Investment Analysis of Birla Sun Life

BIRLA SUNLIFE AND OTHER COMPANY
INTRODUCTION
Life insurance
Life insurance or life assurance is a contract between the policy owner and
the insurer, where the insurer agrees to pay a designated beneficiary a sum of
money upon the occurrence of the insured individual's or individuals' death or other
event, such as terminal illness or critical illness. In return, the policy owner agrees
to pay a stipulated amount at regular intervals or in lump sums. There may be
designs in some countries where bills and death expenses plus catering for after
funeral expenses should be included in Policy Premium. In the United States, the
predominant form simply specifies a lump sum to be paid on the insured's demise.
Life insurance (Life Assurance in British English) is a type of insurance. As in all
insurance, the insured transfers a risk to the insurer. The insured pays a premium
and receives a policy in exchange. The risk assumed by the insurer is the risk of
death of the insured.
How life insurance works
There are three parties in a life insurance transaction; the insurer, the insured, and
the owner of the policy (policyholder), although the owner and the insured are often
the same person. For example, if John Smith buys a policy on his own life, he is both
the owner and the insured. But if Mary Smith, his wife, buys a policy on John's life,
she is the owner and he is the insured. The owner of the policy is called the grantee
(he or she will be the person who will pay for the policy). Another important person
involved is the beneficiary. The beneficiary is the person or persons who will receive
the policy proceeds upon the death of the insured. The beneficiary is not a party to
the policy, but is designated by the owner, who may change the beneficiary unless
the policy has an irrevocable beneficiary designation. With an irrevocable
beneficiary, that beneficiary must agree to changes in beneficiary, policy
assignment, or borrowing of cash value.
The policy, like all insurance policies, is a legal contract specifying the terms and
conditions of the risk assumed. Special provisions apply, including a suicide clause
wherein the policy becomes null if the insured commits suicide within a specified
time for the policy date (usually two years). Any misrepresentation by the owner or
insured on the application is also grounds for nullification. Most contracts have a
contestability period, also usually a two-year period; if the insured dies within this
period, the insurer has a legal right to contest the claim and request additional
information before deciding to pay or deny the claim.
The face amount of the policy is normally the amount paid when the policy matures,
although policies can provide for greater or lesser amounts. The policy matures
when the insured dies or reaches a specified age. The most common reason to buy
a life insurance policy is to protect the financial interests of the owner of the policy
in the event of the insured's demise. The insurance proceeds would pay for funeral
and other death costs or be invested to provide income replacing the deceased's
wages. Other reasons include estate planning and retirement. The owner (if not the
insured) must have an insurable interest in the insured, i.e. a legitimate reason for
insuring another persons life. The insurer (the life insurance company) calculates
the policy prices with an intent to recover claims to be paid and administrative
costs, and to make a profit. The cost of insurance is determined using mortality
tables calculated by actuaries. Actuaries are professionals who use actuarial science
which is based in mathematics (primarily probability and statistics). Mortality tables
are statistically based tables showing average life expectancies. The three main
variables in a mortality table are age, gender, and use of tobacco. The mortality
tables provide a baseline for the cost of insurance. In practice, these mortality
tables are used in conjunction with the health and family history of the individual
applying for a policy in order to determine premiums and insurability. The current
mortality table being used by life insurance companies in the United States and
their regulators was calculated during the 1980s. There is currently a measure being
pushed to update the mortality tables by 2008.
The current mortality table assumes that roughly 2 in 1,000 people aged 25 will die
during the term of coverage. This number raises roughly quadratic ally to about 25
in 1,000 people for those aged 65. So in a group of one thousand 25 year old males
with a $100,000 policy, a life insurance company would have to, at the minimum,
collect $200 a year from each of the thousand people to cover the expected claims.
The insurance company receives the premiums from the policy owner and invests
them to create a pool of money from which to pay claims, and finance the insurance
company's operations. Contrary to popular belief, the majority of the money that
insurance companies make comes directly from premiums paid, as money gained
through investment of premiums will never, in even the most ideal market
conditions, vest enough money per year to pay out claims. Rates charged for life
insurance increase with the insured's age because, statistically, a people are more
likely to die as they get older.
Since adverse selection can have a negative impact on the financial results of the
insurer, the insurer investigates each proposed insured (unless the policy is below a
company-established minimum amount) beginning with the application, which
becomes part of the policy. Group Insurance policies are an exception. This
investigation and resulting evaluation of the risk is calledunderwriting. Health and
lifestyle questions are asked, and the answers are dutifully recorded. Certain
responses by the insured will be given further investigation. Life insurance
companies in the United States support The Medical Information Bureau, which is
a clearinghouse of medical information on all persons who have ever applied for life
insurance. As part of the application, the insurer receives permission to obtain
information from the proposed insured's physicians. Life insurance companies are
never required by law to underwrite or to provide coverage on anyone. They alone
determine insurability, and some people, for their own health or lifestyle reasons,
are uninsurable. The policy can be declined (turned down) or rated. Rating means
increasing the premiums to provide for additional risks relative to that particular
insured.
Many companies use four general health categories for those evaluated for a life
insurance policy. These categories are Preferred Best, Preferred, Standard,
and Tobacco. Preferred Best means that the proposed insured has no adverse
medical history, is not under medication for any condition, and his family
(immediate and extended) have no history of early cancer, diabetes, or other
conditions. Preferred is like Preferred Best, but it allows that the proposed insured is
currently under medication for the condition and may have some family history.
Most people are in the Standard category. Profession, travel, and lifestyle also factor
into not only which category the proposed insured falls, but also whether the
proposed insured will be denied a policy. For example, a person who would
otherwise be in the Preferred Best category will be denied a policy if he or she
travels to a high risk country.
Upon the death of the insured, the insurer will require acceptable proof of death
before paying the claim. The normal minimum proof is a death certificate and the
insurer's claim form completed, signed, and often notarized. If the insured's death
was suspicious and the policy amount warrants it, the insurer may investigate the
circumstances surrounding the death, before deciding whether there is a legal
obligation to pay the claim. Proceeds from the policy may be paid in a lump sum or
as an annuity paid over time in regular recurring payments for either for the life of a
specified person or a specified time period.
What is Insurance?
Insurance is a contract for reducing losses from accident incurred by an individual
party through a distribution of the risk of such losses among a number of parties. It
is a system under which the insurer, for a consideration usually agreed upon in
advance, promises to reimburse the insured or to render services to the insured in
the event that certain accidental occurrences result in losses during a given period.
It thus is a method of coping with risk. Its primary function is to substitute
certainty for uncertainty as regards the economic cost of 1oss-producing
eventsis concerned. Thus, In return for a specified consideration, the insurer
undertakes to pay the insured or his beneficiary some specified amount in the event
that the insured suffers loss through the occurrence of a contingent event covered
by the insurance contract or policy. By pooling both the Financial contributions and
the "insurable risks" of a large number of policyholders, the insurer is typically able
to absorb losses incurred over any given period much more easily than would the
uninsured individual. Insurance relies heavily on the "1aw of 1arge numbers." In
large homogeneous populations it is possible to estimate the normal frequency of
common events such as deaths and accidents. Losses can be predicted with
reasonable accuracy, and this accuracy increases as the size of the group expands.
From a theoretical standpoint, it is possible to eliminate all pure risk if an infinitely
large group is selected. The risks must be such that pooling is both feasible and
advantageous to the two parties.
From the standpoint of the insurer, an insurable risk must meet the following
requirements:
1.
The objects to be insured must be numerous enough and
homogeneous enough to allow a reasonably close calculation of the probable
Frequency and severity of looses
2.
The insured objects must not be subject to simultaneous destruction.
For example, if all the buildings insured by one insurer are in an area subject to
flood, and a flood occurs, the loss to the insurance underwriter may be catastrophic
3.
The possible loss must be accidental in nature, and beyond the control
of insured. If the insured could cause the loss, the element of randomness and
predictability would be destroyed.
4.
There must be some way to determine whether a loss has occurred
and how great that loss is. This is why insurance contracts specify very definitely
what events must take place, what constitutes loss, and how it is to be measured.
From the viewpoint of the insured person, an insurable risk is one for which the
probability of loss is not so high as to require excessive premiums. What is
"excessive" depends on individual circumstances, including the insured's attitude
toward risk. At the same time, the potential loss must be severe enough to cause
financial hardship if it is not insured against.
Insurable risks include: Losses to property resulting from fire, explosion, windstorm, etc;
Losses of life or health; and the legal liability arising out of use of automobiles,
Occupancy of buildings, employment, or manufacture.
Uninsurable risks include:

Losses resulting from price changes and competitive conditions in the market.
Political risks such as war or currency debasement are usually not

insurable by private parties but may be insurable by governmental institutions.
Very often contracts can be drawn in such a way that an "uninsurable risk" can be
turned into an "insurable" one through restrictions on losses, redefinitions of perils,
or other methods.
INSURANCE IN INDIA
The insurance sector in India has come a full circle from being an open competitive
Market to nationalization and back to a liberalized market again. Tracing the
Developments in the Indian insurance sector reveals the 360 degree turn witnessed
over a Period of almost two centuries.
A brief history of the Insurance sector
The business of life insurance in India in its existing form started in India in the year
1818 with the establishment of the Oriental Life Insurance Company in Calcutta.
Some of the important milestones in the life insurance business in India are:
1912: The Indian Life Assurance Companies Act enacted as the first statute to
regulate the life insurance business.
1928: The Indian Insurance Companies Act enacted to enable the government to
collect statistical information about both life and non-life insurance businesses.
1938: Earlier legislation consolidated and amended to by the Insurance Act with the
objective of protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers and provident societies taken over by the
central government and nationalized. LIC formed by an Act of Parliament, viz. LIC
Act,
1956, with a capital contribution of Rs. 5 core from the Government of India.
The General insurance business in India, on the other hand, can trace its roots to
the Triton Insurance Company Ltd., the first general insurance company established
in the year 1850 in Calcutta by the British. Some of the important milestones in the
general insurance business in India are:
1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all
classes of general insurance business.
1957: General Insurance Council, a wing of the Insurance Association of India,

frames a code of conduct for ensuring fair conduct and sound business practices.
1968: The Insurance Act amended to regulate investments and set minimum
solvency margins and the Tariff Advisory Committee set up.
1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the
general insurance business in India with effect from 1st January 1973.107 insurers
amalgamated and grouped into four companies viz. the National Insurance
Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance
Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a
company.
Insurance sector reforms

In 1993, Malhotra Committee, headed by former Finance Secretary and RBI
Governor R.N. Malhotra, was formed to evaluate the Indian insurance industry and
recommend its future direction. The Malhotra committee was set up with the
objective of complementing the reform initiated in the financial sector.
The reforms were aimed at creating a more efficient and competitive financial
system suitable for the requirements of the economy keeping in mind the structural
changes currently underway and recognizing that insurance is an important part of
the overall financial system where it was necessary to address the need for similar
reformsIn 1994, the committee submitted the report and some of the key
recommendations included:
Structure
Government stake in the insurance Companies to be brought down to 50%
Government should take over the holdings of GIC and its subsidiaries so that
these subsidiaries can act as independent corporations
All the insurance companies should be given greater freedom to operate
Competition
Private Companies with a minimum paid up capital of Rs.1bn should be

allowed
To enter the industry No Company should deal in both Life and General
Insurance through a single Entity
Foreign companies may be allowed to enter the industry in collaboration with

the domestic companies
Postal Life Insurance should be allowed to operate in the rural market
Only one State Level Life Insurance Company should be allowed to operate in
Each state
Regulatory Body
The Insurance Act should be changed
An Insurance Regulatory body should be set

up.
Controller of Insurance (Currently a part from the Finance Ministry) should be

