Birla Sun Life Insurance

CONTENTS
1. Introduction to insurance

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6-8 9-10 11 121(19-

2. Fundamental principles of insurance 3. Reasons for taking a life insurance policy . !ision" #ission" !alues $. %ompany &rofile 16 6. 'ales &rocedure 19 (. %ompany)s &roducts 3 (.1 Fle*i &lans (.2%lassic +ife &remier (.3 ,old plus II &lan (. 'upreme +ife &lan (.$ &latinum plus &lan 9. Funds -y .'+I 39 11. %onclusion 12. Recommendation 13. .i-liograp/y

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0 1 1

Birla Sun Life Insurance

1 . 0nne*ure

2-

Insurance" in la1 and economics" is a form of risk management primarily used to

/edge against t/e risk of a contingent loss. Insurance is defined as t/e e2uita-le transfer of t/e risk of a loss" from one entity to anot/er" in e*c/ange for a premium. 0n insurer is a company selling t/e insurance. 3/e insurance rate is a factor used to determine t/e amount" called t/e premium" to -e c/arged for a certain amount of insurance co4erage. Risk management" t/e practice of appraising and controlling risk" /as e4ol4ed as a discrete field of study and practice.5 3/e e4olution of /uman -eings from t/e primordial 61ild) stage to t/e 6ca4e d1elling) stage is not/ing -ut t/eir saga of searc/ for security. 3/eir 2uest for security is eternal. +ife insurance is a de4ice in4ented -y t/em to seek security against t/e most important /a7ards against 1/ic/ t/ey found t/emsel4es 2uite /elpless. It 1ill not -e an e*aggeration to say t/at progress of ci4ili7ation is due to /uman -eings) unending pursuit for security. +ife insurance in its modern form is a 1estern concept. 0lt/oug/ it started taking s/ape since last 300 years" it came to India 1it/ t/e arri4al of t/e 8uropeans .t/e first life insurance company 1as esta-lis/ed in India in 1818 as oriental life insurance company mainly -y 8uropeans to pro4ide for 1ido1s of 8uropeans. 3/e companies t/at follo1ed mainly catered to 8uropeans and c/arge e*tra premium on Indians li4es. 3/e first Indian company" insuring Indian li4es at standard rates" 1as .om-ay mutual life insurance company" 1/ic/ 1as formed in 18(0.t/is 1as t/e year also 1/en t/e first Insurance 0ct 1as passed -y t/e .ritis/ parliament. 3/e years su-se2uent to t/e '1edis/i #o4ement sa1 t/e emerging of se4eral insurance companies.

Birla Sun Life Insurance 3/e end of t/e year 19$$" t/ere 1ere 2 $ insurance companies and pro4ident societies out of 1/ic/ 16 1ere non-Indian companies. 3/ese companies 1ere nationali7ed in 19$6 and -roug/t under one um-rella 9 t/e life insurance corporation of India" 1/ic/ en:oyed monopoly of life insurance -usiness" till almost up to t/e end of year 2000..y enacting t/e IR;0 0ct 2000"t/e go4ernment of India effecti4ely ended +I%)s monopoly and opened t/e doors for pri4ate insurance companies

FUNDAMENTAL PRINCIPLES OF INSURANCE

S me use!u" terms in Insurance# A$ INDEMNIT% 0 contract of insurance contained in a fire" marine" -urglary or any ot/er policy e*cepting life assurance and personal accident and sickness insurance< is a contract of indemnity. 3/is means t/at t/e insured" in case of loss against 1/ic/ t/e policy /as -een issued" s/all -e paid t/e actual amount of loss not e*ceeding t/e amount of t/e policy" i.e. /e s/all -e fully indemnified. 3/e o-:ect of e4ery contract of insurance is to place t/e insured in t/e same financial position" as nearly as possi-le" after t/e loss" as if /is loss /ad not taken place at all. It 1ould -e against pu-lic policy to allo1 an insured to make a profit out of /is loss or damage. &$ UTMOST 'OOD FAIT( 'ince insurance s/ifts risk from one party to anot/er" it is essential t/at t/ere must -e utmost good fait/ and mutual confidence -et1een t/e insured and t/e insurer. In a contract of insurance t/e insured kno1s more a-out t/e su-:ect matter of t/e contract t/an t/e insurer. %onse2uently" /e is duty -ound to disclose accurately all material facts and not/ing s/ould -e 1it//eld or concealed. 0ny fact is material" 1/ic/ goes to t/e root of t/e contract of insurance and /as a -earing on t/e risk in4ol4ed. It is only 1/en t/e insurer kno1s t/e 1/ole trut/ t/at /e is in a position to :udge =a< >/et/er /e s/ould accept t/e risk and =-< >/at premium /e s/ould c/arge. 3

Birla Sun Life Insurance If t/at 1ere so" t/e insured mig/t -e tempted to -ring a-out t/e e4ent insured against in order to get money.

C$ Insura)"e Interest - 0 contract of insurance affected 1it/out insura-le interest is 4oid. It means t/at t/e insured must /a4e an actual pecuniary interest and not a mere an*iety or sentimental interest in t/e su-:ect matter of t/e insurance. 3/e insured must -e so situated 1it/ regard to t/e t/ing insured t/at /e 1ould /a4e -enefit -y its e*istence and loss from its destruction. 3/e o1ner of a s/ip run a risk of losing /is s/ip" t/e c/arterer of t/e s/ip runs a risk of losing /is freig/t and t/e o1ner of t/e cargo incurs t/e risk of losing /is goods and profit. 'o" all t/ese persons /a4e somet/ing at stake and all of t/em /a4e insura-le interest. It is t/e e*istence of insura-le interest in a contract of insurance" 1/ic/ distinguis/es it from a mere 1atering agreement. D$ Causa Pr *ima - 3/e rule of causa pro*ima means t/at t/e cause of t/e loss must -e pro*imate or immediate and not remote. If t/e pro*imate cause of t/e loss is a peril insured against" t/e insured can reco4er. >/en a loss /as -een -roug/t a-out -y t1o or more causes" t/e 2uestion arises as to 1/ic/ is t/e causa pro*ima" alt/oug/ t/e result could not /a4e /appened 1it/out t/e remote cause. .ut if t/e loss is -roug/t a-out -y any cause attri-uta-le to t/e misconduct of t/e insured" t/e insurer is not lia-le. E$ Ris+ - In a contract of insurance t/e insurer undertakes to protect t/e insured from a specified loss and t/e insurer recei4e a premium for running t/e risk of suc/ loss. 3/us" risk must attac/ to a policy. F$ Miti,ati n ! L ss - In t/e e4ent of some mis/ap to t/e insured property" t/e insured must take all necessary steps to mitigate or minimi7e t/e loss" :ust as any prudent person

Birla Sun Life Insurance 1ould do in t/ose circumstances. If /e does not do so" t/e insurer can a4oid t/e payment of loss attri-uta-le to /is negligence. .ut it must -e remem-ered t/at t/oug/ t/e insured is -ound to do /is -est for /is insurer" /e is" not -ound to do so at t/e risk of /is life.

