BVM COLLEGE OF MANAGEMENT EDUCATION

SUMMER TRAINING PROJECT REPORT

ON
FINANCIAL CONSULTANT FOR HDFC-SLIC

JIWAJI UNIVERSITY, GWALIOR

TOWARDS THE PARTIAL FULFILLMENT
OF DEGREE OF
“BACHELOR OF BUSINESS ADMINISTRATION”
(2008-2011)

HDFC STANDRED LIFE INSURANCE CORPORATION

GWALIOR.

SUBMITTED TO SUBMITTED BY
MISS. CHETNA PANDEY PARDEEP KUMAR
FACULTY B.V.M. COLLEGE B.B.A. V SEM.
 Certificate

This is to certify that the project entitled “MARKET RESEARCH ON FINANCIAL

CONSULTANT FOR HDFCSLIC, Gwalior” submitted at BVM COLLEGE OF
MANAGEMENT EDUCATION, Gwalior, in partial fulfillment of the requirement for
the award of degree of Bachelor of Business Administration, embodies the
results of bonafide project work carried out by Mr.PARDEEP KUMAR under my
guidance and supervision, and no part of this project work has been submitted to any
other degree.

Date:
Place: BVM GWALIOR Miss .Chetna Pandey
 Declaration

I, PARDEEP KUMAR hereby declare that the project work entitled, “MARKET
RESEARCH ON FINANCIAL CONSULTANT FOR HDFCSLIC, GWALIOR” is
an authentic work done by me for the fulfillment of the requirements of the award for
Bachelor of Business Administration at BVM COLLEGE OG MANAGEMENT
EDUCATION, Gwalior in the year 2008-2011. The data collected for the purpose of
study has been thoroughly collected by me and has not been submitted earlier to any
other Institute or University.

Date:
Place: BVM Gwalior Mr.PARDEEP KUMAR
 Acknowledgements

I would like to express my gratitude to my supervisor, Mr. Anubrat Sharma (SALES

DEVELOPMENT MANAGER), for his wonderful guidance, inspiration and
encouragement. He introduced me to methodical research, gave me the freedom to
pursue my research goals, and provided an excellent research environment, to mention
just a few points. In short, this thesis would not have been possible without his ample
support and guidance.

I would also like to thank MR. AJAY PHALTANKAR lecturer at BVM COLLEGE
OF MANAGEMENT EDUCATION GWALIOR, for his vision and encouragement for
my work. She helped me wherever I was struck and I am very grateful to him for the
successful completion of this thesis.

The collaboration and discussion with my colleagues at BVM and elsewhere was an
indispensable source of information and has spawned a lot of insights for this thesis. I
would like to thank all of my colleagues for their cooperation and openness.

Last but not the least, I express my sincere feeling of gratitude to all my friends and
family members who have constantly encouraged me in carrying out the work.

Mr.PARDEEP KUMAR
CONTENTS-:

CHAPTERS PAGE NO.

1 INTRODUCTION

1.1 REASON FOR SELECTION OF THIS TOPIC. 1-1

1.2 IMPORTANCE OF THE COMPANY. 2-2

1.3 LEARNING FROM THE STUDY. 2-2

2 ORGANIZATIONAL PROFILE
2.1 FORMATION OF COMPANY 3-6

2.2 PRODUCT SCOPE 6-13

2.3 MILESTONES IN THE HISTORY 13-14

2.4 COLLABORATIONS & AFFILIATIONS 14-16

2.5 ORGANIZATION CHART 16-17

3 RESEARCH OF OBJECTIVES & SCOPE

3.1 PROBLEM DEFINATION 18-18

3.2 OBJECTIVES OF RESEARCH PROJECT 18-18

3.3 GEOGRAPHICAL SCOPE 18-19

3.4 PROJECT SCOPE 19-19

 CHAPTERS PAGE NO.

