. 5,50,000 crore.
It is one of the very few insurance companies in the world to have
received 'AAA' rating from two of the leading internationalcreditrating
agencies, Moody's and Standard & Poor's. Standard Life was recently
voted 'Company of the Decade' in U.K. by the Independent Brokers
called IFAs.
THE PARTNERSHIP :
HDFCand StandardLife firstcame together for a possible joint venture,
to enter the Life Insurance market, in January 1995.It was clear from the
outset that both companies shared similar values and beliefs and a
strong relationship quickly formed.
Towards the end of 1999, the opening of the market looked very
promising and both companies agreed the time was right to move the
operation to the next level. Therefore, in January 2000 an expert team
from the UK joined a hand picked team from HDFC to form the core
project team, based in Mumbai.

50. Around this time Standard Life purchased a further 5% stake in HDFC
and a 5% stake in HDFC Bank.
In a further development Standard Life agreed to participate in the Asset
Management Company promoted by HDFC to enter the mutual fund market. The
Mutual Fund was launched on 20th July 2000.
Incorporation of HDFC Standard Life Insurance Company Limited:
The company was incorporated on 14th August 2000 under the name of HDFC
Standard Life Insurance Company Limited.
Their ambition since October 1995, was to be the first private company to re-enter
the life insurance market in India. On the 23rd of October 2000, this ambition was
realised when 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 81.4%,
while Standard Life owns 18.6%. Given Standard Life's existing
investment in the HDFC Group, this is the maximum investment
allowed under current regulations.
HDFCand Standard Life have a long and close relationship built upon
shared values and trust. The ambition of HDFC Standard Life is to
mirror the success of the parent companies and be the yardstick by
which all other insurance company's in India are measured.
Their Mission:
They aim to be the top new life insurance company in the market.This
does not just mean being the largest or the most productive company in
the market, rather it is a combination of several things like-
 Customer service of the highest order
 Value for money for customers
 Professionalism in carrying out business
 Innovative products to cater to different needs of different
customers
 Use of technology to improve service standards
 Increasing market share

51. Their Values:
 SECURITY: Providing long term financial security to our policy
holders will be our constant endeavor. We will be do this by
offering life insurance and pension products.
 TRUST: We appreciate the trust placed by our policy holders in us.
Hence, we will aim to manage their investments very carefullyand
live up to this trust.
 INNOVATION: Recognizingthe different needs of our customers,
we will be offering a range of innovative products to meet these
needs.
Their mission is to be the best new life insurance company in India and
these are the values that will guide us in this.
Insurance Products
1. Endowment Assurance Plan
This plan is a with profits saving plan and is well suited for saving
money for your long term financial goals. This plan also helps
provide for the needs of your family in your absence by paying out a
lump sum in the event of your unfortunate death during the term of
the policy.
Indicative Premium*
Age
(yrs.)
Basic Policy
Premium (Rs.)
Additional Premium
for optional benefits (Rs.)
CI DSA ADB WOP
20 4771 304 322 136 236
30 4835 442 388 144 300
40 5098 925 641 156 475
50 5813 - 1357 - -
* The above quoted premium is for a male life assured for a period of 20
years and a sum assured of Rs. 1lakh. The premium quoted above may
vary as a result of underwriting. The premium relatable to all the
optional benefits put together should not exceed 30% of the premium of
the basic policy.

52. - Single Life Endowment Plan
- Joint Life Endowment Plan
2. Money Back Plan
This plan helps you plan for future anticipated expenses by paying
periodiccash lump sums to you at regular intervals.This plan also helps
provide for the needs of your family in your absence by paying them the
basic sum assured plus any bonus additions in the event of your
unfortunate death during the term of the policy.
Indicative Premium* for the basic policy
Age
(yrs.)
Basic Policy
Premium (Rs.)
Additional Premium
for optional benefits (Rs.)
CI DSA ADB WOP
20 7491 304 322 136 352
30 7585 442 388 144 443
40 7925 925 641 156 672
50 8815 1890 1357 - -
- Single Life Endowment Plan
- Joint Life Endowment Plan
3. Single Premium Whole of Life Plan
Single Premium Whole Of Life Insurance Plan is well suited to meet
your long term investment needs. This participating (with profits) plan
offers you the following benefits:
 A sound investment
 Flexibility of term
 Surrender value
 In case of unfortunate death
 No medical requirements

53. Indicative Premium
Minimum sum assured : Rs. 25,000
Maximum sum assured : Rs. 5,00,000
Premium: Rs. 950 per thousand of sum assured.
4. Term Assurance Plan
If you have a family that you care for, you should consider what would happen in
case of your unfortunate death. The emotional void cannot be filled, but financial
insecurity can be avoided. By taking this affordable life insurance plan, you can
provide for the well-being of your family in case of your unfortunate death. This
plan comes to you at a minimal cost and is well-suited for the value-conscious
customer.
Indicative Premium
Age of
Life Assured
Premium* (Rs.) Single
Premium (Rs.)
Quarterly
Half-
yearly
Yearly
20 yrs. 467 862 1566 11970
25 yrs. 495 914 1662 13110
30 yrs. 529 979 1782 15726
35 yrs. 579 1074 1956 18216
40 yrs. 790 1473 2688 26400
* The premium quoted is for a healthy male, paying premiums for a 15
year term for a sum assured of Rs. 6,00,000. The exact premium may
vary as a result of underwriting.
5. Loan Cover Term Assurance
If you are taking a loan to buy a house for your family, this plan can
help you ensure that life's uncertainties do not affect their shelter. It is an
affordable plan that has been designed to help your family repay the
outstanding loan in case of your unfortunate death.

54. Indicative Premium* for the basic policy
Annual Premium**
(Rs. p.a.)
Single Premium
(Rs.)
Term of loan (in yrs.) Term of loan (in yrs.)
Age of Life Assured 10 15 10 15
30 yrs. 1592 1634 5781 7993
35 yrs. 1757 1799 6324 9152
40 yrs. 2114 2163 8515 12991
45 yrs. 2782 2915 10636 16663
50 yrs. 3955 4175 15921 25038
* The premium quoted above may vary as a result of underwriting. The
above rates are for a male life assured for an initial sum assured of Rs.
3.5 lakh.** In case of annual premium payment, the premium is to be
paid for only the first 2/3 rd of the term while the cover continues for
the full term.
Types of series
- Single Life Protection Series
- Joint Life Protection Series
6. Personal Pension Plans
This participating (with profits) plan is basically a savings contract,
which is designed to provide an income for life from retirement. It does
this by providing a notional lump sum on retirement, comprising ofsum
assured plus any attaching bonus. Subject to the prevailing regulations,
part of this lump sum can be taken in form of cash and the rest
converted to an annuity at the rate then offered by HDFC Standard Life.
Alternatively, if it is permitted by the prevailing regulations, the
notional lump sum can be used to buy an annuity with any other
insurance company who will accept such business. On earlier death after
the first year, for Regular Premium policies all premiums paid to date
will be returned with interestat 8% per annum, subject to a maximum of
the sum assured plus bonuses declared to date. For Single premiums, it
is sum assured plus bonuses declared to date.