'$ Su)r ,ati n - 3/e doctrine of su-rogation is a corollary to t/e principle of indemnity and applies only to fire and marine insurance. 0ccording to it" 1/en an insured /as recei4ed full indemnity in respect of /is loss" all rig/ts and remedies 1/ic/ /e /as against 3/ird person 1ill pass on to t/e insurer and 1ill -e e*ercised for /is -enefit until /e =t/e insurer< recoups t/e amount /e /as paid under t/e policy. It must -e clarified /ere t/at t/e Insurer)s rig/t of su-rogation arises only 1/en /e /as paid for t/e loss for 1/ic/ /e is lia-le under t/e policy and t/is rig/t e*tends only to t/e rig/ts and remedies a4aila-le to t/e insured in respect of t/e t/ing to 1/ic/ t/e contract of insurance relates. ($ C ntri)uti n - >/ere t/ere are t1o or more insurance on one risk" t/e principle of contri-ution comes into play. 3/e aim of contri-ution is to distri-ute t/e actual amount of loss among t/e different insurers 1/o are lia-le for t/e same risk under different policies in respect of t/e same su-:ect matter. 0ny one insurer may pay to t/e insured t/e full amount of t/e loss co4ered -y t/e policy and t/en -ecome entitled to contri-ution from /is co-insurers in proportion to t/e amount 1/ic/ eac/ /as undertaken to pay in case of loss of t/e same su-:ect-matter. In ot/er 1ords" t/e rig/t of contri-ution arises 1/en 1< 3/ere are different policies" 1/ic/ relate to t/e same su-:ect matter $

Birla Sun Life Insurance 2< 3/e policies co4er t/e same peril 1/ic/ caused t/e loss" and 3< 0ll t/e policies are in force at t/e time of t/e loss" and < ?ne of t/e insurers /as paid to t/e insured more t/an /is s/are of t/e loss.

+ife Insurance &olicy is a form of security for t/e person 1/o insures /is life and /is family. +ife insurance policies /a4e /elped trade and ot/er economic acti4ities to flouris/ in a great manner. It /as generated lots of :o- opportunities. It is looked upon as a lucrati4e career option. +ife insurance companies /a4e also entered t/e international -usiness scenario.

T-e ! "" .in, reas ns su)stantiate .-/ a "i!e insurance p "ic/ s- u"0 )e ta+en# A$ Ear"/ Deat-s
3/e mortality rate is e*periencing a declining trend in many parts of t/e 1orld. @o1e4er it is also important to note t/at t/e age at 1/ic/ &eople die is also e4er decreasing. 'ome reasons for t/is include un/ealt/y li4ing style" stress" pollution" and some natural calamities. 3/is necessitates people to make ade2uate measures to yield income for t/eir family and dependents. 3/is could -e a serious concern if t/e insured /appens to -e t/e sole -read1inner. 'ome indi4iduals see t/is as an option to plan t/eir retirement.

&$ A01ancements in (ea"t- Care

Birla Sun Life Insurance 3/e mortality rate /as declined rapidly e4en t/oug/ t/e fact remains t/at t/e num-er of people 1/o die at an early age is on t/e increase. 3/is is mainly due to t/e ad4ancement in /ealt/care and t/e a1areness on medical facilities. 3/is results in an increased spending at an old age. 3/is increased spending is also due to increase in t/e costs of li4ing apart from paying e*pensi4e medical -ills. Anless t/ey in4est in +ife insurance or ot/er forms of insurance like /ealt/ insurance it -ecomes ne*t only too impossi-le to meet t/e financial demands especially during t/e old days.

C$ Increase in t-e C st ! Li1in, an0 Spen0in, P .er

3/e purc/asing po1er of t/e consumers and t/e standard of li4ing /as e*perienced a steep rise o4er t/e years. 3/e increase in Bational Income and gross domestic product are &artly responsi-le for t/is. Indi4iduals incur many une*pected e*penses due to t/e gro1ing needs. Insurance comes in /andy to meet suc/ an une*pected e*pense. It also #akes sure t/at an indi4idual is a-le to meticulously plan /is finances. Insurance option is more or less an interest free loan. 0n indi4idual can cancel /is insurance policy and o-tain a /uge amount if it is imperati4e in meeting an urgent e*penses and /e does not /a4e alternati4e sources for finance. +ife insurance companies t/erefore do t/e needful to consumers.

D$ Ta* C ncessi ns
Income ta* concessions are a4aila-le to indi4iduals and corporate /ouses t/at adopt insurance policies. #any /a4e -een making in4estments in Insurance 1it/ t/e sole aim of en:oying ta* -enefits. 3/is naturally increases spending po1er. 'ince t/e in4estments increases t/e economic acti4ities in t/e country automatically increases.

Birla Sun Life Insurance

2ISION
To be a world class provider of financial security to individuals and corporates and to be amongst the top three private sectors life insurance companies in India.

MISSION
To be the first preference of our customers by providing innovative, need based life insurance and retirement solutions to individuals as well as corporates. These solutions will be made available by well-trained professionals through a multi channel distribution network and Superior technology.

Birla Sun Life Insurance

Our endeavor will be to provide constant value addition to customers throughout their relationship with us, within the regulatory framework. We will provide career development opportunities to our employees and The highest possible returns to our shareholders.

2ALUES
Integrity: Honesty in every action. Commitment: Deliver on the promise Passion: Energized action Seamlessness: Boundary less in letter & spirit Speed: One step ahead always

COMPAN% PROFILE
&ir"a Sun Li!e 3 A C min, T ,et-er O! 2a"ues
&ir"a Sun Li!e is a 4 int 1enture )et.een T-e A0it/a &ir"a 'r up " one of t/e largest -usiness /ouse in India and Sun Li!e Financia" Inc." a leading International Financial 'er4ices ?rgani7ation. 3/e local kno1ledge of t/e 0ditya .irla ,roup com-ined 1it/ t/e e*pertise of 'un +ife Financial Inc. offers a formida-le protection for our future.