Made independent
Investments
Mandatory Investments of LIC Life Fund in government securities to be

reduced From 75% to 50%
GIC and its subsidiaries are not to hold more than 5% in any company (There
Current holdings to be brought down to this level over a period of time)
Customer Service
LIC should pay interest on delays in payments beyond 30 days
Insurance companies must be encouraged to set up unit linked pension

plans
Computerization of operations and updating of technology to be carried out in

the insurance industry The committee emphasized that in order to improve the
customer services and increase the coverage of the insurance industry should be
opened up to competition. But at the same time, the committee felt the need to
exercise caution as any failure on the part of new players could ruin the public
confidence in the industry.
Hence, it was decided to allow competition in a limited way by stipulating the
minimum capital requirement of Rs.100 cores. The committee felt the need to
provide greater autonomy to insurance companies in order to improve their
performance and enable them to act as independent companies with economic
motives. For this purpose, it had proposed setting up an independent regulatory
body.
The Insurance Regulatory and Development Authority
Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in
Parliament in December 1999. The IRDA since its incorporation as a statutory body
in April 2000 has fastidiously stuck to its schedule of framing regulations and
registering the private sector insurance companies.
The other decisions taken simultaneously to provide the supporting systems to the
Insurance sector and in particular the life insurance companies were the launch of
the IRDAs online service for issue and renewal of licenses to agents.
The approval of institutions for imparting training to agents has also ensured that
the insurance companies would have a trained workforce of insurance agents in
place to sell their products, which are expected to be introduced by early next year.
Since being set up as an independent statutory body the IRDA has put in a
framework of globally compatible Regulations. In the private sector 12 life insurance
and 6 general insurance companies have been registered.
Public Life Insurance Company is:
LIC
There are 12 private life insurance companies and 1 public life insurance company.
These are:
Allianz Bajaj
ICICI- Prudential
Max- New York Life
HDFC- Standard Life Insurance
ING- Vysya
TATA- AIG Life
Birla- Sun life
Om Kotak Life
Aviva
Met Life
AMP Sammar
SBI Life
The Insurance Regulatory and Development Authority Act, 1999

To permit the private companies to enter the insurance market, the Government
enacted the Insurance Regulatory and Development Authority Act 1999, which was
passed by the parliament in December 1999. It received Presidential assent in
January 2000.
The authority is a ten member team consisting of
a) A Chairman;
b) Five whole-time members;
c) Four part-time members.
FINANCIAL RELATIONS
It is mandatory for each and every company to have paid up capital of Rs 100
crore prior to grant of license.
85% of premium collected by any insurer has to be invested in the government
approved i.e. Central government, state government and other approved
infrastructure bonds and securities
Although all private insurance companies can have a foreign partner to the
extent of 26% in their equity, not a single rupee can be invested out of India i.e. in
foreign investment. Now the foreign partner can have joint venture ship with 45%of
equity.
An amount equal to 95% of profits generated every year has to be compulsorily
distributed among policyholders as bonus.
A check n management expenses has been sought with a restriction that it
cannot be more than 15% of the total earnings of the insurance company in a year.
SCOPE & IMPORTANCE OF STUDY
To determine and analyzed the Market Potential of the Birla Sun Life
Insurance Company in Moradabad City.
To study the overall scenario currently prevailing in the market, namely, the per
capital income, purchasing power, occupation, literacy rate, etc.
To study and determine the competitor position in the market.
To give benefit to the people as well as to earn profit.
To do a performance evaluation of Birla Sun Life Insurance products in comparison

on with other insurance companies
LITERATURE REVIEW
Insurance is a must because of the uncertain future adversities of life. Accidents,

illnesses, disability etc are facts of life that can be extremely devastating. Other
than the hospitalization, medication bills these may run up its the aftermath of the
incident, the physical well being of the individual that has to be taken into
consideration. Will the individual be in a position to earn as before? A pertinent
question, But what if he is not? Disability can be taken care of by insurance. Your
family will not have to go through the grind due to your present inability.
You think twice before taking the plunge into buying insurance. Is buying
insurance a necessity now? Spending an 'extra' amount as premium at regular
intervals where you do not see immediate benefits does not seem a necessity at the
moment. May be later well you could be wrong. Buying Insurance cannot be
compared with any other form of investment. Insurance gives you a life long benefit
and the returns will definitely come but only when you need it the most i.e. at the
right time. Besides buying insurance early in life is one of the wise decisions you
could take. Because the premium you would be paying would be comparatively
lower.
INSURANCE HISTORY
INSURANCE IN INDIA
The insurance sector in India has come a full circle from being an open competitive
market to nationalization and back to a liberalized market again. Tracing the
developments in the Indian insurance sector reveals the 360 degree turn witnessed
over a period of almost two centuries.
A brief history of the Insurance sector
The business of life insurance in India in its existing form started in India in the year
1818 with the establishment of the Oriental Life Insurance Company in Calcutta.
Some of the important milestones in the life insurance business in India are:
1912: The Indian Life Assurance Companies Act enacted as the first statute to
regulate the life insurance business.
1928: The Indian Insurance Companies Act enacted to enable the government to
collect statistical information about both life and non-life insurance businesses.
1938: Earlier legislation consolidated and amended to by the Insurance Act with the
objective of protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers and provident societies taken over by the
central government and nationalized. LIC formed by an Act of Parliament, viz. LIC
Act,
1956, with a capital contribution of Rs. 5 core from the Government of India. The
General insurance business in India, on the other hand, can trace its roots to the
Triton Insurance Company Ltd., the first general insurance company established in
the year 1850 in Calcutta by the British.
Some of the important milestones in the general insurance business in

India are:
1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all
classes of general insurance business.
1957: General Insurance Council, a wing of the Insurance Association of India,
frames a code of conduct for ensuring fair conduct and sound business practices.
1968: The Insurance Act amended to regulate investments and set minimum
solvency margins and the Tariff Advisory Committee set up.
1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the
general insurance business in India with effect from 1st January 1973. 107 insurers
amalgamated and grouped into four companys viz. the National Insurance
Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance
Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a
company.
Insurance sector reforms
In 1993, Malhotra Committee, headed by former Finance Secretary and RBI
Governor R.N. Malhotra, was formed to evaluate the Indian insurance industry and
recommend its future direction. The Malhotra committee was set up with the
objective of complementing the reforms initiated in the financial sector. The reforms
were aimed at creating a more efficient and competitive financial system suitable
for the requirements of the economy keeping in mind the structural changes
currently underway and recognizing that insurance is an important part of the
overall financial system where it was necessary to address the need for similar
reforms
In 1994, the committee submitted the report and some of the key recommendations
included:
i) Structure
Government stake in the insurance Companies to be brought down to 50%
Government should take over the holdings of GIC and its subsidiaries so that these
subsidiaries can act as independent corporations.
All the insurance companies should be given greater freedom to operate
ii) Competition
Private Companies with a minimum paid up capital of Rs.1bn should be allowed to
enter the industry
No Company should deal in both Life and General Insurance through a single entity
Foreign companies may be allowed to enter the industry in collaboration with the
domestic companies
Postal Life Insurance should be allowed to operate in the rural market
Only one State Level Life Insurance Company should be allowed to operate in each
state
iii) Regulatory Body
The Insurance Act should be changed
An Insurance Regulatory body should be set up
Controller of Insurance (Currently a part from the Finance Ministry) should be made
independent
iv) Investments
Mandatory Investments of LIC Life Fund in government securities to be reduced
from 75% to 50%
GIC and its subsidiaries are not to hold more than 5% in any company (There
current holdings to be brought down to this level over a period of time)
v) Customer Service
LIC should pay interest on delays in payments beyond 30 days
Insurance companies must be encouraged to set up unit linked pension plans
Computerization of operations and updating of technology to be carried out in the
insurance industry. The committee emphasized that in order to improve the
customer services and increase the coverage of the insurance industry should be
opened up to competition. But at the same time, the committee felt the need to
exercise caution as any failure on the part of new players could ruin the public
confidence in the industry. Hence, it was decided to allow competition in a limited
way by stipulating the minimum capital requirement of Rs.100 cores. The
committee felt the need to provide greater autonomy to insurance companies in
order to improve their performance and enable them to act as independent
companies with economic motives. For this purpose, it had proposed setting up an
independent regulatory body.
The Insurance Regulatory and Development Authority
Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in
Parliament in December 1999. The IRDA since its incorporation as a statutory body
in April 2000 has fastidiously stuck to its schedule of framing regulations and
registering the private sector insurance companies.
The other decisions taken simultaneously to provide the supporting systems to the
insurance sector and in particular the life insurance companies were the launch of
the IRDAs online service for issue and renewal of licenses to agents. The approval
of institutions for imparting training to agents has also ensured that the insurance
companies would have a trained workforce of insurance agents in place to sell their
products, which are expected to be introduced by early next year. Since being set
up as an independent statutory body the IRDA has put in a framework of globally
compatible regulations. In the private sector 12 life insurance and 6 general
insurance companies have been registered.
.Life Insurers:
Life Insurance Corporation of India (LIC) Popular Products: Endowment

Assurance (Participating) and Money Back (Participating). More than 80% of
the life insurance business is from these products.
General Insurers:
General Insurance Corporation of India (GIC) Fire and Miscellaneous insurance

businesses are predominant. Motor Vehicle insurance is compulsory.
GIC had four subsidiary companies, namely with effect from Dec'2000, these
subsidiaries have been de-linked from the parent company and made as
independent insurance companies.
The Oriental Insurance Company Limited
The New India Assurance Company Limited,
National Insurance Company Limited
United India Insurance Company Limited
In year 2000-2001 some companies is entered in insurance sector. There

are sixteen company is entered. Ten companies are entered in Life insurance and
other six companies are entered in General Insurance. These companies are...
Life Insurers -:
HDFC Standard Life Insurance Company Ltd.
Max New York Life Insurance Co. Ltd.
ICICI Prudential Life Insurance Company Ltd.
Kotak Mahindra Old Mutual Life Insurance Limited
Birla Sun Life Insurance Company Ltd.
Tata AIG Life Insurance Company Ltd.
SBI Life Insurance Company Limited
ING Vysya Life Insurance Company Private Limited
Bajaj Allianz Life Insurance Company Limited
Metlife India Insurance Company Pvt. Ltd.
General Insurers -:
Royal Sundaram Alliance Insurance Company Limited.
IFFCO Tokio General Insurance Company. Ltd.
TATA AIG General Insurance Company Ltd.
Bajaj Allianz General Insurance Company Limited.
ICICI Lombard General Insurance Company Limited.
Reliance General Insurance Company Limited.
Need For Life Insurance -:

The need for life insurance comes from the need to safeguard our family. If
you care for your familys needs you will definitely consider insurance.
Today insurance has become even more important due to the disintegration
of the prevalent joint family system, a system in which a number of generations coexisted in harmony, a system in which a sense of financial security was always
there as there were more earning members.
Times have changed and the nuclear family has emerged. Apart from other
pitfalls of a nuclear family, a high sense of insecurity is observed in it today besides,
the family has shrunk. Needs are increasing with time and fulfillment of these needs
is a big question mark.
Insurance provides a sense of security to the income earner as also to the
family. Buying insurance frees the individual from unnecessary financial burden that
can otherwise make him spend sleepless nights. The individual has a sense of
consolation that he has something to fall back on.
Why life insurance?

You think twice before taking the plunge into buying insurance. Is buying insurance
a necessity now? Spending an 'extra' amount as premium at regular intervals where
you do not see immediate benefits does not seem a necessity at the moment.
Well you could be wrong. Buying Insurance cannot be compared with any
other form of investment. Insurance gives you a life long benefit and the returns will
definitely come but only when you need it the most i.e. at the right time. Besides
buying insurance early in life is one of the wise decisions you could take. Because
the premium you would be paying would be comparatively lower.
Most important of all it provides you with that unique sense of security that
no other form of investment provides. It gives you a sense of financial support
especially during that time of crisis irrespective of the fluctuations in the stock
market. Insurance provides for your career goals right from your childhood years.
If the earning member of the family is no more your child's educational
needs will not suffer. In fact his higher education too will be provided for. You need
not spend sleepless nights thinking about how to save for your child's marriage. Life
Insurance will take care of that typical once-in-a-life-time spending on marriages.
An accident or a disability may be devastating but an insurance policy can
be of utmost support for the family during such times too. Besides it provides for
additional benefits such as bonuses. You need not worry about your retirement
years. The rising prices, taxes, and your lifestyle will be taken care of easily. And
you can relax and spend your old age in comfort and peace.
When is the right time to buy life insurance?