4 RESEARCH METHODOLOGY & LIMITION

4.1 RESEARCH DESIGN 20-21

4.2 SAMPLING PLAN 21-21

4.3 SAMPLE SIZE 22-22

4. DATA COLLECTION INSTRUMENT DEVELOPMENT 22-22

4
4.5 RESEARCH LIMITATIONS 22-22

5 DATA ANALYSIS INTERPRETATION AND 23-38

PRESENTATION
6 CONCLUSION & SUGGESTIONS 39-40

7 LIMITATIONS 40-41

8 ANNEXURE 42-46

9 BIBLIOGRAPHY 46-47

CHAPTER 1: INTRODUCTION
THE TOPIC: “MARKET RESEARCH ON FINANCIAL CONSULTANT FOR
HDFCSLIC, Gwalior”
At HDFC Standard Life Insurance, We were assigned with the topic as “Market
Research on Financial Consultant” for my project work. The selection of the topic was
in order to take know how do these companies generates business through them.
Financial Consultants are those sources of a company who have their own
relations and personal contacts among common public that they use to generate
business through.
Company has certain criteria to recruit these Financial Consultants. The steps are as
follows.
• He should be at least 12th passed.
• He should complete IRDA training.
• He should clear the IRDA exam.
• He should through successfully the exam and training.
Some other criteria:
• He should have good personal contacts.
• He should have convincing power.
• He should be above 18th year old.
Once he through all these steps of recruitment, he becomes the legal Financial
Consultant of the company and reserve the right to sale the policy to any prospect client
also he is paid the commission a certain percentage. There are some reward and tour
package also.

1.2 REASON FOR SELECTION OF THIS TOPIC:

The financial sector is one of the booming and increasing leaps and bounce, some of
the experts say only 20% of Indian population is insured which means 80% Indian are
not insured and therefore having a bright prospect of progress of this sector where I too
would like to build my career and be a part of success story.
The Financial consultants are another channel through which the company sales its
policy. It is really difficult to convince and sale a single policy but since these
consultants have their contacts which they can sale a single policy. Whereas I found my
interest in dealing, interacting and handling a team, because all this most of time park
you in some critical zone which becomes challenge for you and your responsibility
becomes to solve the critical situation or problems.
1.3 IMPORTANCE TO THE COMPANY:
After interacting with company’s marketing head I got to know that they have many
Financial Consultants but not getting the policies up to the expectations level of the
company. Company is really interested in knowing if there is any mistake or lacking
somewhere in process of recruiting and or the criteria they have fixed for the
recruitment. The ultimate purpose of giving me this topic was to revise its recruitment
policy/process.

1.4 LEARNING FROM THE STUDY:

I. The process of recruitment of HDFC STANDARD LIFE INSURANCE LTD.

II. How is the training given?
III. What are the criteria of selection?
IV. The culture of insurance company particularly of HDFC.
V. What are the problems faced by these financial consultants on daily basis?
VI. How to convince and convert the prospect client into real client?

CHAPTER 2: ORGANIZATIONAL PROFILE

1.1 FORMATION OF COMPANY:

HOUSING DEVELOPMENT FINANCE CORPORATION:

HDFC was started by Hasmukh Bhai Parekh in1977 with the formation of Malhotra
Committee. HDFC was incorporated with the primary objective of meeting a social
need that of promoting home ownership by providing long-term finance to households
for their housing needs. HDFC was promoted with an initial share capital of Rs. 10
corers.

HDFC has since emerged as the largest residential mortgage finance institution in the
country. The corporation has had a series of share issues raising its capital to Rs. 119
corers. The net worth of the corporation as on March 31, 2000 stood at Rs. 2,096
corers.

HDFC operates through 75 locations throughout the country with its Corporate
Headquarters in Mumbai, India. HDFC also has an international office in Dubai,
U.A.E., with service associates in Kuwait, Oman and Qatar.

HDFC’s main goals are to:

I. Develop close relationships with individual households.

II. Maintain its position as the premier housing finance institution in the country.
III. Transform ideas into viable and creative solutions.
IV. Provide consistently high returns to shareholders.
V. To grow through diversification by leveraging off the existing client base.

3
STANDARD LIFE:

The Standard Life Assurance Company ("Standard Life") was established in 1825 and
the first Standard Life Assurance Company Act was passed by Parliament in 1832.
Standard Life was reincorporated as a mutual assurance company in 1925.

Standard Life is Europe's largest mutual life assurance company. Standard Life, which
has been in the life insurance business for the past 182 years, is a modern company
surviving quite a few changes since selling its first policy in 1825. The company
expanded in the 19th century from its original Edinburgh premises, opening offices in
other towns and acquiring other similar businesses.

Standard Life currently has assets exceeding over £70 billion under its management
and has the distinction of being accorded "AAA" rating consequently for the past six
years by Standard & Poor.

STANDARD LIFE ASIA LIMITED/JOINT VENTURES:

The group’s Hong Kong subsidiary, Standard Life Asia Limited (“SL Asia”), was
incorporated in 1999 as a joint venture and became a wholly-owned subsidiary of
Standard Life in 2002. The group’s operations in Hong Kong were established to give
the group a presence in the Far East from which it could expand into China. The
group’s joint ventures in India with Housing Development Finance Corporation
Limited (“HDFC”) were incorporated in 2000 (in relation to the life assurance and
pension’s joint venture) and 2003 (in relation to the investment management joint
venture). The group’s joint venture in China with Tianjin Economic Development Area
General Company (“TEDA”) became operational in 2003.