Birla Sun Life Insurance 3/e 0ditya .irla ,roup is led -y its c/airman- #r. Cumar #anglam .irla. 3/e ,roup /as o4er 88000 employees across all its units 1orld1ide. 'ome of t/e key organi7ations 1it/ t/e group are @indalco" ,rasim" 0ditya .irla Bu4o" etc. 3/e group is IndiaDs leading -usiness /ouse 1it/ a num-er of key organi7ations. 3/ese are as follo1sE 1. ,rasim 2. Altra3ec/ %ement +td 3. @indalco . Indian 0luminium %ompany +td $. 0ditya .irla Bu4o 6. Idea %ellular +td. 5. &ir"a Sun Li!e Insurance C .Lt0 8. .irla 'un +ife 0sset #gmt. %o.+td 9. .irla 'un +ife ;istri-ution %o. +td 10. &'I ;ata 'ystems 11. Indo ,ulf Fertili7ers +td. 12. .irla ,lo-al Finance +td

'un +ife Financial Inc. and its partners today /a4e operations in key markets 1orld1ide" including %anada" t/e Anited 'tates" t/e Anited Cingdom" @ong Cong" t/e &/ilippines" Fapan" Indonesia" India" %/ina and .ermuda. 'un +ife Financial Inc. is a leading player in t/e life insurance market in %anada. S-are ( "0in, Pattern# In .irla-'un +ife" t/e t1o companies are /a4ing s/are/olding pattern as follo1sE ( G--H 0ditya .irla ,roup 26 G--H 'un +ife Financial Inc.

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Birla Sun Life Insurance T-e ,r up -as 6 )usinesses# 1. #utual Funds 2. >ealt/ #anagement 3. +ife Insurance

&ir"a Sun Li!e Insurance c "t0. is t-e Li!e7Insurance arm ! &ir"a7Sun Li!e .irla 'un +ife Insurance in its ( successful years of operations /as contri-uted significantly to t/e gro1t/ and de4elopment of life insurance industry in India. It pioneered t/e launc/ of Anit +inked +ife Insurance plans amongst t/e pri4ate players in India. It 1as t/e first player in t/e industry to sell its policies t/roug/ t/e .ancassurance route and t/roug/ t/e Internet. It 1as t/e first pri4ate sector player to introduce a &ure 3erm plan in t/e Indian market. 3/is 1as supported -y sales practices" 1/ic/ -roug/t a degree of transparency t/at 1as entirely ne1 to t/e market. 3/e process of getting sales illustrations signed -y customers" offering a free look period on all policies" 1/ic/ are no1 industry standards 1ere introduced -y .'+I. .eing a customer centric company" .'+I /as co4ered more t/an a million li4es since inception and its customer -ase is spread across more t/an 1000 to1ns and cities in India. 0ll t/is /as assisted t/e company

in cementing its place amongst t/e leaders in t/e industry in terms of ne1 -usiness premium income. 3/e company /as a capital -ase of more t/an Rs.6(2 crores.

Man/ ONEs .it- &ir"a Sun Li!e Insurance#

.'+I is a company t/at /as a 4ery uni2ue contri-ution in t/e /istory of Insurance sector. 3/e company not only /as 4arying plans and funds" rat/er also is a pioneer in many aspects. 3/ese pioneering features of .'+I are as follo1sE

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1. Free L

Birla Sun Life Insurance + Peri 0# .'+I offers its policy/olders 1it/ a free look period of 1$

days. %lient gets freedom to /a4e an in-dept/ look o4er all t/e terms and conditions regarding /isI/er life-insurance policy. If /e finds policy not 1ort/ opting for" /e can also return t/e policy" -ut at .'+I" co. people ensures t/is not to /appen. 8. &ancassurance# .'+I pioneered .ancassurance in India. .ancassurance means to include .anks as one of t/e distri-ution c/annels 1it/ t/e company. .'+I is t/e first company" 1/ic/ reali7ed t/at -anks" 1it/ t/eir /uge customer -ase and strong customer loyalty" are a readymade platform to ac2uire ne1 -usiness on a more cost effecti4e and sustaina-le -asis. 6. Unit Lin+e0 Li!e Insurance P"ans# .'+I 1as t/e first in India to introduce Anit +inked &lans. 0 A+I& is an auspicious coming toget/er of security from life 9. insurance and earnings from in4estment. >/ic/ means" apart from securing t/e future t/ey offer efficient returns. 3/ese plans pro4ide t/e customer 1it/ a certain num-er of units" in t/e same 1ay as a mutual-fund /older gets units. A+I&s offer market-linked returns to policy/olders.

5. Sa"es I""ustrati ns# .'+I is t/e first company to introduce 'ales Illustrations in t/e Insurance Industry. 'ales people of .'+I gi4e demonstrations of fund

:. &erformance on t1o points of pro:ections i.e. on 6G and 10G. Bo1 IR;0 /as also made it mandatory to /a4e sales illustrations.

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Birla Sun Life Insurance .'+I)s /as launc/ed %entury 'I&" a uni2ue systematic in4estment plan offering an opportunity to create 1ealt/ 1it/ as little as Rs 1000 per mont/ plus a life insurance co4er of up to 100 times t/e mont/ly installment. 3/is plan comes along 1it/ free term insurance for an indi4idual up to $$ years of age. 3/e life insurance co4er comes at no e*tra cost to t/e in4estor. 3/e co4er is /assle free. 3/e in4estor need not go t/ru any medial test to a4ail of t/e life co4er. 0ll an in4estor needs to do is enroll for %'I& J sign a K;eclaration of ,ood @ealt/5. In case of unfortunate demise of in4estor t/e insurance claim 1ill -e directly paid to t/e nominee -y t/e insurance company =.irla 'un +ife Insurance %ompany<. 0nnouncing t/e launc/ of %entury 'I&" 0nil Cumar" %8?" and .irla 'un +ife #F said" K3/is offering touc/es all aspects of an in4estor)s financial planning needs. >e 1is/ to encourage t/e in4estment /a-it among in4estors -y pro4iding t/em life insurance co4er.5 Insurance co4er to t/e in4estor 1ould continue e4en after t/e 'I&)s minimum maturity tenor of 3 years. 0ny indi4idual -et1een 18 to 6 years of age may in4est in t/is plan. In4estment in t/is plan may -e made t/roug/ 8lectronic clearing system =8%'<" direct de-its or post dated c/e2ues.

5. Ot-ers# 'ome ot/er ?B8s 1it/ .'+I areE 1st to issue daily B0!s of funds for -etter transparency. 1st to /a4e a distinct %RI'I+ -enc/mark.

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Birla Sun Life Insurance 1st to disclose portfolio on a mont/ly -asis. &olicy/olders can 4ie1 t/eir policy details onlineL t/ey can -e accessed from .'+I 1e-site using your uni2ue pass1ord. ?ut of e4ery 100 claims intimated to .'+I 98.28 stands cleared. 0lso t/e a4erage 3urn 0round 3ime =303< E =i< =ii< From t/e receipt of t/e last re2uirement till dispatc/ of c/e2ue is $ days and From intimation of claim till its decision J dispatc/ of c/e2ue is 36 days.

