Project Report

Shri Siddhi Vinayak Institute Of Management

Project Report

On

Comparative Study of LIC and HDFC Life Insurance

Session : 2014-15

PREFACE

The Indian industry is making its mark in the world economy with the coming of globalization the export opportunity increase for the industries. For exporting the industry most develop well at the grass level first. It is possible only when the company has good professionals who can guide the company well in the complex business environment. But good professionals can be obtained only when they are trained both theoretically & practically.The students are taught theory in the colleges but practical knowledge can be obtained only by visiting the industries and gaining knowledge by actually seeing them working in the company. The students when trained will help the company to grow. A well trained professional understands the values of team and will make a good team and take the company to its highest prosperity stage.

Through this Marketing report I express my sincere gratitude through all those people who helped me in the preparation of this project which really has been a great enlightening and a learning experience for me.

This project gives a deep prospective and outlook about the company which has been compiled by handwork, devotion, dedication and deep study of the available.

INDEX

Scope/Objective of my study

Life Insurance

About IRDA

Company Profile

Individual Products Research Methodology Appendices-Questionnaire Analysis and Interpretation

Evaluation of Customers Services

Limitation of the study

Findings

Recommendation

ConclusionSCOPE

The scope of the present report is limited to the "Evaluation of Customer's Services in HDFC SLIC" and LIC The findings are based solely on primary data gathered by interviewing the Financial Consultants, the Sales Development Manager of the 'firm and few executive of the firm, besides data obtained from, office records and other office journals. This project report has been divided into different chapters and contains different perspective and information about Insurance Companies.

Information collected by the survey conducted for the consumer preference of at random samples. Thus, the primary data secondary data both have provided the basis for completing of his report.OBJECTIVES OF THE STUDY

To know about the sales policy.

Motivational enhancement tools being followed by the company

To identify the peak sale period of the year.

Co-operation level extended from the company's side.

To study the consumer response toward~ the quality of policy To study the need of product to the consumer

To identify the schemes offered by the company to there consumers.

About Life Insurance

Insurance Business

What is Life Insurance?

Origin Of Life Insurance

Myth Busters

Need For Life Insurance

Roles Of Life Insurance

Types Of Life Insurance

INSURANCE BUSINESS

Insurance business is divided into four classes:1) Life Insurance 2) Fire Insurance 3) Marine Insurance and 4) Miscellaneous Insurance. Life Insurers transact life insurance business; General Insurers transact the rest.

No composites are permitted as per law.LEGISLATION (as on 1.4.2000):

Insurance is a federal 'subject in India. The primary legislation that deals with insurance business in India is:Insurance Act, 1938, and Insurance Regulatory & Development Authority Act, 1999

INSURANCE PRODUCTS (as on 1.4.2000) (for latest information get in touch with the current insurers-website information of insurers in provided at the web page for insurers):

Life Insurance:Popular Products: Endowment Assurance (participating) and Money Back (participating). More than 80% of the life insurance business is form these products.

General Insurance:

Fire and Miscellaneous insurance businesses are predominant Motor Vehicle insurance in compulsory.

Tariff Advisory committee (T AC) lays down tariff rates for some of the general insurance products (please visit website of GIC for details)

2001

New products have been launched by life insurers. These include linked-products. For details, please visit the websites of life insurers.

INFORMATION

About the insurance industry, the following documents may be helpful:

Malhotra Committee Report (The Report of the Committee on Reforms in the Insurance Sector);

IRDA's First Annual Report - 2001

CUSTOMER PROTECTION:Insurance industry has Ombudsmen in 12 cities. Each Ombudsman is empowered to redress customer grievances in respect of contracts on personal lines where the insured amount is less than Rs.20 lakhs, in accordance with the Ombudsman Scheme. Addresses can be obtained from the offices of LIC and other insurers.

"What is Life Insurance?"Life insurance is a contract between you and a life insurance company, which provides your beneficiary with a pre-determined amount in case of your death during the contract term.Buying insurance is extremely useful if you are the principal earning member in the Family. In case of your unfortunate premature demise, your family can remain financially secure because of the life insurance policy that you have purchased.

The primary purpose of life insurance is therefore protection of the family in the event of death. Today, insurance is also seen as a tool to plan effectively for your future years, your retirement, and for your children's future needs. Today, the market offers insurance plans that not just cover your life and but at the same time grow your wealth too.Origin of Life Insurance

The story so far...

Almost 4,500 years ago, in the ancient land of Babylonia, traders used to bear risk of the caravan trade by giving loans that had to be later repaid with interest when the goods arrived safely. In 2100 BC, the Code of HaIiunurabi granted legal status to the practice. That, perhaps, was how insurance made its beginning.

Life insurance had its origins in ancient Rome; where citizens formed burial dubs that world meet the funeral expensed of its members as well as help survivors by making some payments.

As European civilization progressed, its social institutions and welfare practices also got more and refined. With the discovery of new lands, sea routes and the consequent Growth in trade, medieval guilds took it upon themselves to protect their member traders from loss on account of fire, shipwrecks and the like.

Since most of the trade took place by sea, there was also the fear of pirates. So these guilds even offered ransom for members held captive by pirates. Burial expenses and support in times of sickness and poverty were other services offered. Essentially, all these revolved around the concept of insurance or risk coverage. That's how old'these concepts are really.

In 1347, in Genoa, European maritime nations entered into the earliest known insurance contract and decided to accept marine insurance as a practice.

The first step....

Insurance as we know it today owes its existence to 17th century England. In fact, it began taking shape in 1688 at a rather interesting place called Lloyd's Coffee House in London, where merchants, ship-owners and underwriters met to discuss and transact business. By the end of the 18th century, Lloyd's had brewed business to become one of the first modern insurance companies.'

Insurance and Myth...

Back to the 17th century. In 1693, astronomer Edmond Halley constructed the first mortality table to provide a link between the life insurance premium and the average life spans based on statistical laws of mortality and compound interest. In 1756, Joseph Dodson reworked the table, linking premium rate to age.

Enter companies...

The first stock companies to get into the business of insurance were chartered in England

In 1720. The year 1735 saw the birth of the first insurance company in the American colonies in Charleston, SC.

In 1759 the Presbyterian Synod of Philadelphia sponsored the fist life insurance Corporation in America for the benefit of ministers and their dependents.

However, it was after 1840 that life insurance really took off in a big way. The trigger: reducing opposition from religious groups.