4
 STANDARD LIFE GROUP

I. The Standard Life group has been looking after the financial needs of customers
for over 182 years
II. It currently has a customer base of around 7 million people who rely on the
company for their insurance, pension, investment, banking and health-care
needs
III. Its investment manager currently administers £125 billion in assets.
IV. It is a leading pensions provider in the UK, and is rated by Standard & Poor's as
'strong' with a rating of A+ and as 'good' with a rating of A1 by Moody's
V. Standard Life was awarded the 'Best Pension Provider' in 2004, 2005 and 2006
at the Money Marketing Awards, and
VI. It was voted a 5 star life and pension’s provider at the Financial Adviser Service
Awards for the last 10 years running.
VII. The '5 Star' accolade has also been awarded to Standard Life Investments for the
last 10 years, and to Standard Life Bank since its inception in 1998.
VIII. Standard Life Bank was awarded the 'Best Flexible Mortgage Lender' at the
Mortgage Magazine Awards in 2006.

INCORPORATION OF HDFC STANDARD LIFE INSURANCE CO.

LTD.:
The company was incorporated on 14th August 2000 under the name of HDFC
Standard Life Insurance Company Limited.Their ambition from the beginning was to
be the first private company to re-enter the life insurance market in India. On the 23rd
of October 2000, this ambition was realized when HDFC Standard Life was the first life
company to be granted a certificate of registration. HDFC are the main shareholders in
HDFC Standard Life, with 81.4%, while Standard Life owns 18.6%. Given Standard
Life's existing investment in the HDFC Group, this is the maximum investment allowed
under current regulations.
5
HDFC and Standard Life have a long and close relationship built upon shared values
and trust. The ambition of HDFC Standard Life is to mirror the success of the parent
companies and be the yardstick by which all other insurance companies in India are
measured.

HDFC Standard Life Insurance Company Ltd. is one of India’s leading private life
insurance companies, which offers a range of individual and group insurance solutions.
It is a joint venture between Housing Development Finance Corporation Limited
(HDFC Ltd.), India’s leading housing finance institution and one of the subsidiaries of
Standard Life plc, leading providers of financial services in the United Kingdom.

Both the promoters are well known for their ethical dealings and financial strength and
are thus committed to being a long-term player in the life insurance industry.

2.2 PRODUCT SCOPE:

HDFC Standard Life offers a bouquet of insurance solutions to meet every need. The
company caters to both, individuals as well as to companies looking to provide benefits
to their employees.
For individuals, the company has a range of protection, investment, pension and
savings plans that assist and nurture dreams apart from providing protection. The
customers can choose from a range of products to suit their life-stage and needs.

6
For organizations they have a host of customized solutions that range from Group
Term Insurance, Gratuity, Leave Encashment and Superannuation Products. These
affordable plans apart from providing long term value to the employees help in
enhancing goodwill of the company. The products of the company are categorized into
various sections which are as follows:

A. INDIVIDUAL PRODUCTS
B. GROUP PRODUCTS
C. RURAL PRODUCTS
D. SOCIAL PRODUCTS
E. TAX BENEFITS

For Individuals, HDFC Standard Life has a range of protection, investment,

pension and savings plans that assist and nurture dreams apart from providing
protection. Customer can choose from a range of products to suit his life-stage and
needs.
For Organizations, HDFC Standard Life has a host of customized solutions that
range from Group Term Insurance, Gratuity, Leave Encashment and Superannuation
Products. These affordable plans apart from providing long term value to the
employees help in enhancing goodwill of the company.
Individual Products:
I. HDFC Children's Plan,
II. HDFC Endowment Assurance Plan,
III. HDFC Loan Cover Term Assurance Plan,
IV. HDFC Money Back Plan,
V. HDFC Personal Pension Plan,
VI. HDFC Single Premium Whole Of Life Plan,

7
 VII. HDFC Term Assurance Plan,
VIII. HDFC Unit Linked Endowment,
IX. HDFC Unit Linked Endowment Plus,
X. HDFC Unit Linked Pension,
XI. HDFC Unit Linked Pension Plus,
XII. HDFC Unit Linked Young Star,
XIII. HDFC Unit Linked Young Star Plus

At HDFC Standard Life realize that not everyone has the same kind of needs.
Keeping this in mind, varied range of products that customer can choose from to
suit all needs. These will help secure customer future as well as the future of
family.