Sa"es Pr ce0ure ! Insurance in &SLI#

.'+I ensures t/at its policy/olders get t/e -est out of t/e policy offered to t/em -y t/eir 0d4isors. For t/is" .'+I follo1s a set procedure of selling Insurance to t/e clients. 3/e sales procedure can -e diagrammatically presented as follo1sE

Birla Sun Life Insurance

'A'&8%3IB,

&R?'&8%3IB,

0&&?IB3#8B3

FIR'3 '0+8' %0++

F?++?> A&'

'0+8' %+?'8;

?FFI%8 >?RC

3/is procedure can -e stepped do1n as follo1sE 1. Pitc-in, t-e cust mer# 3/e first and foremost t/ing is t/at" client s/ould -e ready to purc/ase t/e Insurance plan. Insurance is not a 4ery prefera-le product yet in India. 0nd" t/us" co. /as to -e 4ery 4igilant. 0d4isors" at .'+I" maintain relations/ips and make t/e most of t/eir ,ood1ill. Insurance is a Relations/ip oriented -usiness. Ceeping t/is in mind .'+I also initiated .ancassurance" 1/ere .anks) image of -eing loyal to t/e customers" plays a ma:or role in pitc/ing t/e customer to -uy Insurance. .'+I uses follo1ing routes for distri-uting t/eir &roduct to general pu-licE 1$

Birla Sun Life Insurance a. ;irect &ersonal %ontacts =t/roug/ 0d4isors< -. .ancassurance =t/roug/ .anks< c. &ersonal Relations =t/roug/ co. employees< d. 8*isting &olicy/olders. 8. Sa"es I""ustrati n# .'+I is t/e first company to gi4e demonstration of t/e fund performance i.e. /o1 a certain policy 1ill perform or 1ill gi4e returns. .'+I 0d4isors gi4e sales illustration. Fund performance is s/o1n on 6G and 10G pro:ections. If client find t/ese pro:ected returns suita-le to /isI/er risk profile" /e go for purc/asing t/e policy. 6. Pr p sa" F rm# Bo1 as client is ready to get insured" ad4isor gi4es /im t/e proposal form and asks for all t/e documents re2uired. &roposal form is a page document t/at contains all t/e necessary information related to t/e Insured and t/e ?1ner of t/e policy. ;ocuments re2uired along 1it/ t/e proposal form areE ;ate-?f-.irt/ &roof 0ddress J I; &roof Income %ertificate #edical %ertificates =only if Insurer is a senior citi7en<

. A!ter Sa"es Ser1ice# Bo1 after t/e Insurance is sold" follo1-ups are re2uired. 0d4isor needs to maintain good relations 1it/ t/e policy/older. Insurance co. can ,enerate furt/er -usiness" only if" e*isting policy/olders are satisfied 1it/ t/e ser4ices -eing pro4ided -y t/e ad4isor of t/e co. 3/us" .'+I keeps t/is in mind and .usiness ;e4elopment 8*ecuti4es continuously track t/e needs of t/e policy/olders. .'+I pro4ides t/e policy/olders 1it/ mont/ly updates of t/e fund performance and

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Birla Sun Life Insurance also discloses t/e asset portfolio of t/e fund. 3/is assists t/e policy/olders to manage t/eir policy according to t/eir risk profile. 3/ey can" t/us" c/ange t/eir fund allocation as 1ell as t/e asset allocation in any fund" c/osen -y t/em.

COMPAN% PRODUCTS ; PLANS

0ll t/e plans associated 1it/ .'+I are Anit +inked &lans.

F"e*i P"ans
Fle*i &lans /a4e t/ree 4ariants. 3/ese 4ariants areE 1. Fle*i 'a4e &lus =8ndo1ment &lan< 2. Fle*i %as/ Flo1 =#oney .ack &lan< 3. Fle*i +ifeline =>/ole of +ife &lan< Features# 3/is is a Anit +inked &lan 1it/ guaranteed returns. &ro4ides fle*i-ility 1it/ 3op-Ap Facility. For Muarterly modal premium less t/an Rs.$000" payment can -e made t/roug/ 8%'. &olicy/older can attac/ riders to t/e plan according to /isI/er needs. +i2uidity in t/e form of &artial 1it/dra1als.

3/ree In4estment Fund options are a4aila-le 1it/ t/e policy and policy/older is free to s1itc/ -et1een funds anytime during t/e tenure of t/e policy. 3/e 'um 0ssured may -e increased once in e4ery $ policy years" starting from t/e 6t/ policy year. &remium can -e paid annually" semi-annually" 2uarterly and mont/ly

1(

Birla Sun Life Insurance

Premium In1este0# %ollected &remium is in4ested in t/ree In4estment Fund ?ptions. 3/ese funds areE 1. &rotector 2. .uilder 3. 8n/ancer &ene!its# 1. #aturity .enefitsE 0t maturity" &olicy/older gets t/e /ig/er of t/e guaranteed fund 4alue =min. 3G on premium< or t/e 3otal Fund 4alue. 2. 'ur4i4al .enefitsE =i< 0t t/e end of e4ery $t/ %o4erage .enefit &eriod and t/e remainder on maturity" an amount e2uals to t/e minimum of =a< or =-< mentioned -elo1 1ill -e reduced from t/e guaranteed fund 4alue and transferred to t/e /olding account for t/e purpose of partial 1it/dra1als" 1/ere=a< ,uaranteed Fund !alue =-< 'um 0ssured G as stated -elo1E 30G if t/e %o4erage .enefit &eriod is 10 years. 2$G if t/e %o4erage .enefit &eriod is 1$ years. 20G if t/e %o4erage .enefit &eriod is 20 years. 1$G if t/e %o4erage .enefit &eriod is 2$ years.

If sur4i4al -enefits are not 1it/dra1n" t/ey 1ill continue to -e a part of t/e Fund !alue.

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=ii<

Birla Sun Life Insurance If t/e life insured is a minor" policy/older can 1it/dra1 t/e sur4i4al -enefit payout 1it/in one mont/ from t/e sc/eduled payout date from t/e fund 4alue.

3. ;eat/ .enefitsE A,e at time ! Deat6< 0a/s t 1 /ear A,e 1 %ear t :< %ear On r A!ter attainment ! :< %ears

Deat- &ene!its Fund !alue ?nly @ig/er of 'um 0ssured less all partial 1it/dra1als made in 2 mont/s preceeding t/e deat/ of life insured or t/e fund 4alue or t/e guaranteed fund 4alue. @ig/er of 'um 0ssured less all partial 1it/dra1als made since t/e life insured attained t/e age $8 or t/e fund 4alue or t/e guaranteed fund 4alue.

