TITLE OF THE STUDY

CHAPTER 1

INTRODUCTION

During my summer training in the Housing Development finance

corporation standard life insurance company limited (HDFCSL). I have
gotten the work of recruitment of financial consultant or financial advisor, or
insurance agent who becomes the base of any insurance company. In the
company my department was Channel Development Department whose
work is to recruit financial consultant and I was working as a recruitment
consultant manager. The main focus area of the company is to recruit more
and more financial consultant who brings business in the company. Indeed
the work of financial consultant is very significant and gives more and more
distribution of the policy of the insurance to the company thorough selling
the policies. The main motive of this project is distribution enhancement.

HDFCSL is one of India’s leading private insurance companies. It offers

both individual and group insurance solution. It is a joint venture between
HDFC and a group of company of Standard Life. I have chosen insurance
sector as the place for summer training because in these days this sector is in
boom and it will never go down. All people invest their money in insurance
and get more benefited. In the sector the work of marketing is more
challenging then the other sector because there is 17 insurance companies in
the market who are giving competition to each other and the work of
convince people for investment in respective company is a challenging work
and success in the sector proves that the respective person is a good
marketer. Today insurance sector India is on boom because all people want
to invest. Those who don’t know about investment in share market and don’t
want to invest in mutual funds they invest in insurance sector. Insurance
sector gives them investment plus risk cover. Those who don’t want to take
risk in the investment go to insurance sector. It also gives income tax
benefits to the peoples. Insurance company are now launching ULIP plan

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and gives chance to the investor to choose their investment pattern according
to their fund investment table(this table is included in the product
information of the product of HDFC Standard life). This fund investment
tells us that how much the investor want to take risk. Generally in the ULIP
plan, the thesis is that
“The more you risk the more you have profit.”
NEED OF THE STUDY

The project was an attempt to explore the “Distribution Enhancement of

insurance policy of HDFCSL” in Noida. The project was started on 10th
June, after knowing all the relevant information about the company
insurance product and policies and its competitor’s insurance products in
accordance with the prescribed schedule mentioned by management of
HDFCSL.

The project started in Noida region covering all the local market. In
this process I meet 90 persons to recruit them as a financial consultant. I
have tried to recruit FC from telephone calling, and natural market. During
my work I found the perception of the people about insurance, what they
desire from it, and if they will work as financial consultant than what they
want from the organization. What the organization should do for the
recruitment of more and more FC and should give more facilities to them,
reimbursement, and time to time gift voucher, and weakly training or
meeting with FC to encourage them.

SCOPE OF STUDY

During the summer training I have done my work through telephone calling,
natural market, and contact person having gone to their home. In the entire
work I have contacted person who is student, person who is working in the
organization, visit colleges, IGNOU study centre in Delhi regions Property
dealers and lowers.

I found that most of person can join insurance company for saving
taxes, unlimited earning, life time earning with little effort, which will give
him back support as a HEAD of the family in the diverse situation.
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 This project will help to understand the current market scenario and
marketing in stiff competition. Being a student of management I can draw
the relevant conclusion from the market survey and give the appropriate
suggestion to the organization.
The company can take decision according to the suggestions and it
will provide better experience to the students for their bright carrier. My
project will provide help in these matters which are thus:-

Analyze the people perception about HDFCSL.

 To enhance the distribution channel in the selling of insurance policies.

 To find out the competitive edge of the company over the competitors.

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 CHAPTER 2

ORGANIZATION INFORMATION

ABOUT HDFSLIC

HDFCSLIC 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. It’s 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

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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
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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 Care

Genuinely 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.

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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.

MISSION OF HDFSLIC

We aim to be the top new life insurance company in the market.

This does not just mean being the largest or the most productive company in
the market, rather it is a combination of several things like- Customer
service of the highest order
Value for money for customers
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Professionalism in carrying out business
Innovative products to cater to different needs of different customers
Use of technology to improve service standards
Increasing market share

HDFC GROUP COMPANIES

HDFC Limited
HDFC Bank
HDFC Asset Management Co. Limited
HDFC Securities Limited
HDFC Standard Life Insurance Company
Intel net Global
CIBIL – Credit Information Bureau Investigation Ltd
HDFC Chubb General Insurance

WHAT IS INSURANCE?

The business of insurance is related to the protection of the economic values

of assets. Every asset has a value. The asset would have been created
through the efforts of the owner. The asset is valuable to the owner, because
he expects to get some benefit may be an income or in some other form. It is
a benefit because it meets some of his needs. The benefit may be an income
or in some other form. In the case of a factory or a cow, the product
generated by it is sold and income is generated. In the case of a motor car, it
provides comfort and convenience in transportation. There is no direct
income. Both are assets and provide benefits. Every asset is expected
to last for a certain period of time during which it will period of time during
which it will provide the benefits. After that, the benefit may not be
available. There is a life-time for a machine in a factory or a cow or a motor
car. None of them will last for ever. The owner is aware of this and he can so
manage his affairs that by the end of that period or lifetime, a substitute is
made available. Thus, he makes sure that the benefit is not lost. However,
the asset may get lost earlier. An accident or some other unfortunate event
may destroy it or make it incapable of giving the benefits. We can classify
insurance in these terms:-

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It is a system by which the losses suffered by a few are spread over many,
exposed to similar risks.

Insurance is a protection against financial loss arising on the happening of an

unexpected event.

It is essential that:
The calamity is either natural or unexpected
The insured person does not gain out of this arrangement

SCOPE OF INSURANCE

We all know that assets are insured, because they are likely to be destroyed
or made nonfunctional before the expected life time, through accident
occurrences. Such possible occurrences are called perils. Perils are the
events. Risks are the consequential losses or damages. The risk to an owner
of a building may be a few lakhs or a few crores of rupees, depending on the
cost of building, the contents in it and the extent of damage. The risk only
means that there is a possibility of loss or damage. Insurance is done against
the possibility that the damage may happen. There has to be an uncertainty
about the risk. The word “possibility” implies uncertainty. Insurance is
relevant only if there are uncertainties.

Insurance does not protect the asset. It does not prevent its loss due to
the peril. The peril cannot be avoided through insurance. The risk can
sometimes be avoided, through better safety and damage control measures. It
only tries to reduce the impact of the risk on the owner of the asset and those
who depend on that asset. They are the ones who benefit from the asset and
therefore, would lose, when the asset is damaged. Insurance compensates for
the losses- and that too, not fully.

In conclusion we can say that the scope of insurance is very broad

and specific because it reduces the losses and risk of owner of the assets due
to perils. It also gives supports to the person in the period of adverse
situation. It insured economic consequences. When a person saves, the
amount of funds available at any time is equal to the amount of money set
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aside in past, plus interest. Insurance has no substitute and one more thing
about the insurance is that this is not similar to a hire purchase scheme. In
the event of death, the balance installments are not excused. They have to be
paid by the surviving family. There is a tax benefits, both in income tax and
in capital gins. Marketability and liquidity are better. Life insurance is not
only the best possible way for family protection there is no other way. The
term of life is hard but the terms of insurance are easy.

OBJECTIVES

When we talk about objective of the insurance sector we can divide it into
three categories which are thus.

Broad
Increased coverage of the population

Specific
Customer has a wider choice & range of products
Service standards to customer

Economic Savings mobilization

In this objective part the first part deals with its market share because it deals
with all people who live in India and it has a broad market potential. So the
main motto is to increase and entice more and more people for insurance.
In the second part it deals with innovative plans and schemes for the wider
choice of people and different range of products of its competitors. It tries to
serve its customer with significant way.
HDFCSL invest the investment in the share market through the unit link
plane and get and give significant return from the markets and satisfy their
customer.

“We are All at risk"

A little mouse living on a farm was looking through a crack in the wall one
day and saw the farmer and his wife opening a package.

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The mouse was intrigued by what food the package may contain.

He was aghast to discover that it was a mousetrap. The mouse ran to the
farmyard warning everyone "there is a mouse trap in the house, there is a
mouse trap in the house."

The chicken raised his head and said "Mr. Mouse, I can tell you this trap is a
grave concern to you, but it has no consequence to me and I cannot be
bothered with it. "

The mouse turned to the pig "I am so very sorry Mr. Mouse, but the trap is
no concern of mine either."

The mouse then turned to the goats, "sounds like you have a problem
Mr.
Mouse, but not one that concerns me."

The mouse returned to the house, head down and ejected that no one would
help him or was concerned about his dilemma. He knew he had to face the
trap on his own.

That night the sound of a trap catching its prey was heard throughout the
house. The farmer's wife rushed to see what was caught.

In the darkness she could not see that it was a venomous snake who's tail the
trap had caught. The snake bit the farmers wife. The wife caught a bad fever
and the farmer knew the best way to treat a fever was with chicken soup.

The farmer took his hatchet to the farmyard to get the soups main ingredient.
The wife got sicker and friends and neighbors came by to take turns sitting
with her round the clock.

The farmer knew he had to feed them, so he butchered the pig.

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 The farmer's wife did not get better, in fact she died and so many friends and
family came to her funeral that the farmer had to slaughter the goats to feed
all of them.

So the next time we hear that one of our team-mates is facing a problem and
think it does not concern or affect us, Let us remember that when anyone of
us is in trouble, We are All at risk.

Benefit types Summary

We will pay the greater of your sum
Death Benefit assured (less any withdrawals you
have made in the two year before
your claim) and your total fund value
to your family.
The policy will terminate.
We will pay the greater of your sum
assured (less any withdrawals you
Critical illness benefit have made in the two year before
your claim) and your total fund value
to your family.
The policy will terminate.
In addition to the death benefit, we
Accidental Death Benefit. will pay a further sum assured to
your family.
The policy will terminate.

CHOOSE YOUR INVESTMENT FUNDS

The most significant part of the Unit Linked Plan is that investor can
choose the mode of investment. In this plan the investment risk in your
chosen investment portfolio is borne by the investor. This means that the
premiums you pay in this plan are subject to investment risks associated

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with the capital markets. The unit prices of the funds may go up or down,
reflecting changes in the capital markets.
So to balance investors level of risk and return, making the right
investment choice is very important and you are responsible for the
choices you make.
It has 7 funds that give investor:-
a) The potential for higher but more variable returns over the term of your
policy; or
b) The more stable returns with lower long-term potential.
Your investment will buy units in any of the following 7 funds designed
to meet your risk appetite.

CHAPTER 3

DESCRIPTIVE WORK

Life Insurance Sector: Fact Sheet

India is emerging as one of the two of the largest markets in the world for
life insurance products, the other being China. In the case of India, the
three key drivers of growth are a large insurable population, a high
savings rate, roughly at about 25 per cent and a low penetration, at a mere
2.3 per cent. In the 11 months of fiscal year 2004-05, life insurance
companies collected premium worth Rs 172 billion and the market grew
by a whopping 32.4 per cent during the year. Of this, the public sector
Life Insurance Corporation (LIC) had the lion's share of the market with
premium totaling Rs 134 billion. Private sector players recorded a
spectacular growth of 129 per cent over the last year, compared to LIC's
growth of 18 per cent. India's GDP growth rate of 6 per cent per annum
holds great potential for the sector. According to one estimate real life

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premium are expected to grow at a compounded annual rate of 15 per cent
over the next ten years.

How does India's life insurance market compare with China's? While
India's market is currently the fifth largest, China's is the third largest in
Asia after Japan and Korea. Low penetration rate of insurance products is
common to India and China - at just about 2.3 per cent. In China, the
savings rate is at 35 per cent while for India it is a little lower at 25 per
cent. A large part of the growth of the life insurance market in China was
driven by the conversion of bank deposits into endowment products.
Demographically, China's population is ageing faster than India's.

FDI in Insurance Sector

The government of India is planning to increase the equity limit for
foreign direct investment from the current 26 per cent to 49 per cent in the
insurance sector. Liberalizations of the FDI policy, including the Budget
proposals for raising the sect oral caps in insurance is one of the main
factors for the higher FDI inflows during the current year. In 2003-04 the
total FDI inflows in the country touched $3.4 billion. Indian insurance
companies have been pushing for the FDI limit to be raised. The current
paid-up requirement of Rs 1 billion for general insurance and Rs 2 billion
for life insurance have become difficult targets to achieve for the
companies. The companies feel that injection of additional foreign equity
would reduce their costs. The sector was liberalized for private players
towards the end of 1999. Currently, there are 14 insurance companies,
including the key public sector company Life Insurance
Corporation, in the life insurance sector and 13 general insurance
companies.

Changing Demographics

In 1999, according to KSA-Techno park, savings and investments

comprised 14 per cent of an Indian consumer’s expenditure. The other
items included grocery (44 per cent), personal care items (6 per cent),
consumer durables (6.6 per cent), clothing and books and music (5 per
cent each), eating out (8 per cent), movies (1 per cent). By 2003,
expenditure on savings and investments had declined to just 4.1 per cent.
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The other items included grocery (41 per cent), personal care items (7.6
per cent) , consumer durables (6.6 per cent), clothing (6.9 per cent), eating
out (10.8 per cent), movies and theatres (4.6 per cent), books and music
(7.6 per cent), vacations (3.9 per cent). Clearly, the increased spending on
other items have had a huge impact on the amount people are spending on
savings and investment products.
(Source: Business World’s Marketing White book 2005).

Composition of Household Financial Savings 1991 1996-97 2002-03

Currency 10.6% 8.6% 8.5%
Deposits 33.3% 48.2% 41.5%
Of which Deposits with non banking companies 2.2% 16.4% 1.6%
Shares and debentures 14.3% 6.6% 2.7%
Small savings (central govt. schemes) 13.2% 7% 14.3%

Key Players in the Indian Market

While the public sector LIC dominates the Indian life insurance market
with nearly 80 per cent of the market share. It has 248 branches, 115,000
employees and over 1 million agents. It has also been improving internal
processes and systems, upgrading skills of its agency force and managers
and developing innovative products. LIC sold 1.69 corers policies during
the year compared to 18 lakh policies sold by all the private players.

ICICI Prudential is the leader among the private players with a market
share of 6.69 per cent after its premium collection totaled Rs 11.54 billion.
Bajaj Allianz with sales of Rs 4.9 billion had a market share of 2.86 per
cent. Birla
Sun Life with sales of Rs 4.8 billion had a market share of 2.81 per cent
and SBI Life with premium collection of Rs 3.9 billion, a market share of
2.29 per cent. With its combination of aggressive marketing through an
agency force and the use of the banking channel, ICICI has emerged as a

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key player. Initially, the company drove new business by opening
branches in new locations. The focus has now shifted to penetrating these
locations for increasing market share. The company is also trying to get
higher penetration in the High Net Worth segment. The company has
seven bank assurance partners and this is the largest contributor to non-
agency business. It also has 15 key non-bank partners and 800 financial
sales consultants. As of
September 2004, it had 90 branches in 60+ locations. It took the initiative
in launching non-traditional products such as life-stage products,
retirement solutions and child plans. It also focused on Unit Linked Plans
(ULIPs) to target new consumer segments. It has a presence in 15 states
through partnership arrangements and as of 2003-04, it sold 64,764
policies in rural areas.
HDFC Standard Life has established its branches in 110 locations and is
targeting non-metro towns. It is hoping to leverage its
“pedigree/parentage” to gain more customer acceptance. As a result, it is
focusing on quality – not just volume growth. It has developed some
innovative products like the Loan Cover Term Assurance Plan which
provides a lump sum in case of death of the assured life during the term
plan. Aimed at the growing segment of home loan takers, the plan helps
the family to repay the outstanding loan. Given that HDFC has a huge
database of home-loan customers; it can easily tap into this resource to
acquire new business. The company is leveraging its large customer
database of home loan and banking clients to cross-sell insurance
products.

Birla Sun Life

Birla Sun Life was the first to offer ULIPs in the Indian insurance market.
And this has been the primary driver of its growth over the last one year.
The company has been investing in customer education and feels that as a
result customers don't view ULIPs as mutual funds but long term
insurance. As of 2004, the company had 33 branches, 10,274 agents, 79
corporate relationships and 10 bank assurance partners.

Bajaj Allianz has been focusing on second tier towns and cities which are
yet to witness the entry of other life insurance players apart from LIC. It is
using first mover advantage by opening an office in the most prominent

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location in a non-metro town. It hires local people who are trained. Its
mantra is to develop only the indispensable infrastructure so that it can
match the pricing of LIC. Apart from that it claims that it is the only
private player to provide policy servicing at the branch level. Standard
Chartered is currently its biggest partner followed by Syndicate Bank and
Centurion Bank. The biggest challenge that the company faces is the weak
infrastructure – particularly transport and communications – in the smaller
cities. It is also facing a challenge in terms of banking channels,
particularly for customers who bank with cooperative banks, where delays
in clearing cheques are inevitable. Tied agencies comprise the biggest
channel (68%) of new business acquisitions for Bajaj Allianz. Banca
insurance (27%) is the other significant channel of growth for the
company.

Product Preferences among Consumers

Pension policies are becoming popular as people are preferring to opt for
solutions that can offer them a regular income after retirement rather than
a lump sum on retirement. Maturable policies for a bulk sum are being
bought only for limited single use such as purchase of a house, children’s
higher education, marriage, etc. This consumer trend is likely to help
companies that offer pension schemes. Term policies are finding favor
with youngsters: Term insurance policies are also finding more and more
takers among the younger generation of consumers. Because they offer
protection at extremely low costs.

It is assumed that life insurance is purchased only to avail of tax-breaks.

But the fact remains that while the tax paying population in the country is
just about 20 million, there is a huge population that has not been tapped.
Only the urban salaried class who fall in the tax net has been targeted for
life insurance policies for tax-saving purposes. The other income-earning
classes such as businessmen, professionals, farmers, provide a great
opportunity for life insurance marketers. There is a need to tap these
customer segments effectively. Currently all their disposable income is
going into purchase of consumer durables such as washing machines, TV,
refrigerators and mobile phones (as is evident from the fact that spending
on savings/investment products has declined from 14 per cent to 4 per
cent in the past decade).

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Mutual Funds (MF) have benefited the most during the last two years.
Take the example of the Systematic Investment Plans (SIP) of mutual
funds. In just one quarter ICICI PRU MF sold 20,000 SIPs and it has the
potential of selling about 100,000 new SIPs in a year. There are 33 Mutual
Fund companies in the country and based on this trend one could say that
the estimated fund inflow in MFs through this route alone could touch the
Rs 20 billion per month. Due to the good performance of MF during the
past 2 years, life insurance companies have lost out to mutual funds.

PROFILING PROSPECT

For the recruitment of financial there are certain criteria for their
selection. These criteria differ form different insurance company. We can
divide the profiling prospect of HDFCSLIC in two ways. Which are thus:-

1. EDUCATION (HIGHEST QUALIFICATION EARNED) 2.

PROFESSIONAL QUALIFICATION

1. EDUCATION (HIGHEST QUALIFICATION EARNED)

In this profile the minimum eligibility for the financial consultant is
intermediate and for the rural area its minimum qualification is
matriculation. Graduate, post graduate and above have warm welcome
in this company for financial consultant.

2. PROFESSIONAL QUALIFICATION:-
Every company want more and more business and market share and we
all know that the work in insurance sector is totally based upon the
contact. The more you have contact the more you can give business. So
HDFCSL gives more pressure on professionals. In this criteria we can
select those person who is CA, ICWA/CFC /CS(1), MBA, DOCTOR,
ENGINEER, LLB, and the other professional like computer engineer,
software engineer, etc.

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Quality score of Financial Consultant

Professional person have more contact than only educated people and can
give more business. HDFCSL has launch qscore. Those financial
consultant who
fulfill this qscore then he will be and ideal financial consultant. These
qscore are thus:-
Age:- minimum age for the financial consultant should be 25 and
maximum age is 60 years.
Financial consultant should me married. The reason behind it is that
person who is married does his work sincerely and honestly because he
has lots of responsibility for their family.
Income: - The income of financial consultant should be more or equal to 3
lacks per year.
FC should be graduate or higher because it shows maturity of the
respective person.
FC should spend minimum 3 year in the city of current residence.

Quality score is showing the quality of the financial consultant. The

financial consultants of HDFC STANDARD LIFE insurance company
should these criteria. The all criteria is showing that only those person
should do work as a financial consultant who are graduate because a
graduate people have becomes sincere about his work and future. The
person whose age becomes more than or equal to 25 years have liability to
earn to his respect and the future. Married person will work properly and
married people have more contact than the unmarried people. More
people will faith on that married people then the other. The person who is
living in Delhi from more than 3 years obviously that person will have
good contacts. The person whose income will be more or equal to 3 lacks
per year that person will have contact of potential customer who will give
qualitative selling of the policy. These are the points of Ideal Financial
Consultant.

You can be more successful in the insurance sector when you have more
contact and ability to show the dreams to the customer. In this sector
unlimited earning and great challenge is present. You have to set you
mind how much you want to earn. Here need of marketing skill and

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dream formation ability. Through my natural market I have made six
financial consultants. Basically I have shown him dream to him of
unlimited earning, improving personality and presentation skill. I have
behaved him as a good friend of him and try to show his dreams and show
him the future in insurance sector.

LEADS GENERATION

For making financial consultant I have divided my work in three parts. I have
given presentation in the study centre, arrange party and small meeting with the
customer and try to convince them. I can divide my work in three parts which
are thus:-

Phone calling:- For the recruitment of financial consultant I have used

phone calling and try to convince them. most of the call has been
disconnected having heard the name insurance but I tried my best and
show him tell him how he can save the taxes and unlimited earning in an
hour per day.

Set meeting time with my friends, relative, and contact person for this
purpose. I have gotten that there is need of less effort for making FC in
terms of those who are unknown for me.

In the time of traveling, walking in the park, I tried to contact person in

this regard.
Some times people abuse me and threat if I call him again.

MODE OF CONTACTING PROSPECTS

I can divide it in three parts. For the purpose of contacting FC I have done
certain things which are thus:-

Presentation: - I have given presentation in the Ignou study centre, Sikkim

Manipal university study centre Patel Chest area Majnu ka tilla area.
Firstly I had met to the class coordinator after that director and set the
presentation time. I have given proper presentation in this study centre. I
21
have gotten positive attitude of the student. I made 3 FC from these
centre. And still more 15 are in the que because of exam.

Arrange meeting point in the restaurant. I fix meeting point of my friend’s

friends in the restaurant because it gives more effect in their in their mind
and set positive view of insurance agent. I gave them tea party and snacks.

Through phone calling whatever appointment I have gotten, I had gone to

his home or his office and tell him the benefits of a financial consultant.

Through these I have gotten various contacts and person who wants to be
financial consultants. As the ratio of making financial consultant is very
low. When we talk to 100 persons for financial consultant then only 5 to 8
people gives response and rest deny form it. Out of 5-8 people only 1-2
people join the organization as a financial consultant.

TOTAL NO. OF PEOPLE CONTACTED

During the work of making financial consultant I have contacted 100
people including phone calling, skim natural market, and the other efforts.
In these 100 people I have gotten appointment of 35 people. In the 35
person I have converted 19 people into Financial Consultants. The
percentage of making FC is 19%. The ratio of converting people into
Financial Consultant is 1:5. During the meeting time with the customer
these questions are generally asked by them which are thus:-

Which type of policy your company is providing?

Our payment will base on commission or pay roll?

How your policy is different from other?

How can I believe on you and your company?

Mostly person have still faith in LIC so I have to convince them against
the LIC.

22
For the joining insurance sector as a financial consultant they need to pay
rs.825 for online training and rs.925 for regular training. This amount
differs from company to company. Different company charges different
fee for making FC. Generally the amount approx 500 in all the insurance
company but in HDFCSL charges 925 or 825.

CHAPTER 4

RESEARCH METHODOLOGY

Objective of study

Marketing Research provides information that assists and organization to

define opportunities for product development and market strategy. It
works by assessing whether marketing strategies are accurately targeted,
and by identifying market opportunities or changes that are required by
customers. Market research tends to confirm issues that are well-known in
a market initially, but if planned well and effectively it will also identify
new opportunities, market niches, or ways by which to improve sales,
marketing and communications activities.
The role of market research, therefore, is to reduce uncertainty in
decision making, to monitor the effects of decisions taken, and identify
the performance of a company or a product in the market. During
internship I my market survey was related with the distribution
enhancement of the insurance policies of HDFCSL. To be more specific,
we can list five key uses for market research, namely to:

a. Identify the size, shape, and nature of a market, so as to understand

the market and marketing opportunities.
b. Investigate the strengths and weaknesses of competitive products
and the level of trade support a company enjoy.
c. Test out strategic and product ideas which help to define the most
effective customer-led strategies.
23
d. Monitor the effectiveness of strategies
e. It will define when marketing expenditure, promotions and
targeting need to be adjusted or improved.

The variety of purposes listed above makes it clear that market research is
not simply a
“first check.” It is useful ahead of any action, but it also provides a
means of checking and refining views as operations proceed.
Companies, especially those for which budgets always seem tight, who
have selected one of these uses for market research are always
concerned to make the research a worthwhile investment. Best results
come when their marketing and sales planning is influenced by the
results of research. .

Objective of project

My project is being undertaken in HDFCSL in which FC recruitment

program and distribution enhancement of insurance policies of HDFCSL
has been implemented as a marketing strategy. HDFCSL tied up with
world class insurance product.

Primary Objective

The primary objective of my project is to make or recruit Financial

Consultant and to increase market share of HDFCSL. In the insurance
sector the main work is done by the financial consultant who brings
selling for the organization. It improves the services of the organization.

Secondary Objective

In this point we can conclude the company objective which is to increase

the market share in the insurance sector and this will happens it becomes
more beneficiary and reliable to the customer. Customer should have faith
on it. It is trying to do it. Today it comes under top 5 insurance companies.
It wants to reach on the top.

24
Working Procedure

In my summer training I have targeted Noida & Some parts of east Delhi.
I have collected my data from Noida & some parts of Delhi. Here I have
to approach various detail of insurance product of HDFCSL and the other
competitor of it, suggestions, its marketing strategy and its advertisement.
As a part of marketing research I also have to collect data in order to find
out market share of HDFCSL from our sample space. During the period I
was in constant touch with my senior and area sales manager and I have
to submit daily report of my work and full information about phone calls
and questioners. Questioner consisting of open ended questions was used
for collection the information.

Sample Area

My working area was Noida & some parts of Delhi. I have collected my
data in these areas. As we know that those person will invest in insurance
sector who is salaries or professional. I have targeted those person who
age is equal or more than 25.

Instrument Used

I have collected my data form field survey and through phone calling. As I
was doing the work of recruitment officer so whenever I called for
financial consultant then I tried to fulfill my questioners.

Methods of data Collection

Data is the significant part of the research. Your all research depends upon
your data. Whatever data is collected by me during the internship in the
HDFCSL, I can divide the method the collection of my data into two parts
which are thus:-

a. Primary data
Primary data are those which are collected fresh and for the first time and
thus happen to be original in chapters. I have collected my data through
phone calling and through direct communication with respondents in one
25
form or another or through personal interviews. Through observation
method I was able to record the natural behavior of the group. Sometimes
I verify the truth of statements made by informants in the context of a
questionnaire or a schedule.

b. Secondary data
Secondary data are those data which are being already collected by
someone else and which have already been passed through the statistical
process. I have collected my published date form Internet and the books,
magazines and newspaper.

Research Design

In this project conclusive research is used. In conclusive research data was

collected by descriptive research method. The method applied in
descriptive research is cross sectional studies field work and survey. My
study concerned with the specific prediction of distribution of insurance
policy. It assimilates
the narration of facts and characteristics concerning individual, group or
situation.
The objective of my research is to enhance the distribution of insurance
policy of HDFCSL in the market. In the market there are lots of insurance
industry is playing and trying to achieve more and more market share. In
this situation is very important to sustain in the market and increase share.
For this purpose I have done a research on it.

I have done phone calling and try to get their view about it. As I was
working in this organization as a recruitment officer but regarding project
I talk about the reliability of the company, trust, its insurance plan like are
you aware about its plan or not and some other question like if you are
investing your money in the other insurance company, so would you
please tell me reason behind it. I had prepared 100 questioners for the
collecting data and did 100 phone calls in Noida Region. As my research
area was Noida & some parts of Delhi.

Process of Recruitment of Financial Consultant

26
During summer training I had to recruit financial consultant. For the
recruitment OF Financial consultant I had tried phone calls, and my
natural market. Through it I had recruited 12 financial consultants. As my
target was to give 12 financial consultant to the company within two
months. During the making the financial consultant when I talk to him
about it firstly they don’t want to talk with the name of insurance because
they think it is a very challenging job and because of business of the life
they don’t want to come in the profession.

CRITICAL RATIOS

In the insurance sector the ratio of making FC is generally becomes 1:20

or may be more than that. During the recruitment of financial consultant I
have contacted 100 people. In these 100 people I have converted 12
people into FC.
So the critical ratio becomes 1:5. This ratio is relatively good in the sense
matter which generally happens, according to my external and area
manager of the HDFCSL Delhi branch.

NO. OF PROSPECTS CONTACTED

As I have written above I have contacted 100 people. In these 100 people
45 people gives me appointment to meet him. In these fifty people 20
people are still in process for being financial consultant and 6 people
denied for become FC. At last I have recruited 12people as financial
consultant.

NO. OF APPOINTMENT GENERATED

In the prospect of getting appointment generated through phone calling I

had contacted 80 people and gotten 35 appointments. In these
appointments 20 people are still giving me new date of appointment. Rest
of them 10 person cancelled the appointment and rest 5people meet me
and finally they are now FC.
Through natural market I contacted 4 people and recruited him as a
financial consultant for HDFCSL.

27
 Through the meeting with friend’s relative and other medium I have
contacted 18 people in these 6 people are recruited as FC and rest are in
the process.

NO OF FC RECRUITED

I have tried to give good result and try to use my marketing skill for the
recruitment of FC. After contact of 100 people I have recruited 3 people
through phone calling, 6 through natural market, and 3 through the
friend’s relatives and the other contacts. In the nutshell I have recruited 12
people as a Financial Consultant.
In the process of recruitment of financial consultant 20 people are still
in process because 5 person who are student and pursuing BCA, MA,
MBA and TOUR and TRAVEL have financial problem, are rest are giving
me new dates. Rest 15 person are giving me new date for meeting with
the differentdifferent types of excuses but finally I will recruit him.

INDIA -THE NEXT INSURANCE GAINT

Indian economy is the 12th largest in the world, with a GDP of $1.25
trillion and 3rd largest in terms of purchasing power parity. With factors
like a stable 8-9 per cent annual growth, rising foreign exchange reserves,
a booming capital market and a rapidly expanding FDI inflows, it is on
the fulcrum of an ever increasing growth curve.
According to the latest research findings, nearly 80% of Indian population
is without life insurance cover while health insurance and non-life
insurance continues to be below international standards. And this part of
the population is also subjected to weak social security and pension
systems with hardly any old age income security. It’s a business growing
at the rate of 15-20% per annum and presently is of the order of $47.9
billion.
India is a vast market for life insurance that is directly proportional to the
growth in premiums and an increase in life density. However, the market
share of private insurance companies remains very low
-- in the 10-15% range.

28
Major Driving Factors
=> Growing demand from semi-urban population
=> Entry of private players following the deregulation
=> Rising demand for retirement provision in the ageing population =>
The opening of the pension sector and the establishment of the new
pension regulator
=> Rising per capita incomes among the strong middle class, and
spreading affluence
=> Growing consumer class and increase in spending & saving capacity
=> Public private partnerships infrastructure development
=> Dearth of innovative & buyer-friendly insurance products
=> Success of Auto insurance sector
Emerging Areas
=> Healthcare Insurance & Pension Plans
=> Mutual fund linked insurance products
=> Multiple Distribution Networks .i.e. Banc assurance

Market Share of the top five insurance sectors

29
In terms of group insurance schemes, LIC’s market share was at 72.2%
after it covered 4.9 lakh lives. Private players had 27.9% of the market
covering 1.9 lakh lives. Till today LIC is covering more market share than
the other private players.

The 12 private players in the country together mopped up Rs 385

crore in premium in the first two months selling over 2 lakh policies.
ICICI Prudential Life leads with market share of 5.9% It is followed by
BIRLA
SUNLIFE with a market share of 2.6%, BAJAJ ALLIANZ (1.6%), TATA
AIG (1.5%), HDFC Standard Life (1.4%) and SBI Life (1.2%).Each of
the other private players like AVIVA , Max New York Life, OM KOTAK
Life,

ING VYSYA AMP Sanmar and MetLife had less than 1% market
share but posted high growth in business.

Market share in terms of premium collection

30
note:- these values are in crore.

In terms of premium collection, ICICI Prudential mopped up Rs 136 crore

followed by Birla Sunlife (Rs 60 crore), Allianz Bajaj (Rs 37 crore), Tata
AIG (Rs 35 crore), HDFC Standard Life (Rs 33 crore), and SBI Life (Rs
27 crore). In the private sector ICICI prudential have more market share
in terms of premium collection. Last fiscal HDFCSL is on the fifth rank.

Marketing strategy of HDFCSL

Marketing is process of analyzing the consumer need and serve the need
of consumer which satisfy the consumer and solve the consumer problem.
in this sector the marketing is pay main role in brand formation and policy
awareness to the public. As we know that LIC is covering more than 75%
market share. So marketing helps in increasing the market share.
Marketers have to analyze the market share and find out the market. We
can divide its marketing process in two parts:-

1) Marketing for Financial Consultant:- Work part-time, earn full-time is

the punch line of the its marketing strategy. It says just work for 5 hours a
week and earn more than Rs. 20,000 per month. If you will be financial

31
consultant of HDFCSL then you can have high earning potential, zero
investment, and you will not have pressure for work. You can work as
whatever you make your target or you can work as a part-time as per your
convenience. There are certain facilities for FC:-

Flexible work timings:-you can work whenever you like and from
whenever you like. You can work full time or part-time, depending on
your convenience. It’s like no other job. However, the time you invest will
determine you success.

Zero investment:- There is no star-up capital. Be your own boss; with a

flexible working environment, unlimited earning potential and other
opportunity to be part of a world class team. The advantage is all yours.
Sunrise industry:- Life insurance in India has a huge potential for growth.
Statistics reveal that only 25% of the insurable population in India is
insured. And those insured are in need of still higher insurance cover. The
over 100% growth displayed by private life insurers indicates this huge
untapped potential.

Strong partnership:- It is on of the fastest growing life insurance

companies. It was the first private life insurance company to be granted a
license by IRDA.
It have been rated by business world class magazine as India’s most
respected Private life Insurance Company in 2004. HDFC Standard life
Insurance has one of he highest brand recall of around 86%.

2) Marketing for the potential market:- In our general life we buy those
things which we see. For consumer awareness print marketing and
electronic marketing both are most important. In the market 17
insurance players is trying to convince people with the advertising
in television, radio, newspaper and magazines. HDFC Standard Life
is also adopting these electronic marketing. The punch line of
HDFC Standard Life is “Sar Utha Ke Jiyo”. Today it has more than
8 lack policyholder. It is also targeting cinema halls like PVR where
it will get more potential market, for marketing.

32
3) For insurance sector the main marketer becomes its Financial
Consultant. So it is trying to recruit more and more financial consultant
for the purpose of sale of the policy of HDFC Standard life and people
will be more aware through it because it is a work of contact. Which have
more contact the that person can get more business.

CHAPTER 5

DATA ANALYSIS

After collection the data the most important part comes which is data
analysis. It is the most significant part of the research. Whole work
regarding data depends upon the data collection. During the period of
summer training I have collected my data in the area of NOIDA & some
parts of DELHI. For the collection of data I had gone to the market,
gathered places like malls, fun Cinema halls, and the other gathered
places where I can get the potential customer. As the plans of HDFC
STANDARD LIFE target medium income level in the urban area. The
minimum premium of the policy is 12,000 yearly, and 15,00 monthly. So
had to target those places where I can get person who is salaried and their
salary most be more than 10,000.
For the collection of data various questioner is prepared by me and I have
gotten certain result form it. These question and results are thus:-

Q1. Do you invest your money in insurance sector? If yes then which
company you recall firstly?
33
 I have gotten mostly person within 100 people they recall firstly LIC
because it is public sector industry and from lots of years it is connected
with the public. So public believe it more than other insurance company.

other

lic

hdfc icici

As in the market out of hundred people 50% people say, on the name of
insurance they recall firstly LIC then 18 % people say about ICICI and
then 17% people recall HDFC Standard life and rest people recall other.

Q2. How many times you have invested your money in insurance sector
without consulting to any Financial Consultant.
Ans-

consulting with FC
Self

34
In this survey I have analyses that mostly people dependent upon financial
consultant for the investment of their money in the insurance sector.
Financial Consultant pays main role in the insurance sector regarding
sales of policies. For the distribution enhancement of the policy of HDFC
Standard Life it is most important that it should give more preference to
its financial consultant. It should offer attractive commission to the
financial consultant so that they work for the organization by heart. There
are 17 insurance companies in the market and they are trying to increase
their market share and for this purpose they will definitely give more
benefit to public so that they may agree to become financial consultant.

Q3. Are you aware of the advertisement of “Sar Utha Ke Jiyo”? if yes then are
you able to understand what it actually want to say?

Ans :- when I talked to the people in this regard then he replied that they
are aware about the this Policy and I am talking about HDFC Standard
Life Insurance. It shows our advertisement is making place in the mind of
the customer. They are aware of our insurance company. It will develop
faith on the industry and help to the financial consultant of the HDFC
Standard Life to convince them because advertisement have maid their
work to tell them it is a renounce company and they will not cheated by
this company.

4) For the investment in insurance sector you choose company or your

investment based upon the financial consultant.
Ans:- Through this question I will be able to know that role of the
financial consultant.

FC
choose
self

35
Through the graph I can analyze that most of the investment is done
through financial consultant. 32 persons out of 100 people choose their
investment company themselves. For the purpose of selling policy
Financial Consultant will give more effective work. Generally in this
sector mostly work are done through contact and financial consultant use
their contacts for the purpose of selling policies. Generally what happens
that a specific area is covered by financial consultant who helps in
improving in market share of insurance company.

5) When I was doing phone calling for the recruitment of financial

consultant then most of person was denying for the job of financial
consultant because HDFC Standard Life gives only commission to
the financial consultant on each policy. Mostly person don’t want to
work on commission basis.

6) Have you ever invested your money in HDFC Standard Life?

Ans:- From 100 person ten person said they have invested their money in
this company.
Certainly the market share of this company is not comparable to the LIC
but when we talk about private sector companies; all companies are
moving around this minimum value. Till today mostly people want to
invest in public sector bank like LIC. Customer is loyal for LIC. But
HDFC Standard Life is also trying to increase its market share.

7) Have you gotten calls for the investment in HDFC Standard Life for
insurance?

Ans:-

36
 yes
No

Out of hundred people only 32 people have gotten calls for investment in
HDFC STANDARE LIFE. This data showing that people is getting call for
investment but only few invest their money. It shows that It has to improve its
marketing system and the recruit more financial Consultant for providing better
service so that more person take interest in it.

Analysis of the recruitment of Financial Consultant

In the recruitment of financial consultant I have recruited 12 financial

consultants. In the process of recruitment of financial consultant I found that
most of the person generally doesn’t want to work on commission basis. I
have recruited him having shown the dream like this:-
I have divide market on two parts. In the first part I have divided people
into two parts 1st who are businessman and 2nd employ or student
1st Business man
There are certain benefits if any businessman joins insurance sector like
HDFCSL as a financial consultant.

2nd Employ or Student:-

For the recruitment of employ and student I have made dreams which suit
them.
The benefits regarding FC if they will be a FC are given below.

In the analysis part of the recruitment of financial consultant I can say

that the work of financial consultant is very beneficial for the people
and if we give them better presentation and try to understand him how
it will help you then they will definitely join it. In the market there are
17 insurance companies. All these company are recruiting financial
consultant but HDCFSL is giving a normal target to their financial to
37
their FC which can be easily achieved by FC. That’s why taking more
interest in this HDFCSL while the charges for making FC is Rs.925
and Rs.825.

38
 CHAPTER 6

CONCLUSION AND SUGGESTIONS

CONCLUSION

HDFCSLIC is the renounce industry in the insurance sector. It believes in

quality not in quantity. HDFC have total 12 group companies. It is the first
insurance company who has gotten the license of insurance in firstly. It has
started its insurance industry with the joint venture of U.K. based standard
life insurance company.
In the insurance sector main work is done by the financial
consultant who brings business to the industry. It gives more priority for the
recruitment of financial consultant that’s why it has setup 5-qscore. It gives
priority that is professional like as MBA, CA, ENGINEERS, DOCTORS,
LAYERS, AND OTHER PROFESSIONAL.
During summer training I have given presentation in study centre
of IGNOU and SIKKIM MANIPAL and phone call, and try to contact those
person to whom I know and contact them for the purpose of financial
consultant. In this process I have recruited 12 people who are either CA,
MBA, SOFTWARE ENGINEER, STUDENT, OR EMPLOY OF THE
ORGANISATION.
It gives more facilities to their employ and provides better opportunity
to their employ for promotion because it has minimum target for fulfillment. FC
have to give 36 policy or 360 lack premium with in six months which less in
comparison to the other insurance industry and for Delhi region where the
transaction of money is too high. FC has chances to become sales development
manager with in six month months when he fulfills the target. The post of
SDM is based on payroll. He will get package of 2.75 lack per year. India
is one of the most lucrative financial services market in the world. The
insurance market in India is estimated to be around 400Bn growing at an
astounding rate of 30% p.a. Still the experts believe that the potential is largely
untapped.
The insurance market is dominated by the public sector giant LIC with a market
share of around 71.4%. With the private players leading the growth story, this
sector is witnessing more marketing actions than even the FMCG sector.
Traditionally insurance are sold through direct selling The reason
being purely the nature of product warrants direct communication with the
consumer. Kilter categorizes Insurance as an "Unsought" product. Unsought
products are those which are ranked lowest in terms of consumer interest.
Consumers may not be even aware of either the need or existence of this
product.
Historically, Indian insurance products are sold for wrong reasons.
People buy insurance to avail the tax benefit and not to ensure protection
and LIC was happy to oblige. Hence most of the sales talks start with the
question " How much do you pay tax?" . Little money was spent on brand
building because there was no competition for LIC.
Things have now changed. With the increasing financial literacy, volatile
economy and uncertain future are prompting Indians to look seriously at
insurance as a means for protection rather than tax saving.
HDFC Standard Life Insurance (HDFCSL) is one of the major players in
the insurance market. One of the first private insurers to enter the market,
HDFC SL entered the scene in 2000. It is a joint venture between the
housing finance major HDFC and the UK insurance giant Standard Life.
Now a days we are seeing a lot of media action from this company.
Although a slow starter HDFC SL was having a small share of the pie with
Bajaj Allianz edging out ICICI from the second spot . Bajaj have a market
share of around 8% and HDFC SL and ICICI fighting at 3rd place with
around 7.5%. HDFC is currently focusing on The Pension Plan and the
Child Plan aiming to cash in on the potential of these segments. The pension
market in India is estimated to be around 1000 crore with a huge potential
for growth in the future.
The basic theme of the campaign is to appeal to the self respect of these men who
are in their prime of their career. "Even after retirement let your hands give rather
than receive" is one of the best themes for a pension plan. Since I am in that
category, these ads strike a chord in me and remind me of the need to plan for my
retirement. For example, it takes a 2 lakh corpus to generate Rs 1000 per month
pension. Also if you put 10000 per month in a pension plan if you are 30 yrs old,
what you will get after 20 years is a monthly pension of 10000. (Correct me if I
am wrong).
40
 SUGGESTION

When we talk about suggestion I think I have small experience of this sector but
whatever I have pointed out which are thus.

 In the recruitment of financial consultant I found that mostly person don’t

want to give rs.925 or rs.825. I have faced some difficulties when they
don’t agree to give this much amount. If the company will less this
charge then it will get more FC.

 It should organize weakly meeting with FC for the business and give
appraisal training to FC. It works as a performance appraisal of the FC.

 It should give monthly party to the FC for the attachment with the
industry.

 It should give canopy facility to CDM or RC for the recruitment of FC

and if it will give canopy facility to FC then they can give more facility.

 Generally we buy only that thing whatever we see. It means that it should
spend more on advertisement. Other insurance industry like LIC and
ICICI advertise mostly through banner on metro station, on road and
advertise in the cinema hall. Add more and more movie hall for the
advertisement.

 The role of recruitment is not easy so it should increase commission or

give salary instead of commission so that RC will take more interest in
the recruitment on financial consultant.

 Regular canopy should be established such areas like metro Stations,

college campus, and malls, supermarket, and hypermarket for the purpose
of recruitment FC and getting business form FC.

41
  It should launch new innovative insurance policy which will entice
people for insurance in HDFCSLIC.

LIMITATIONS OF THE STUDY

The information given in the above part is based on market survey, meeting
with the people, and phone calls, and the other medium like internet and
browser of HDFCSL. My project is based upon the interaction with the
people for the purpose of recruitment of Financial Consultant. My study is
totally based on the perception of the people that what they think about the
insurance when someone offer him to work in the insurance sector. I
analyze that the person who is needy for money, greedy about fast life and
believes in speed join insurance because this sector gives you a platform for
unlimited earning and life time earning like life time validity in mobile
phone.

42
 Conclusion

A life insurance is a financial tool with various benefits. The primary feature of
a life insurance is to provide a financial safety net for your family in case of
your early demise. If you survive the policy term, the maturity benefits you get
can be utilised to fulfil your long-term financial goals. The corpus created also
makes you financially independent on your retirement. The multiple benefits of
life insurance policies make them a must-have in your financial planning. Read
on to understand the features of life insurance and its importance at various life
stages.
To delay is to regret

You may not always be around to take care of your family. And that’s when
a term plan ensures your family is well protected .

43
 BIBILIOGRAPHY

Books

One author
Philip Kotler’s marketing management, identifying market segment and targets.
Page201.

Connecting with customer value page 116

Magazines
Browser given by HDFCSL
Magazine related with HDFC

Internet

Name of sight on net:- hdfcstandard life insurance. com

http://www.IRDA .com

(http://www.persmin.nic.in/)

http://www.irdaindia.org/ins_ombusman.htm

(URL: http://www.irdaindia.org/)

[email protected])

44
 Appendix

I. The following questions concern your position and other personal information.

1, Name:

2, Age

1. 20-30 yrs

2. 30-40 yrs

3.40-50 yrs

3. Above 50 yrs

3. Gender

1. Male

2. Female

4. Qualification

1. Diploma

2. UG
45
3. PG

4. Others

5. Income (Per month)

1. <10000

2. 10k-20k

3. 20k-30k

4. 30k-40k

5. Above 40k

6. Do you have any Life Insurance?

1. Yes

2. No

7. In which company you have Life Insurance Policy?

1. LIC

2. ING Vysya

46
3. HDFC

4. ICICI

5. Others

8. Do u examine about the plans before going to invest in insurance?

1. Yes

2. No

9. Tick on what the life insurance company provides?

1. Security for life

2. Investment Opportunity 3. Tax Benefit

3. High returns

4. Pension

10. Among various insurance companies why did you chose the above mentioned
company

1. Reputation of the company

2. Price of premium of policy

3. Benefit of the policy

4. Flexible premium payment options

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11. Is the premium within your budget?

1. Yes

2. No

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