55. Normally, they will declare a reversionary bonus once a year. Once
added, itcannot be reduced. Reversionary bonus will take the form of a
simple addition to your policy benefits. In addition, on maturity, a
terminal bonus mightbe payable.On death, an interim bonus, reflecting
the period since the last addition of reversionary bonus, might also be
payable.
How much will it cost?
The cost of the plan depends on your age, the amount of benefit you
have chosen, the premium paying frequency and the term of the policy.
To give you an idea, here are the annual premiums in Rupees, payable
on a policy with sum assured of Rs. 100,000.
Term
Age 10 15 20
30 n/a n/a 4,309
35 n/a 6,098 4,327
40 9,577 6,117 4,357
For Single premium policies, the premium payable with respect to the
basic benefit is equal to the basic sum assured as required by the
policyholder.
Am I eligible?
The age and term limits for taking out a Personal Pension Plan are:
Minimum
Term3
Maximum
Term
Minimum
Age at
Entry
Maximum
Age at
Entry
Minimum
Age at
Retirement
Maximum
Age at
Retirement
RP1 SP2 RP SP RP SP
60 50 7010 5 40 15 18 35
1 RP : Regular Premium 2 SP : Single Premium 3 Term to Retirement

56. ICICI PRUDENTIAL LIFE INSURANCE
ICICI Prudential Life Insurance is a joint venture between the ICICI
Group and Prudential plc, of the UK. ICICI started off its operations in
1955 with providing finance for industrial development, and since then
it has diversified into housing finance, consumer finance, mutual funds
to being a Virtual Universal Bank and its latest venture Life Insurance.
FOREIGN PARTNER:
Established in 1848, Prudential plc. of U.K. has grown to be the largest
life insurance and mutual fund company in U.K. Prudential plc. has had
its presence in Asia for the past 75 years catering to over 1 million
customers across 11 Asian countries.
Prudential is the largestlife insurance company in the United Kingdom
(Source : S&P's UK Life Financial Digest, 1998).
ICICI and Prudential came together in 1993 to provide mutual fund
products in India and today are the largest private sector mutual fund
company in India.
Their latest venture ICICI Prudential Life plans to take care of the
insurance needs at various stages of life.
THE COMPANY
ICICI Prudential Life Insurance Company is a joint venture between
ICICI, a premier financial powerhouse and Prudential plc, a leading
international financial services group headquartered in the United
Kingdom. ICICI Prudential was amongst the first private sector
insurance companies to begin operations in December 2000 after

57. receiving approval from Insurance Regulatory Development Authority
(IRDA).
ICICI Prudentials equity base stands at Rs. 3.75 billion with ICICI Bank
and Prudential plc holding 74% and 26% stake respectively. As of
December 31, 2002,the company had issued nearly 230,000 policies with
a sum assured of over Rs 6,500 crore and premium income in excess of
Rs. 340 crore. Today the company is the #1 private life insurer in the
country.
DISTRIBUTION
ICICI Prudential has one of the largest distribution networks amongst
private life insurers in India, having commenced operations in 23 cities
and towns in India. The company has the largest number of
bancassurance tie-ups, having agreements with ICICI Bank, Citibank,
AllahabadBank,Federal Bank, South Indian Bank, Bank of India, Lord
Krishna Bank, and Punjab & MaharashtraCo-operative Bank, as well as
some corporate agents. It has also tied up with organizations like Dhan
for distribution of Salaam Zindagi, a policy for the socially and
economically underprivileged sections of society.
ICICI Prudential has recruited and trained over 16,000 insurance agents to interface
with and advise customers, and has the highest number amongst private life
insurers on the renowned Million Dollar Round Table (MDRT).
PRODUCTS
Savings Solutions
ICICI Pru Save n Protect is a traditional endowment savings plan that
offers life protection along with adequate returns.
ICICI Pru Cash Back 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 a three in one plan that combines savings, liquidityand protection
through the following:
• Fixed term of 15 or 20 years

58. • Survivalbenefitpayments at regular intervals
• Premiums are payable throughoutthe term of the policy.
How?
The survival benefits available to you are as follows:
Policy Term 15 years
Policy
Term
20 years
At end of
year
Survival Paymentas
a % of basicsum
assured
At end of
year
Survival Paymentas
a % of basicsum
assured
3 10% 4 10%
6 15% 8 15%
9 20% 12 20%
12 25% 16 25%
15(Maturity)
50% plus guaranteed
additions plus
vested bonuses.
20
(maturity)
50% plus guaranteed
additions plus
vested bonuses.
On the death of the life assured, the beneficiarywill getthe sum assured,
the guaranteed additions and the vested bonuses.
Who can apply?
You can apply if you are 16 years old and no older than 55 years. The
minimum sum assured you should apply for is Rs.75,000.The minimum
premium amount is Rs.4,800p.a.
Protection Solutions
ICICI Pru Life Guard is a protection plan, which offers life cover at very
low cost. It is available in 3 options - level term assurance, level term
assurance with return of premium and single premium.
Child Solutions
ICICI Pru SmartKid provides guaranteed educational benefits to a child
along with life insurance cover for the parent who purchases the policy.