Buying Life Insurance cannot ever be compared with other investment decisions
since it is very much in contrast with those stock market investments where you
wait for the right time to buy and sell. Neither is this like receiving tips on particular
scrip doing well in the market and holding great future prospects.
This is because the future is always uncertain. Just as buying insurance is a
necessity so also buying insurance early in life is important too. With proper
financial planning one can work out as to how much money an individual is entitled
to after the end of a particular term. A policy that will fulfill your child's future
educational needs would have to be timed appropriately so that he receives the
policy amount at that time when he needs it the most.
By taking a policy early in life you not only benefit in forking out a lower
premium amount but also make a wise decision as far as insuring risks to yourself
and your family is concerned
What is benefited for customer whether to invest in mutual funds or
having insurance policies?
I had also met the customers who are invested in Mutual Funds and also
who are invested in Insurance sector to make the comparison.
The proceeds accruing from Life Insurance policy can be utilized for -:
a.
Final Expenses resulting from death
b.
Guaranteed maintenance of lifestyle
c.
Replacement of income
d.
Mortgage or liquidation payment
e.
Costs of education
f.
Estate and other taxes
g.
Continuity & security of interests
h.
Final expenses resulting from death
After an individual's untimely death, his survivors and heirs are entrusted with the
responsibility of conducting his last rites according to customs and traditions as
propagated by religion. Almost all religious sects follow certain rules that need to
bidden regardless of the social circumstances.
Guaranteed maintenance of lifestyle -:
As long as there is a steady and assured supply of income, an individual's
family and dependants are able to keep a self-professed standard of living. The
family's eating and drinking habits, entertainment and lifestyle expenses are
maintained at a certain level during their earning member's lifespan.
In case of the unexpected death of the earning member, his or her family
will be hard-pressed in trying to arrange for funds that would assist them in
maintaining the standard of living that they've grown accustomed to. After all, no
one really likes to make sacrifices, despite their miniscule fiscal value.
Costs of Education -:
Most families start planning for their child's future education costs as soon
as he clears his kindergarten papers. After all, every parent wants his or her child to
grow and become a professionally qualified engineer or physician or likewise. And

this is a fairly mean task since year after year since capitation fees charged by even
run-of-the-mill colleges come up to lakes of rupees.
In case either of the child's guardians or parents happens to expire before
the end of his education, there are chances that he will not be able to complete his
education. Nothing aids an individual in his life as much as what he or she knows. In
any case, every parent wants to plan for his children's future and security.
And to achieve success in this plan, it is vital that the guardian or parents uses
insurance as a tool to plan for his children's future, regardless of his or her
presence. In case of the demise of a parent, the proceeds from his or her insurance
can be channeled into their dependant children's education fund.
Estate and other Taxes -:
Normally after a family member's death, his family or dependants are
usually flooded with notices from creditors or taxation officers. At a time like this
when the family is struggling to recover from such a severe shock, it might seem
inhuman for them to be subjected to such humiliation.
However in today's materialistic world, chivalry is no longer in demand. In
case of an emergency, women and children rarely come first but
Creditors always do. Not only is it prudent for any individual to clear his debts prior
to his demise but it would also spare his or her family the shame of having to clear
debts that they did not incur, at least directly.
Since no one knows when his or her time may come, there is always a
chance that the dependants will have to pay the existing dues regardless of their
economic status. Thanks to insurance, all existing debts and taxes can be cleared
from the proceeds in no time at all. And the dependent family will be spared from
the ignominy of having to pay what they did not owe, in the first place
Continuity & Security of Interests -:
At times after an individual's death, his family might have to sacrifice their
interests in business or investments to arrange for their expenses and maintain a
decent standard of living. In extreme cases, the dependent spouse might also have
to suffer and sacrifice everything the family owns in a desperate bid to maintain the
family name and crest above everything else.
After all, India is still a country where honor is regarded higher than life
itself. Surely, making prudent investments in insurance from time to time can aid in
averting such a disgraceful situation for any self-respecting individual's family. Only
then will the family be able to maintain its standard of living prior to the demise of
the head of the family.
Obviously, the proceeds from insurance will help secure the family's status
and position in society as well as maintain their socio-economic level in life. Thus
insurance serves the perfect hedging tool for securing the interests of the family
and maintaining the continuity of their interests.
COMPANY PROFILE
BIRLA SUN LIFE = ADITYA BIRLA GROUP (INDIA) + SUN LIFE FINANCIALS
(CANADA)
INTRODUCTION OF ADITYA BIRLA GROUPThe Aditya Birla Group is Indias first truly multinational corporation, Global in
vision, rooted in values, the group is driven by performance ethic pegged on value
creation for its multiple stakeholders. A US$ 24 billion conglomerate, with a market
capitalization of US$ 24 billion and in the league of Fortune 500, it is anchored by an
extraordinary belonging to over 25 different nationalities. Over 50 percent of its
revenues flow from its operations across the world.
The Aditya Birla group is US$ 30 billion conglomerate which gets 60% of its
revenues from outside India. The group is a major player in all the industry sectors it
operates in. The Aditya Birla Group has been adjudged the best employer in India
and among the top 20 in Asia by the Hewitt-Economic Times and Wall Street Journal
Study 2007. The origins of the group lie in the conglomerate once held by one of
India's foremost industrialists Mr. Ghanshyam Das Birla.
The Groups products and services offer distinctive solutions worldwide .Its 85 stateof-the-art manufacturing units and sect oral services span 20 countries India,
Thailand, Laos, Indonesia, Philippines, Egypt, Canada, Australia, China, USA, UK,
Germany, Hungary, brajil, Italy, France, Luxembourg, Switzerland, Malaysia and
Korea.
The group has been adjudged the best employer in India and among the top 20
in Asia by the Hewitt-Economic Times and Wall street journal Study 2007.
In India the group holds a frontrunner position as

Indias leading copper producer
A premier branded garments player
The second largest player in viscose filament yarm.
The second largest player in the chlor alkali sector.
Among the top five mobile technology players
A leading player in Life insurance and asset management.
Sun life financial
Sun Life Financial is a leading international financial services organization providing
a diverse range of protection and wealth accumulation products and services to
individuals and corporate customers. Chartered in 1865, Sun Life Financial and its
partners today have operations in key markets worldwide, including Canada, the
United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan,
Indonesia, India, China and Bermuda. As of March 31, 2007, the Sun Life Financial
group of companies had total assets under management of CDN$446 billion
BIRLA SUN LIFE PROMOTED COMPANIES
1. BIRLA SUN LIFE ASSET MANGEMENT COMPANY LTD
A collaboration of the US $ 8.3 Billion Aditya Birla group and the CDN $ 400 billion
Sun life financial of Canada brings together global and Indian expertise to the area
of financial services.
Birla Sun Life Asset Management Company Ltd., the investment managers of
Birla Mutual fund, is a joint venture between the Aditya Birla Group and the Sun Life
Financial Services Inc. of India. The joint venture brings together the Aditya Birla
Groups experience in the Indian market and Sun Lifes global experience.
Since its inception in 1994, Birla Mutual fund has emerged as one of Indias Leading
Mutual Funds managing assets of a large investors base. The fund offers a range of
investment options, which include diversified and sector specific equity schemes,
fund of fund schemes, hybrid and monthly income funds, a wide range of debt and
treasury products and offshore funds.
2. BIRLA SUN LIFE INSURANCE
Birla Sun Life Insurance Co. Ltd. is a joint venture between Aditya Birla Group, an
Indian multinational corporation, and Sun Life Financial Inc, a leading global
insurance company. Birla Sun Life Insurance is distinguished as the first company in
the sector of financial solutions to begin Business Continuity Plan. This insurance
company has pioneered the unique Unit Linked Life Insurance Solutions in India.
Within 4 years of its launch, BSLI became one of the leading players in the industry
of Private Life Insurance Scheme.
Birla Sun Life Insurance believes in passion, integrity, speed, commitment and
seamlessness. The mission of the company is to help people with risk management.
It also helps in managing the financial situation of firms as well as individuals. Here
is given a comprehensive list of policies and products offered by Birla Sun Life
Insurance Co. Ltd.
Birla Sun Life Insurance pioneered the unique Unit Linked Insurance
Solutions in India.
Within 4 years of its launch, BSLI has cemented its position as a leading player in
the private life insurance industry.
There has been focus on Investment Linked Insurance Products to maintain
leadership in product innovation.
Multi distribution Channels- Direct Sales force, Alternative Channels and Group
offering convenient channels of purchase to customers
Web enabled IT system for superior customer services.
First to have issued policies over the internet.
Corporate governance and a high degree of transparency in all business
practices and procedures.
Vision-
To be a world class provider of financial security to individuals and corporate and to

be amongst the top three private sectors life insurance companies in India.
MissionTo be the first preference of our customers by providing innovative, need based life
insurance and retirement solutions to individuals as well as corporate. These
solutions will be made available well trained professionals through a multi channel
distribution network and superior technology.
It will provide constant value addition to customers throughout their relationship
with us, within the regulatory framework.
Values Integrity
Commitment
Passion
Seamlessness
Speed
PRODUCT PROFILE
Individual Life
Protection
Birla Sun Life Term Plan
Premium Back Term Plan
Saving
Birla Sun Life Insurance Gold-Plus
Supreme Life
Dream Plan
Classic Life Premier
Simply Life
Prime Life Premier
Prime Life
Life Companion
Flexi Cash Flow
Flexi Save Plus
Flexi Life Line
Single Premium Bond
Retirement
Flexi Secure Life Retirement Plan II
Children
Children's Dream Plan
Riders
Accidental Death and Dismemberment Rider
Term Rider
Critical Illness Rider
Waiver of Premium
Critical Illness Plus Rider
Critical Illness - Woman Rider
Retirement
Our Retirement Plans allow you to meet your expenses and build a nest
egg, which gives you the freedom to live life to the fullest even after
retirement.
The post retirement years can be the best years of your life. Time to do
things you couldn't have done while you were working. A right financial
planning makes your post retirement years truly golden . Our Sun Life secure
Life II assures you just that.
PRODUCTS
Insurance Plans
Life is unpredictable. But in face of adversity, our responsibilities towards
our parents, children and loved ones need not be compromised. Insurance planning
equips you to smooth out the uncertainties and adversities that life might send your
way, so that the best that life has to offer, secure in the knowledge that your
beloved ones are well provided for.
BSLI offers a complete range of insurance products
1. Protection Plans
2. Savings Plans
3. Child Plans
4. Investment Plans
5. Retirement Plans
6. Group Plans
7. Rural Plans
8. Plans for NRIs
9. Keyman Plans
10. Riders
Protection Plans
Life Guard
bsli offers Lifeguard - a set of pure protection plans. Choose from amongst three
different product structures to insure your life and provide total security to your
family, at a very affordable cost.
Level Term Assurance with return of premium

On death the entire sum assured will be paid.
On maturity, all the premiums paid will be returned.
Level Term Assurance without return of premium
No survival or maturity benefits.
You can also enhance the above two policies by adding Accident & Disability Benefit
Rider and Waiver of Premium Rider (WOP).
Level Term Assurance - Single premium:
No survival or maturity benefits
saving Plans
bsli offers a variety of policies that give you the benefits of protection and the
opportunity to save for important assets or events, like a home, a car or a wedding.
Invest Shield Cash