Protection Plans:
Customer can protect his family against the loss of his income or the burden of a loan
in the event of his unfortunate demise, disability or sickness. These plans offer valuable
peace of mind at a small price.
HDFC Standard Life Protection range includes Term Assurance Plan & Loan Cover
Term Assurance Plan.

Investment Plans:
HDFC Standard Life Single Premium Whole of Life plan is well suited to meet long
term investment needs. HDFC Standard Life provides with attractive long term returns
through regular bonuses.

8
Pension Plans:
HDFC Standard Life Pension Plans help secure financial independence even after
retirement. Pension range includes Personal Pension Plan, Unit Linked Pension, and
Unit Linked Pension plus Savings Plans.

Savings Plans:

HDFC Standard Life Savings Plans offer flexible options to build savings for future
needs such as buying a dream home or fulfilling children’s immediate and future needs.

Group Products:
I. Group Term Insurance,
II. Group Variable Term Insurance,
III. Group Unit Linked Plan,
IV. Gratuity Group Unit Linked Plan,
V. Superannuation Group Unit Linked Plan ,
VI. Leave Encashment

9
PRODUCT PORTFOLIO

HDFC offers products as per the life stages of the customers and their respective needs.

Your insurance need will change as your life does, from starting to work to enjoying
your golden years and all the stages in between. Each one of these stages may pose a
different insurance need/cover for you. In this section, we have drawn up the basic life
stages and help you analyze various insurance needs accordingly.

10
LIFE STAGES & NEEDS IN HAT STAGES

STAGE 1: YOUNG & SINGLE

An important stage where one lays down the foundation of a successful

life ahead. Take advantage of the time and power of compounding to
ensure that you build up your dreams. Start savings early.

NEEDS:
 Save for Home & Wedding
 Tax Planning
 Save for Golden Years

STAGE 2: JUST MARRIED

Marriage brings about a significant change. New dreams and new

opportunities also bring in additional responsibilities. While both of
you look forward to a happy and secure life, it is equally important to
ensure that eventualities don’t come in the way of shaping your dreams.

NEEDS:
 Planning for home / securing your home loan liability.
 Save for vacation.
 Save for your first child.

11
 STAGE 3: PROUD PARENTS

Once you have children, your need for life insurance is even more.
You need to protect your family from an untoward incident. Ensure
your protection umbrella takes into account the future cost of
securing your child’s dream. You will want life to go on for your loved ones, and having
enough life insurance is a way to help ensure that.

NEEDS:
 Provide for children's education
 Safeguarding family against loan liabilities
 Savings for post-retirement

STAGE 4: PLANNING FOR RETIREMENT

While you are busy climbing the ladder of success today, it is important for
you to take time and plan for your life after retirement. Having an early start
for retirement planning can make a significant difference to your savings.
Think about your golden years even before you have reached them. The key is to think ahead
and plan well using your time and money.

NEEDS:
 Provide for regular income post retirement
 Immediate Tax benefits
 Lead a secure, independent and comfortable life style in your retirement
years.

12
COMPARITIVE ADVANTAGE OVER COMPETITORS PRODUCT:

I. I compared two products, ICICI smart kid unit link and HDFC young star, in
both the policies parent is insured and child in nominee or beneficiary,

II. Both the policies contains same features, only additional rider is available in
smart kid is income benefit rider (IBR), how this rider works? this rider comes
in the picture when the parent expires or becomes permanent disable at that
time this rider pay 10% of sum assurance to nominee,

III. HDFC Young star offers Insurance Cover up to 20 Times of Annual Premium.
You may Pay Rs. 30000 per year & take Insurance Cover of Rs. 6 Lacks.

IV. You may take Critical Illness Rider in HDFC Young star up to 65 years Age(as it
Cheaper than other ULIPS ).

V. The returns from HDFC TaxSaver, HDFC LT Advantage fund are better than the
returns from HDFC Standard Life Equity Fund.

VI. HDFC Standard ULIP Returns are over 70% in last 1 year.

VII. HDFC Young star with Maximum Insurance Cover of Rs.3.6 Lacks
 13

2.3 MILESTONES IN THE HISTORY

I. HDFC is India’s leading housing finance institution and has helped build more
than 23, 00,000 houses since its incorporation in 1977.
II. In Financial Year 2003-04 its assets under management crossed Rs.36, 000Cr.
III. As at March 31, 2004, outstanding deposits stood at Rs. 7,840 corers. The
depositor base now stands at around 1 million depositors.
IV. Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year
V. Awarded The Economic Times Corporate Citizen of the year Award for its long-
standing commitment to community development.
VI. Presented the ‘Dream Home’ award for the best housing finance provider in
2004 at the third Annual Outlook Money Awards
VII. HDFC Standard Life Insurance is the first private life insurance company to be
granted a license by IRDA
VIII. Rated as the "Best New Insurer - 2003" by Outlook Money magazine, India’s
number 1 personal finance magazine
IX. Rated by ‘Business world’ as ‘India’s Most Respected Private Life Insurance
Company’ in 2004.
X. Has the highest brand recall, close to 80% (Source: AC Neilson ORG MARG,
April 2005)
XI. Has one of the widest branch networks with offices in over 100 cities servicing
over 440 towns
 14