59. The policy is designed to provide money at important milestones in the
child’s life. Parents (between 20-60 years)with children in the age group
of 0-12 years can purchase this policy.
As parents with children aged 12 years and below, you can take this policy. You
have the flexibility to choose the exact age of the child (between 22 to 25 years), at
which the policy is to mature. You also have the option to choose between two
structures of payout of benefits.
For
e.g.
Age of the child: 5 years
Term of the plan: 23 - 5 = 18
years
Chosen age of child at maturity: 23
years
Sum assured : Rs.5,00,000/-
Structure 1:
At the end of Child's Age % of Sum Assured Amount
11th year of
policy
(Term-7)
16 years 20% of SA* Rs.1,00,000
13th year of
policy
(Term-5)
18 years 25% of SA* Rs.1,25,000
16th year of
policy
(Term-2)
21 years 25% of SA* Rs.1,25,000
On Maturity 23 years
30% of SA*
+ Guaranteed Additions
+ Estimated Bonus
Rs.1,50,000
+ Guaranteed Additions
+ Estimated Bonus
Structure 2:
At the end of Child's Age % of Sum Assured Amount
14th year of
policy
(Term-7)
19 years 25% of SA* Rs.1,25,000
15th year of
20 years 20% of SA* Rs.1,00,000

60. policy
(Term-5)
16th year of
policy
(Term-2)
21 years 20% of SA* Rs.1,00,000
17th year of
policy (Term)
22 years 20% of SA* Rs.1,00,000
On Maturity 23 years
20% of SA*
+ Guaranteed Additions
+ Estimated Bonus
Rs.1,00,000
+ Guaranteed Additions
+ Estimated Bonus
*Sum Assured
What tax benefits will you get?
The premium that you will be paying will be tax exempt under section
88.
Market-linked Solutions
ICICI Pru Life Link is a single premium Market Linked Insurance Plan
which combines life insurance cover with the opportunity to stay
invested in the stock market.
ICICI Pru Life Time offers customers the flexibility and control to
customize the policy to meet the changing needs at different life stages.
It offers 3 investmentoptions - Growth Plan, Income Plan and Balanced
Plan.
How do you start?
You can open an account with a Minimum Premium of
Rs 18,000/-p.a. for annual mode.
Rs 9,000/-per halfyear for half-yearlymode
Rs 4,500/-per quarter for quarterly mode
Rs 1,500/-per month for monthly mode
Benefits
Death Benefit: In case of the unfortunate event of death, your near and
dear ones are spared an uncertain future. The nominee/s will receive the

61. death benefit chosen (less any withdrawals) or value of the units,
whichever is higher. 1
Withdrawal Benefit: There is no maturity date. Anytime after 3 years of
commencement (provided you have paid premium for 3 full years) you
can make withdrawals through partial or complete surrender of units.2
Retirement Solutions
ICICI Pru ForeverLife is a retirementproducttargeted at individuals in
their thirties. Ideally, you should be between 30-35 years of age to take
the maximum benefit of this plan. This gives you a longer period for
your retirement plan, thus giving you the advantage of compounding
over a long period of time to create a sizeable retirement kitty.
Following table shows the annual premium payable for various age-
term combinations to get an annual Life Annuity of Rs100, 000 per
annum from vesting.
Age/Vesting Age 50 55 60
30 23084 13654 8159
35 40420 22383 12913
40 79090 38277 21158
The table below shows the yearly annuity payable for various age-term
combinations for an annual premium of Rs10, 000.
Age/Vesting Age 50 55 60
30 42375 73233 122583
35 23764 44686 77367
40 12386 25134 47228
*The calculations are based on the current annuity rates and the
assumptions taken in the benefit illustration. The annuities shown in the
table are indicative and are not guaranteed.
Annuity Benefit: On the date of vesting (retirement), you start receiving
a regular income for life. This amount would depend upon the annuity
option chosen by you and the accumulated value as on the vesting date.

62. The annuity would also depend upon the annuity rates offered by the
company as on that date and are not guaranteed.
What tax benefits are available with Forever Life ?
Tax benefit u/s 80CCC(1): up to Rs10, 000 deducted from your taxable
income.
Market-linkedretirementproducts
ICICI Pru Life Time Pension is a regular premium market-linked
pension plan.
What tax benefits are available with LifeTime Pension?
Tax benefit u/s 80CCC(1): up to Rs10, 000 deducted from your taxable
income.
How much you have to pay?
The minimum premium in this plan is Rs10, 000. However you have the
flexibility of paying yearly (Rs10,000), half-yearly (Rs5, 000),Quarterly
(Rs2, 500)and monthly (Rs 833)
What are your entry conditions?
You can apply for this plan if you are between 18 and 60 years of age.
The minimum age of vesting is 50 years. You have the flexibilityof
choosing the vesting age between 50 and 70 years of age. Minimum
Term of the product is 10 years.
ICICI Pru Life Link Pension is a single premium market-linked pension
plan.
What tax benefits are available with LifeLink Pension?
Tax benefit u/s 80CCC(1): up to Rs.10, 000 deducted from your taxable
income.
How much you have to pay?
The minimum premium in this plan is Rs.25, 000.
What are your entry conditions?
You can apply for this plan if you are between 18 and 62 years of age.
You have the flexibilityof choosing the vesting age between 50 and 70
years of age. Minimum term of the product is 3 years.

63. Allocation Rate
For premiums between Rs. 25,000/-and Rs. 39,999/-the allocation is
97%, for premiums between Rs. 40,000/-and Rs. 99,999/-itis 98%, for
premiums between Rs. 1,00,000and Rs. 4,99,999itis 98.5% and for
premiums of Rs. 5,00,000/-or above it is 98.75%
What would be the charges on your policy?.
 Mortality Charges towards Death Benefit
 Top Up Charges - 1% of the top up amount
Other Charges: Annual administrative charges of1.00% p.a. of net assets
for protector (Income) and 1.25% p.a. for Maximiser (Growth) and
Balancer (Balanced) options. Annual investment charge of 0.5% p.a. of
the net assets for Protector and 1% p.a. of the net assets for Maximiser
and Balanced.
Single Premium Solutions
ICICI Pru AssureInvest is a single premium savings product with life
cover that offers returns ranging from 4.1% to 5.8% for a term of 5, 7 or
10 years.
On date of maturity, depending on the term and the single premium
amount paid, guaranteed additions (w.e.f. 10th December '02) as given
in the table below:
Term Age 5 years 7 years 10 years
Single Premium (in Rs.) Guaranteed rates
25,000 - 49,999 7 to 45 3.80 4.10 4.45
46 - 55 3.80 4.05 4.40
56 & above 3.65 3.95 4.35
50,000 - 199,999 7 to 45 4.35 4.55 4.85
46 - 55 4.30 4.50 4.75
56 & above 4.20 4.40 4.75
200,000 + 7 to 45 4.75 4.85 5.10
46 - 55 4.70 4.80 5.05
56 & above 4.55 4.70 5.00

64. The maturity benefits are payable even if death benefit has been paid
earlier.
ICICI Pru ReAssure is a retirement product for senior citizens who are
on the verge of retirement or have just retired.
The policy is available for a term of 5 or 7 years.
Survival benefits: Depending on the term and the Single Premium, the
new rates (w.e.f. 10th December '02) for ReAssure are as following:
Term 5 years 7 years
Single Premium (in
Rs.)
Survival Benefits
(%)
50,000 - 199,999 5.30 5.05
200,000 + 6.00 5.65
Maturity benefit: On maturity the entire amount of single premium is
paid to you.
What happens on death during the term of the policy?
If death occurs within the first year of buying the policy, the nominee
will receive the premium. If death occurs after first year, the nominee
will receive 110% of the premium paid.
Who can apply?
Anyone in the age group of 07-62 years can apply for the ReAssure
policy (maximum age at entry is 60 yrs in case of 7yr term). The
maximum cover-ceasing age is 67 years.
What tax benefits will you get?
The premium is eligible for tax exemption under Sec88.
ICICI Prudential alsolaunched ''Salaam Zindagi'', a social sector group
insurance policy targeted at the economically underprivileged sections
of the society.
Group Insurance Solutions
ICICI Prudential also offers Group Insurance Solutions for companies
seeking to enhance benefits to their employees.