A regular premium unit-linked insurance plan with an assurance of Capital
Guarantee# with the added advantage of flexible liquidity option. An ideal plan for
long term planning with the benefit of liquidity.
The key features of the plan are:
Flexibility to choose a specific level of protection (Sum Assured), based on a
multiple of the annual premium. You can also choose the term of the plan.
At the end of the term, the higher of the value of units or the guaranteed value* is
paid. On death, Sum Assured along with the higher of value of units or the
guaranteed value is payable.
Facility to make withdrawals from the 6th policy year onwards till the end of the
policy term. Every year withdraw up to 10% of the value of units.
Additional credits payable as a percentage of the initial annual premium are paid
along with the death or maturity benefit.
Additional insurance for 10 years after the maturity, for an amount of 50% of the
Sum Assured.
Flexibility to make additional investment with the help of the top-up facility.
Flexibility to increase / decrease your annual premium amount
Facility of Automatic Premium Payment- With this facility you can take a temporary
break from premium payment.
Total transparency with the premium allocations, and other charges declared
upfront.
The guaranteed value of the unit fund is the value of all invested premiums
(premiums net of all charges) along with the declared bonus interests.
With Automatic Premium Payment facility, you can avail a temporary break from
premium payment for a maximum of 1 year. This facility is available once if the
premium paying term is less than 15 years and twice, if it is 15 years or more.
You can also enhance your policy by adding Accident & Disability Benefit
Rider, Waiver of Premium Rider and Critical Illness Rider.
Invest Shield Life
A regular premium unit-linked insurance plan with an assurance of Capital
Guarantee# An ideal plan for your long-term savings and protection requirement.
The key features of the plan are:
multiple of the annual premium. You can also choose the term of the plan.
At the end of the term, the higher of the value of units or the guaranteed value* is
paid. On death, Sum Assured along with the higher of value of units or the
guaranteed value is payable
Additional insurance for 10 years after the maturity, for an amount of 50% of the
Sum Assured.
Facility of Automatic Premium Payment- With this facility you can take a temporary
break from premium payment.
upfront.
With Automatic Premium Payment facility, you can avail a temporary break from
premium payment for a maximum of 1 year. This facility is available once if the
premium paying term is less than 15 years and twice, if it is 15 years or more.
The capital guarantee is applicable only on the invested premium and the declared
bonus interests.
You can also enhance your policy by adding Accident & Disability Benefit Rider,
Waiver of Premium Rider and Critical Illness Rider.
Invest Shield Gold
A unit-linked insurance plan with an assurance of Capital Guarantee which offers
you the benefit of a limited premium payment term. An ideal plan for protection
with wealth creation that offers the flexibility of a limited premium paying term.
Flexibility to choose a premium payment term of 5, 7 or 10 years for a maturity
term of 10, 15 or 20 years respectively.
multiple of the annual premium.
At the end of the term (maturity), the higher of the value of units or the guaranteed
value* is paid. On death, Sum Assured along with the higher of value of units or the
guaranteed value is payable.
Facility to make withdrawals from the 6th policy year onwards till the end of the
policy term. Every year withdraw up to 10% of the value of units
upfront.
The capital guarantee is applicable only on the invested premium and the declared
bonus interests.
You can also enhance your policy by adding Accident & Disability Benefit Rider and
Critical Illness Rider.
Premier Life
Presenting Premier Life The Preferred plan for the Preferred Customer. The key
features of the plan are:
Limited premium payment option: Choose from among a 3, 5, 7 or 10 year premium
paying term.
Choice of sum assured: Choose a sum assured, which is a minimum multiple of 1
and a maximum multiple of 25 times the annual contribution.
Additional allocation of units on a periodic basis.
Facility to top-up your investment any time you have surplus funds.
Choose from among four funds, based on your investment objective and risk
appetite.
Choice to switch between investments options (4 free switches every policy year).
Flexibility to decrease your sum assured.
Add-on riders to protect you against any eventuality.
Loans against the policy.
You can also enhance your policy by adding Critical Illness Rider, Accident &
Disability Benefit Rider.
Life Time
Presenting Life Time unit linked plans that meets your changing needs over a
lifetime. These solutions have been developed to meet your savings, protection and
investment needs at every stage in life.
Protection
Choose a specified level of protection (available only with Lifetime).
Two levels of Sum Assured to choose from (available only with Lifetime II).
Flexibility to increase or decrease your sum assured.

Add-on riders to protect you against any eventuality.
Savings
Flexibility to increase or decrease your contribution.
Facility of Premium Holiday, wherein the policy continues even if there is a
temporary break in the payment of annual contribution (available only with Life
Time).
Facility of Automatic Cover Continuance, wherein the policy continues even if there
is a temporary break in the payment of annual contribution
Facility to top-up your investment any time you have surplus funds.
Additional allocation of units on a periodic basis.
Loans against the policy.
Investment:
Choose from among four funds, based on your investment objective and risk
appetite.
Choice to switch between investments options (4 free switches every policy year).
You can also enhance your policy by adding Critical Illness Rider, Major Surgical
Assistance Rider, Accident & Disability Benefit Rider, Accident Benefit
Rider (available only with Life Time) and Waiver of Premium Rider
Secure Plus
An insurance plan that gives added protection, savings and multiple options, all in
one!
The flexibility to choose your premium contribution.
The flexibility to choose amongst three levels of cover (in the form of sum assured)
for the same amount of total annual contribution.
The flexibility of shifting between the three levels of cover, as you require.
The flexibility of receiving your maturity proceeds as a lump sum or in equal annual
installments over 3 or 5 years.
You can also enhance your policy by adding Variety of Riders
Cash Plus
An insurance plan that gives you added protection, savings, multiple options, plus
the power of liquidity.
The flexibility to choose your premium contribution.
The flexibility to choose amongst three levels of cover (in the form of sum assured)
for the same amount of total annual contribution.
The flexibility of shifting between the three levels of cover, as you require.
The flexibility of receiving your maturity proceeds as a lump sum or in equal annual
installments over 3 or 5 years.
The flexibility of withdrawing up to 10% of the accumulated value of your policy,
after the first 5 policy years.
You can also enhance your policy by adding Variety of Riders
Save n Protect
An ideal plan for those who want to accumulate funds on a regular basis while
enjoying insurance protection.
Guaranteed Benefits: Guaranteed additions @ 3.5% of the Sum Assured,
compounded annually for the first 4 years of the policy.
Extended Life Cover: An extended cover for 5 years after the maturity of the
policy, for 50% of the sum assured, at no extra cost.
Maturity Benefit: At the end of the term, the policyholder receives the full sum
assured, the guaranteed additions and the vested bonuses.
Death Benefit: The beneficiary receives the sum assured, the guaranteed
additions and the vested bonuses incase the life assured were to meet with an
unfortunate event. In case the life assured is aged 7 years or less, the basic
premium paid will be returned.
You can also enhance your policy by adding Critical Illness Rider, Major Surgical
Assistance Rider, Accident & Disability Benefit Rider, Waiver of Premium Rider
(WOP)
Child Plan
As a responsible parent, you will always strive to ensure a hassle-free, successful
life for your child. However, life is full of Uncertainties and even the best-laid plans
can go wrong. Heres how you can give your child a 100% safe and assured
tomorrow, whatever the uncertainties. Smart Kid is especially designed to provide
flexibility and safeguard your childs future education and lifestyle, taking all
possibilities into account. Choose from amongst a basket of 4 plans:
Smart Kid regular premium

Smart Kid unit-linked regular premium
Smart Kid unit-linked regular premium II
Smart Kid unit-linked single premium II
All these plans offer you:

Financial Benefits: Regular payments at critical stages in your childs life, like
Board examinations, Graduation and Post-graduation.
Total peace of mind, even if you are not around
Sum Assured is paid immediately: Ensures that your loved ones stay financially
secure, even in your absence.
All future premiums are waived: Ensuring that your family is not financially
burdened in your absence.
Policy benefits continue: The educational benefits of the policy continue,
ensuring that your child can realize his or her dreams without any hassles.
Development Allowance: Smart Kid guarantees regular income to secure your
childs educational career and also ensures his or her all-round development, for a
nominal additional amount. The Income Benefit Rider takes care of this through an
annual payment of 10% of the sum assured, to your child, till the maturity of the
policy, in the unfortunate event of the death of the parent.
All SmartKid plans can be enhanced with the Accident & Disability Benefit
Rider andIncome Benefit Rider. You can also an Accident Benefit Rider to a Smart
Kid Regular Premium policy, and a Waiver of Premium Rider (WOP) to Smart Kid
unit-linked regular premium policy.
INVESTMENT PLANS
Life Link II is a unique plan that combines the security of a life insurance policy with
the opportunity of enjoying high returns on your investments, without the market
risks compromising on the protection of your family.
Death Benefit: The Sum Assured under the product has 2 options, either 500% of
the initial premium or 105% of the initial premium. In the event of an unfortunate
death, the beneficiary will receive higher of the value of units or the initial death
benefit, less any withdrawals.
Withdrawal Benefit: One can make partial withdrawals from the accumulated
value of the policy after completion of one policy year.
Flexibility: Choose from four fund options, based on your investment objective and
risk appetite. If at a later stage your financial priorities change, you can switch
between the various fund options, absolutely free, 4 times a year.
RETIREMENT PLANS
Life Expectancy has been rising rapidly and today you can expect to live
longer than your earlier generations. For you, this increase will mean a longer
retirement life, stretching into a couple of decades. BSLI Retirement Solutions that
combine the best of insurance and investment. These solutions are developed to
ensure your peace of mind for the years to come.
Why plan for retirement?
How much should I set aside for retirement?
The impact of inflation on your retirement savings
Why plan early?
About Annuities
Why plan for retirement?
For too many people, the joy of retirement after years of hard work is
eclipsed by the financial uncertainties that it brings. Despite all the planning and
saving, you can never sure whether your money will last a lifetime. Retirement
planning offers a way to ensure a more enjoyable, stress free tomorrow. A prudent
plan will ensure that increasing life expectancy, higher inflation and increasing taxes
do not eat away into your hard earned savings.
How much must I set aside for retirement?
To ensure a comfortable retired life, you would be wise to invest money into
additional avenues like pension plans. How much you need to invest can be
answered by answering some questions such as:
How long do you have to save that amount before retirement?
Where can you invest your retirement money?
How much risk are you willing to take on your investments?
Group Solutions
In an era of competitive parity, the only asset that makes a decisive difference
between corporate success and failure is the quality of human capital. Employee
benefits have proven to be an excellent tool to optimize the retention of talent and
improve an organizations bottom-line. The quality of an organizations employee
benefits establishes and maintains a company's image as a caring employer.
Optimum care of employees is a long-term investment that results in a sustained

competitive advantage for an organization in the times to come.
BSLI Group Solutions Advantage:
An integrated basket of employee benefits solutions that offer incomparable flexible
benefits.
Sound investment management that focuses on safety, stability and profitability of
the portfolio.
Personalized financial planning for your employee that takes care of his/her
changing financial needs at every stage of life.
Quality service initiatives and transparency across all operations, promising
superlative operational efficiency.
Group Term Assurance : Helps provide affordable cover to members of a group.
Group Gratuity Plan : Helps employers fund their statutory gratuity obligation in a
flexible and hassle-free manner.
Group Superannuation Plan : A flexible scheme (defined benefit and defined
contribution) to provide a retirement kitty for each member of the group.
Group Term Assurance:
BSLI 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, and can be extended to all employees between the ages of 18 and 65 years.
The benefit under the policy is paid on the event of the members death to the
beneficiary nominated by the member. It is a one-year renewable policy where one
master policy covers all proposed employees comprising the group, with a minimum
group size of 25 persons. New members can join the group and outgoing members
can leave the group at any point during the policy term.
Highlights include:
Greater convenience for the employees with relaxed underwriting and medical
requirements.
"Free Cover Limits" with simplified underwriting depending upon the number of
employees in the group and the level of cover chosen.
Guaranteed benefit: On death during the term of the contract (while in service),
the sum assured will be paid to the beneficiary of the employee.
Choice of additional coverage in form an Accident and Disability Benefit Rider and
Critical Illness Cover
Premium is viewed as a business expense in the year of payment.

Group Gratuity Plan:
BSLI group gratuity plan helps employers fund their gratuity obligation in a
scientific manner. Employers can avail of the tax benefits as applicable to approved
gratuity funds. The plan can also be customized to structure schemes that can
provide benefits beyond the statutory obligations.
Highlights include:
Wider choice of investments with Market Linked Plans - to meet the diverse
financial goals. We offer 4 investment options (short-term debt, debt and balanced
and capital guarantee plan) where investments will be made in accordance with the
fund objectives.
Transparency through Daily disclosure of Unit Value and regular disclosure of the
portfolio of each of the investment option
Flexibility through switching and contribution redirection option to enable
reshuffling of portfolio
Bundled Life Cover greater values to the employee by packaging life insurance
cover with the gratuity, with minimal amount of underwriting.
Actuarial services to provide a scientific estimation of the gratuity liability.
Low explicit charge structure with the conditions for exit specified upfront.
Enhanced service levels through faster claim settlement, easier access to
information and regular statements.
Complete end to end solutions in the legal and regulatory approval
process for scheme set up or transfer
Employee Benefits:
The contribution made by the employer is not included in the value of taxable
perquisites in the hands of the employee.
Gratuity received up to Rs 350000 is exempt from Income tax under Sec 10(10)
Employer Benefits:
Annual contribution up to 8.33% of salary bill in a financial year is allowed a
deduction for the purpose of computation of profits and gains of business.
Contribution towards past service liability is allowed as deduction as per the Income
Tax rules.
Group Superannuation Plan:

BSLI Superannuation Scheme (for both Defined Benefit and Defined Contribution
funds) offers substantial benefits to both employers and employees. The employer
and employee can avail of tax benefits applicable to an approved superannuation
trust. The scheme will provide for a retirement fund for each participating
employee. An employee would be able to choose from various annuity options or
opt for partial commutation of corpus at retirement.
Highlights include:
Wider choice of investments with Market Linked Plans - to meet the diverse
financial goals. We offer 5 investment options (short-term debt, debt, balanced,
growth and capital guarantee plan) where investments will be made
in accordance with the fund objectives.
Control - Each member/employer can exercise greater control over investments by
choosing one or more of the investment options.
Multiple Annuity Options - 5 annuity options and open market option
Transparency - Transparency through Daily disclosure of Unit Value and regular
disclosure of the portfolio of each of the investment option
Flexibility - Flexibility through switching and contribution redirection option to
enable reshuffling of portfolio
Low explicit charge structure with conditions for exit specified upfront.
Enhanced service levels through faster claim settlement, easier access to
information and regular statements.
Complete end to end solution in the legal and regulatory approval process for
scheme set up or transfer
Rural Plans
BSLI Rural Products are designed to meet the needs of the rural consumers. These
products offer the following features:
1. Low and Affordable Premiums
2. Life Cover
3. Savings Option
4. Hassle free procedure
BSLI offers 2 specially designed rural plans.
BSLI Endowment Plan

