EXECUTIVE SUMMARY

During this project I fully realized this and come to know about the present real world of insurance. Since it include all the activities involved in selling insurance products directly to financial customers. I am pleased to know about the customers wants and various activities in the real world of insurance product. The Subject of my study is A STUDY OF HDFC SLIC. I have done this by applying various tools like Tele calling, and through direct interaction with customers.

INTRODUCTION TO INSURANCE
ORIGIN OF LIFE INSURANCE Life Assurance was born in England when the first policy providing temporary cover for a period of 12 months was issued as easy as 1583 A.D. The Amicable Society started granting fluctuating sum on death since 1705 and a fix sum since 1757, with the development of mortality tables, the life Assurance acquired a scientific character. The Equitable Society founded in 1762 was the first Society established on scientific basis. ORIGIN OF LIFE INSURANCE IN INDIA In India, after failure of to British companies, the European and the Albert in 1870, which attempted writing business on Indian lives, first Indian Life Assurance Society was formed in the same year called Bombay Mutual Assurance Society Limited. The Oriental Life Assurance Company Limited in 1874, Bharat in 1896 and Empire of India in 1897 followed it.

INTRODUCTION TO THE COMPANY

HDFC Standard Life Insurance Co. Ltd. is a joint venture between HDFC Ltd., India's largest housing finance institution and Standard Life Assurance Company, Europe's largest mutual life company. Standard Life, UK was founded in 1825 and has experience of over 180 years. Companies. The company is rated as "very strong" by Standard & Poor's (AA) and "excellent" by Moody's (Aa2).

HDFC WORK CULTURE

HDFC Standard Life Insurance is known for its stimulating environment with high levels of motivation, empowerment and recognition. They encourage an open and informal culture that values integrity, commitment, teamwork and excellence in customer service. They adopt a policy of strong learning and development initiatives, which promotes day-to-day learning as well as decision-making.

HDFC CORE VALUES

Integrity Innovation Customer centric People Care Teamwork One for all and all for one Joy and Simplicity

SWOT ANALYSIS OF HDFC

STRENGTH Brand power. Strong assets and infrastructure. Market share of 22.5%. WEAKNESS Awareness about private life insurance companies is very less. Still not very popular in rural market. Very few branches in the country. Lack of operational activities.

OPPORTUNITY: Liberalization of Indian economy. Life Insurance sector opening up. Very small percentage of population insured in India One of best products in the market. Global market opportunity. THREAT: Lack of proper technical knowledge among the mass. Apprehension towards HDFC Prudential being a private life insurance company. LIC: very big player. Change in government policy may affect the growth and expansion of the Insurance sector and the company

PRODUCTS OFFERED
HDFC Standard Life Insurance offers you a range of innovative life insurance plans. Through an appropriate combination of the basic plan and optional benefits, we can create the right insurance solution for you.

DIFFERENT PLANS AND THEIR BENEFITS Benefits Endowment Assurance Life Insurance + Savings + upto 4 optional benefits Money Back Life Insurance + Savings + upto 4 optional benefits Single Premium Whole Of Life Investment + Life Insurance Term assurance Life Insurance at an affordable price + upto 2 optional Benefits Loan Cover Term Assurance Life Insurance for loan cover protection + 1 optional benefit Personal Pension Plan Savings + Retirement Planning

INTRODUCTION TO IRDA
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 2007 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies. The other decision taken simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies was the launch of the IRDAs online service for issue and renewal of licenses to agents.

NEED OF THE STUDY

The study of this nature is being conducted on the behalf of HDFC STANDARD LIFE INSURANCE pvt. Ltd. A high level of competition entering the insurance sector companies need to catch up with the ever changing demands of the industry. The study is being conducted to get an edge over other life insurance houses in insurance industry. It is also done in order to know how much knowledge and the money the consumers contribute in the life insurance schemes. The study will help to know the interest and preferences of the customers. This project report may help the company to make further planning and strategy.

OBJECTIVE OF THE STUDY

The objective of the study is to study the insurance policies and activities in HDFC SLC with special emphasis on products of the company. This project involved the study of: Working of Insurance Plans SWOT analysis of the product sold Comparative study with the competitors To know the perception and conception of customers towards Insurance products To explore the potential areas for the insurance and providing best offers and constant promotion and placing strategy.

LIMITATION
The geographical area was very much limited to residential area & so the results are not particularly reflection of the current behavior. Biases and non-cooperation of the respondents. Due to limited time period and constrained working hours for most of the respondents, the answers at times were vague enough to be ignored. Most of the people in India take their policies in the period preceding March(for tax saving purposes) & so the response to initial contacts were not all encouraging and that has been the primary reason in the inability to quantify the results large enough so as to deduce any relevant outcomes. People are not interested in giving personal opinion.

RESEARCH METHODOLOGY
Sources of data collection: The data has been collected through filling up of the questionnaire from different companys managers and financial consultants and interviewing them about their various options of investments. Primary data collected from these managers and financial consultants only. This is first hand data. This is gauged by personally conducting interviews, observation and by means of questionnaire.

Secondary data was collected from Internet, Company documents, Newspaper and Magazines. Sampling: Random selection of people was made on whom survey was conducted. It was also collected through personal visits to persons, by formal and informal talks and through filing up the questionnaire prepared.

Sample size: The sample size of people is limited to 100 people only.
Tools and techniques of analysis: Various tools have been used in this research: Tables. Pie charts. Bar diagrams. Percentage method has been used to analyze the data.

DATA ANALYSIS & INTERPRETATION

.Respondants having life insurance from HDFC Standard Life Insurance.

Yes No

11% 89%

Sources of information
Electronic media 35 % Print media 40 % Agents 23 % Friends 2%

. Whom do you consult while taking financial decision?

Colleagues Family Friends Investment relationship manager 20% 22% 29% 29%

Govt. life insurance policies are much more secured than their private counterparts.
Yes No 92% 8%

RECOMMENDATIONS
More emphasis should be on promotional activities. Plenty of advertisement should be done through T.V, Newspaper and Radio as these medias are having maximum recall value. Total financial planning and advice should be given to every customer. More business opportunity seminars should be conducted to make people aware of the offer given. The company should quite frequently send their agent to the customer so that they should be aware of the latest offer. The company should attempt to open more and more of its branches in the country so as to promote their product publicity.

CONCLUSION
LIC enjoys credibility over other private players in the industry People look for security over returns in market insurance plans Lifetime is the most popular product among the people who are aware about HDFC SLC products. People are now showing more interest in ULIP as compared to some of the traditional plans. HDFC SLC has to counter the distribution network of LIC The product profile of HDFC SLC is not very comprehensive

BIBLIOGRAPHY
http:// www.hdfcstandardlife insurance.com http:// www.standardlife.com http://www.hdfc.com http://www.sebi.com http://www.nse.com India Today (27th MAY2010) The Times of India (16thMAY2010) Brunch(16th July 2010)

QUESTIONNAIRE
The questionnaire is designed to seek information for the execution of the above stated research project. I shall feel extremely grateful if you could kindly fill up the questionnaire at ease after thorough reading.

Q1.Do you have a life insurance policy from HDFC Standard Life Insurance? a) Yes [ ] b) No []
Q2.If yes, which policy have you taken? Endowment policy Children Policy

Money Bank Policy

Pension Plan

Team Assurance Policy

Singe Premium Plans

3. How do you come to know about this policy? Electronic Media Agents Print Media Friend 4. Do you go through all the details of the policy that you choose? Yes No

5. What according to you is the most important reason for getting insured? (Give rank 1 to 4: 1 for the lowest & 4 for the highest). Returns Savings Tax Benefit Risk coverage

6. How much of your annual income would you like to invest in life insurance? Up to 2,500 5,000-20,000 2,500-5,000 20,000-above

7. What factors would you consider when thinking about the amount of life insurance? Benefits of the plan Liquidity Positio Future needs Monthly Income
8. Are you satisfied with the incentives associated with your policy? a) Highly satisfied [ ]. b) Satisfied [] c) Moderate [] d) Unsatisfied [ ] e) Highly Unsatisfied [ ].