2.4 COLLABORATIONS & AFFILIATIONS: SUBSIDIARY AND

ASSOCIATE COMPANIES:

I. HDFC Bank
II. HDFC Mutual Fund
III. HDFC Standard Life Insurance Company
IV. HLSIL
V. HDFC Chubb General Insurance Company Ltd.
VI. Intel net Global Services Ltd.
VII. Other Companies Co-Promoted by HDFC
VIII. Financial Information with regard to Subsidiary Companies

1.1.1.1.1 BANCASSURANC
1.1.1.1.2 GROUP E PARTNERS
COMPANIES
 15

QUALITY POLICY:

• SECURITY: Providing long term financial security to our policy holders will
be our constant endeavor. We will be doing this by offering life insurance and
pension products.
• TRUST: We appreciate the trust placed by our policy holders in us. Hence, we will
aim to manage their investments very carefully and live up to this trust.
• INNOVATION: Recognizing the different needs of our customers, we will be
offering a range of innovative products to meet these needs.

I. INTEGRITY
II. CUSTOMER CENTRIC
III. PEOPLE CARE “ONE FOR ALL AND ALL FOR ONE”
IV. TEAM WORK
V. JOY AND SIMPLICITY
 16

2.4 ORGANIZATION CHART:

Chairman

MD

Zonal Manager

Regional Manager

Retail Marketing Alternative Channel Operation Channel Human Resource

MMMarkeMMar

Territory Manager Team Manager HR Executive

Territory Manager

Branch Manager
Branch Manager Operation Manager

Asst. B.M.
Channel Executive

Business Dev. Mgr.

Sales Dev. Mgr.

 17

CHAPTER 3: RESEARCH OBJECTIVES & SCOPE OF

RESEARCH PROJECT

3.1 PROBLEM DEFINATION:

Recruit consultants were with good background human being and through rigorous
process of recruitment but still not able to perform up to the expectation level of
company, HR is not able to short out the problem why the performance is not coming
even after giving the full marketing support.
3.2 OBJECTIVES OF RESEARCH PROJECT:

PRIMARY OBJECTIVES:

I. To recruit more and more Financial Consultant and to promote the benefits
those are provided by HDFC Standard Life to its Financial Consultants
II. To find the different way of recruiting and selecting the Financial Consultants
who can produce more and fruitful results.
III. To study awareness of the HDFC Standard life insurance

SECONDARY OBJECTIVES:
I. To determine the need and purpose of Financial Consultant.
 II. To understand the deciding criteria for people to become Financial Consultant.

III. To collect and analysis the information of prospect candidates in order to make
them appear in front of management so that they can be selected as Financial
consultant.
IV. To offer suggestions based upon the findings.

18

3.3 GEOGRAPHICAL SCOPE:

The same problem was with the all other branches of HDFC even out of the Pune city.
The management is conducting the same research on a big ground while my
contribution is tiny. Though my sample size and geographical area was defined and
confine to a particular territory but the application of output from the research are
going to be wide.

3.4 PROJECT SCOPE:

I. Market segmentation to find the potential consultants for HDFC-SLIC.

II. To customize benefit package for consultants and help them to overcome their
agency problem arising out of their sedentary nature of work.
III. Corporate marketing of this product.
 19

CHAPTER 4: RESEARCH METHODOLOGY & LIMITATIONS

All the findings and conclusions obtained are based on the survey done in the working
area within the time limit. We tried to select the sample representative of the whole
group during my job training. We have collected data from Chartered Accountants, Tax
Consultants, Businessman, Share Brokers, Lawyers, Working Professionals, House
Wives and Retired Persons in Gwalior.

RESEARCH PLAN:

1. Preliminary Investigation: In which data on the situation surrounding the

problems shall be gathered to arrive at
I. The correct definition of the problem.
II. An understanding of its environment.

2. Exploratory Study: To determine the approximate area where the problem lies.

4.1 RESEARCH DESIGN:

Research was initiated by examining the secondary data to gain insight into the
problem. By analyzing the secondary data, the study aim is to explore the short
comings of the present system and primary data will help to validate the analysis of
secondary data besides on unrevealing the areas which calls for improvement.