BSLI - Regular Premium
BSLI Endowment Plan:
BSLI offers the following features:
Life Cover and Savings
Regular Premiums
Age at entry
Premium Mode
18 - 45 Yrs
Half Yearly / Yearly
Term
5,10,15 Yrs
Sum Assured
Rs.5,000 -20,000
Premium / Year
Rs. 507 - 553 ( SA: Rs.10,000)
Maturity/Death benefit
Sum Assured
BSLI - Regular Premium:

BSLI is a regular premium policy with the following features:
Individual policy
Only Life cover
Term - 3 & 5 Yrs
Age independent premium
Age at entry
18 - 45 Yrs
Sum Assured
Single
Premium / Year
Rs 50 200
Maturity/Death benefit
Rs.5,000 - 20,000
Death Benefit
Sum Assured
Plans For NRIs
NRI Plans:
Being away from India doesn't mean you have to compromise the safety and
security of your loved ones. In fact, your savings from your time overseas can be
easily canalized to meet your family's needs - now and in the future. So, whether its
your dream to retire in your hometown; to secure funds for your children's
education; or to build assets, BSLI has a range of solutions that can be customized
to meet your needs.
BIRLA SUN LIFE INSURANCE GOLD PLUS

Don't we always wish for that something more? A bigger house, a plush set of
wheels, holidays in exotic lands. Here's something that makes sure you get all that
and much more. Presenting the Birla Sun Life Insurance Gold-Plus Plan - a plan
unlike any other. It covers your life while giving you an opportunity to grow your
investments for the medium term.
DETAILS
An opportunity to grow your investments for medium term.
Policy terms 8 years.
Paying period 3 years
The policyholder has an option to reduce the annualized policy premium in the 2nd
and 3rd year subject to a minimum annualized premium of Rs.10,000 per year.
Top Up premium Minimum Rs. 5000
Liquidity through withdrawals and surrender
Withdrawals after 3 policy years, Min Rs. 5000,two partial withdrawals are free in a
year.
Surrender can be surrendered anytime during the policy term but will be paid after
three policy years (if surrendered in first 3 policy yrs). Surrender charge is zero
after 3rd yr.
Entry age 18 to 70 yrs
Minimum Premium: Rs10, 000
Minimum sum assured: 5 x Annual premium.
Maximum sum assured (multiple of annual premium)
Age
Gold
plus
multipl
e
18-29
30-34
35-39
40-44
45-49
50-54
55-59
60-70
44
38
30
21
14
10
NAME OF THE PLAYER MARKET SHARE (%)
LIC
82.3
ICICI PRUDENTIAL
5.63
BIRLA SUN LIFE
2.56
BAJA ALLIANZ
2.03
SBI LIFE
1.80
HDFC STANDARD
1.36
TATA AIG
1.29
MAX NEW YORK
0.90
AVIVA
0.79
OM KOTAK MAHINDRA
0.51
ING VYASA
.37
AMP SANMAR
0.26
METLIFE
0.21
Unit Link Bonds

A unit linked bond is a lump sum investment plan that gives you access to various
investment markets throughout the world, via a wide range of professionally
managed funds. These funds have varying objectives and levels of risk.
The underlying make up of the unit linked bond depends on its investment
objectives. This determines the type of stocks and shares in which it invests. Each
Investment Linked Bond offers the option to invest for growth, income or both, you
can select the option which best matches your own needs.
5 STEPS TO SELECTING THE RIGHT ULIP

Unit Linked Insurance Plans (ULIPs) were always seen as a 'wonder product' that
simultaneously fulfilled an individual's needs for investment and insurance.
However, the recent downswings in the markets have forced investors to do a
rethink. Very often it was poor selection that was responsible for the investors'
woes. Here is a 5-step strategy for investing in ULIPs.
1.
Understand the concept of ULIPs
Try to do as much homework as possible before investing in an ULIP. This way you
will know what you are getting into and won't be faced with unpleasant surprises at
a later stage.
Experience suggests that many a time people do not realize what they are getting
into (in fact we have been approached by several people who wanted to cancel the
ULIPs they had been coerced into taking by unscrupulous agents). Gather
information on ULIPs, the various options available and understand their working.
Read the literature available on ULIPs on the Web sites and brochures circulated by
insurance companies.
2.
Focus on your requirement and risk profile
Identify a plan that is best suited for you (in terms of allocation of money between
equity and debt instruments). Your risk appetite should play an
important role in
the plan you choose.
So if you have a high-risk appetite, go in for a more aggressive investment option

and vice-a-versa. Opting for a plan that is lop-sided in favors of equities when you
are a risk-averse individual might spell disaster for you (this is true in most cases
currently).
3.
Compare ULIPs of different insurance companies
Compare products of the leading insurance companies. Enquire about the

premium payments as ULIPs work on minimum premium basis as opposed to sum
assured in the case of conventional insurance policies.
Check the fund's performance over the past six months. Find out how the debt and
equity schemes are Performing and how steady the performance has been. Enquire
about the charges you will have to pay. In ULIPs the costs involved are a big
deciding factor.
Ask about the top-up facility offered by ULIPs i.e. additional lump sum investments
you can make to increase the savings portion of your policy.
The companies give you the option to increase the premium amounts, thereby
providing you with the opportunity to gainfully utilize surplus funds at your disposal.
Enquire about the number of times you can make free switches (i.e. change the
asset allocation of the money in your ULIP account) from one investment plan to
another.
Some insurance companies offer you free switch for a 2-year period while others do
so only for 1 year.
4.Go for an experienced insurance advisor
Select an advisor who is not only professional and informed, but also independent
and unbiased. Also enquire whether he has serviced clients like you.
When your agent recommends a ULIP of X company ask him a few product-related
questions to test him and also ask him why the other products should not be
considered.
Insurance advice at all times must be unbiased and independent and your agent
must be willing to inform you about the pros and cons of buying a particular plan.
His job should not just begin by filling the form and end after he deposits the
cheque and gives you the receipt. He should keep a track of your plan and inform
you on a regular basis. The key is to go for an advisor who will offer you valueadded products.
5. Does your ULIP offer a minimum guarantee?
In market linked product if your investment's downside can be protected, it would

be a huge advantage. Find out if the ULIP you are considering offers a minimum
guarantee and what costs have to be borne for the same. This will enable you to
make an informed choice.
Will unit linked risk products continue to rule?
Unit linked risk plans are doing roaring business agreed but if the recent reports are
any indication a shake up is on the cards. The mutual fund industry is all set to get
aggressive to counter competition from the insurance industrys unit linked risk
products. For mutual funds the unit linked insurance products launched by life
insurance companies are an encroachment on their territory. Consider this: Around
80 per cent of the premium income of life insurers has come in through unit-linked
plans in 2004 thanks to the boom in the equity markets.
Which means mutual fund companies are losing out on a huge market that would
have otherwise been theirs? To put an end to such a situation they are toying with
the idea of aggressively publicizing its products through celebrity endorsements
which mutual funds feel will give a never-before fillip to its unit linked schemes.
Unit linked insurance products launched have been doing brisk business and
insurers have been coming out with several such products with slight variations to
suit the changing needs of the customers. These products are investment avenues
that provide market related returns to the investor with an element of insurance
thrown in. For the customer the attraction of market related returns with insurance
is an attractive option. On the contrary though mutual fund companies also have
unit-linked products what is absent is the insurance cover.
But the grouse of mutual funds is that they have to adhere to stringent regulations
that are absent for insurance companies when the products are almost similar.
While for insurance companies it is not mandatory to disclose the various expenses
related to unit linked risk products such as expense ratio and brokerages among
others, for mutual fund companies it is mandatory.
At a glance the pros and cons:
Pros
Cons
The value of the bond can go

down as well as up
You can invest in a number of

different funds within the bond
They are run by expert fund

managers
You'll usually have to invest a

minimum amount of premium
p.a. that varies from company
to company e.g. HDFC- Std life
has a min. premium of
Rs.10,000.p.a.
You'll usually have to invest for
They are free from personal

capital gains tax.
at least 5 years.
Unit Link Investment Plans of HDFC- Standard Life Insurance Company Ltd.
Before we discuss the plans in detail lets be accustomed to certain common terms
like:
SA- Sum Assured
It is the amount for which a person is insured, so it becomes the minimum amount,
which has to be returned to the insured as per the terms of the policy.
LA - Life AssuredHe/she is the person who has taken the insurance cover.
Premium
These are the installments payable by the LA as against the SA. He can either make
monthly, half-yearly & yearly or even one time payment is allowed.
HDFC Standard Life has 3 Unit Link Investment Plans

UNIT LINKED YOUNG STAR PLAN
UNIT LINKED ENDOWMENT PLAN
UNIT LINKED PENSION PLAN
UNIT LINKED YOUNG STAR PLAN
The plan is affordable, customised to your needs and above all, enables you to
realise your dreams for your child. This plan is well suited for the value-conscious
customer, and above all, for every loving parent. The plan can also be chosen by
grandparents, other relatives or any adult for the benefit of a child
What is the Unit Linked Young Star Plan?
HDFC Unit Linked Young Star Plan is designed to provide a lump sum to the child at
maturity. It also provides financial security to the child in the future, even in case of
the insured parent's unfortunate death during the policy term. The Unit Linked
Young Star Plan also gives the option of additional protection against the six
common critical illnesses.
Your premiums are invested in units of the investment funds of your choice, based
on the prevailing unit prices. On maturity the value of the units will be paid. On
death (or critical illness, if chosen) the selected basic sum assured is paid, and the
policy continues until maturity. Following a valid death or critical illness claim, we
will pay the future premiums (at the level originally chosen at inception) into your
policy, as and when they would have fallen due.
Premiums
You agree to pay a level premium regularly, either quarterly, half-yearly or annually,
throughout the term of the policy. The minimum premium amount is Rs. 10,000
each year.
To facilitate increased investment, we allow additional single premium top-ups at
any time. The minimum single premium top-up is Rs. 5,000
Premiums can be paid by cash, cheque or demand draft.
Choose your Investment Funds
The policy is fully unitised with a range of funds to match your needs and approach
to risk. (By risk we mean the likely volatility in the value of units in the fund.) Each
investment fund is composed of units. All the units in a fund are identical. You can
choose from the following funds:
Liquid fund
The Liquid fund invests 100% in bank deposits and high quality short-term money
market instruments. The fund is designed to be cash secure and has a very low
level of risk; however unit prices may occasionally go down due to the use of shortterm money market instruments. At inception, investments up to 20% can be
allocated to this fund.
Secure Managed fund
The Secure Managed fund invests 100% in Government Securities and Bonds issued
by companies or other bodies with a high credit standing, however a small amount
of working capital may be invested in cash to facilitate the day-to-day running of
the fund. This fund has a low level of risk but unit prices may still go up or down.
Defensive Managed
15% to 30% of the Defensive Managed fund will be invested in high quality Indian
equities. The remainder will be invested in Government Securities and Bonds issued
by companies or other bodies with a high credit standing. In addition, a small
amount of working capital may be invested in cash to facilitate the day-to-day

running of the fund. The fund has a moderate level of risk with the opportunity to
earn higher returns in the long term from some equity investment. Unit prices may
go up or down.
Balanced Managed
30% to 60% of the Balanced Managed fund will be invested in high quality Indian
equities. The remainder will be invested in Government Securities and Bonds issued
by companies or other bodies with a high credit standing. In addition a small
running of the fund. The fund has a higher level of risk with the opportunity to earn
higher returns in the long term from the higher proportion it invests in equities. Unit
prices may go up or down.
Growth fund
The Growth fund invests 100% in high quality Indian equities. In addition a small
running of the fund. The fund has a higher level of risk with the opportunity to earn
higher returns in the long term from the investment in equities. Unit prices may go
up or down.
The past performance of any of the funds is not necessarily an indication of future
performance.
There are no investment guarantees on the returns of unit linked funds.
None of the funds participate in the profits of HDFC Standard Life Insurance
Company Limited or any of its policyholder funds.
Switching of funds.
You can switch your existing investments from your any of your unit linked funds, to
any other available unit linked fund. You can also give us a premium redirection
instruction to redirect future premiums to different unit linked funds.
What are the Benefits?
There are 2 different options available
1.
Life Option
This option consists of a Maturity Benefit and a Death Benefit.
The Maturity Benefit will pay the value of the unit-linked fund at the end of
the policy term.
The Death Benefit will pay the basic Sum Assured on death of the life assured
during the policy term. Following payment of this benefit, no further
premiums are due from the policyholder.
Following a valid death claim, we will pay future premiums on your behalf, as
and when they become due. The level of premium will be that chosen by you
at inception of the policy.
2.
Life and Health Option
This option consists of a Maturity Benefit, a Death Benefit and an Extra Health
Benefit.
The Maturity Benefit will pay the value of the unit-linked fund at the end of
the policy term.
The Death Benefit will pay the basic Sum Assured on death of the life assured
during the policy term. Following payment of this benefit, no further
premiums are due from the policyholder and the Extra Health Benefit will
lapse without value.
The Extra Health Benefit will pay the basic sum assured on diagnosis of any
one of six critical illnesses during the policy term. Following payment of this
benefit, no further premiums are due from the policyholder and the Death
Benefit will lapse without value. The illnesses covered under this benefit
are cancer, coronary artery by pass graft surgery, heart attack,
kidney failure, major organ transplant (as recipient) and stroke.
Following a valid death or critical illness claim, we will pay future premiums
on your behalf, as and when they become due. The level of premium will be
that chosen by you at inception of the policy.
UNIT LINKED ENDOWMENT PLAN