C-ar,es# 1. #ortality %/argesE 3/ese c/arges are deducted -y canceling units on a mont/ly -asis at t/e pre4ailing B0!. 3/e annual mortality c/arges per 1000 sum assured for sample ages are as follo1sE A,e Ma"e 8< 1.01 6< 1.1( 1 1.16 3 9< 2.1$ 0 1.6$ ( 5< $.$3 2 .03 0 10.660 :< 13.(32

6 Fema"e 0.89 6

2. &artial >it/dra1al %/argesE 2 1it/dra1als in a policy year are free of c/arge. Rs100 for e4ery additional partial 1it/dra1al are c/arged.

19

Birla Sun Life Insurance

C"assic Li!e Premier

3/is is t/e plan t/at not only /elps to sa4e for t/e future -ut also /elps to get ric/ -enefits from t/e in4estments" especially at a time 1/en t/e need for family protection reduces significantly. Features# 3/e plan is a unit linked" non-participating plan. 3/is plan /as t/e option of se4en-in4estment fund 1it/ t/e fle*i-ility to allocate t/e premiums in 4arying proportions into t/e different Fund ?ption. 3op up facility is t/ere. 3/e minimum amount of top ups is 10000. 3/e plan offers furt/er -enefits in t/e form of additional units" 1/ic/ 1ill -e added to t/e Fund 4alue at t/e end of t/e 10t/ policy year. 3/ere is /ig/ li2uidity in t/e form of &artial >it/dra1als and 'urrender .enefits. ;eat/ .enefits" 1/ic/ 1ill -e /ig/er of t/e Fund 4alue or 'um 0ssured" reduced -y t/e applica-le partial 1it/dra1als. E"i,i)i"it/# 8ntry 0geE #inimumE 30 days for 20 J 30 term 8 years for 10 terms 30 years for 1/ole life #a*imumE For 10 years term- 60 years For 20 years term- $0 years For 30 years term- 0 years For >/ole +ife- 60 years ;urationE #inimumE 10 years 20

Birla Sun Life Insurance #a*imumE (0 years =assuming 1/ole life to -e 100 years< #aturity 0geE (0 years for t/e term- 10"20"30 years

100 years for 1/ole life &remium &ayment 3ermE For 10 years term- 3" $yrs or regular co4erage paying period. For 20 yrs" 30yrs term and >/ole +ife- $yrs" 10 yrs or regular co4erage paying period. Premium In1estment# &remium collected is in4ested in 'e4en In4estment Fund ?ptionsE 1. 0ssure 2. &rotector 3. .uilder . 8n/ancer $. %reator 6. #agnifier (. #a*imiser &ene!its# 1. ,uaranteed 0dditionE It is in t/e form of additional units" 1/ic/ is added to t/e fund 4alue on t/e 10t/ policy anni4ersary and on e4ery $ t/ policy anni4ersary t/ereafter" 1/ile policy is in effect. 2. &artial >it/dra1al ?ptionsE &artial >it/dra1als can -e made after 3 policy years or 1/en t/e life insured attains maturity" 1/ic/e4er is later. 3/e minimum partial 1it/dra1al amount is Rs.10000

21

Birla Sun Life Insurance 3. 'urrender .enefitsE &olicy offers t/e fle*i-ility of surrendering t/e policy" if t/e need arises. 3/ere is no surrender c/arge after 6 completed policy years. @o1e4er" if t/e policy is surrendered 1it/in 3 years from inception" t/e surrender 4alue is paid after t/e completion of t/e t/ird policy anni4ersary. . ;eat/ .enefitsE .elo1 $ yearsE If t/e deat/ of t/e life insured take place -efore $ years" only t/e fund 4alue s/all -e paya-le to t/e policy o1ner. .et1een $ to 60 yearsE @ig/er of t/e fund 4alue or t/e sum assured less all applica-le partial 1it/dra1als made in t/e last 2 mont/s preceding t/e deat/ of t/e life insured. 60 years and 0-o4eE @ig/er of t/e fund 4alue or t/e sum assured less all applica-le partial 1it/dra1als made since t/e life insured attained t/e age of $8. $. #aturity .enefitsE ?n maturity of t/e policy" t/e fund 4alue is paya-le. Ander t/e 1/ole life option" on maturity of t/e policy" 1/en t/e life insured attains t/e age of 100" t/en fund 4alue is paya-le and t/e policy 1ill -e terminated. 6. 3a* .enefitsE 3a* -enefits on premium payment are go4erned -y section 80% of t/e Income 3a* 0ct 1961. 3a* 8*emptions on t/e amount recei4ed on maturity in t/e unfortunate e4ent of deat/ and t/e 1it/dra1als are go4erned -y section 10=10;<. (. 0ddition of RidersE &olicy /older can customi7e t/e plan -y adding any of t/e follo1ing 6 ridersE 1. 0ccidental ;eat/ J ;ismem-erment Rider 2. 3erm Rider 3. %ritical Illness Rider . %ritical Illness &lus Rider $. %ritical Illness >omen Rider 6. >ai4er of &remium Rider 22

Birla Sun Life Insurance

C-ar,es# 1. &remium 0llocation %/argesE 3/ese c/arges during t/e premium paying term are as underE P "ic/ %ear C-ar,e 1 13G 2 or 3 G 3/ereafter 2G

3/is c/arge on 3op-up and under1riting e*tra is 2G. 2. #ortality %/argeE 3/is c/arge 1ill -e deducted -y cancellation of units on a mont/ly -asis at t/e pre4ailing B0!. 3/e 0nnual #ortality c/arge per 1000 of t/e 'um at risk for sample ages are as follo1sE A,e Fema"e Ma"e 85 1.023 1.083 65 1.162 1.363 95 2.38$ 3.110 55 6. 1 :5 1$.92 21.06

8.$(1

3. Fund #anagement %/argeE 3/is is c/arged -y ad:ustment of t/e daily B0!s. 3/e c/arge isE 1G p.a. for 0ssure" &rotector" .uilder and 8n/ancer Fund. 1.2$G p.a. for %reator" #agnifier and #a*imiser Fund.

. &olicy administration %/argeE 3/e c/arge is deducted -y canceling units on a mont/ly -asis at t/e pre4ailing B0!. 3/e annual c/arge differs according to t/e +ife Insurance %o4erage 'um 0ssured and +ife Insurance %o4erage &aying &eriod. 3/e ma*imum c/arge is 6.10 and t/e minimum c/arge is 0.00 23

Birla Sun Life Insurance

$. 'urrender %/argeE 3/ese c/arges are le4ied as t/e percentage of t/e annual life insurance co4erage &remium paya-le. %/arges are as follo1sE

P "ic/ %ear Surren0er C-ar,e

(N

30G 20G 1$G 10G 8G 6G BI+

6. Rider &remium %/argeE If t/e riders are attac/ed" t/is c/arge 1ill -e reali7ed -y cancellation of units on a mont/ly -asis -ased on t/e e2ui4alent mont/ly rider co4erage premium paya-le" 1/en rider co4erage payment period e2uals t/e rider co4erage -enefit period.