20

DEVELOPING THE RESEARCH PLAN:

The data for this research project has been collected through Self Administration. Due
to time limitation and other constraints direct personal interview method is used. A
structured questionnaire was framed as it is less time consuming, generates specific
and to the point information, easier to tabulate and interpret. Moreover respondents
prefer to give direct answers. In questionnaires open ended and closed ended, both the
types of questions has been used.

COLLECTION OF DATA:

1: Secondary Data: It was collected from internal sources. The secondary data was
collected on the basis of organizational file, official records, news papers, magazines,
management books, preserved information in the company’s database and website of
the company.
2: Primary data: All the Chartered Accountants, Tax Consultants, Insurance Agents,
Auto loan providers were personally visited and interviewed. They were the main
source of Primary data. The method of collection of primary data was direct personal
interview through a structured questionnaire.
4.2 SAMPLING PLAN:
Since it is not possible to study whole universe, it becomes necessary to take sample
from the universe to know about its characteristics.
i. Sampling Units: Chartered Accountants, Tax Consultants, Lawyers, Business
Man, Professionals and House Wives.
ii. Sample Technique: Random Sampling.
iii. Research Instrument: Structured Questionnaire.
iv. Contact Method: Personal Interview.

21

4.3 SAMPLE SIZE:

My sample size for this project was 200 respondents. Since it was not possible to cover
the whole universe in the available time period, it was necessary for me to take a
sample size of 200 respondents.

4.4 DATA COLLECTION INSTRUMENT DEVELOPMENT:

The mode of collection of data will be based on Survey Method and Field Activity.
Primary data collection is based on personal interview. I have prepared the
questionnaire according to the necessity of the data to be collected.

4.5 RESEARCH LIMITATIONS:

i. It was not possible to understand thoroughly about the different marketing

aspects of the Financial Consultant within 45 days.
ii. As stipend, money was not given it was difficult to continue the project work.
iii. All the work was limited in some limited areas of Gwalior so the findings should
not be generalized.
iv. The area of research was Gwalior; it was too vast an area to cover within 45 days.

22

CHAPTER 5: DATA ANALYSIS, INTERPRETATION AND

PRESENTATION
1. Your Age?
TABLE:-
Sr. No. Category No. of Respondents Percentage
1 18-23 Years 40 20%
2 24-29 Years 70 35%
3 30-35 Years 60 30%
4 35 & above 30 15%
Total 200 100%
Base 200 respondents
GRAPH:-
Interpretation:-
From the table and graph above it can be seen that
 20% respondent’s age are 18 to 23 years.
 35% respondent’s age are 27 to 29 years.
 30% respondent’s age are 30 to 35 years.
 15% respondent’s age are 35 to above years.

23

2. Marital status?
TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Married 140 70%
2 Unmarried 60 30%
Total 200 100%
Base 200 respondents

GRAPH:-
Interpretation
From the table and graph above it can be seen that
 70% respondents are married.
 30% respondents are unmarried.

24

3. Educational Qualification?
TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Under graduate 50 25%
2 Graduate 80 40%
3 Post graduate 70 35%
Total 200 100%
Base 200 respondents
GRAPH :-

Interpretation
From the table and graph above it can be seen that
  25% respondent’s are under graduate.

 40% respondents are Graduate.

 35% respondents are Post graduate.

25

4. Number of years in Gwalior?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Less than five years 78 39%
2 More than five years 122 61%
Total 200 100%
Base 200 respondents

GRAPH:-

Interpretation
From the table and graph above it can be seen that
  39% respondent’s are in Gwalior is less than five years.
 61% respondent’s are in Gwalior is more than five years.

26

5. Your Occupation?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Business 40 20%
2 Profession 108 54%
3 Service 52 26%
Total 200 100%
Base 200 respondents

GRAPH:-

Interpretation
From the table and graph above it can be seen that
 20% respondent’s Occupation is Business.
  26% respondent’s Occupation is Profession.
 54% respondent’s Occupation is Service.

27

6. Your annual household income?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Less than 2 lakhs. 98 49%
2 Between 2 to 5 lakhs 62 31%
3 Between 5to 8 lakhs 30 15%
4 More than 8 lakhs 10 5%
Total 200 100%
Base 200 respondents
GRAPH:-

Interpretation
From the table and graph above it can be seen that
 49% respondent’s annual household income is less than 2 lakhs.

 31% respondent’s annual household income is between 2 to 5 lakhs.

 15% respondent’s annual household income is between 5 to 8 lakhs.