What is the Unit Linked Endowment Assurance?
The unit linked endowment plan is an insurance policy that is designed to pay a
lump sum on maturity or on earlier death. The Unit Linked Endowment Plan also
gives the option of additional protection against the six common critical illnesses, as
well as additional protection if death is as the result of an accident.
Your premiums are invested in units of the investment fund of your choice, based on
the prevailing unit price. On maturity you receive the value of your units. On death
(or critical illness, if chosen) you receive the greater of the value of your units and
your selected basic sum assured.
Premiums
You agree to pay a level premium regularly, either quarterly, half-yearly or annually,
throughout the term of the policy. The minimum premium amount is Rs. 10,000
each year.
any time. The minimum single premium top-up is Rs. 5,000
CHOOSE YOUR INVESTMENT FUND

to risk. (By risk we mean the likely volatility in the value of units in the fund.)
Each investment fund is composed of units. All the units in a fund are identical. You
can choose from the following funds:
Liquid fund
Secure Managed fund
Defensive Managed
Balanced Managed
Growth fund
3.
Extra Life Option
This option pays the same benefits as the Life Option but, should death occur within
the policy term as the result of an accident, an extra benefit equal to the Sum
Assured will be paid.
4.
Extra Life and Health Option
This option pays the same benefits as the Life and Health Option but, should death
occur within the policy term as the result of an accident, an extra benefit equal to
the Sum Assured will be paid.
SURRENDERING THE POLICY

The policyholder can surrender the policy at any point of time during the contract
term. The amount payable will be the unitised fund value after applying additional
surrender charges mentioned below.
Accessing the money
You can make lump sum withdrawals from you funds provided the fund balance
after withdrawal and charges does not fall below the Sum Assured. The minimum
withdrawal amount is Rs. 10,000.
Discontinuity of Premiums
This product has a grace period of 15 days for the payment of each premium after
the initial premium.
If you stop paying premiums, before you have paid 3 years of annual premiums, we
will cancel you policy and return to you the value of your unitised fund, less
cancellation charges.
If, after three years, you are unable to pay the premiums, you have the option to
make the policy paid-up, provided the policy has accumulated sufficient policy
value. Currently, this amount will be Rs. 15,000.
If you make your policy paid up you will continue to be protected according to the
benefits you selected. To provide this cover, we will continue to collect our usual
charges on each monthly charge date. It is important to note that if no further
premiums are paid, this may reduce the value of your fund over time, or even
exhaust it completely.
A paid-up policy can be reinstated to premium paying status at any point of time in
the future.
If the fund value of a paid-up policy falls below Rs. 15,000 we will cancel the policy
and return to you the fund value, less cancellation charges.
Tax Benefits
Premiums paid under this plan are eligible for tax benefits under Section 88 of the
Income Tax Act, 1961.
Charges
Company deduct charges from the policy to cover their costs.
A percentage of each premium is invested to buy units, this percentage is called the
Investment Content Rate.
THE RATES ARE AS FOLLOWS:

Premium paid
Investment Content Rate (ICR)
Regular - Year 1
73%
Regular - Year 2
73%
Regular - Year 3+
99%
Regular Premium Increases
99%
Single Premium Top-Up
99%
The unit price each day will include a fund management charge. This charge is
0.80% of the fund value per annum taken on a daily basis.
A flat fee of Rs 15 per month will be deducted by cancellation of units on each
monthly charge date. This will be proportioned across funds according to the fund
holdings at the time of cancellation of units.
Risk benefits (for death sum assured, critical illness, and accidental death) will be
charged for by cancelling units on each monthly charge date, based on the persons
age at that time.
We charge neither for premium redirections nor for switches but we may do so in
the future.
We do not charge for altering the regular premium amount (including making a
policy paid-up and reinstating a paid-up policy), but we may do so in the future.
On cancellation of the policy before 3 years of regular premiums have been paid, we
will charge 25% of the outstanding premiums due during this 3-year period.
Alteration to Charges
No changes can be made to our current charges without prior approval from the
Insurance Regulatory and Development Authority.
In any case, the fund management charge will not exceed 2% per annum.
EXCLUSIONS
No benefit will be paid if the death has occurred directly or indirectly as a result of
suicide within one year from the date of first being covered under the policy.
Company does not pay health benefits if the critical illness has occurred within 6
months of the start of the contract.
Company may not pay health benefits if we do not receive a duly completed claim
form within 26 weeks of the illness, disability, operation or other circumstances
giving rise to the claim.
Company will not pay health benefits if the critical illness is caused directly or
indirectly by any of the following:
Intentionally self-inflicted injury or attempted suicide, irrespective of mental

condition.
Alcohol or solvent abuse, or the taking of drugs except under the direction of
a registered medical practitioner.
War, invasion, hostilities (whether war is declared or not), civil war, rebellion,
revolution or taking part in a riot or civil commotion.
Taking part in any flying activity, other than as a passenger in a commercially

licensed aircraft.
Taking part in any act of a criminal nature.
Pregnancy or childbirth or complications arising there from.
Company will not pay accidental death benefit if death occurs after 90 days from
the date of the accident.
Company will not pay accidental death benefit if death is caused directly or
indirectly from any of the following:
Suicide within one year of the Date of Commencement or the date of issue of
the Policy, if later
Alcohol or solvent abuse, or the taking of drugs except under the direction of
a registered medical practitioner.
Taking part or practicing for any hazardous hobby, pursuit or race unless
previously agreed to by us in writing
War, invasion, hostilities (whether war is declared or not), civil war, rebellion,
revolution or taking part in a riot or civil commotion.
GENERAL INFORMATION
Unit Prices
The Co. set unit price of a fund by dividing the value of the assets in the fund at the
valuation time by the number of units in existence for the fund. The resulting price
will be rounded to the nearest Rs. 0.0001. The value of the assets will be calculated
as the Market or Fair Value of the funds Investments plus Current Assets (including
accrued income) less Current Liabilities and Provisions (including accrued
expenses). This price will be published on our companys website.
Prohibition of rebates
Section 41 of the Insurance Act, 1938 states:
1. No person shall allow or offer to allow, either directly or indirectly, as an
inducement to any person to take out or renew or continue an insurance in
respect of any kind of risk relating to lives or property in India, any rebate of
the whole or part of the commission payable or any rebate of the premium
shown on the policy, nor shall any person taking out or renewing or
continuing a policy accept any rebate, except such rebate as may be allowed
in accordance with the published prospectuses or tables of the insurer.
2. Any person making default in complying with the provisions of this section
shall be punishable with fine which may extend to five hundred rupees.
UNIT LINKED PENSION PLAN

What is the Unit Linked Pension Plan?
The unit linked pension plan is basically an insurance contract, which is designed to
provide a retirement income for life.
Your premiums are invested in units of the investment fund of your choice, based on
the prevailing unit price. On vesting the value of your units will be used to buy your
retirement benefits.
On earlier death, the beneficiary receives the value of your units plus a cash lump
sum of Rs. 1,000.
Premiums
You agree to pay level premiums regularly, either quarterly, half-yearly or annually,
throughout the term of the policy or a single premium at the start of the policy. The
minimum premium amount for regular premium mode is Rs. 10,000 each year and
for single premium, it is Rs. 25,000.
any time. The minimum single premium top-up is Rs. 5,000.
Choose your investment funds
to risk. (By risk we mean the likely volatility in the value of units in the fund.) Each
investment fund is composed of units. All the units in a fund are identical. You can
choose from the following funds:
Liquid fund
Secure Managed fund
Defensive Managed
Balanced Managed
Growth fund
Switching of funds.
You can switch your existing investments from your any of your unit linked funds, to
any other available unit linked fund. You can also give us a premium redirection
instruction to redirect future premiums to different unit linked funds.
Benefits
At the chosen vesting date, the unitised fund value will be available to secure
pension benefits. Subject to the prevailing regulations, part of this value can be
taken in the form of a cash lump sum 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 proceeds net of any cash lump sum can be used to buy
an annuity with any other insurance company who will accept such business. The
current maximum limit for any cash lump sum is one-third of the unitised fund value
on vesting.
On death the unitised fund value will be paid along with a cash lump sum of Rs.
1,000. The beneficiary may use the proceeds to purchase pension benefits for the
surviving spouse.
How are benefits paid?
Your basic benefits will be paid by cheque.
PROHIBITION OF REBATES
Section 41 of the Insurance Act, 1938 states:

1.
No person shall allow or offer to allow, either directly or indirectly, as an
inducement to any person to take out or renew or continue an insurance in respect
of any kind of risk relating to lives or property in India, any rebate of the whole or
part of the commission payable or any rebate of the premium shown on the policy,
nor shall any person taking out or renewing or continuing a policy accept any
rebate, except such rebate as may be allowed in accordance with the published
prospectuses or tables of the insurer.
2.
Any person making default in complying with the provisions of this section
shall be punishable with fine which may extend to five hundred rupees.
OTHER COMPANY PROFILE

Major insurance company share in market
LIC
82.3
ICICI PRUDENTIAL
5.63
BIRLA SUN LIFE
2.56
BAJA ALLIANZ
2.03
SBI LIFE
1.80
HDFC STANDARD
1.36
TATA AIG
1.29
MAX NEW YORK
0.90
AVIVA
0.79
OM KOTAK MAHINDRA
0.51
ING VYASA
.37
AMP SANMAR
0.26
METLIFE
0.21
AVIVA LIFE INSURANCE

Kal Par Control
Lifesaver
Life Saver is designed to meet your specific long-term saving needs such as
education and wedding costs for your children, with the added reassurance of life
cover to meet those costs in the unfortunate event of your death before the policy
matures. lifesaver ensures availability of a lump sum fund to you on
your
survival at the end of the policy term.
What is life Saver?
Life Saver is a unitized fixed term, protection cum savings plan.
Lifesaver provides cover against death as well as accidental death/disability or
critical illness.
Lifesaver can be purchased on any life between 18 to 65 years and for any term
subject to a minimum of 5 years and the age of the insured not exceeding 70 years
at maturity. However, for any rider cover the maximum entry age is 55 years.
The minimum premium is As.3, 500 for yearly, As.2, 000 for half-yearly, As.1, 000
for quarterly and As.350 for monthly frequency of premium payment.
On payment of each premium, units are allocated to the unit account at the
purchase price of the unit at the date of allocation. Policy value is determined by
multiplying the total number of initial and accumulation units held in the unit
account by the selling price of the unit. The units purchased with the first year's
premium are called Initial Units and units purchased with second and subsequent
years' premium and additional single premiums are called Accumulation Units.
INVESTMENT OPTIONS
Lifesaver offers four investment funds:
With Profit funds
Unit Linked Fund