65. ICICI Pru Group Gratuity Plan: ICICI Pru's group gratuity plan
helps employers fund their statutory gratuity obligation in a scientific
manner. The plan can also be customized to structure schemes that
can provide benefits beyond the statutory obligations.
ICICI Pru Group Term Plan: ICICI Pru flexible group term solution
helps provide 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.

66. FLEXIBLE RIDER OPTIONS
ICICI Pru Life offers 4 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 beneficiaryreceives an additional amount equal to the sum assured
under the policy. 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.
2. Level Term cover
This rider provides the option to increase the risk cover. The cover may
be increased for an additional amount up to a maximum of the existing
basic sum assured on your policy.
3. 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.
4. Major Surgical Assistance Benefit
Provides financial support in the event of medical emergencies, ensuring
that benefits are payable to the life assured for medical expenses
incurred for surgical procedures. Cover is offered against 43 different
surgical procedures.

67. AVIVA LIFE INSURANCE
THE COMPANY
Aviva Life Insurance is a joint venture between Dabur and Aviva. Aviva Plc is UK's
largest insurance group. Today, with 25 million customers in over 50 countries and
assets under management in excess of US $300 billion AVIVA life insurance is the
oldest company in the world and is a pioneer in its own field. It is the 3rd largest Life
insurance company in the global. It has its root in U.K where it is the largest insurer.
Most lives in U.K are covered by AVIVA. The asset of AVIVA is over $300 billion. It
has got 25 million customers worldwide and reaping the benefit of the product.
Around 64,000 people are working for AVIVA worldwide. It has 40 major
partnerships with leading banks across the globe.
In India it has tied up with well know and admired company DABUR. The joint
venture is form to cater the growing need of life insurance.
Founded in 1884, Dabur is one of India's oldest and largest group of companies with
annual sales of Rs. 1,200 crores. It is the country's leading producer of traditional
healthcare products.
Together they have been looking after generations of customers, over hundreds of
years, and are committed to ensuring that we enjoy the very best financial health.
Aviva Life Insurance aims for superior long-term investment performance and has
the financial and management strength to deliver. Along with millions of customers
worldwide we can feel certain of our choice, whether we invest for the future or
provide against the unexpected.
WHO ARE THEY
Aviva Plc is the largest UK based life and general insurance group. A top
priority at Aviva Plc has been the establishment of truly international
businesses built on strong local partnerships and joint ventures. The Group's
success in combining this strategy with a well-balanced portfolio of life and
general business can be seen in a modern, unified operation across the globe.

68. Aviva Plc is one of the major institutional investors in the UK, holding
3% of British industry quoted on the London Stock Exchange and 7% of
the UK gilt market. It is a top-five European life insurer based on
premium income, with leading positions in the UK, the Netherlands,
Ireland, Poland, Spain, Singapore and Turkey. The Group is among the
top 10 assetmanagers in Europe and the second-largest UK-based fund
manager by reference to funds under management, which exceed US
$300 billion.
Aviva Plc's service standards, responsiveness and portfolio of products
are customized to suit the individual needs and requirements of its
customers across the world. The Group's 64,000 employees serve more
than 25 million customers worldwide.
PRODUCTS AND SERVICES
At Aviva Life Insurance, insurance plans are created keeping in mind
the changing needs of you and your family. Our individual life
insurance plans are designed to provide you with flexible options that
meet both protection and savings needs.
LIFELONG
Life Long is a flexible whole life plan designed to suit your individual requirements,
no matter which life stage you are in and change as your needs change during your
entire life. For younger families, maximum protection can be provided at moderate
cost but as the need for protection in future reduces, the sum insured under the
policy may be reduced, thus increasing the savings content.
LIFESAVER
Life Saver is a flexible endowment plan designed to meet your specific
long-term savings needs such as education and wedding costs, with the
added reassurance of life cover to meet those costs should something
untoward happen before the policy matures.
LIFEBOND
Life Bond is a single premium savings plan designed by Aviva to
provide you the maximum benefitof investment return and the security
of the investment to match your medium term savings needs.

69. CORPORATE LIFE
Corporate Life is a product designed primarily for the corporate sector
to provide life cover to their employees. The product can also be
targeted at other suitable groups. This is a group term insurance
product, which provides cover against risk of death. The Corporate is
the master policyholder. It is a yearly renewable product. Additional
covers against accidental death and permanent total disability are also
available, if opted for by the master policyholder.
EASY LIFE PLUS
Easy Life Plus is designed to be a simple regular savings plan with the
benefit of life protection. By choosing an appropriate premium level and
term, you can match the maturity date of the policy to a specific savings
need such as children’s education, wedding, etc. Easy Life Plus is
specially designed for members of select groups such as Bank
Customers, Employer-Employee, or any other similar recognized group.
CREDIT PLUS
Credit Plus is a product specially designed for Micro Finance
Institutions who provide loans to individuals in the rural and social
sectors and who would alsolike to provide some financial security to the
families of these individuals (members).This is a yearlyrenewable group
term insurance scheme which provides death cover on group basis.
PENSION PLUS
Pension Plus is a tax efficient personal pension plan that is designed to
help you earn a regular income even after you stop working. Through
this plan, you build a fund till you retire which provides you financial
security on retirement.
SECURE LIFE
Secure Life is an ideal life insurance plan that helps you protect your
family’s future. Depending on your requirements, whether itbe for your
child’s education or marriage,loan repayments, etc., Secure Life ensures

70. that your family’s needs are met should something unfortunate happen
to you. What is more, the entire premium that you pay during the policy
term is returned to you on survival, at maturity.