' "0 P"us II P"an

3/e plan gi4es muc/ more t/an a good insurance co4er" an opportunity to gro1 in4estment for t/e medium term. It is 1ort/ more t/an ,old. Features# It is a Anit +inked" Bon-&articipating" Insurance plan. ;uration of plan is 8 years. &remium paying term of 3 years 1it/ t/e fle*i-ility to reduce premium up to Rs. 10000 from t/e second policy year. 2

Birla Sun Life Insurance &lan also /as 3op-up facility. +i2uidity in t/e form of &artial >it/dra1als and 'urrender .enefits. &lan /as ( fund options. Free unlimited fund s1itc/ing and premium redirection

E"i,i)i"it/# 8ntry 0geE 18 to (0 years. #inimum &remiumE Rs.$0000 #inimum sum 0ssuredE $ * 0nnual &remium

Premium In1estment# &remium collected is allocated in 4arying proportions in se4en in4estment fund options. &olicy/older can s1itc/ -et1een t/e fund options anytime during t/e tenure of t/e policy. 3/e se4en In4estment Funds a4aila-le areE 1. 0ssure 2. &rotector 3. .uilder . 8n/ancer $. %reator 6. #agnifier (. #a*imiser &ene!its# 1. #aturity .enefitsE ?n maturity fund 4alue 1ill -e paid to t/e policy/older. 2. ;eat/ .enefitsE In t/e Anfortunate e4ent of t/e ;eat/ of t/e +ife Insured prior to t/e maturity date of t/e policy" t/e nominee gets t/e greater of =a< Fund !alue =-< 'um 0ssured reduced for partial 1it/dra1al as follo1sE 2$

Birla Sun Life Insurance .efore t/e life insured attains t/e age of 60" t/e sum assured paya-le on deat/ is reduced -y partial 1it/dra1als made in t/e preceeding years. ?nce t/e +ife Insured attains t/e age of 60" t/e 'um 0ssured paya-le on deat/ is reduced -y all partial 1it/dra1als made from age $8 on1ards. 3. 3a* .enefitsE &olicy/older is eligi-le for ta* -enefits AI' 80% and AI' 10=10;< of t/e Income 3a* 0ct 1961. C-ar,es# 1. &remium 0llocation %/argesE It is deducted from premium 1/en recei4ed and -efore allocation of units. AI' 80%- &remium up to Rs.100000 is allo1ed as deduction from ta*a-le income eac/ year. AI' 10=10;< - 3/e .enefits recei4ed under plan are e*empted from ta*.

Policy Charges On Policy Premium On top-up Premium 1 8% 2%

Policy Years 2 4% 2% 3 4% 2% 2% 4+

2. Fund #anagement %/argesE Fund #anagement c/arge not e*ceeding 1.$G per annum of t/e fund 4alue 1ill -e c/arged -y ad:ustments of t/e daily unit price. 3/e c/arge is 1G p.a.- 0ssure" &rotector" .uilder and 8n/ancer 26

Birla Sun Life Insurance 1.2$G p.a. 9 %reator" #agnifier and #a*imiser

3. &olicy 0dministration %/argesE 3/ese c/arges are reco4ered -y canceling units on a mont/ly -asis proportionately from eac/ in4estment fund. 3/e annual Rate per 1000 of 'um 0ssured isE
Policy Charges Policy Administration Charge * 1 19.4 Policy Years 2 19.4 3 19.4 4+ 14.4

O 0n additional $ per 1000 1ill -e c/arged in t/e first 3 policy years only on any e*cess 'um 0ssured o4er Rs. $0000

. #ortality %/argesE 3/ese c/arges are deducted on a mont/ly -asis. 3/ese c/arges are taken -y canceling units proportionately from eac/ of t/e in4estment funds at t/at time. 3/e annual rate per 1000 of 'um 0ssured less fund 4alue for sample ages areE A,e Fema"e Ma"e 85 1.023 1.083 65 1.162 1.363 95 2.38$ 3.110 55 6. 1 :5 1$.92 21.06

8.$(1

2(

Birla Sun Life Insurance $. 'urrender %/argesE 3/ese c/arges are applied 1/en t/e policy/older surrender t/eir policy in t/e first 3 policy years. 3/e surrender c/arge as a percentage of t/e annual policy premium c/osen at issue is
Policy Charges Surrender Charges 1 15% Policy Years 2 12.5% 3 10% 4+ nil

Supreme Li!e P"an

Features# 3/e plan is a Anit +inked Insurance &lan. It pro4ides t/e nominee 1it/ an increased sum assured and -uilds sa4ings faster. 3/e plan offers more protection of money at supremely lo1 cost. &ro4ides 1it/ 'upreme 0ccidental 3&; =3otal &ermanent ;isa-ility<. &olicy/older gets freedom to c/oose premium amount as lo1 as Rs.2$000 3/e plan pro4ides 1it/ 6 In4estment Fund ?ptions. 3/e plan is fle*i-le as it pro4ides t/e policy/older 1it/ 3op-Ap &remium facility to ensure faster gro1t/ in t/e Fund !alue. &artial >it/dra1als" are allo1ed" after 3 years to meet li2uidity needs of t/e policy/older Durati n# &olicy 3ermE 10" 1$" 20" 2$" 30" 3$" 0 Pears. &remium &ayment 3ermE &olicy/older can c/oose to pay premium at s/ort or regular inter4als.

28

Birla Sun Life Insurance Premium In1estment# &remium %ollected is in4estment in si* in4estment fund options. 3/ese funds areE 1. 2. 3. . $. 6. 0ssure &rotector .uilder 8n/ancer %reator #agnifier

&ene!its# 1. ;eat/ .enefitsE ;ou-le ;eat/ .enefits i.e. ;eat/ .enefitsQ 'um 0ssured N 'a4ings Increasing ;eat/ -enefits i.e. ;eat/ .enefitQ 'um 0ssured N 2$G e4ery $t/ year 2. 0ccidental 3&; .enefitE C-ar,es# 1. #ortality %/argesE %/arges are deducted mont/ly -y canceling units from t/e associated fund option. 3/e c/arge is 9$G 2. &olicy 0dministration %/argesE 3/ese c/arges are deducted mont/ly -y canceling units from t/e in4estment fund. 3/e annual c/arge is Rs. (20 on t/e first 1000 'um 0ssured in all years i.e. Rs.3.60 per 1000 'um 0ssured p.a. 3/e additional c/arges for years 1-$ are as follo1sE &olicy/older immediately gets t/e original sum assured up to Rs.$0 lac %o. pays t/e future premiums up to age 60.