Secure Fund
Growth Fund
Balanced Fund
Progressive
return on your
investment by
investing higher
element in debt
securities, with a
High capital
growth by
investing higher
element of assets
in the equity
Capital growth by
availing
opportunities in
debt and equality
markets and
providing you a
Objective
Provides a
guarantee that
the selling price
of the units will
never fall. The
unit value of this
fund is increased
by credit-ing
bonuses on daily.
Compounding
basis. A final
bonus, if any,
may also be
payable at
maturity, death
or at the time of
surrender .The
fund provides
investment
security to your
capital.
minimum
exposure to
equalities
market.
good balance
between risk and
return.
Composition (Range )
Debt
securities : 70 %
-100 %
Debt
securities : 60 %
-100 %
Debt
securities : 0%
-50%
Debt
securities : 50 %
-90 %
Equities : 0-20
% Money market
and cash : 0-10
%
Equities : 0-20
% Money market
and cash : 0-20
%
Equities : 3085%
Money market
and cash : 0-20
%
Equities : 0-45
% Money market
and cash : 0-10
%
ICICI PRUDENTIAL LIFE INSURANCE
PREMIER LIFE
How does Premier Life work for you
You can choose a specified level of protection according to your need. Parat of the
contribution paid is adjusted towards mortality and administrative charges and the
rest is invested in the investment option of your choice. Entry into the plan will be
based on the unit value of the investment option at theta time. Your policy value is
based on the value of units slated to you.
How do I start?
Open an account with a minimum contrition of:
Rs 60,000 per annum for annual premium payment
Rs.30,000 per half-year for half yearly premium payment
Rs. 5,000 per month for Monthly premium payment.
Asset Allocation
Fund
Asset Mix
Potential Risk-Reward
Maxi miser II
Equity and Related Securities : Max

100 %
High
Debt, Money Marker and Cash :Max :

25%
Balancer II
Equity and Related Securities : Max 40

%
Average

60%
Protector II
Equity and Related Securities : Max

100 %
Moderate

25%
Preserver
Debt Instruments : Max 50 %
Low
Money and cash : Min 50 %
Allocation of Premium
Premium Range
1st Year
2nd and 3rd Year
Rs. 60,000 Rs.4,99,999
87%
96%
Rs. 5,00,000 and above
89 %
96 %
Invest Assure; a unique, flexible insurance plan combines the security of a life
insurance policy with the opportunity to exploit the upside of market returns.
(However with increased investment volatility)
Invest Assure-The Benefits
Provides security to your family incase of your unfortunate demise.
Gives you the flexibility to choose your fund based on your risk comfort.
Enables you to enjoy market-linked returns with a potential for higher growth
Brings you additional income on funds that might have otherwise given you
minimum returns in your saving account.
MAX NEW YORK LIFE
Life Maker Unit Linked Investment Plan

A winning plan form every direction
1f How does the Life Maker Unit Linked Investment Plan work?
In the Life Maker TM unit linked plan; the premiums you pay are invested in funds
offered by us. The appropriate ratio of investments into these funds will be
determined by you in consultation with your Agent Advisor. These funds are
invested in assets such as equities, money market instruments, investment grade
corporate bonds, and government securities. These funds offer a wide range of
returns. You can choose to invest your premiums in one or more of these funds,
basis your risk taking ability.
In turn, we issue units, which represent the value of your policy Le. you can "see"
the value of your policy on any day by multiplying the number of your units by the
value of units on that day. The value of these units is called the Net Asset Value (or
NAV) and is normally published in newspapers on a daily basis. The NAV is based on
the market value of the underlying investments in that fund Le. equities, company
bonds, government securities, etc.
Types of Funds
Secure Fund - invests 100% in high quality fixed income securities issued by the
Government of India, or companies or other bodies corporate with a high credit
rating. This fund will have low level of risk and return.
Conservative Fund - invests largely in high quality fixed income securities issued
by the Government of India or companies or other bodies corporate with a high
credit rating. A small portion of the fund, not exceeding 15%, may be invested in
high quality Indian equity stocks. This fund will have a low to moderate level of risk
and return.
Balanced Fund - invests in both high quality fixed income securities issued by the
Government of India or companies or other bodies corporate with high credit rating,
as well as in high quality Indian equity stocks. However, the investment in equities
will not exceed 40% of the size of the fund. This fund will have a moderate level of
risk and return.
Growth Fund - invests largely in high quality Indian equity stocks. A small portion
of the fund may be invested in high quality fixed income securities issued by the
Government of India or companies or other bodies corporate with high credit rating.
This fund will have a moderate to high level of risk and return.
Allianz Bajaj Unit Gain

The Allianz Bajaj Unit Gain Plan
The Allianz Bajaj Unit Gain comes with a host of features to allow you to have the
best of all worlds Protection and Investment with flexibility like never before.
Some of the key features of this plan are:
Guaranteed death benefit
Choice of investment funds with flexible investment management you can

change funds at any time.
Attractive investment alternatives to fixed- interest securities.
Provision for full/ partial withdrawals any time after three full years premiums
are paid.
Unmatched flexibility to match your changing needs.
The four funds offered are as under:a)

Equity Bond This fund provides the scope of high appreciation over a long
term. The fund will primarily invest in equities & is expected to match returns given
by NSE NIFTY. This fund will invest at least 90% in equities and maximum 10% in
cash.
b)
Debt Fund This fund provides the scope for steady returns at low risk
through investment in high quality fixed income securities. This fund will be
invested fully in debt instruments.
c)
Balanced Fund The balanced fund is primarily for those who prefer a mix of
steady returns & growth. The balanced fund will invest 30% to 50% in the equity
fund and 50% to 70% in the debt fund.
d)
Cash Fund The cash fund will invest conservatively in money market & shortterm investments to ensure that return on investments shall never be negative.
100% of this fund will be invested in money market instruments. The price of the
units in this fund is guaranteed never to go down.
KOTAK FLEXI PLAN
What is the Kotak Flexi Plan?

An investment cum insurance plan that can be customized to meet your constantly
evolving needs. While on one hand it lets you decide the amount of insurance cover
that you want, on the other hand, it invests a portion of the premium in the capital
markets to ensure that your money works hard for you.
At the same time the plan ensures that you have enough flexibility to meet your
financial objectives of savings and protection, both through this single plan. The
plan gives you the option to add lump sum injections, when you want. And whats
more it cover, you the flexibility to withdraw your funds in part in full.
Plan Description
When you invest in the plan, you have the flexibility to choose the portion of your
money that should go towards providing your insurance cover, and the portion
should go towards the investment corpus.
Maturity Benefit:- You have the option to choose the sum assured that you would
want on maturity. This sum assured would be referred to as the maturity sum
assured or SA1. Portion of the premium corresponding to this amount would be
referred to as the investment premium or P1.
On maturity, you would event of death of the life insured, the beneficiary would
receive SA2 plus the market value of the units, less unpaid P2 premiums.
Death Benefit:- The plans offer you the flexibility to decide the amount of
insurance cover that you want. The amount of insurance cover selected would be
referred to as the insurance sum assured or SA2. Portion of the premium
corresponding to SA2 would be referred to as the insurance premium or P2.
In the unfortunate event of death of the life insured, the beneficiary would receive
SA2 plus the market value of the units, less unpaid P2 premiums.
Money Market Fund The fund seeks to provide reasonable returns
commensurate with low risk through investments in money market instruments
such as treasury bills, commercial paper, call money market, etc.
Floating Rate Fund The fund seeks to deliver returns in line with the market
interest rate, from a portfolio invested primarily in floating rate debt instruments.
Gilt Fund The fund seeks to generate returns through investments primarily in
government securities. The fund gives you an option to invest in zero credit risk
Central Government securities as it recognizes that safety for you is prime.
Bond Fund The fund seeks to generate returns from a portfolio constituted
primarily of high quality debt paper issued by corporate in India.
Balanced Fund The fund seeks to achieve steady income and capital
appreciation from a portfolio constituted of high quality debt securities and listed
equity.
Growth Fund The fund seeks to achieve capital appreciation through investments
in listed equity and equity related investments. Securities will be enhanced
through holdings in highly rated debt securities.
Eligibility
ENTRY AGE
Min 14 years
Max 65 years
TERM OF THE PLAN
Min 10 years
Max 30 years
LUMP SUM INJECTION

AMOUNT
Min Rs 10,000
Thereafter in multiples of Rs. 10,000
PART WITHDRAWLS AMOUNT Min Rs. 10,000

Max Subject to leaving behind a balance of
Rs.
10,000 in the Main Account
SA2
Min Rs. 50,000
P1 (INCLUDING POLICY FEES) Mode
Amount
Quarterly
Half Yearly
Yearly
Rs . 2,620
Rs. 5,115
Rs. 10,000
LIFE INSURANCE CORPORATION

LICs Future plus
It fulfills an existing Mkt. Demand & combines Retirement Benefits with U.L. Benefits
Features:1)
Min Premium = 10,000
2)
Max Premium = No Limit
3)
Mode of Payments Cash up to any amount or Local Cheque / D.D.
4)
Add onus Ins. Cover/ Accidental Benefit/Critical illness optional
5)
Switch over from fund to another any number of time.
6)
4 Switches free in a yr & Rs. 100 per switch over thereafter.
7)
Min Term 5 yrs.
8)
Vesting Age 40-75 yrs.
9)
Any person b/w 18-65 yrs only.
10) Add to your fund any time & any amount in multiple of 1000 only.
11) No medical Exam
12) Zero lock in period.
RESEARCH METHODOLOGY
The research design is the conceptual structure with in which research is

conducted it consist the blue print of the collection measurement and analysis of
data.
In that project the research design was adopted for the Descriptive
research study the exploratory research studies are also termed as formulate
research studies. The main purpose of such studies is that of formulating a problem
for more precise investigation or of developing the working hypothesis from an
operational point of view
The main purpose of the study was to tell the consumer perception in A .
The major emphasis was on the discovery of the ideas and opinions of the
consumers at different levels in the existing environment.
Two methods that are used for the study are:
1. The survey of concerning literature.
2. The experience study.
SAMPLE DESIGN
A sample design is a definite plan for obtaining a sample from a given
population. It refers to the technique or the procedure the researcher would adopt in
selecting items for the sample. The sample design is determined before data are
collected.
The sampling used for the study is Convenience Sampling. Under this
sampling design every item or the universe has equal chance or inclusion in the
sample because this is Consumers Perception survey, so we give each person at
any place an equal probability of getting into the sample.
DATA COLLECTION
TYPES OF DATA
In the survey two types of data are collected:
1.
Primary data: These datas are those which are collected for the first time
and therefore original in nature.
2. Secondary data: Data, which have already been collected by someone else and
hence passed through the statistical process.
DATA SOURCE
PRIMARY DATA COLLECTION
For the collection of the primary data following methods were used:
1.
Interview method: Personal interviews of the customers are taken at different
levels to get their opinions and suggestions. And the interview was structured in
nature.
2.
Questionnaire method: Structured questionnaire on the basis of information
collected from different sources. The questionnaire contains both open and ended
questions.
SECONDARY DATA COLLECTION
Secondary data were collected from the following sources:

a.
Books related to topic
b.
Organization documents
c.
Magazines
d.
Websites
DATA APPROACHES
Stratified Random Probability Sample Selection Method.
Research Instrument
Questionnaire
Focus Group
Observation
Direct Method
MECHANICAL INSTRUMENT:
Telephonic Method
POPULATION:
Sampling Unit: Comparative Study between Birla Sun life & Other Insurance
Companies
Sample size : Approximate 100
Sample Selection Procedure : Probability
Contact Method
Direct method
Telephone
STATISTICAL TOOLS USED
Statistical tools used in the project study are:

Graph
FINDING & ANALYSIS
Question 1- Given a choice you would prefer to invest in?
S.No
.
Investment Options
Percentage
Fixed Deposits
31.4
Post Office Schemes
21.6
NSS
14.7
Shares
8.8
Insurance
12.7
Others
10.8
Interpretation: Mostly people are interested in investing in FDs, Post office

schemes, NSS and Very few are i.e. 12.7% interested in investment in Insurance
Question 2-How much of your income would you like to invest in insurance
annually?
S.No.
Income
group
1000-5000
6000-10000
11000-20000
20000&above
Percentage
36.3
39.2
12.7
11.8
Interpretation: Around 40% of respondents are willing to invest in insurance

between Rs 6000-Rs 10000. annually. 36.3% people are ready to invest between Rs
1000 to Rs 5000 and very few are willing to invest in insurance above Rs10000
annually.
Question 3- While taking insurance plan how you rate the following?
S.N
o.
Purpose of Insurance
Percentage
Tax Benefits
23.7
Investment
32.3
Saving
24.7
Risk
19.3
Interpretation: According to the rating, it has been found that people take
insurance basically for risk coverage i.e. 19.3% and secondly in order to get tax
benefits i.e.. 23.7%, followed by savings i.e.24.7% and very few think it for
investment Options.
Question 4- In future, which life insurance plans you will prefer?
S.No.
PLANS
Pension
Plan
Protection
Plan
Saving Plan
Investment
Plan
ULIP
PERCENTA
GE
55%
12%
8%
21%
4%
Interpretation : The graph indicates that 55% of people will like to go for Pension
Plan in future as most of them want to make their future secure . Very few people
are aware of Unit Link Plans and would like to invest in them one of the reason for
this can be lack of information about such Plans.
Question 5-.PERCENTAGE OF PEOPLE HAVING LIFE INSURANCE POLICY ?