71. BIRLA SUN LIFE INSURANCE
The Aditya Birla Group consists of companies based at transnational
locations, comprising of some of the best-known companies in India.
The group companies have attained a leading position in a range of key
core sector areas and rank among the country’s largest, most profitable
and fastest growing companies. At the Aditya Birla Group, growth with
excellence is a way of life. With a turnover of over Rs 280 billion (US
$6.01 billion), and fixed assets worth Rs 265 billion (US $5.7 billion), the
group is India's leading business house. The Group's employs around
72,000people and has 700,000share holders spread across 40 companies
situated around the globe.
Sun Life Financial is a leading international financial services
organization. With a history that dates back to 1871, Sun Life Financial
has evolved from a single mutual life insurance to one of the most
highly rated insurance and wealth management institutions in the
world. Sun Life Financial knows its value lies in more than assets and
history. It also lies in the culture of integrity and the pursuit of
excellence that have marked all of the organization’s endeavors. Today,
the Sun Life FinancialGroupof companies and partners are represented
globallyin Canada, the United States, the Philippines, Japan, Indonesia,
India and Bermuda.
Birla Sun Life Insurance is the coming together of the Aditya Birla group
and Sun Life Financial of Canada to enter the Indian insurance sector.
INSURANCE PRODUCTS
YOUNG SCHOLAR
Birla Sun Life Insurance, have specially designed the YOUNG
SCHOLARPACKAGE for children aged 8 and below. Birla Sun Life's
Young Scholar package not only insures the parent, but also ensures the
dream of your child becomes a reality.
Savings... Easily achievable Guaranteed 6% Returns

72. If you are 30 years old and father of a child aged between 1 and 3 (both
inclusive)and if you select a package with a face amount of Rs. 1,00,000
A small
amount of Rs.
22.09 per day
for 15 years
At the end of the Year Rupees This ensures that your
child's higher
education and
development is
funded
1.16th policy year 30,000
2.17th policy year 30,000
3.18th policy year 30,000
4.19th policy year 30,000
5.On Maturity 45,000
For his/her START in
life
6.If the Actual Return
is 9%, then the
additional amount
paid on maturity
82,720
(Annual
Premium Rs.
8,064 payable
for 15 years)
Coverage for you
1.Normal Death 2,00,000 This creates an
emergency fund for
the Protection of your
family
2.Accidental Death 3,00,000
3.Dismemberment
Cover
1,00,000
If you are 35 years old and father of a child aged between 4 and 8 (both
inclusive)
and you select a package with a face amount of Rs. 1,00,000
Salient Features of Young Scholar
A small
amount of Rs.
31.95 per day
for 10 years
At the end of the Year Rupees This ensures that your
child's higher
education and
development is
funded
1.11th policy year 20,000
2.12th policy year 20,000
3.13th policy year 20,000
4.14th policy year 20,000
5.On Maturity 60,000
For his/her START in
life
6.If the Actual Return
is 9%, then the
additional amount
paid on maturity
55,996
(Annual
Premium
Coverage for you
1.Normal Death 2,00,000 This creates an

73. Rs.11,664
payable for 10
years)
2.Accidental Death 3,00,000 emergency fund for
the Protection of your
family
3.Dismemberment
Cover
1,00,000
According to the Income Tax Act, 1961 premiums paid to buy or keep an insurance
in force is exempted from income tax to the extent of 20% of the premium paid or Rs.
60,000, whichever is lower (i.e. Sec 88 of the Income Tax Act). Benefits received from
a life insurance policy is also exempted from income tax (i.e. Sec10(10D) of the
Income Tax Act).
FLEXI LIFE LINE WHOLE LIFE PLAN
Flexi Life Line Whole Life Plan is an investment in the future which
ensures that your hard earned money gives you higher returns as well
as security to your loved ones.
Unique Features :
 Choice of Investment Options.
 Automatic Premium Payment.
 Free Look Period.
 Access your funds during the duration of the plan.
 Favorable premiums for Female Clients.
Flexi Life Line - Whole Life Plan
Eligibility 18-65 years
Minimum Face Amount (Sum
Assured)
Rs. 75,000 for a person
fulfilling the eligibility
criteria
Duration of the plan For the entire life till
100 years of age
Premium Paying Period
Single pay, 5,10, 15, 20
years or over the
duration of the plan
Premium Payment Frequency Annually, semi-
annually, quarterly or

74. one-time payment
Free Look Period Review your decision
for 15 days from the
date of despatch of the
policy document
Transparency in Surrender
Values
Know the exact amount
due in case of pre-
mature plan
termination
Amount due on survival up to
maturity
Surrender Value in the
maturity year + the
balance in Additional
Holding Account (Non-
Guaranteed)
Amount due to nominee in
event of death of the life
insured
Death benefit + the
balance in Additional
Holding Account (Non-
Guaranteed)
Riders
Accidental Death &
Dismemberment, Term
and Critical Illness
Riders
Unique Features
• Investment Options*
• Access to your funds
• Death Benefit
• Automatic Premium
Payment
Protector*, Builder*and
Enhancer*
Loans, Withdrawals
and Surrender
Applicable for all plans
Applicable for all plans
Tax Benefits
As per Sec 88 Sec 10(10
D) of the Income Tax
Act
BIRLA SUN LIFE TERM PLAN

75. This low cost plan is for those who would like to buy an insurance cover
at a low cost. The premium of this plan is low and offers high life
coverage. This plan takes care of the policyholder's financial
commitment to his family if anything unfortunate happens to him.
Eligibility:
The minimum eligibility age is 18 and maximum is 55 years.
Duration of the plan:
The duration of the plan can be 5,10,15,20 or 25 years. (The maximum
age at maturity is 70 i.e., a person aged 55 can buy a maximum benefit
period of 15 years).
Premium Payment:
Premiums can be paid annually, semi annually or quarterly throughout
the duration of the plan or by a one time single premium. In case of non-
payment of premiums on due dates, a grace period of 30 days is given
after which the policy will lapse.
Free plan Trial
This option called Free Look Period begins from the date of despatch of
policy document. Under this trial the customer is allowed to review his
decision for 14 days. If the policyholder wishes to cancel his plan within
this period, full refund of the premium amount paid is offered.
Description Birla Sun Life Term Plan
Eligibility 18 - 55 years
Minimum Face Amount
(Sum Assured)
Rs 2,50,000in case of single premium and Rs 2
,00,000in case of annual premium for a person
fulfilling the eligibility criteria
Duration of the plan As per the policy terms - 5,10,15,20or 25 years
Premium Paying Period Single pay, or over the duration of the plan
Premium Payment
Frequency
Annually, semi-annually, quarterly, monthly
or One-time payment
Free Look Period
Review your decision for 14 days from the
date of despatch of the policy document.
Amount due to nomineeFace Amount ( Sum Assured)

76. in event of death of the
life insured
Amount due on survival
upto maturity
Nil
Surrender Value Nil
Riders
Accidental Death & Dismemberment and
Critical Illness riders but only at the time of
purchase of policy
Tax Benefits
As per Sec. 88 and Sec.10(10D) of the Income
Tax Act
FLEXI SAVE PLUS ENDOWMENT PLAN
It is a flexible life insurance plan taken for a specified term, which offers
you the dual benefit of an insurance cover as well as investment
opportunity, which helps grow your savings. The Flexi Save Plus
Endowment Plan is designed for people who want to maximise their
savings today by paying regular premiums for a fixed duration of time
or in a single lump sum, to realize their long term goals and protect their
families with an insurance policy.
Eligibility 1 – 65 years
Minimum face amount Rs 50000 for minors and Rs 75000 for
adults.
Duration of the plan As per policy terms 10, 15, 20, 25 or 30
years or as per maturity age.
Premium paying period Single pay 5, 10, 15, 20 years or over the
duration of the plan.
Premium paying frequency Annually, semi-annually, quarterly or
one time payment.
Free look period 15 days from the date of the policy
dispatch.
Amount due on survival up to maturity Surrender value in the maturity year +
bal. in the additional holding account.
Amount due to nominee in event of the
death of the life insured
Death benefit + balance in the additional
holding account
Tax benefits As per Sec 88 Sec 10(10D) of the income
tax act.

77. FLEXI CASH FLOW MONEY BACK PLAN
It is a flexible life insurance plan taken for a specified term, with periodic payback of
face amount (sum assured) at fixed intervals coupled with saving growth. It is an
investment, which ensures that your money also works as hard as you do. The plan
keeps on giving you a part of the face amount (sum assured) at regular intervals as
well as takes care of your savings needs.
Eligibility 1 – 65 years
Minimum face amount Rs 50000 for minors and Rs 75000 for
adults.
Duration of the plan As per policy terms 10, 15, 20 or 25 years.
Premium paying period Single pay 5, 10, 15, 20 years or over the
duration of the plan.
Premium paying frequency Annually, semi-annually, quarterly or
one time payment.
Free look period 15 days from the date of the policy
dispatch.
Amount due on survival up to maturity Surrender value in the maturity year +
balance in the additional holding
account.
Amount due to nominee in event of the
death of the life insured
Death benefit + balance in the additional
holding account.
Riders Accidental death and dismemberment,
Term and critical illness riders.
Tax benefits As per Sec 88 Sec 10(10D) of the income
tax act.
KEY FINDINGS OF THE TERM POLICIES
 Max New York Life provides the maximum sum assured w.r.t. any
other company’s term insurance product.
 Aviva's rider CI covers maximum ailments. Another, asset of this
insurer is that for term policies need no medical tests required
while buying thus, lots of hassle eliminated. Its wealth protector
plan also of its exceptional kinds it also give bonus on riders,
which many insurers miss out at.

78.  HDFC Standard Life gains at being the most affordable policy
available. The eligibility standards are also at better ends w.r.t.
other private insurers. The suicide exclusion clause dealt here by
this insurer is exceptional as what other insurers apply it for the
term products.
ENDOWMENT INSURANCE
PARAMETERS BIRLASUN
LIFE
HDFC
STANDARD
LIFE
AVIVA
Eligibility
(basic policy ) 1-65 years
expiry or
maturity at 80
years
12-60 years
expiry or at age
75
18-65 years
maximum
maturity at 70
years
Minimum face
amount
50,000(minors)
75,000(adults)
No minimum
sum assured
Minimum
premium is Rs
18,000 p.a.
Minimum term 5
years
Maximumterm-
52 years
(depending on
the current age
Riders
Accidental
death and
disimbersement
term ,CI
CI,
DSA,ADB,WOP
ADD, CI,
Permanent Total
Disability
Unique features
Investment
options-
protestor,
builder,
enhancer
Can be taken on a
single life basic or
a joint life (first
claim) basis
1) It is a unitized
fixed term
protection cum
savings plan.
2) Can be
purchased on
any life between
18 to 65 years
and for any term
subject to a

79. minimum of 5
years and the
insured not
exceeding 70
years at the age
of maturity.
3) Can increase
the sum insured
under the policy
anniversary.
However an
increase will be
subject to
evidence of good
health and
underwriter’s
approval.
4) Can be
purchase on
single life as well
as on a joint life
(with spouse
only on first
death basis)
5)Regular
premium
payable over the
whole term of
the policy
ICICI PRUDENTIAL
1) Save ‘n’ Protect- 15 to 60 years
Maximum maturity at 70
years
2) CASHBAK-16-55 years
MAX NEW YORK LIFE
20-50 years

80. Save ‘n’ protect-20000 minimum
Cashback-50000 minimum
(no limit of maximum amount)
1,00,000
1,00,00,000
Save ‘n’ protect-minimum term 10
years.
Cashbak-minimum and maximum
15 or 20 years
20 years
ADB, CI, Major Surgical
Assistance, Level Term Insurance
PAB, Term Renewable and
Convertible Rider, Dread Disease,
Payer Rider.
Save ‘n’ protect
 Once the policy matures,
can get the full sum assured
and guaranteed additions as
well as the vested bonuses.
 Also an extended term
insurance cover for maturity
date of the policy for 50% of
the sum assured for which
not have to pay any during
the tenure of extended life
cover
 No rider benefits.
 Can avail loan under policy.
Cashbak
 No loans are available under
this policy.
 Can discontinue policy after
 The sum that received on
maturity serves as an
additional source of income.
 It has guaranteed death
benefit during the term of the
policy.
 Policy will acquire a cash
surrender value after policy
has acquired a cash
surrender value, to fund
unexpected requirements.
 A guaranteed, fixed
premium allows to plan
finances better.
 Will get bonus payable once
the policy has been in effect
for at least two years.

81. premiums are paid for 3
years. A guaranteed
surrender value is payable,
if terminate the policy after
3 yrs premium are paid.
KEY FINDINGS OF ENDOWMENT INSURANCE:
 Birla Sun Life policy even caters to the infant aged one and which
no other insurer provides thus making it quite distinctive. Its
investment portfolio is also quite competitive and substantial
returns apart from the protection which other company’s have.
 AVIVA bounds the insured least, with its minimum term as 5
years, in the policy whereas others have the minimum of 10 years.
 ICICI Prudential Save ‘n’ protect policy scores the highest among
endowmentplans. Loan facilities that can be enjoyed on it make it
a highly attractive opinion. ‘Cashbak’ also popular among those
who feel uncertain about their future premium paying capacities.

83. OBJECTIVE
The objective of project was recruitment of advisors and their role towards
insurance.
In this work was to find out the socially connect persons who are socially
connected, in order to sell the insurance policies of Reliance Life Insurance We
have to find out no of advisors who have the convincing power and ability to
motivate the people towards insurance. As we know that Bajaj Allianz product
is a private market player in insurance sector, so their has to be work to move
the people towards private sector in order to fast service and better quality with
quantity.
The work was also to aware and attract the people towards more premium as
compare to LIC and to give the opportunity to be self dependent.
The work was mainly to recruit-
 House wife
 Businessman/entrepreneur
 VRS opted
 Teacher/Lecture
 Bond/multifund/postal agent
 Builder
 Property dealer
 CA`s
 Students
So the main objective was t o recruit the advisors who are socially connected
and their role towards insurance

84. RESEARCH METHODOLOGY
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 and support, attractive payments and benefits
 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 membership.
 Achievements rewarded with trophies and certificates.
Carrier prospect
For people who want to climb the success ladder fast.
Then, we targeted high profile people like CA’s or MBA’s or govt. people. 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 ask 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 and they were converted.

85. SWOT ANALYSIS
A proper S.W.O.T. analysis of Reliance Life Insurance has also been conducted to
know better about the position, growth, and upcoming future and prospective of the
company.
STRENGTHS
Reliance Life Insurance is a joint venture between HDFC & Standard
Life Insurance. Strength of Reliance Life Insurance is:
 ICICI Prudential is a very big financial institution
 Reliance Life Insurance is the First Private Sector Life Insurance
Company to be granted a license).
 Short-term plans of Reliance Life Insurance are the main strength.
 After sales services.
WEEKNESS
 Products cost are very high.
 Customer does not believe on private company.
 They don’t focus on rural areas.
 Charges are very high.
OPPURTUNITIES
 Good brand promotion.
 1/3rd- % insurance has been covered.
THREATS
 Competitors.
 Privatization of banks.
 Government rules and regulations.

88. WHO IS AN INSUARANCE AGENT
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.
Today in life insurance companies advisors are known to be the backbone of the
whole system. Advisors 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 is that he/she should be 12th pass
to operate in urban areas and 10th pass for rural areas. Before a person becomes
an advisor he/she has to undergo 100hrs training according to IRDA norms,
which is compulsory.
A person who wants to be an advisor ahs first to fill a recruitment form and has
to pay a fee of Rs. 1000/-in favor of RELIANCE LIFE INSURANCE. Then he
has to pass a test, which is compiled by IRDA. After he gets a license.

89. MOST PREFERRED PROFILES TO RECRUIT
AS ADVISORS/AGENT
 Housewives
 Income tax consultants
 Charted Accountant
 MR’s
 Doctors
 Teachers
 Postoffice agent
 Business Men
 Accountants
 Stock Brokers
 Lawyers
 Sales Personnel’sworking in
 Automobile dealership
 Credit Card Co.
 Telecom

90. Modes & ways through which the company
Recruits agents.
o Direct contacts.
o Newspaper adds.
o Consultants.
o Member of the company can introduce a new member.

91. Training activities for agents/advisors
 As per IRDA guidelines, 100 hrs training is compulsory.
 Both online &classroom training are available.
 Training is compulsory with part time & full time options.
 A clear exam is conducted by IRDA, the minimum qualification
is-
 12th pass for urban areas
 10th pass for rural areas

92. Advisor Role
To provide ongoing financial advice for his/her clients:
 Identify future clients.
 Making appointments.
 Conductfinancial review meetings with prospects/clients.
 Follows internal sales and reporting system.

93. Working Environment of an
Advisor /agent
 To be a part of world class sales team.
 Work from your own office or residence.
 Earn commission, bonus & incentives.
 No upper limits on earnings.
 Flexible career.

94. 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 makes a call to these clients and tries to fix an
appointment.
 When an appointment is fixed the advisor meets the customer &tries
to sell the product.
 After that the advisor asks for the reference of maximum number of
people from the client.
 The references are asked in context to make future calls and the
whole procedure is repeated again.

96. FREQUENCY PERCENT VALID %
CUMULATIVE
%
VALID FEMALE 15 23.1 23.1 23.1
MALE 50 76.9 76.9 100
TOTAL 65 100 100
23.1
76.9
GENDER OF THE RESPONDENT
FEMALE
MALE

97. FREQUANCY PERCENT
VALID
%
CUMULATIVE
%
VALID MARRIED 49 75.4 75.4 75.4
UNMARRIED 16 24.6 24.6 100
TOTAL 65 100 100
75.4
24.6
MARITAL STATUS OF THERESPONDENT
MARRIED
UNMARRIED

98. FREQUENCY PERCENT
VALID
%
CUMULATIVE
%
VALID INTER 5 7.7 7.7 7.7
GRADUATE 40 61.5 61.5 69.2
PROFESSIONAL 20 30.8 30.8 100
TOTAL 65 100 100
INTER
8%
GRADUATE
61%
PROFESSION
AL
31%
EDUCATIONAL QUALIFICATION OF THE
RESPONDENT
INTER
GRADUATE
PROFESSIONAL

99. FREQUANCY PERCENT
VALID
%
CUMULATIVE
%
VALID GOVT/STATE 21 31.3 31.3 31.3
PRIVATE JOB 33 49.3 49.3 80.6
PROFESSIONAL 8 11.9 11.9 92.5
OTHERS 5 7.5 7.5 100
TOTAL 67 100 100
31.3
49.3
11.9
7.5
OCCUPATIONAL BACKGROUND OF THE
RESPONDENT
GOVT/STATE
PRIVATE
PROFESSIONAL
OTHER

100. FREQUENCY PERCENT
VALID
%
CUMULATIVE
%
VALID LIC 46 70.8 70.8 70.8
RELIANCE LIFE INSURANCE 13 20 20 90.8
OTHERS 6 9.2 9.2 100
TOTAL 65 100 100
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
45.00%
50.00%
VALID LIC RELIANCE LIFE
INSURANCE
OTHERS
50.00%
10%
40%

101. `
FREQUENCY PERCENT
VALID
%
CUMULATIVE
%
VALID CLASSROOM 42 64.6 64.6 64.6
ONLINE 12 18.5 18.5 83.1
NONE 11 16.9 16.9 100
TOTAL 65 100 100
CLASSROOM
65%
ONLINE
18%
NONE
17%
MODE OF TRANING BY IRDA UNDERGONE BY
RESPONDENT
CLASSROOM
ONLINE
NONE

102. FREQUENCY PERCENT VALID % CUMULATIVE %
VALID PERSONAL MEETING &
TELEPHONE
9 13.8 13.8 13.8
TELEPHONE & REFERENCE 10 15.4 15.4 29.2
ALL 46 70.8 70.8 100
TOTAL 65 100 100
13.8
15.4
70.8
CONTACTING THE CUSTOMER BY THE
RESPONDENT
PM&T T&R ALL

103. FREQUENCY PERCENT VALID %
CUMULATIVE
%
VALID PROTECTION 9 13.8 13.8 13.8
SAVING 10 15.4 15.4 29.2
CHILD FUTURE 9 13.8 13.8 43.1
RETIREMENT 13 20 20 63.1
INVESTMENT 11 16.9 16.9 80
TAX SAVING 13 20 20 100
TOTAL 65 100 100
13.8
15.4
13.8
20
16.9
20
PURPOSE OF GETTING AN INSURANCE
PRO
SAV
CF
RET
T.S

104. FINDINGS
During the project I found the following-
 Advisor is the independent person who gets the
opportunity to connect the people with BAJAJ ALLIANZ.
 People are more conscious about policies.
 INSURANCE is an easier way to give the pure security to
the people.
 People are more aware about the private players.
 Market survey is a very good way to connect the people
with the organization.
 Market is very competitive.
 Private players are giving more opportunities and
facilities.
Most of people have less faith on private players as compare to government
players.

106. CONCLUSION
If we analyze in all sectors of life insurance then LIC has been the most
dominant player since 1956. The impact of LIC has been so much in both rural
and urban areas that people use the term LIC instead of Life insurance.
Each of the other private players like Aviva, Max New York Life, OM Kotak
Life, ING Vysya, had less than 1% market share but posted high growth in
business. in terms of premium collection, ICICI Prudential mopped up Rs. 136
crore followed by Birla Sun Life Rs 60 crore, Allianz Bajaj Rs 37 crore, Tata
AIG Rs 35 crore, HDFC Standard life Rs 33 crore
HDFC Standard life faces a big challenge in front of them to stay in the race
with Life insurance corporation(LIC)because with the entrance of other
companies like Max New York, Birla Sun Life the competition has become
tougher.
But insurance is also growing day by day, India has a population of 1.2 billion
and only 33.3% population is insured. This means insurance is an upcoming
industry but HDFC Standard Life has to work a lot on their strategies to
overcome LIC.

107. RECOMMENDATIONS
During the exposure of 2 months I had in the insurance
industry via HDFC Standard life, it helped me to develop the basic
understanding of how this industry works and the work
experience & knowledge gained has also helped me to give the
recommendations as stated below:
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 what the
customer actually he needs and then letting the customer know
what benefits he will get out of it.
The limitation here is to win the trust of people when so many
companies are offering the same product range here, HDFC
Standard life needs to encash its brand name because after the
survey I concluded that after LIC people knew only about HDFC
Standard life
During the calls where I went along with my sales manager, I
observed that people in general have the perception that
insurance is all about getting discount in tax. People should be
made realize that it is a great way of saving for the future too.

108. Besides doing market research, my other job was to increase
the advisor base of the company. And company preferred the
profiles of the already established insurance advisors of the
other companies.
Instead of approaching good profiles agents personally, the
company can hold Seminars or club meetings because every
one comes for free lunches. Once they come, they can be given
business Opportunities presentations about the incentives,
commission structure etc HDFC Standard life is offering to its
advisors.
Since the commission structures has been fixed by the IRDA
only so on insurance company can give more commission on
products but every company has a different mode of
distributing commission, since HDFC Standard life has all kind of
products and policies with it thus every agent can earn as
much (NO UPPER LIMIT ON EARNINGS) as he wants because
he has more choice to offer to the customer. This can be one of
the sales pitches for the HDFC Standard life.

110. GENERAL SURVEY QUESTIONNAUIRE
NAME:
AGE:
ADDRESS:
1) GENDER
a) MALE b) FEMALE
2) MARITAL STATUS
a) MARRIED b) UNMARRIED
3) EDUCATIONAL QUALIFICATION
a) ANY PROFESSIONAL DEGREE (MBA/CA) b) GRADUATE
c) POST GRADUATE d) UNDER GRADUATE/12th
OR EQUIVALENT
4) OCCUPATIONAL BACKGROUND
a) GOVT/STATE b) PVT JOB
c) PROFESSIONAL (CA/MBA) d) OTHER………………..
5) ANNUAL HOUSE INCOME
a) 5-8LACS b) 3-5LACS
c) 1-3LACS d)<LAC
6) ARE YOU INTERESTED IN MAKING EXTRA INCOME?
a) YES b) NO
7) WHICH OPTION YOU SUITS THE BEST FOR MAKING EXTRA INCOME?
a) MLM (MULTI LEVEL MARKETING) b) MUTUAL FUNDS
c) TRADING OF STOCK (STOCK MARKET) d) INVESTMENT IN
PROPERTY
e) INSURANCE AGENT

111. IF YOU CHOSEN (e) AS YOUR ANSWER GO TO QUESTION 8&9 OTHERWISE
JUMP TO QUES.10th –
8)WHICH PVT. INSURANCE CO. YOU RATE AS THE BEST IN THE INSURANSE
SECTOR?
………………………………………………………………………………………………
9) BAJAJ ALLIANZ LIFE INSTURES CATERS TO A ATTRACTIVE PAYMENTS,
INSTANT RECOGNITION & CAREER PROGRESSION OF ADVISORS. WILL YOU BE
INTERESTED IN JOINING ICICI PUR LIFE?
a) CERTAINLY b) PROBABLY
c) DEFINITELY NOT
10) WILL YOU BE INTERESTED IN GETTING INTO A BUSINESS WITH ZERO
INVESTMENT & HIGH RETURNS?
a) YES b) NO

112. BIBLIOGRAPHY
o Beri G.C., Marketing Research, Tata McGraw Hill
Publishing Co. LTD., New Delhi, Third Edition (2002)
o Saxana Rajan, Marketing Management, Tata McGraw
Hill Publishing Co. LTD, New Delhi, Second Edition
(2001)
o Saxena R.S., Marketing Management, Himalaya
Publication, New Delhi, Ninth Edition (2000)
o Kotlar Philip, Marketing Management, Pren Tice-hall of
India PVT. LTD., New Delhi, Ninth Edition (2002)
o Bhandari, Research Methodology, Print 2004, Second
edition
 Yogakshema(LIC House Magazine)
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