The growing years...The 19th century saw huge developments in the field of insurance, with newest products being devised to meet the growing needs of urbanization and industrialization.

In 1835, the infamous~ New York fire drew people's attention to the need to provide for sudden and large losses. Two years later, Massachusetts became the first state to require companies by law to maintain such reserves. The great Chicago fire of 1871 further emphasized how fire:3 can cause huge losses in densely populated modern cities. The practice of reinsurances, wherein the risks are spread among several companies, was devised specifically for such situations.

There were more offshoots of the process of industrialization. In 1897, the British government passed the Workmen's Compensation Act, which made it mandatory for a company to insure its employees against industrial accidents.

With the advent of the automobile, public liability insurance. Which first made its appearance in the 1880s, gained importance and acceptance?

In the 19th century, many societies were founded to insure the life and health of their members, while fraternal orders provided low-cost, members-only insurance.

Even today, such fraternal orders continue to provide insurance coverage to members as do most labour organization. Many employers sponsor group insurance policies for their employees, providing not just life insurance, but sickness and accident benefits a.'1d old age pensions. Employees contribute a certain percentage of the premium for these policies.

In India...

Insurance in India can be traced back to the Vedas. For instance, yogakshema, the name of life Insurance Corporation of Indias corporate headquarters, is derived from the Rig-Veda. The tell) suggests that a from of "community insurance" was prevalent around 1000BCand practiced by the Aryans.

Burial societies of the kind found in ancient Rome were formed in the Buddhist period to help families build houses, protect widows and children.

Bombay Mutual Assurance Society, the first Indian life assurance society, was formed in 1870.0ther companies like Oriental, Bharat and Empire of India were also set up in the 1870-90s.

It was during the Swedish movement in the early 20th century that insurance witnessed a big boom in India with several more companies beignet up.

As these companies grew, the government began to exercise control on them. The Insurance Act was passed in 1912, followed by a detailed and amended Insurance Act of 1938 that looked into-investments expenditure and management. of these companies' fund.

By the mid-1950s, there were around 170 insurance companies and 80 provident fund societies in the country's life insurance scene. However, in the absence of regulatory systems, scams and irregularities were almost a way of life at most of these companies.

As a result, the government decided nationalizes the life assurance business in India. The Life Insurance Corporation of India was set up 1956 to take over around 250 life companies.For year thereafter, insurance remained a monopoly of the public sector. It was only after seven years of deliberation and debate-after the RN Malhotra Committee report of 1994 become the first serious document calling for the reopening up of the insurance sector to private players-that the sector was finally opened up to private players in 2001.

The Insurance Regulatory & Development Authority, an autonomous insurance regulator set up 2000, has extensive powers to oversee the insurance business and regulate in a manner that will safeguard the interests of the insured.Need For Life Insurance

Risks and Uncertainties are part of life's great adventure - accident, illness, theft, natural disaster-they're all built into the working of Universe, waiting to happen.Insurance then is man's answer to the vagaries of life. If you cannot beat man - made and natural calamities, well, at least be prepared for them and their aftermath.

Insurance is a contract between two parties - the insurer (the insurance company) and the insured (the person or entity seeking the cover)- wherein the insurer agrees to pay the insured for financial losses arising out of any unforeseen events in return for a regular payment of "premium" .

These unforeseen events are defined as "risk" and that is why insurance is called a risk Cover.

Hence, insurance is essentially the means to financially compensate for losses that life throws at people - corporate and otherwise.ABOUT HDFSLICHDFCSLIC stands for Housing Development Finance corporation standard life insurance company. It is incorporated in 1977 as a public limited company with the specialization in provision of housing finance to individuals cooperative societies and the corporate sector. One significant matter about the HDFC is that it is first private sector retail housing finance company and it is listed on both BSE and NSE. Its market capitalization in June 2002.

Standard life insurance is founded in 1825. Standard life was reincorporated as a mutual assurance company in 1925. Its largest mutual life insurance company in Europe.

For the joint venture between HDFC and SLIC, the discussion commenced in January 1995 and the agreement signed in October 1995. Further joint venture agreement renewed in October 1998. In January 2000 the life insurance project teem established in Mumbai. At last the company officially incorporated in 14th August 2000. It is the matter of great happiness for HDFCSLIC is that it is the first private sector life insurance company to be granted a certificate of registration in 23rd October, 2000. Today 75% shareholding in the hand of HDFC and Standard life has 25% shareholding in this joint venture.

COMPANY PROFILE

When we talk about company profile then HDFC standard life insurance company is targeting insurance sector. It is launching various type of insurance plan and product which is enticing people to buy its plan. As a insurance company it focus mainly in the recruitment of financial consultant and the whole company based on it because the main aim of company is to get business and sell lots number of policy and this work is done by financial consultant.

HDFC Standard Life Vision and Values

Vision of HDFCSL

The most successful and admired life insurance company, which mean that we are the most trusted company, the easiest to deal with, offer the best value for money, and set the standards in the industry. In short, The most obvious choice for all

For retention in the market and highest market share, we need trust of our customer. The customer should trust on our policies, services, employs and they should be friendly with us. It wants to live in the eye and heart of the customer. It wants to give them the easiest deal so that they can be understood the terms and policies. As we know that profit is the main aim of any business but it think not only about his profit but also profit of the customer. It wants to be the choice of all people on the basis of trust of customer, delivering high value to the customer, and deliver Of best value of the money.

Value that will be observed while we work with HDFCSL

1. Integrity

HDFCSL believes in honest and trustfulness in every action. Transparency in dealing with customers. It is stick to principles irrespective of outcome. When we work in HDFCSL then we observed that its rules and activity of every person in the organization is just and fair to every one.

Integrity is the bedrock on which the company and the expectations of the customers and employees are built. Integrity gives inner feeling to both customer and the employees to work with it. It establishes the credibility of the person, defines the character and empowers one to do justice to the job. It enables confidence and trust, achieving transparency and laying a strong foundation for a binding relationship. It guide principle for all walks of life.

2. Innovation

It is the process of building a store house of treasures through experiences. Lots of product is going to be launched by the competitors. So it is very important to look every product and process through fresh eyes everyday. It is the significant part of the business that attracts customer.

Innovation is essential to exceed customer expectation and maximize customer retention because it is the sector of investment so you need to fulfill the customer expectation which help you to retain customer. Innovation helps to achieve competitive advantage. It promotes growth and upgrade standards in the industry. It fosters creativity amongst employees and partners. It opens a world of new possibilities because it brings new concept which helps to entice the customer.