Sample size 100
Insured
93%
Not Insured
7%
Interpretation : The above diagram represent that 93% of people are covered
under life insurance while 7% are still not insured.
Ques.6. Which Birla Sun Life Scheme does you have?
S. No.
Plan
Health
Retirement
Life
Percentage
10%
22%
68%
Interpretation: On the basis of above analysis it has been concluded that around
68% of the policy holders are having life plan, 22% of them are having Retirement
plan and rest of them are having the health plan.
Question.7. Which plan of Birla Sun Life attract the Investor?
Option
Percentage
Yes
72
No
28
Interpretation: On the basis of the analysis it has been concluded that around
72%of the people are satisfied with plan they and rest if them are not satisfied.
Ques.8. Are you satisfied with the services provided by the company
regarding new plans and schemes?
Option
Percentage
Yes
82
No
18
Interpretation: On the basis of the above analysis it has been concluded that
around 82% of the policy holders are satisfied with the services provided by the
company and rest of them are not satisfied.
Ques.9. Are you interested to make more investments in BSLI ?
Option
Percentage
Yes
67
No
33
around 67% of the policyholders are interested to make more investments in BSLI
and rest of them are not interested.
Ques.10. Have you any other Insurance Plan apart from BSLI?
Option
Percentage
Yes
72
No
28
Interpretation: On the basis of the above analysis it has been concluded

that around 72% have a BSLI plan
Ques. 11. If yes, then of which Life Insurance Company?
S. No.
Company
LIC
BSLI
BAJAJ
ALLIANZ
ICICI
OTHER
Percentage
60
12
11
Interpretation : From the above analysis it has been concluded that around 89%
of policy holders are having other insurance plans apart from BSLI , in which around
60 % are having LIC insurance plans, 11% are having Bajaj Allianz, 9% are having
Birla Sunlife, 8% are having ICICI Pru. and 12% are having other company insurance
plans.
Ques.12. If you get any attractive plan than are you ready to switch over?
Option
Percentage
Yes
82
No
18
around 82% of the policy holders are ready to switch over if they get good attractive
insurance plan and rest of them dont.
Question 13.-PERCENTAGE OF PEOPLE INSURED WITH DIFFERENT

COMPANIES
S.No
.
COMPANIES
PERCENTAGE
LIC
72.5%
HDFC- Std Life Insurance
3.9%
ICICI
10.8%
Birla Sun Life
1%
Tata AIG
1%
Max New York Life
4.9%
No Response
5.9%
Interpretation : While LIC still remains the undisputed leader with a commanding
share of 72.5%.LIC is beginning to feel the pinch of a gradual warning of market
share from 100%three years ago. Knocked by competition from private players it is
making serious changes in its marketing strategies.
Question 14 - From where did you get the information about the policy?.
S.No
.
OPTION
PERCENTAGE
Friend & Relative
65.7
Media
11.8
FC
15.7
Other
6.9
Interpretation: Friends and relatives play a significant role in influencing the

individuals decision regarding going for life insurance policy, followed by advisors
or financial consultants then media and others.
Question 15- What expectations do you have from the advisor/FC ?
S.No
.
Expectations
Percentage
Knowledge
42
Rebate
26
Understanding
27
After Sale Service
Interpretation : Around 42% of people expect the Advisors / FC to be

knowledgeable about the various Insurance Plans and very less importance i.e. 5%
is given to after sale service being provided by these advisors.
CONCLUSION
Over the past three years, around 40 companies have expressed interest in entering
the sector and many foreign and Indian companies have arranged anticipatory
alliances. The threat of new players taking over the market has been overplayed. As
is witnessed in other countries where liberalization took place in recent years we
can safely conclude that nationalized players will continue to hold strong market
share positions, but there will be enough business for new entrants to be profitable.
Opening up the sector will certainly mean new products, better packaging and
improved customer service. Both new and existing players will have to explore new
distribution and marketing channels. Potential buyers for most of this insurance lie
in the middle class. New insurers must segment the market carefully to arrive at
appropriate products and pricing. Recognizing the potential, in the past three years,
the nationalized insurers have already begun to target niches like pensions, women
or children.
Given the industrys huge requirement of start-up capital, the initial years after
opening up are bound to see a strong inflow of foreign capital. Substantial shift in
the distribution of insurance in India is likely to take place. Many of these changes
will echo international trends. Worldwide, insurance products move along a
continuum from pure service products to pure commodity products. Initially,
insurance is seen as a complex product with a high advice and service component.
Buyers prefer a face-to-face interaction and place a high premium on brand names
and reliability.
Finally, some potential Indian entrants into insurance hope to ride their existing
distribution networks and customer bases. For example financial organizations like
ICICI, HDFC or BIRLA intend to tap the thousands of customers who already buy
their deposits, consumer loans or housing finance. Other hopeful entrants anticipate
specific alliances such as with hospitals to provide health cover.
SUGGESTIONS
1.
To address mass is cheaper. Thus sponsoring the events conducted by CII,
FICCI, PHD Chamber of commerce and other such renowned organizations could be
fruitful. Along with these certain cultural events may be sponsored.
2.
Increasing awareness level by increasing number of hoarding in prime areas
such as Bank Square sector , railway station, bus stand and industrial area.
3.
There should be no upper limits for CFC's under a BDM because as
competition goes companies like Allianz Bajaj and Tata AIG has no upper limits.
4.
Measures to build faith among people about corporate BIRLA SUN LIE
INSURANCE must be taken on accounts of its reliability, credibility, responsibility,
sincerity and the long lasting establishment.
5.
Since all the riders attached with any of its products is along with a slight
increment in the premium rates, as such a few cost free riders should be designed
to attract more customers.
6.
Put up ATM's in different areas so that premium can be collected across the
country.
7.
There should be a particular. Product, which can be termed as Fixed Deposit
Insurance product, where life insurance policy can act as a fixed deposit for the
customer, which can be encashed whenever required up to a certain percentage of
sum assured.
8.
The agent should not only be provided with training at time of section but
they should also be given refresher training periodically. As the agents find training
a step to be selected as an agent of the company, the agent should be provided the
knowledge about all the cheques. It increase their professionalism make them more
competitive. Every year the agents should be given the training for at least one
week.
9.
The company should take steps to give more incentives to the agents as the
commission percentage is fixed by insurance regulatory developments authority
(IRDA).
10.
As the most important media to increase the sate, the agent should be
provided with more and more incentives to motivate them to work for that company
only.
11.
The company should also make effort in advertisement through city Cable
Channel as wide is covered by it Banners on the highway or other crowded area
should be setup.
12.
The company should cover various risks in one policy with same premium.
LIMITATIONS
v Some of the respondents were not cooperative.

v Some respondents were hesitating to give business details.
v Biasness is another limitation that the scope of the survey.
v The reliability and scope of survey greatly relies on the cooperation of the
respondents.
BIBILIOGRAPHY
BOOKSE Kothari C.R., Research Methodology, 4th Edition 2002

E Kottler Philip, Marketing Management, 10th Edition, Prentice- Hall of India Pvt.
Ltd., 2001
E Thakur Devendra, Research Methodology, Deep & Deep Publication Pvt. Ltd. ,
2005
MAGAZINES
E India Today
E Business World
E Money
E Business Week
INTERNET
E www.birlasunlife.com
E www.birlasunlifeinsurance.com
QUESTIONNAIRE
Question 1- Given a choice you would prefer to invest in?
S.No
.
Investment Options
Fixed Deposits
Post Office Schemes
NSS
Shares
Insurance
Others
Tick
Question 2-How much of your income would you like to invest in insurance
annually?
S.No.
Income
group
1000-5000
6000-10000
11000-20000
20000&above
Tick
Question 3- While taking insurance plan how you rate the following?
S.N
o.
Purpose of Insurance
Tax Benefits
Investment
Saving
Tick
Risk
Question 4- In future, which life insurance plans you will prefer?

S.No.
PLANS
Pension
Plan
Protection
Plan
Saving Plan
Investment
Plan
ULIP
Tick
Question 5-.PERCENTAGE OF PEOPLE HAVING LIFE INSURANCE POLICY ?
Option
Tick
Insured
Not Insured
Ques.6. Which Birla Sun Life Scheme does you have?

S. No.
Plan
Health
Retirement
Life
Tick
Question.7. Which plan of Birla Sun Life attract the Investor?
Option
Tick
Yes
No
Ques.8. Are you satisfied with the services provided by the company
regarding new plans and schemes?
Option
Tick
Yes
No
Ques.9. Are you interested to make more investments in BSLI ?
Option
Tick
Yes
No
Ques.10. Have you any other Insurance Plan apart from BSLI?
Option
Tick
Yes
No
Ques. 11. If yes, then of which Life Insurance Company?
S. No.
Company
LIC
BSLI
BAJAJ
ALLIANZ
ICICI
OTHER
Tick
12.
ANY SUGGESIONS:
1..
2..
3..
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BIRLA SUNLIFE AND OTHER COMPANY

Uninsurable risks include:

Political risks such as war or currency debasement are usually not

1957: General Insurance Council, a wing of the Insurance Association of India,

Insurance sector reforms

Government stake in the insurance Companies to be brought down to 50%

All the insurance companies should be given greater freedom to operate

Private Companies with a minimum paid up capital of Rs.1bn should be

Foreign companies may be allowed to enter the industry in collaboration with

Postal Life Insurance should be allowed to operate in the rural market

The Insurance Act should be changed

An Insurance Regulatory body should be set

Controller of Insurance (Currently a part from the Finance Ministry) should be

Mandatory Investments of LIC Life Fund in government securities to be

LIC should pay interest on delays in payments beyond 30 days

Insurance companies must be encouraged to set up unit linked pension

Computerization of operations and updating of technology to be carried out in

The Insurance Regulatory and Development Authority Act, 1999

SCOPE & IMPORTANCE OF STUDY

To do a performance evaluation of Birla Sun Life Insurance products in comparison

Insurance is a must because of the uncertain future adversities of life. Accidents,

Some of the important milestones in the general insurance business in

Life Insurance Corporation of India (LIC) Popular Products: Endowment

General Insurance Corporation of India (GIC) Fire and Miscellaneous insurance

The Oriental Insurance Company Limited

The New India Assurance Company Limited,

National Insurance Company Limited

United India Insurance Company Limited

In year 2000-2001 some companies is entered in insurance sector. There

HDFC Standard Life Insurance Company Ltd.

Max New York Life Insurance Co. Ltd.

ICICI Prudential Life Insurance Company Ltd.

Kotak Mahindra Old Mutual Life Insurance Limited

Birla Sun Life Insurance Company Ltd.

Tata AIG Life Insurance Company Ltd.

SBI Life Insurance Company Limited

ING Vysya Life Insurance Company Private Limited

Bajaj Allianz Life Insurance Company Limited

Metlife India Insurance Company Pvt. Ltd.

Royal Sundaram Alliance Insurance Company Limited.

IFFCO Tokio General Insurance Company. Ltd.

TATA AIG General Insurance Company Ltd.

Bajaj Allianz General Insurance Company Limited.

ICICI Lombard General Insurance Company Limited.

Reliance General Insurance Company Limited.

Need For Life Insurance -:

Why life insurance?

When is the right time to buy life insurance?

Final Expenses resulting from death

Guaranteed maintenance of lifestyle

Mortgage or liquidation payment

Estate and other taxes

Continuity & security of interests

Final expenses resulting from death

grow and become a professionally qualified engineer or physician or likewise. And

In India the group holds a frontrunner position as

To be a world class provider of financial security to individuals and corporate and to

Flexi Secure Life Retirement Plan II

Children's Dream Plan

Level Term Assurance with return of premium

Invest Shield Cash

Flexibility to increase or decrease your sum assured.

Smart Kid regular premium

All these plans offer you: