LOVELY PROFESSIONAL UNIVERSITY DEPARTMENT OF MANAGEMENT Report on Summer Training

HDFC STANDARD LIFE INSURANCE COMPANY

CAREER PATH IN HDFC STANDARD LIFE Submitted to Lovely Professional University

In partial fulfillment of the Requirements for the award of Degree of Bachelor of Business Administration

Submitted by:
Mukesh Verma 3020070181
DEPARTMENT OF MANAGEMENT LOVELY PROFESSIONAL UNIVERSITY PHAGWARA (PUNJAB) (2007-2012) 1

CONTENTS
TITLE PAGE NO.

ACKNOWLEDGEMENT.4 DECLARATION...................................................................................5 CERTIFICATE......................................................................................6 1. EXECUTIVE SUMMARY....................................................................8 2. LITERATURE SURVEY AND REVIEW.............................................11 3. INTRODUCTION.13
INSURANCE INDUSTRY IN INDIA AN OVERVIEW..13 HISTORY...1 4 KEY MILESTONES..15 INDUSTRY PERFORMANCE..15 PRESENT 16 SCENARIO..

MAJOR COMPETITORS..17

4. INTRODUCTION TO HDFC & STANDARD LIFE.19 5. HDFC STANDARD LIFE INSURANCE COMPANY LIMITED24
INTRODUCTION 24 BUSINESS GROWTH..25 KEY .26 CORPORATE OBJECTIVE..27 STRENGTH.........................

VISION...2 7 VALUES.2 7 BOARD MEMBERS..28 MARKET SHARE..30 MILESTONE IN THE HISTORY.31 PRODUCT & SERVICES.........3 .........................................................................32 ADVERTISEMENT & SALES

PROMOTION.................35 FINANCIAL PERFORMANCE..36 FUTURE PLANS..39

6. CAREER PATH IN HDFC SLIC41

CAREER PATH 41 Channel Department.42 Sales 44 Development

Department

BUSINESS DESCRIPTION.45 DESIRE PROFILE46 JOB DESCRIPTION FOR FINANCIAL CONSULTANTS...46

7. RECRUITMENT PROCESS OF FCs 48

WHAT ARE THE ROLES OF A FINANCIAL CONSULTANT? .49

LICENSING PROCESS..57
3

 Step 1 : Registration 57 Step 2 : IRDA Training...58 Step 3 Examination....58 : IRDA

8. RESEARCH METHODOLOGY ....60

OBJECTIVE OF THE PROJECT...60 RESEARCH PLAN....60 RESEARCH DESIGN 61 DEVELOPING THE RESEARCH PLAN.61 COLLECTION OF DATA.61 SAMPLING PLAN61

9. DATA ANALYSIS, INTERPRETATION AND PRESENTATION64 10. SWOT ANALYSIS..81 11. CONCLUSION.. 84 12. SUGGESTIONS AND RECOMMENDATIONS..86 13. BIBLIOGRAPHY 88 14. ANNEXURE...90

ACKNOWLEDGEMENT
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I would like to thank my project guide, all professors for supporting me during this project and providing me an opportunity to learn outside the classroom. It was a truly wonderful learning experience.

I would like to thank my industry guide Mr. Ashish Pratap Sisodia (Channel Development Manager) for guiding me through my summer internship and research project. His encouragement, time and effort are greatly appreciated.

I would also like to thank Mr. Deepesh Kumar (Channel Development Manager) of Subhash Nagar branch who suggested me such a nice topic Career Path In HDFC SLIC, he actually helped us during our initial days and was always there with us during hard times. I would like to thank all those people who helped in filling up the questionnaire and provided valuable feedback which helped in data analysis and supported our research. Last but not the least I would like to thank Mr. Bill Gates for his MS Office I could not be able to make my Project Report in printed and attract form.

Mukesh Verma

DECLARATION

I hereby declare that the project report titled CAREER PATH IN HDFC SLIC is my own work and has been carried out under the able guidance of Mr. Ashish Pratap Sisodia, Channel Development Manager, Subhash Nagar Branch New Delhi 110027 and , Faculty, Lovely School of Business, Punjab. All care has been taken to keep this report error free and I sincerely regret for any unintended discrepancies that might have crept into this report. I shall be highly obliged if errors (if any) are brought to my attention. Thank You.