  5% respondent’s annual household income is more than 8 lakhs.

28

7. Are you a member of a club/gymkhana?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 84 42%
2 No 116 58%
Total 200 100%
Base 200 respondents

GRAPH:-

Interpretation
From the table and graph above it can be seen that
 42% respondents are member of a club/gymkhana.

 58% respondents are not member of a club/gymkhana.

 29

8. What is your perception about insurance sector?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Hard and lucrative 60 30%
2 Hard but not rewarding 18 9%
3 Smooth and rewarding 82 41%
4 No idea 40 20%
Total 200 100%
Base 200 respondents
GRAPH:-

Interpretation
From the table and graph above it can be seen that
 30% respondent’s perception about insurance sector is Hard & lucrative.
 9% respondent’s perception about insurance sector is hard but not
rewarding.
 41% respondent’s perception about insurance sector is Smooth & rewarding.
 20% respondent’s perception about insurance sector that they have no idea.
 30

9. Do you know about HDFC Standard Life Insurance?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 164 82%
2 No 36 18%
Total 200 100%
Base 200 respondents
GRAPH:-

Interpretation
From the table and graph above it can be seen that
 85% respondents are known about HDFC Standard life insurance.

 15% respondents are not known about HDFC Standard life insurance.

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10. Do you have any Insurance Policy?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 160 80%
2 No 40 20%
Total 200 100%
Base 200 respondents

GRAPH:-

Interpretation
From the table and graph above it can be seen that
 80% respondent’s have insurance policy.

 20% respondents do not have insurance policy.

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11. Name of Insurance Company?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 LICI 104 65%
2 ICICI 16 10%
3 HDFC SLIC 8 5%
4 OTHERS 32 20%
Total 160 100%
Base 160 respondents
GRAPH:-

Interpretation
From the table and graph above it can be seen that
 65% respondents are insured by LICI.
 10% respondents are insured by ICICI.
 5% respondent’s insured by HDFCSLIC.
 20% respondent’s insured by OTHERS.

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12. Do you hold any license of any insurance company?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 70 35%
2 No 130 65%
Total 200 100%
Base 200 respondents
GRAPH:-

Interpretation
From the table and graph above it can be seen that
 35% respondents are holding license of any insurance company.
 65% respondents are not holding license of any insurance company.

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13. Are you satisfied with the company?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 42 60%
2 No 28 40%
Total 70 100%
Base 70 respondents
GRAPH:-

Interpretation
From the table and graph above it can be seen that
 60% respondents are satisfied with their insurance company.
 40% respondents are not satisfied with their insurance company.

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14. Do you know about HDFC Standard Life Insurance recruitment policies
related to financial consultant?

TABLE:-
 Sr. No. Category No. of Respondents Percentage
1 Yes 82 41%
2 No 118 59%
Total 200 100%
Base 200 respondents
GRAPH:-

Interpretation
From the table and graph above it can be seen that
 41% respondents are known about HDFC Standard Life Insurance recruitment
policies related to financial consultant.
 59% respondents are not known about HDFC Standard Life Insurance
recruitment policies related to financial consultant.

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15. Will you be interested to become Financial Consultant?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 60 30%
2 No 140 70%
Total 200 100%
Base 200 respondents

GRAPH:-

Interpretation
From the table and graph above it can be seen that
 30% respondents are interested to become financial consultant.
 70% respondents are not interested to become financial consultant.

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16. Would you like to earn an additional income through a business

opportunity with HDFC STANDARD LIFE?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 54 90%
2 No 6 10%
Total 60 100%
 Base 60 respondents
GRAPH:-

Interpretation
From the table and graph above it can be seen that
 90% respondents are interested to earn additional income.
 10% respondent’s are not interested to earn additional income

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CHAPTER 6: CONCLUSIONS & SUGGESTIONS

6.1 CONCLUSIONS:

HDFC Standard Life, the insurance arm of HDFC is expected to go on stream.

Promoted by HDFC & Standard Life, already has good number of employees on board
and is recruiting Financial Consultants heavily to take the headcount to many more. It
is on the brim of increasing its client through its attractive schemes and offer.The
project opportunities provided was market segmentation and identifying prospective
clients in potential geographical location and for recruiting them as financial
consultant so to explore new Business Opportunity.
Through this project, it could be concluded that people are not much aware about the
various benefit of being Financial Consultant that are currently prevailing in the
insurance industry.
Insurance was considered as unsought good which require hard core selling, but in
changing trend in income and people becoming financially literate, the demand for
insurance is increasing day by day. So, it is the company that first approaches gets its
share of reward. Proper after sale service can help the advisors to generate more
business. Gradually people are realizing the fact that insurance is not a necessary evil
but means to attain worry free life.

This activity much attracts unemployed people as for them a source of income is a great
help for developing their future. Company’s promotional activities for recruiting
Financial Consultant are also very less.

So, at last the conclusion is that there is tough competition ahead for the company from
its major competitors in terms of number of Financial Consultants.
Last but not the least I would like to thank HDFC SLIC for giving me an opportunity to
work in the field of Financial Consultant. I hope the company finds my analysis
relevant.

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6.2 SUGGESTIONS:

Finally some recommendations for the company are as follows:-

 To make people aware about the benefit of becoming HDFC Standard Life’s
Financial Consultant, following activities of advertisement should be done
through
I. Print Media
II. Hoarding & Banners
III. Stalls in Trade Fares

IV. Distribution of leaflets containing details information

 V. Company can recruit sales promoters so that maximum
information can be provided to the potential client.

 By showing additional and alternative income source along with various

schemes for Financial Consultant in the company so that more and more FC can
be recruited
 Free life cover for every active Financial Consultant.

 Discounted rate premium for its family members

 Make people understand about the meaning of the IRDA authorization and its
validity.
 Company should organize the program in the society, so that people will be
aware about the company

 Separate time slot for Working Professionals, House Wives and Retired people

 Agency of non-life products should also be provided along with life.

 Company should open more branches in different cities

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CHAPTER 7: LIMITATIONS
Every work has its own limitation. Limitations are extent to which the process should
not exceed. Limitations of this project are:-

i. The project was constrained by time limit of one and half months.
ii. Mindset of people may vary depending upon their age, gender, income etc.
iii. Getting appointment from the concern person was very difficult.
iv. People mind set about the survey was an obstacle in acquiring complete
information & positive interaction.
v. Respondents were very busy in their schedule.

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ANNEXURES

QUESTIONNAIRE

Dear Sir/Madam,

I am a student of BVM College of Management education, Gwalior and presently

doing a market survey “MARKET RESEARCH ON FINANCIAL CONSULTANTS FOR
HDFC-SLIC. I request you to kindly fill the questionnaire below and I assure you that
the data
Name: ………………………………………………………………………..
Address: ……………………………………………………………………..
Contact No :®………………( O)……………… (M)………………………
City: ………...............Pin: ………………….State: ……………………….
Generated shall be kept confidential.

1. Your Age: ____________________

2. Education Qualification.

• Undergraduate □
• Graduate □
• Post graduate □

42

3. Marital Status.
• Married □
• Single □
No. of Children: __________

4. Number of years in New Delhi

• Less than five year’s □
• More than five year’s □

5. Occupation.
• Business □
• Profession □
• Service □
 (Please mention below the type of business/profession you are in incase of service
please mention your organization name and designation)

6. Your annual household income.

• <than 2 lack □
• Between 2 to 5 lack □
• Between 5 to 8 lack □
• >than 8 lack □

43

7. Are you a member of a club/gymkhana?

• Yes □
• No □

If yes, Name of the club

/gymkhana_______________________________________

8. What is your perception about insurance sector?

• Hard &lucrative □
• Hard but not rewarding □
• Smooth &rewarding □
• No idea □
9. Do you know about HDFC SLIC?

• Yes □
• No □

10. Do you have any insurance policy?

• Yes □
• No □

44

11. Name insurance company?

• LIC □ ICICI

• HDFC SLIC □ OTHERS

If others, please
specify___________________________________________________

12. Do you hold any license of any insurance company?

• Yes □
• No □
If yes, please specify which
company________________________________________
 Reason_____________________________________________________
_________
13. Are you satisfied with the company?

• Yes □
• No □
Reason
specify_______________________________________________________
__

45

14. Do you know about HDFC SLIC’s recruitment policies related to financial
consultant?

• Yes □
• No □
15. Will you be interested to become financial consultant?

• Yes □
• No □

16. Would you like to earn an additional income through a business opportunity with
HDFC STANDARD LIFE?

• YES □
• NO □

17. If yes, how many hours in a week can you commit for this business opportunity?
 _________________________________________________________
_____________

Date:
Place: Signature

Thank You

46

BIBLIOGRAPHY

1.BOOKS AUTHORS
 Marketing Management (10th Edition) Philip Kotler
 Marketing Management (3rd Edition) V.S. Ramaswamy
 Research Methodology (2nd Edition) C.R.Kothary
 Research Methodology S.P. Kasande

2. NEWS PAPERS
 Times of India
 Financial Express

3. WEBSITES

 www.hdfcinsurance.com
 www.irda.com
 www.google.com
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