3. '1itc/es J RedirectionE &olicy/older gets fle*i-ility to s1itc/ -et1een t/e fund options. 31o s1itc/es are free per annum.

29

Birla Sun Life Insurance Term 1<;15 8<= &an0 1 .($ 3.($ &an0 8 .2$ 3.2$ &an0 6 .00 3.00

3. &remium 0llocation %/argesE 3/ese c/arges are $G for t/e 1st policy year and 2G for su-se2uent policy years. . Fund #anagement %/argesE 3/ese c/arges are 1 9 1.2$G p.a. for all associated funds.

P"atinum P"us P"an

Features# 3/is plan is a Anit +inked" Bon-&articipating" Insurance plan. 0 policy term of 10 years. 0 premium paying term of 3 years. ?ne Inno4ati4e In4estment fund" namely &latinum &lus Fund I. Full +i2uidity after t/ree policy years to meet any cas/ needs. Ani2ue ,uaranteed #aturity Anit &rice representing t/e /ig/est unit plus price of &latinum &lus Fund I recorded on 88 reset dates starting on #arc/ 1(" 2008 and ending on Fune 1$" 201$. E"i,i)i"it/# 8ntry 0ge of +ife InsuredE 18 to (0 Pears. #inimum 0nnual &remiumE Rs. 1"00"000 #inimum 'um 0ssuredE $*0nnual &remium.

Premium C ""ecte0 is in1este0 in t-e E>uit/ ? De)t Mar+et acc r0in, t t-e preset Asset A"" cati n ! t-e P"atinum P"us Fun0 I. 30

Birla Sun Life Insurance &ene!its# 1. ,uaranteed #aturity Anit &rice #inimum of Rs. 10 on t/e first Reset ;ate 0t maturity" is t/e /ig/est Anit &rice recorded on 88 Reset ;ates

2. #aturity .enefits Bum-er of units multiplied -y /ig/er of ,uaranteed #aturity Anit &rice or pre4ailing Anit &rice at maturity 3. 'urrender .enefits Full li2uidity after 3 policy years 9100G Fund !alueO

. ;eat/ .enefits @ig/er of Fund !alue =as per t/e t/en pre4ailing unit price< or 'um 0ssured =less applica-le partial 1it/dra1als< $. 3a* .enefits AI' 80%- &remium up to Rs.100000 is allo1ed as deduction from ta*a-le income eac/ year. AI' 10=10;< - .enefits from t/e plan are e*empted from ta*. C-ar,es# 1. &remium 0llocation %/argesE 10G of premium in t/e first year and G of premium in su-se2uent years. 2. Fund #anagement %/argesE 1.00G-1.$0G p.a. for 0ssure J 1.$0G2.00G p.a. for &latinum &lus Fund I. 3. &olicy 0dministration %/argesE 3/ese c/arges are deducted mont/ly -y canceling units from t/e in4estment fund 0ssure first and t/en" from &latinum &lus I" if re2uired. 3/e annual c/arge is Rs. (20 on

31

Birla Sun Life Insurance

t/e first 1000 'um 0ssured in all years plus Rs.6 per 1000 'um 0ssured in years 1 to 3 only. . #ortality %/argesE %/arges are deducted mont/ly -y canceling units from t/e associated in4estment funds. 3/e 0nnual %/arges for sample ages are as follo1sE
Attaine0 A,e Fema"e Ma"e

85 1.02 3 1.08 3

65 1.16 2 1.36 3

95 2.38 $ 3.11 0

55 6. 1 8.$( 1

:5 1$.920 21.060

$. 'urrender %/argesE 3/is c/arge" as a percentage of t/e annual premium at issue" is 16G" 13G and 10G for policy year 1" 2 and 3 respecti4ely. 6. Re4i4al %/argeE 3/e c/arge for policy re4i4al is Rs. 100-1000 per re4i4al

FUNDS &% &SLI

.irla 'un +ife Insurance" a leading +ife Insurance company" offers its clients 1it/ a long range of Funds. 3/ese funds are designed to cater to a 4ariety of needs of people 1/o are from different life stages. .'+I offers a -road range of 12 funds" eac/ /a4ing differing asset allocations. 32

Birla Sun Life Insurance 18 !un0s !!ere0 are# 1. Indi4idual &rotector 2. Indi4idual 0ssure 3. Indi4idual .alancer . Indi4idual .uilder $. Indi4idual %reator 6. Indi4idual 8n/ancer (. Indi4idual +ife #a*imiser 8. Indi4idual #agnifier 9. Indi4idual #ultiplier 10. &ension Bouris/ 11. &ension 8nric/ 12. &ension ,ro1t/ 0 ne1 fund named P"atinum P"us Fun0 I is also added in t/is list of funds. 0sset 0llocation is decided -y t/e Fund #anagers of t/e company. 3/ese fund managers continuously tracks t/e mo4ements of 4olatile market and com-ine t/is 4olatility 1it/ t/e fund re2uirements of t/e policy/olders. 0ccordingly /e decides allocation of assets in $ ma:or in4estment optionsE ,o4ernment 'ecurities %orporate ;e-t 'ecuriti7ed ;e-t 82uity #oney #arket Instruments

&roportion of allocating t/e fund in t/ese options" 4ary according to t/e needs and fund re2uirements of policy/olders. 3/e most important t/ing to -e noticed /ere is t/at t/is

33

Birla Sun Life Insurance portfolio is decided" -ased on t/e regulations of IR;0. &erformances of t/ese funds are rated -y t/e rating agency-%RI'I+. 0ll t/e 12 funds -y .'+I are descri-ed -elo1 along 1it/ t/eir respecti4e 0sset 0llocations.

In0i1i0ua" Assure
O)4ecti1e# 3/e primary o-:ecti4e of t/is fund is to pro4ide %apital &rotection" at a /ig/ le4el of safety and li2uidity t/roug/ :udicious in4estments in /ig/ 2uality s/ort-term de-t. Strate,/# ,enerate -etter return 1it/ lo1 le4el of risk t/roug/ in4estment into fi*ed interest securities /a4ing s/ort-term maturity profile. Asset A"" cati n# SECURITIES %orporate ;e-t #oney #arket Instruments TOTAL (OLDIN' $9.$(G 1(.9(G 1<<.<<@

Birla Sun Life Insurance

HOLDING

59.57%

Corporate Debt Money Mar et In!tr"#ent! $O$%L

100.00%

17.97%

In0i1i0ua" &a"ancer
O)4ecti1e# 3/e o-:ecti4e of t/is fund is to ac/ie4e 4alue creation of t/e policy/older at an a4erage risk le4el o4er medium to long-term period. Strate,/# 3/e strategy is to in4est predominantly in de-t securities 1it/ an additional e*posure to e2uity" maintaining medium term duration profile of t/e portfolio. Asset A"" cati n# SECURITIES ,o4ernment 'ecurities %orporate ;e-t 82uity #oney #arket Instruments (OLDIN'S 10.6(G 39.0 G 23. G

26.8$G

3$

Birla Sun Life Insurance TOTAL 1<<.<<@

HOLDING&

2'.85%

10.'7% Go)ern#ent &e*"ritie! Corporate Debt +,"ity (9.04% Money Mar et In!tr"#ent!

2(.44%

Pensi n 'r .tO)4ecti1e# 3/is fund option is designed to -uild t/e capital and to generate -etter returns at moderate le4el of risk" o4er a medium or long-term period t/roug/ a -alance of in4estment in e2uity and de-t. Strate,/# ,enerate -etter return 1it/ moderate le4el of risk t/roug/ acti4e management of fi*ed income portfolio and focus on creating long term e2uity portfolio 1/ic/ 1ill en/ance yield of composite portfolio 1it/ lo1 le4el of risk appetite. Asset A"" cati n# SECURITIES 36 (OLDIN'S

Birla Sun Life Insurance ,o4ernment 'ecurities %orporate ;e-t 82uity #oney #arket Instruments TOTAL 13.90G $. 1G 18.63G 22.06G 1<<.<<@

HOLDING&

22.0'%

1(.90% Go)ern#ent &e*"ritie! Corporate Debt +,"ity

18.'(%

45.41%

Money Mar et In!tr"#ent!

Pensi n EnricO)4ecti1e# @elps to gro1 t/e capital t/roug/ en/anced returns o4er a medium to long-term period t/roug/ in4estments in e2uity and de-t instruments" t/ere-y pro4iding a good -alance -et1een risk and return. Strate,/# 3o earn capital appreciation -y maintaining di4ersified e2uity portfolio and seek to earn regular return on fi*ed income portfolio -y acti4e management resulting in 1ealt/ creation for policy/olders. Asset A"" cati n# SECURITIES 3( (OLDIN'S

Birla Sun Life Insurance ,o4ernment 'ecurities %orporate ;e-t 82uity #oney #arket Instruments TOTAL 1 .3$G 39. 0G 32.69G 13.$(G 1<<.<<@

HOLDING&

1(.57%

14.(5% Go)ern#ent &e*"ritie! Corporate Debt +,"ity

(2.'9%

(9.40%

Money Mar et In!tr"#ent!

CONCLUSION ?ur training 1as a 4ery enric/ing e*perience for us" 1e /a4e learnt so many t/ings" and 1e got insig/t into t/e insurance 1orld. Insurance sector today playing a ma:or role in e4eryone)s life lot more t/an e4er -efore life
38

Birla Sun Life Insurance

currently t/ere is a compre/ensi4e range of products co4ering eac/ type of policy a4aila-le in t/e market. >e /a4e studied 4arious insurance plans co4ered under .'+I" and t/eir features. .'+I also gi4es 4arious Riders" 1/ic/ pro4ides e*tra -enefits to t/e customers. 0nd 1e came to kno1 a-out t/e pioneering features of .'+I" like sales procedure" 'I&" etc. >/ile most insurance plans -lock money for certain period of time" a .'+I plan gi4es t/e dou-le -enefit of life insurance along 1it/ easy li2uidity t/roug/ lump sum cas/. .irla 'un +ife Insurance =.'+I<" one of t/e largest pri4ate life insurers" is gearing itself to take ad4antage of t/e 4ast rural opportunity t/at /as opened up as a result of t/e re4ised definition of rural areas -y t/e IR;0. ?4er t/e last four years" .'+I /as painstakingly -uilt its rural infrastructure to create a cost-effecti4e distri-ution net1ork across t/e country. ?ur training ga4e us corporate e*posure" and /elped in impro4ing our communication skills. >e learnt to deal 1it/ customers" 1e made t/em a1are a-out 4arious plans" and t/eir respecti4e features" e4en /elped t/em to select t/e -est plan as per t/eir re2uirements.

39

Birla Sun Life Insurance

RECOMMENDATIONS
1. %ompetition from pu-lic sector and foreign -anks remains a key c/allenge for pri4ate sector customers. 2. 3/ey /a4e to update t/eir portfolio timely. 3. .irla 'un +ife Insurance +td s/ould /a4e proper di4ision of departments under /eads. . .irla 'un +ife Insurance +td s/ould /a4e more pension plans. $. .irla 'un +ife Insurance +td s/ould /a4e more c/ildren plans" and more /elp line plans 6. 3/ey s/ould pro4ide more information to t/e customer so t/at t/ey -ecome more a1are a-out insurance -anks. 3/ey need to reorient t/eir staff and effecti4ely utili7e tec/nology platforms to retain

&I&LIO'RAP(%

1. 111.-irlasunlife.com ;ated 13I6I08 3ime 3E30

2. 111.&aisa1aisa.comI+ifeInsurance ;ated 13I6I08 3ime

6. %ompany -roc/ure 9. %ompany -roc/ureI ,?+;- &+A'II &+0BI !er 01I12I0(

E00

Birla Sun Life Insurance 5. %ompany -roc/ureI %lassic +ife &remierI !er 8I9I0(

Birla Sun Life Insurance

ANNEAURE

1. D / u ma+e in1estmentsB A.%es &.N 8. ( . muc- / u earn annua""/B A. &e" . 5<C<<< &. 5<C<<<71<<C<<< C.1<<C <<<71C 5<C<<< D. A) 1e 15<<<< 6. D / u +n . a) ut insuranceB A. %es &. N 9. D / u +n . a) ut &SLIB A. %es &.N

Birla Sun Life Insurance

5. ( . 0i0 / u came t +n . a) ut itB A Ne.spapers &. On"ine C. Pers na" Re!erence D. Ot-er

:. D-at assets 0 / u .nB A. Pers na" - use &.Car C.Cre0it car0

5. D-ere . u"0 / u "i+e t in1estB A. Mutua" Fun0 &.St c+s C.Rea" estate D.Insurance
3

Birla Sun Life Insurance

E. D-at . u"0 u "i+e t insureB A. 2e-ic"e &.Li!e insurance

F. D-ic- insurance p"an ! &SLI are / u intereste0 inB A.Sara" Gee1an &.' "0 P"us II C.P"atinum P"us D.C"assic Li!e Premier

1<. ( . 0 / u rate ur p"ansB A. A1era,e &. ' 0 C. E*ce""ent

Birla Sun Life Insurance

Birla Sun Life Insurance

Birla Sun Life Insurance

Birla Sun Life Insurance

Birla Sun Life Insurance

Birla Sun Life Insurance

$0

Birla Sun Life Insurance

$1

Birla Sun Life Insurance

$2