3. Customer centric

Customer becomes the main properties of any organization. Whatever work done by the organization runs around the expectations of the customer. Customer becomes centre point of the organization and the main focus of the organization becomes to understand his expectations by keeping him as the centre point. It gives more focus on customer activity and saying. It tries to understand customer needs and deliver solutions. As we know that the market is changed. Lots of competitors is here who search chance to increase their market share and entice your customer so customer interest become always supreme.

4. People CareGenuinely try to understand those people who are working with HDFCSL. It guides their development through training and support. It helps them to develop their requisite their skills so that they can reach their true potential. It tries to know them on a personal front because it works as a performance appraisal. It try to create an environment of trust and openness so that all people who are working here behave friendly and helps to each other because team work is most important for getting success and give respect for the time of others.

People are the most valuable assets of the company so it tries to motivate individual to give his/her best. It wants to establish a valuable relationship with them to create a joyful working environment. The most important thing is that it tries to provide job satisfaction for their people.

5. Team work One for all and all for one

Here whole team takes the ownership of the deliverables. It consults all involved in the work and try to understand their opinion and then arrive ant a common objective. There is a cooperation and support across departmental boundaries. It identifies strengths and weaknesses accordingly allocate responsibility to achieve common objectives.

Team work helps everyone to achieve more. it adds joy at work place which add interest in the work and new stamina in the work. It generates synergy and provides a focused approach. When an idea or activity performed in a group, it has greater acceptability. Team work proves one for all and all for one.

6. Joy and simplicity

It believes in joy and simplicity so that people in the organization will be more dedicated towards work and they will give more business to the organization. Work with joy and simplicity brings creativity and new imagination which also brings new innovative ideas that promote competitive advantage to the organization.

Life Stage Structure

HDFCSLIC have divided our whole life into four stages and describe above the different needs of our different stage. It all insurance plan are based upon these states and it tried to fulfill all the requirement of all the need of each stages of life through endowment plan, young star plan , retirement plus plan, and pension plus plan.

India's best Ulips (Sunil Dhawan, Outlook Money)January 03, 2008

We have toyed with the idea for a long time. Should we rank the unit-linked insurance plans (Ulips) in the market? The idea is exciting simply because it has never been done in India before.The idea is good because it allows an investor a handle with which to hold the product. Also, the idea is very daunting because comparing insurance policies is like trying to unravel a noodle soup. The more you stir, the more complicated it looks After discussing with the regulator, some industry leaders and those close to the insurance sector, Outlook Money decided to bite the bullet and get on with the ranking. This is where we realized what an overwhelming task we had taken on. Just comparing the return figure, as given by net asset value data, would be incorrect since a financial product is a function of cost and return. The minute we bring in costs, comparisons became almost impossible to carry out. Unlike the mutual fund product that has a very simple cost structure, Ulips carry a greater number of costs (administration and mortality), in addition to the others.

To cut through the confusion and yet be relevant to you, we took illustrations from all 14 life insurance companies for their Ulips for ages 30 and 45. We assumed that a 30-year-old was taking a 20-year policy for an SA of Rs 12.5 lakh, paying an annual premium of Rs 50,000. And a 45-year-old was taking a 10-year policy for an SA of Rs 7.5 lakh with the same premium (see How We Did It). Premiums are paid throughout the term. We also assumed that only the growth, or the fund with up to 100 per cent equity allocation, is chosen. Left with only nine companies, we looked at Type-I and Type-II policies. A Type-I policy just gives the higher of the sum assured or the fund value, making the policy buyer extremely vulnerable to a small corpus in case of an untimely death in the early part of the plan. A Type-II policy gives both the sum assured and the fund value, and sure, it costs more too.

RESULT

The winner in the Type-I category is Tata AIG Life's Invest Assure II, which has scored primarily because its one-year return, at 72 per cent, was way above the benchmark return of 53 per cent of the BSE Sensex. This despite the fact that it has a fund management charge of 1.75 per cent, more than double the 0.8 per cent that HDFC Standard Life charges. In fact, HDFC Standard Life has done very well on the cost parameter.

The insurer is clearly the lowest cost one in our examples, but has lost out due to underperformance over the time period. At returns of 42.7 per cent, HDFC Standard Life has underperformed the benchmark by about 10 percentage points. In fact, Tata and Bharti have outperformed the index by 10 percentage points or more. Four companies were unable to beat the benchmark over a one-year period. In Type-II policies, there is much less competition, with just six companies in the fray. Kotak Life's Platinum Advantage is the winner and has a nice mix of lower costs and decent returns. It has consistently outperformed the benchmark.

Early exit options-

The Ulip product works over the long term. The earlier the exit, the worse off is the investor since he ends up redeeming a high-front-load product and is then encouraged to move into another higher cost product at that stage. An early exit also takes away the benefit of compounding from him.

An early exit option in a unit-linked plan shows how the product is structured. We found many products that clearly encouraged product churn by giving too many zero cost options to get out of the policy after the mandatory holding period was over. There are others, like the plans from MetLife, which encourage a longer holding term.

Creeping costs-

Since the investors are now more aware than before and have begun to ask for costs, some companies have found a way to answer that without disclosing too much. People are now asking how much of the premium will go to work. There are plans that are able to say 92 per cent will be invested, that is, will have a front load of just 8 per cent. What they do not say is the much higher policy administration cost that is tucked away inside (adjusted from the fund value). While most insurance companies charge an annual fee of about Rs 600 as administration costs, that stay fixed over time, there are plans that charge this amount, but it grows by as much as 5 per cent a year over time. There are others that charge a multiple of this amount and that too grows.

IRDA (Insurance Regulatory and Development Authority)

The Government of India has enacted the Right to Information Act, 2005 which has come into effect from October 13, 2005. The Right to Information under this Act is meant to give to the citizens of India access to information under control of public authorities to promote transparency and accountability in these organizations. The Act, under Sections 8 and 9, provides for certain categories of information to be exempt from disclosure. The Insurance Regulatory and Development Authority (IRDA) is a public authority as defined in the Right to Information Act, 2005. As such, the Insurance Regulatory and Development Authority is obliged to provide information to members of public in accordance with the provisions of the saidAct.

Myth BustersWhat you should know about Life Insurance....

Myth 1: Insurance is for tax saving

There's always this rush to buy insurance policies towards the end of the financial year. Making one wonder if the tax-saving purpose of life insurance has not overshadowed its other roles.Yes, the tax benefits associated with life insurance policies do help make the-investment more attractive. The Public Provident Fund also offers the 20% tax rebate under section 88 of the Income Tax Act, 1961, as do small saving schemes like post office deposits and national saving certificates. You may also avail of Tax benefits under section 80CCC with certain plans. And there are other investment options that give you higher returns than insurance. But these don't offer you security, the risk cover that helps you overcome the uncertainties of life. The primary function of life insurance is to cover you against financial losses arising out of sudden death or disability. It also offers returns and tax saving. Life insurance, as an instrument, is hence a good marriage of risk cover, returns and tax benefits.

Myth 2: Insurance does not give good returns

Insurance is different from routine investment options. A fixed deposit or even a National Saving Certificate may apparently fetch more returns than a life insurance policy. But that's not a fair straight-line comparison.If monetary returns are evaluated in isolation, a fixed deposit (FD) offering 9.5% might look very good in this depressed market. But insurance offers other benefits along with returns.Look at security for instance. If you invest in an FD and happen to die, your nominee can claim only the amount of the FD. If you live, you will get back the sum of the FD with the desired interest.

Compare this to a life insurance policy. For a sum of Rs,.5,000 invested in a FD, you would get the same amount at the end of the year whereas for a small insurance premium of say Rs 5,000 per annum. You could buy yourself a cover of around Rs 50, OOOto Rs 2lakh depending on your age and type of policy. If you happen to die during the tenure of the policy, your family members would get Rs. 50,000to Rs. 2 lakh as benefit. In case you life, you will get back the entire sum assured with maybe a decent return.

Evaluate the two options. For a small "national loss", in returns, you are running the risk of leaving your loved ones uncared for if something happened to you. On the other hand, with an insurance policy, peace of mind will never be an issue. That's something money can seldom buy.Role of life InsuranceRisks and uncertainties are part of life's great adventure-accident, i11ness, theft, natural Disaster-they're all built into the working of the universe, waiting to happen.

Role 1: Life insurance as "Investment"

Insurance is an attractive option for investment. While most people recognize the risk-hedging and tax saving potential of insurance, many are not aware of its advantages as an investment option as well. Insurai1ce products yield more compared to regular investment options, and this is besides the added incentives (read bonuses) offered by insurers.

You cannot compare an insurance product with other investment schemes for the simple reason that it offers financial protection from risks, something that is missing in non-insurance products.

In fact, the premium you pay for an insurance policy is an investment; against risk. Thus, before comparing with other schemes, you must accept that a part of the total amount

Invested in life insurance goes towards providing for the risk cover, while the rest is used for savings.

In life insurance, unlike non - life products, you get maturity benefits on survival at the end of the term. In other words, if you take a life insurance policy for 20 years and survive the term, the amount invested as premium in the policy will come back to you with added returns. In the unfortunate event of death within the tenure of the policy the family of the deceased will receive the sum assured.'

Now, let us compare ~insurance as investment options. If you invest Rs 10,000 in PPF, your money grows to Rs 10,950 at 9.5% interest over a year. But in this case, the access to your funds will limit. One can withdraw 50% of the initial deposit only after 4 years.The same amount of Rs 10,000 can give you an insurance cover of up to approximately Rs 5-12 lakh (depending upon the plan, age and medical condition of the life insured, etc) and this amount can become immediately available to the nominee of the policyholder on death.

Thus insurance is a unique investment avenue that delivers sound returns in addition to protection.

Role 2: Life insurance as "Risk Cover"

First and foremost, insurance is about risk cover and protection - financial protection, to be more precise - to help outlast life's unpredictable losses. Designed to safeguard against losses suffered on account of any unforeseen event, insurance provides you with that unique sense of security that no other form of investment provides. By buying life insurance, you buy peace of mind and are prepared to face any financial demand that would hit the family in case of an untimely demise.

To provide such protection, insurance firms collect contributions from many people who face the same risk. A loss claim is paid out of the total premium collected by the insurance companies, who act as trustees to the monies.

Insurance also provides a safeguard in the case of accidents or a drop in income after retirement. An accident of disability can be devastating, and an insurance policy can lend timely support to the family in such times. It also comes as a great help when you retire, in case no untoward incident happens during the term of the policy.

With the entry of private sector players in insurance, you have a wide range of products and services to choose from. Further, many of these can be further customized to fit individual/group specific needs. Considering the amount you have to pay now, it's worth buying some extra sleep.Role 3: Life insurance as "Tax Planning"Insurance serves as an excellent tax saving mechanism too. The Government of India has offered tax incentives to life insurance products in order to fa9ilitate the flow of funds into productive assets. Under Section 80C of Income Tax Act 1961, an individual is entitled to a rebate of20per cent on the annual premium payable on his/her life and life of his /her children or adult children. The rebate is deductible from tax payable by the individual or a Hindu Undivided Family. Review amount up to Rs. 1 lakh is deducted from given income.

Types of Life Insurance Term Insurance policy

Whole Life Policy Endowment Policy Money Back Policy Annuities And Pension

Most of the products offered by Indian life insurers are developed and structured around these "basic" policies and are usually an extension or a combination of these policies. So, what are these policies and how do they differ from each other?Term Insurance Policy A term insurance policy is a pure risk cover for a specified period of timed. What this means is that the assured is payable only if the policyholder dies within the policy term. For instance, if a person buys Rs 2 lakh policy for IS-years~ his family entitled to the money if he dies within that 15-year period. What if he survives the IS-year period? Well, then he is not entitled to any payment; the insurance company keeps the entire premium paid during the 15-years period.So, there is no element of saving or investment in such a policy. It is 100 percent risk cover. It simply means that a person pays a certain premium to protect his family against his sudden death. He forfeits the amount if he outlives the period of the policy. This explains why the Term Insurance policy comes at the lowest cost.

Whole Life Policy As the name suggests, a Whole Life Policy is an insurance cover against death, irrespective of when it happens. Under this plan, the policyholder pays regular premium until his death, following which the money is handed over to his family.

This Policy, However, fails to address the additional needs of the insured during his postretirement years. It doesn't take into account a person's increasing needs either. While the insured buys the policy at a Young age, his requirements increase over time. By the time he dies, the value of the sum assured is too low to meet his family's needs. As a result of these drawbacks, insurance firms now offer either modified.

Whole Life Policy or combine in with another type of policyEndowment PolicyCombining risk cover with financial saving, endowment policies is the most popular policies in the world of life insurance. In an Endowment Policy, the sum assured is payable even if the insured survives the policy term. If the insured dies during the tenure of the policy, the insurance firm has to pay the sum assured just as any other pure risk cover. A pure endowment policy is also a form of financial saving, where by if the person covered remains alive beyond the tenure of the policy, he gets back the sum assured with some other investment benefits.In addition to the basic policy, insurers offer various benefits such as double endowment and marriage/education endowment plans. The cost of such a policy is slightly higher but worth its value.Money Back Policy These policies are structured to provide sums required as anticipated expenses (marriage, education, etc) over a stipulated period of time. With inflation becoming a big issue, companies have realized that sometimes the money value of the policy is eroded. That is why with - profit policies are being introduced to offset some of the losses incurred on account of inflation. A portion of the sum assured is payable at regular intervals. On survival the remainder of the sum assured is payable. In the case of death, the full sum assured is payable to the insured.The premium is payable for a particular period of time.Annuities and PensionIn an annuity, the insured agreed to pay the insured stipulated sum of money periodically. The purpose of an annuity is to protect against risk as well as provide money in the form of pension at regular intervals.ABOUT IRDA What is IRDA

Notification

Composition of authority under IRDA Act 1999

Duties, Power and Functions of IRDA Mission

Address for CommunicationWHAT IS IRDA?

The IRDA (protection of policyholders' interests) Regulation, 2002 with the vast area of rights of investors starting with the rights to obtain a copy of the ProP9sal, the free look in period in respect of the life policies, a copy of the concluded policy to be furnished to the client and also the obligations of the insurance company regarding servicing and ex (ending of the policy, payment of interest in case of delay settlement of the policy claims, etc.The regulations also prescribe a procedure for settlement of the grievances including the appointments of the Insurance Ombudsman at specific centers in India. In addition to this, the IRDA Act empowers Authority to look into the settlement of the grievances and in cases where the policyholders' approach the Authority directly; the Authority often intervenes with the insurers for the protection of their rights.HDFC Standard LifeThe Partnership:

HDFC and standard Life first came together for a possible joint venture, to enter the Life Insurance market, in January 1995. It was clear from the outset that both companies shared similar values and belief and a strong relationship quickly funned. In October 1995 the companies signed a 3 year joint venture agreement.

In October 1998, the joint venture agreement was renewed and additional resource made available. Around this time Standard Life purchased 2% of Infrastructure Development Finance Company Ltd.(IDFC). Standard Life also started to use the services of the HDFC Treasury department to advise them upon their investments in India.

Towards the end of 1999, the opening of the market looked very promising and both companies agreed the time was right to move the operation to the next level. Therefore, in January 2000 an expert team from the UK joined a hand picked' team from HDFC to from the core project team, based in Mumbai.

In a further development Standard Life agreed to participate in the Asset Management Company promoted by HDFC to enter the mutual fund market. The Mutual Fund was launched on 20th July 2000.

Organization Structure of HDFC SLIC

Sales Department Structure of HDFC SLIC

Unit Structure of HDFC SLIC in Bareilly

Growth RatePremium Income grows by 112%

HDFC Standard Life has recorded a strong year on year growth of 112% for the period April-March 2005-06, in comparison with same period 2004-05, with new business first year premium of Rs.l 029 crores. The growth achieved by the company was considerably higher than the private sector industry average of 84% for 2005-06. In terms of effective premium income (EPI), which gives a 10% value to Single Premium policy, and is an internationally accepted indicator of an insurance company's performance, the EPI grew by 103% from Rs.436 Cr. to Rs.887Cr.HDFC Standard Life's growth in new business a result of number of lives insured as well as, in increase in the average premium. For the individual business, volume measured by the number of lives insured, witnessed a 32%.The average premium also increased by 62% from Rs.17000 in 2004-05 to Rs.27,500 in 2005-06.

Commenting on the huge potential that exists in the Indian market today, Mr. Deepak Satwalekar, Managing Director & CEO of HDFC Standard Life emphasized, "The GDP has been growing over 8% per annum and 47% of all saving are now in financial saving form; 16% of saving is in the form of insurance premiums and another 16% is in . Provident Fund and Pensions 32% of India's financial saving of the household sector are available to be tapped. Therefore, growth for the private life insurance industry in inevitable and HDFC Standard Life is confident of maintaining a steady growth pace."

Highlighting HDFC Standard Life's has the most competitive fund management charge, which is the lowest in equity based products. Our fund management charge is as low as 8% per annum, the key to enhancing long-term returns. Our other differentiator is that we believe in offering life insurance solutions to customers based clearly on their needs, and 'Disha' is the way it is done.

'Disha' is a Professional Sales Skills Training Program. The delegates in this program are introduced to a 'Need-based' selling approach, which can cater to all our clients opting for life insurance solutions. 'Disha' is aimed at providing a good service to the client and building long-term relationships..

Contribution to the individual business premium income by the different channels of distribution also changed significantly, compared to last year. The Corporate Agency and Banc assurance channel has grown tremendously and currently accounts for 43% of the company's business. Speaking on this, Mr. Satwalekar said, "The strategy to concentrate on activating a limited number of bancasurance partners rather than gong for signing up a large number of banks in the early years, also paid off. Our key to achieving bancassurance success is our belief in a partnership approach, customized product offering, highly ethical dealings and providing good value to our partners and their customers."HDFC Standard Lifes offering of Employee Benefit Solutions, to the corporate sector, Through Group Business, have met with increased success with year on year growth of 174%. Commenting on the strong growth of HDFC SLs Group Business, Mr. Satwalekar said, Our excellent fund performance on retirement products and increase in our client base with 150 clients cutting across spectrum of industries spanning fromFinancial Strength Our 6th Successive Bonus Declaration. We are pleased to announce our Sixth Successive Reversionary Bonus for the year from 1 April 2005 to 31 March 2006. This bonus declaration will benefit all 'With Profits' customers who have paid all premiums in full when due.

First year premium of Rs.I 029 crores. The growth achieved by the company was considerably higher than the private sector industry average of 84% for 2005-06. In terms of effective premium income (EPI), which gives a 10% value to a Single Premium policy, and is an internationally accepted indicator of an insurance company's performance, the EPI grew by 103% from Rs.436Cr. to Rs.887Cr.HDFC Standard Life's growth in new business is a result of number of lives insured as well as, an increase in the average premium. For the individual business, volume measured by the number of lives insured, witnessed a 32% growth. The average premium also increased by 62% from Rs.17, 000 in 2004-05 to Rs.27, 500 in 2005-06.Commenting on the huge potential that exists in the Indian market today, Mr. Deepak Satwalekar, Managing Director & CEO of HDFC Standard Life emphasized, "The GDP has been growing over 8% per annum and 47% of all savings are now in financial saving form; 16% of saving is in the form of insurance premiums and another 16% is in Provident Fund and Pension 32% of India's financial saving of the household sector are available to be tapped. Therefore growth for the private life insurance industry in inevitable and HDFC Standard Life is confident of maintaining a steady growth pace."

Highlighting HDFC Standard Life's has the most competitive fund management charge is as low as 0.8% per annum, the key to enhancing long-term returns. Our other differentiator is that we believe in offering life insurance solutions to customers based clearly on their needs, and 'Disha' is the way it is done."

'Disha' is a Professional Sales Skills Training Program. The delegates in this program are introduced to a 'Need- based' selling approach, which can cater to all our clients opting for life insurance solution. 'Disha' is aimed at providing a good service to the client and building long-term relationships.

Contribution to the individual business premium income by the different channels of distribution also changed significantly, compared to last year. The Corporate Agency and Bancassurance channel has growth tremendously and currently accounts for 43% of the company's business. Speaking on this, Mr. Satwalekar said, "The strategy to concentrate on activating a limited number of bancasurance partners rather then going in for signing up a large number of banks in the early years, also paid off. Our key to achieving bancassurance success is our belief in a partnership approach, customized product your family counts on you every day for financial support: food, shelter transportation, education and much more. Insurance 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.

Life insurance is all about making sure your family has adequate financial resources to make those plans and dreams come true. It provides financial protection to help your family or business to manage after your death..

Policy TypePolicy TermSub AssuredPremiumReverslonary Bonus @ 22.50 Per thousand Sum Assured)

Endowment

Assurance

Plan25 yearsRs. 2,00000Rs. 7,634Rs. 4,500

Once added to your policy, this Bonus is guaranteed to be payable at maturity, For Single Premium Whole of Life Policies, Which do not maturity date, this bonus is guaranteed to be paid on selected future policy anniversaries.

For all our with profit plans, the influence of our reversionary bonus declaration on the death benefit is governed by the policy wording under each plan.

We calculate this bonus keeping in mind a long-term view of investment returns, expenses, fortuity and other experience elements.

Interim

If a maturity claim or death claim is made before the next planned reversionary bonus declaration, we will add an interim Bonus to your policy.

All policies where such claims have occurred do not participate in the next reversionary bonus declaration. Therefore, we add an interim Bonus to give you or your nominee a fair share of bonus earned over the next financial year from 1 April 2006 to the Date of claim.

For all our with profit plans, the influence of our interim bonus declaration the death benefit is governed by the policy wording under each plan.

Terminal Bonus:

This bonus is sometimes added to a policy on maturity and allows us to pay the fair share of the 'With Profits' fund, based on the experience over the policy term.STANDARD LIFE CELEBRATES AWARD SUCCESS

Standard Life, Europe's largest mutual life assurance company, has won "Company of the Year" for the fifth time in succession at the annual Financial Adviser Provider of the "year Awards 2001.The award was the result of votes cast by Independent Financial Advisers (IFAs) for the best providers of pensions. Protection products, mortgages and investment. Scott Bell was named Chief Executive of the year.For each of these categories, the IFAs were asked to rate companies on: design and innovation, competitiveness and performance, support of the IF A sector, and effective marketing and advertising. Standard Life won the award by achieving the best overall score.Standard Life Bank won Mortgage Provider of the year for the second consecutive year while standard Life's investment products won a silver award. Standard Life's protection and pension products won gold awards. Scott Bell, Group Managing Director, and Commented: "HDFC SLIC is delighted to have been again named company of the Year. Standard Life has been successful mainly because of its financial strength and its mutual status. HDFC SLIC responsibility is to serve the needs of company policyholders. HDFC SLIC have no shareholders and can therefore concentrate on delivering benefits to its customers, consistently delivering returns which are higher than those of its competitors. It is an honour to receive such prestigious awards, and HDFC SLIC would like to thank all those IF As who took the time to vote for us. HDFC SLIC aim to be the best within company industry and to continue to provide first class products supported by excellent service." SWOT Analysis Of HDFC SLIC

STRENGTH Covered Vast Area.

High Grade Products.

'AAA' rated by CRISIL and ICRA for eight consecutive years.

Efficient and effective Management Information System (MIS) Lotus Notes. On-line program control HDFC SLIC improves customer orientation on a sustained basis.

WEAKNESS Not optimum utilization of available resources. Poor advertisements. Opportunities.

OPPORTUNITIES Availability of lives and resources is sound. Significant demand pattern and better quality policies & services are more in demand. Special drive for awareness of literacy and mass education by Government.

Opportunity opened for the technically superior, upgraded and better-managed mills to go for value added product range, fetching higher realization. THREATSCurrent per capita consumption of policies in India is far less, then other countries."Absence of Govt. Policy leads to uncertainties about long-tern1 availability of the

COMPANY PROFILE

LIFE INSURANCE CORPORATION OF INDIA (LIC)

Life Insurance Corporation of India (LIC) was formed in September, 1956 by an Act of Parliament, viz., Life Insurance Corporation Act, 1956, with capital contribution from the Government of India. The then Finance Minister, Shri C.D. Deshmukh, while piloting the bill, outlined the objectives of LIC thus: to conduct the business with the utmost economy, an spirit of trusteeship; to charge premium no higher than warranted by strict actuarial considerations; to invest the funds for obtaining maximum yield for the' policy holders consistent with safety of the capital; to render prompt and efficient service to policy holders, thereby making insurance widely popular. Since nationalization, LIC has built up a vast network of 2,048 branches, 100 divisions and 7 zonal offices spread over the country. The Life Insurance Corporation of India also' transacts business abroad and has offices in Fiji, Mauritius and United Kingdom. LIC is associated with joint ventures abroad in the field of insurance, namely, Ken-India ,Assurance Company Limited, Nairobi; United Oriental Assurance Company Limited, Kuala Lumpur and Life Insurance Corporation (International) E.C. Bahrain. The Corporation has registered a joint venture company in 26th December, 2000 in Kathmandu, Nepal by the name of Life Insurance Corporation (Nepal) Limited in collaboration with Vishal Group Limited, a local industrial Group. An off-shore company L.I.C. (Mauritius) Off-shore Limited has also been set up in 2001 to tap the African insurance market.

GENERAL INSURANCE

General insurance business in the country was nationalized with effect from 1st January, 1973 by the General Insurance Business (Nationalization) Act, 1972. More than 100 non-life insurance companies including branches of foreign companies operating within viz., the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd., and the United India Insurance Company Ltd. with head offices at Calcutta, Bombay, New Delhi and Madras, respectively. General Insurance Corporation (GIC) which was the holding company of the four public sector general insurance companies has since been de linked from the later and has been approved as the "Indian Re-insurer" since 3rd November 2000. The share capital of GIC and that of the four companies are held by the Government of India. All the five entities are Government companies registered under the Companies Act. The general insurance business has grown in spread and volume after nationalization. The four companies have 2699 branch offices, 1360 divisional offices and 92 regional offices spread all over the country. GIC and its subsidiaries have representation either directly through branches or agencies in 16 countries and through associate or locally incorporated subsidiary companies in 14 other countries. A wholly- owned subsidiary company of GIC, i.e. Indian International Pvt. Ltd. is operating in Singapore and there is a joint venture company, viz. Kenindia Assurance Ltd. in Kenya. A new wholly owned subsidiary called New India International Ltd., UK has also been registered.

OBJECTIVES OF LIC

Spread Life Insurance widely and in particular to the rural areas and to the socially and economically backward classes with a view to reaching all insurable persons in the country and providing them adequate financial cover against death at a reasonable cost.

Maximize mobilization of people's savings by making insurance-linked savings adequately attractive.

Bear in mind, in the investment of funds, the primary obligation to its policyholders, whose money it holds in trust, without losing sight of the interest of the community as a whole; the funds to be deployed to the best advantage of the investors as well as the community as a whole, keeping in view national priorities and obligations of attractive return.

Conduct business with utmost economy and with the full realization that the moneys belong to the policyholders.

Act as trustees of the insured public in their individual and collective capacities.

Meet the various life insurance needs of the community that would arise in the changing social and economic environment.

Involve all people working in the corporation to the' best of their capability in furthering the interests of the insured public by providing efficient service with courtesy.

Promote amongst all agents and employees of the Corporation a sense of participation, pride and job satisfaction through discharge of their duties with dedication towards achievement of Corporate Objective.

OBJECTIVES OF THE STUDY To know about the sales policy Motivational enhancement tools being followed by the company To identify the peak sales period of the year. Co-operation level extended form the company's side. To study the consumer response towards the quality of policy To study the need of product to the consumer To identify the schemes offered by the company to there consumers.

RESEARCH METHODOLOGYWhen we talk about research methodology, we do not talk only of research method but also consider the 10giG being the method that be used in context research study. We also evaluate why we are using a particular method. The used technique should be such that the research is capable of being evaluated by the researcher as well as by others. This project work involves three types of research:-

DESCRIPTIVE RESEARCHDescriptive research is one, which invoices describing the state of affairs, as they exist. This type of research was used in the study of marketing strategies for the sale of company's product also while studying about the parameters, which affect competitiveness of the product.APPLIED RESEARCHA Part of this is applied research because it aims at identifying trends among the customers about the basis expectations so that company get insight into the demand of customers which if fulfilled will result in complete customer satisfaction.ANALYTICAL RESEARCHIn this kind of research, the research uses facts or information already available and analysis these to make a critical evaluation. We have used facts available about the mktg. Strategies policies and information of company's position in respect of image, quality of product, packaging methods and supply and distribution and real market situation than we analysis them and made a critical evaluation of these facts to suggest certain recommendations.RESEARCH DESIGNSAMPLING PLANThere are three decisions under thisSAMPLING UNITIt defines the target population that will be sampled together.

SAMPLING SIZEFor conducting the study on mktg. strategies of HDFC SLIC, It was not possible to cover all the customers (which are scattered throughout the India) because of the time or other resources constraints some questionnaire were distributed to customers.SAMPLING PROCEDURES"It is the procedure through which we see how the respondents should be chosen and to know about the satisfaction of the consumers."This study involves non-profitability sampling deliberate sampling, which deliberate or purposive selection of particular unit of the universe for constituting a sample, which represents the universe. As the population element was selected for inclusion in the sample based on the case of access., it is called convenient sampling.RESEARCH INSTRUMENTSThe contact methods used in the study were: Direct Personal Interviews. Questionnaire Methods.DATA COLLECTIONData collection was done using through both primary and secondary data.SECONDARY DATAThese data are already existing but might have been collected originally for some other purpose like:Previous record of companyResearch methodology by C.R. Kothari.Marketing Management by Philip Kotler.In addition, other official sources.PRIMARY DATAFace to face conversation with the consumers/ dealers and by the help of Questionnaire.ASSUMPTIONS OF THE STUDYQuestionnaire is distributed to different consumers/ dealers in the market. Respondents have responded correctly.DATA ANALYSIS

AND

INTERPRETATION

Awareness about life Insurance Policy

Yes

60%

No

40%

Priority while taking any policy

For Risk Cover

23%

For Secured Returns

28%

For Investment

31%

For Tax benefits

18%

On What basis you decide the Insurance Company for Investment

Company Image

45%

Range of Policies

15%

Past performance

40%

Do you think that Private Insurance Companies are better alternative for Investment

Yes

60%

No

40%

Do you agree that Private Sector Insurance Company have better services the public sector Insurance Company

Fully agree

45%

Some what agree

15%

Don't agree

40%

IN WHICH COMPANY YOU WILL LIKE TO INVEST?

Are you satisfied with the service provided by your Present Insurance company

Fully satisfied

35%

Some what satisfied

50%

Partial dissatisfied

10%

Not satisfied

5%

Most Appealing Company for Investment in private sector

HDFC SLIC

38%

ICICI Prudential

34%

Bajaj Allianz

20%

Birla Sun Life

5%

FINDINGS

1.The maximum respondents get the information about the insurance policy from the customer executive.

2.LIC is famous in providing the Insurance Services.

3.HDFC SLIC has the major market share of Insurance Services in private sector.4.Those that have not preferred to take policies, the reason behind that, most of them have already get insured with other companies.

5.More than 65% respondents are satisfied by insurance policy provided by company.

6.Those respondents who are not satisfied by insurance policy are due to poor service issues.

LIMITATIONS

Unavailability of relevant secondary data - The relevant secondary data like as broachers and reports were not provided by the companies. They did not take interest.

Problems in collecting primary data the customers were hesitating in giving their personal information and time.

Executive of most financial Institution were giving the information related with one situation. They were not providing the information related to each and every aspect of customer behavior.

RECOMMENDATION The survey conducted has provided with ample insight and information. In this regard, certain recommendation should be made may prove helpful to the organization.

1.Sales executive is an important link between the company and customer so executive should have complete knowledge and should be well trained.

2.Companies should provide good services and flexibilities after the sales of policy.

3.There should be Insurance cum loan scheme.

4.HDFC SLIC has good market share so they should come. With some new policies and benefits, to be a market leader.

5.People are taking interest in availing the facilities of private companies, so private companies should try to give more facilities within less time.

6.LIC should provide long term installment.

7.More authorities should be given at local level, so that heavy amount of policy may done easily.

8.Some free gifts or any other promotional scheme should be given.

CONCLUSION

In present scenario, Indian economic condition is very strong. Govt. is more emphasizing on insurance sector because it is most competitive and productive and productive. Today the insurance sector is progressing by leaps and bounds, it is providing various services.

Life Insurance is one of the fast growing sectors in insurance. Due to high competition, there is fluctuation in interest rates in the market. Although companies and govt. both are trying to control the rate of interest but rates are decided by the market force, so it is very difficult to choose the best option for investment.

When a person gets a insurance policy then he should carefully check the rage of interest and time period. A person should analyze all the benefits given by company and should of the more flexible plan there are many cost which are hidden by the bank and charge from the customers later on so it should be checked. Quality of service must be checked.

Customer behavior is paying an important role in Life Insurance Sector. The companies are become very competitive in their service; Marketing is used as in important tool for making insurance sector attractive. In the coming time only those organizations will get success that will identify the changing customer needs, taste, preferences and behavior and will act accordingly.

BIBILIOGRAPHY

Websites www.newstodaynet.com

www.moneycontrol.com

www.bimaonline.com

www.sebi.gov.in

www.licofindia.comwww.hdfelifeinsurance.com

www.google.com

Primary data

Questionnaire

Journals:IRDA Journal

BooksConsumer behaviour

-Shiffman and Knauk

Research Methodology-C.R. Kothari

Marketing Management-Phillip Kotler

Marketing Research

-W. Jr. Boyd.CUSOMTER INFORMATION MODULEName.........................................................................................................................Occupation.................................................................................................................Address.......................................................................................................................Q1. Do you know about life insurance policy?

a- Yes

b- No

Q2. Why do you invert in Life Insurance?

a- For Risk cover

b- For secured Returns

Q3. On what basis you decide the insurance company for investment?

a- Company Image

b- Range of Policies

Q4. Do you think that private Insurance companies are better alternative for Investment/

a- Yes

b- No

Q5. Do you agree that Private Sector Insurance Company have better services than Public Sector Insurance Company?

a- Fully agree

b- Some what agree

c- Dont agree

Q6. Does your present Insurance Company give product offering according your specific Insurance need?

a- Yes

b- No

Q7. Are you satisfied with the service provided by your present Insurance Company?

a- Fully satisfied

b- Some what satisfied

c- Partial dissatisfied

d-Not satisfied

Q8. Which company offers you easy mode of payment?

a- HDFC SLIC

b- ICICI Prudential

c- LIC

d- BIRLA Sun Life

Q9. Which company does think would be better for investment?

a- HDFC SLIC

b- ICICI Prudential

c- LIC

d- BIRLA Sun Life

Q10. Which company does think would be better for investment?

a- HDFC SLIC

b- ICICI Prudential

c- LIC

d- BIRLA Sun Life

Q11. Which company offers you good return on maturity?

a- HDFC SLIC

b- ICICI Prudential

c- HDFC

d- BIRLA Sun Life

Q12. Which company do you think is better for your childrens future?

a- HDFC SLIC

b- ICICI Prudential

c- Bajaj Allianz

d- BIRLA Sun Life

Q13. Which company offers you better money back policies?a- HDFC SLIC

b- ICICI Prudential

c- Bajaj Allianz

d- BIRLA Sun Life

Q14. Which company offers you better services?

a- HDFC SLIC

b- ICICI Prudential

c- Bajaj Allianz

d- BIRLA Sun Life

Q15. Which company offers you better loan services?

a- HDFC SLIC

b- ICICI Prudential

c- Bajaj Allianz

d- BIRLA Sun Life

Q16. Which company offers you wide variety of policies?

a- HDFC SLIC

b- ICICI Prudential

c- Bajaj Allianz

d- BIRLA Sun Life

Q17. Does company offers you wide variety of policies?

a- HDFC SLIC

b- ICICI Prudential

c- Bajaj Allianz

d- BIRLA Sun Life

Q18. Which company offers you better endearment policy?

a- HDFC SLIC

b- ICICI Prudential

c- Bajaj Allianz

d- BIRLA Sun Life

Q19. Which company does think, will be helpful in your oldes stage?

a- HDFC SLIC

b- ICICI Prudential

c- Bajaj Allianz

d- BIRLA Sun Life

Q20. Which company policy do you have?

a- HDFC SLIC

b- ICICI Prudential

c- Bajaj Allianz

d- BIRLA Sun Life

H R Executive

Operations Officer

Branch Training

S.D.M.

B.D.M.

Branch Manager

Regional Training Manager

Team Leader

Head (Training)

Regional Manager

Account Manager

Regional H.R. Manager

Legal Executive

Regional Managers

G.M. (Corporate H.R.)

Company

Secratary

G.M. (Sales & Marketing)

G.M. (Training)

G.M. (Operations & Writing)

G.M.

(Finance)

C.E.O

Branch Manager

Regional Manager/Branch

Manager

A.R.M. /A.S.M.

G.M.

Sales & Marketing

Group Sales

Head Alternate

Head of Retail Sales

Zonal Manager

Group Sales Manager

Regional

Resident Manager

Sales Devolpment

S.D.M. / B.D.M.

Financial Consultants

A.R.M./S.D.M./B.D.M.

Resident Manager

Administration & Training Staff

Retail Sales

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Submitted To:

Mr. Prasanjeet Bhattacharya

Submitted By:

Sakshi Saxena

MBA

IInd Year

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