Mukesh Verma BBA-MBA (INT.) Vth SEM. 3020070181

CERTIFICATE

TO WHOM SO EVER IT MAY CONCERN

This is to certify that Mr. MUKESH OF LOVELY SCHOOL OF BUSINESS, LOVELY PROFESSIONAL UNIVERSITY, PUNJAB has successfully completed his

Project title CAREER PATH IN HDFC SLIC From 1st JULY, 2009 TO 14th AUGUST, 2009.

With HDFC Standard Life Insurance company Ltd.

We wish him good luck for his career. Manager CD HDFC STANDARD LIFE INSURANCE ASHISH PRATAP SISODIA SUBHASH NAGAR BRANCH NEW DELHI

CHAPTER 1

EXECUTIVE SUMMARY OF THE PROJECT

Introduction
HDFC Standard Life Insurance Company Ltd. is one of India's leading private insurance companies, which offers a range of individual and group insurance solutions and providing the career opportunities to its employees. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), India's leading housing finance institution and a Group Company of the Standard Life, UK. HDFC as on December 31, 2007 holds 72.38 per cent of equity in the joint venture.

OBJECTIVE OF THE STUDY: 1. To study the benefits for the employees of the organization. 2. To study the career path of the organization. 3. Recruitment of financial consultant. 4. SWOT analysis

SCOPE OF THE STUDY The study will limited to HDFC Standard and its employees career path for their bright future and also employees and Delhis people survey about the perceptions toward the HDFC SLIC environment in the organization.

SIGNIFICANCE OF THE STUDY SWOT analysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues. SWOT stands for strengths, weaknesses, opportunities and threats. Strengths and weaknesses are internal factors and opportunities and threats are external factors.

MANAGERIAL USEFULNESS OF THE STUDY

Before insurance sector was opened to the private sector Life Insurance Corporation (LIC) was the only insurance company in India. After the opening up of Insurance sector in India there has been a glut of insurance companies in India. These companies have come up with innovative and flexible insurance policies to cater to varying needs of the individual. Opening up of the Insurance sector has also forced the LIC to tighten up its belt and deliver better service. All in all it has been a bonanza for the consumer.

Research Methodology THE MARKET SURVEY (QUESTIONNAIRE) A market survey was undertaken to get some knowledge about the working environment of organization, salary package, career path, for the employees and quality of work life does plays a pivotal role for the better men power and which kind is most powerful. This survey was undertaken Subhash Nagar of DELHI & DELHIs people and questionnaire method was used. SAMPLE SIZE The sample size for the survey conducted was 200 respondents SAMPLING TECHNIQUE Random sampling technique was used in the survey conducted. of the collected data. The data is also neatly presented with the help of statistical tools such as graphs and pie charts. Percentages and averages have also been used to represent data clearly and effectively. STUDY AREA The samples referred to Delhi City & Branch in Subhash Nagar, New Delhi City.

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CHAPTER 2

12

LITERATURE REVIEWS
1. Choosing the Right Career Path
By Michael Dylan July, 2007 http://www.woopidoo.com/articles/dylan/career-path.htm Choosing the right career path is one of the most defining decisions we can make in life. Our job not only says a lot about what kind of person we are, but will influence what type of car we drive, what kind of house we live in, the people we associate with, and more. But above all these things, is the fact that we spend most of our waking moments at work!. Which means that if our job does not fulfill us or does not allow us to pursue our life goals, than it is not the career we should spend the rest of our life doing.

We have to get clear about what it is that gives us fulfillment in life, what fascinates us, or what we are passionate about. Once our interests are defined, we have to think about what career paths are available in that area. Sometimes there will be clear paths to take, like when our passion is designing websites, the job options could be to become a web designer, web programmer, or similar positions. But other interests may need more creative ways of thinking, like if you are passionate about collecting rare coins, your path may not be so clear. You may have to look into several sources of income; Owning a coin dealership, writing a guide to collecting rare coins, having a website built, and/or selling coins online. Because of the responsibilities of modern life and the necessity of money to support our lifestyle and family, we can't just quit our job and immediately pursue our passion. It may take months or years of planning while we continue to work in our 9 to 5 job and bring in a regular wage. The important thing is that we are moving towards the goal of doing what inspires us in life. Without the clear focus and continual small steps towards achieving our dream job, we would just be kidding ourselves.

We may have to take evening or weekend classes, attend seminars, read books, or associate with people in your area of interest. If it's a product that you plan to sell, perhaps you could 13

start selling it from home, at weekend markets, or setting up a website to sell it from. When we're moving towards our dream job and have a clear path before us it makes our 9 to 5 job less of a problem. Rather than going to work each day and hating the things we do, we can appreciate the job for being a step towards doing what really inspires us. It is putting food on the table, paying the rent, and funding the way towards the right career path.

2. A recession-proof career path? Only for the lucky ones

By: Tim Harford 8th August, 2009. Source:- http://timharford.com/2009/08/a-recession-proof-career-path-only-for-the-lucky-ones/

How long will the economic downturn last? While some claim to see green shoots, others such as my colleague Martin Wolf see a slow and painful process ahead. I have little to add to that debate, but I can guarantee that for some of us, the impact of this downturn will last a lifetime. That is the conclusion I draw from the research of Till Marco von Wachter, an economist at Columbia University, who has been tracing the lasting effects of bad luck in the job market. Having to look for a job at the wrong time can force us into compromises whose repercussions can last years or even decades. For example, when von Wachter teamed up with two US government economists, Jae Song and Joyce Manchester, to study the experiences of those hurled into unemployment by mass layoffs in the 1982 US recession, they discovered horrendously long-lasting effects. The recession itself one often compared with todays downturn was savage, but it was over in less than two years. Yet von Wachter and his colleagues discovered that those who lost their jobs had incomes about 20 per cent lower than would otherwise be expected, even two decades later. 14

It is possible that this result is really capturing the effect of being a less productive (and thus expendable) worker, or of being trapped in a declining industry. But that is unlikely. Such mass layoffs are by their nature indiscriminate, and the researchers tried hard to compare like with like. The results remain robust and they match similar research done in Germany, and earlier studies in the US with smaller data sets. Why such a big effect? In part, it is a question of luck. Most people who have secured a decent, secure, full-time job have enjoyed a dose of luck in doing so. It is hard to get lucky twice, A similar problem lies in wait for those graduating during a recession. People have to make compromises, says von Wachter, which often means taking a stopgap job with a less glamorous employer, and trying to switch careers or switch employers later on. The longer this process takes, the longer the impact on the unlucky cohort of graduates.

3. Overcome Your Career Change Fear: 5 Expert Tips

By: Michael Jones February 1, 2007 Source:- http://blogs.payscale.com/content/2007/02/overcome_your_c.html If you're ready for a career change but haven't yet figured out how to get there, follow these tips from Harvard's Dr. Timothy Butler and life coach C.J. Liu. Before you know it, you'll be on your way to a new career.

1. Look at the issues that make you crave change and outline your goals. What are you satisfied with about your current situation? What are you dissatisfied with? Is it your boss or the culture of your organization? Or do you really want to change careers? Outline your goals - for example, more money, more time off or more flexibility. Write it all down. 2. Work to understand 15 your inner critic

Observe thoughts that trap you with fear and prevent you from achieving your objectives. Write these down on a piece of paper, then crumple it up and throw it away to symbolize your freedom 3. work from Recognize environment thoughts that interfere with your in to you? goals and dreams. life it down.

recurring feel or not

patterns so good

your Write

What makes you happy? What are your recurring interests and social needs? What makes a

4. Network and investigate career interests that map to your goals and needs Once you've identified your patterns and desires, start thinking about careers that make sense for you. Give yourself one to three months to explore your curiosity by finding people who do these jobs and talking about the pros and cons of their work. Explore anything and everything until 5. you're Make a satisfied plan that takes or your until your time situation runs into out. account.

financial

Change is never simple, but having a plan that outlines your steps and financial requirements makes it doable. Will your new career require additional education, a small business loan, time off from work or relocation? Make a plan with financial considerations and a realistic timeline and that you can follow through on.

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4. Womens Careers Pathways & Pitfalls

By:- Suzanna Rose & Laurie Larwood Yaer 1998 Source:http://www.questia.com/read/28638447?title=Women%27s%20Careers%3a %20Pathways%20and%20Pitfalls A growing interest in women's careers has spread to personal, academic, and organizational life. The proliferation and quality of research on women and work that we saw as program chairs of the 1986 International Conference on Women and Organizations inspired us to edit this book. included here. Our goal was to select timely topics that had immediate relevance to career women, students, and scholars of women and work. Part I of the book begins with an introduction by the editors which highlights five major issues that affect working women and what has been learned about those issues in the 1980s. Other chapters are ordered thematically. In Part II, "Personal Career Planning," the themes touch on pathways and pitfalls confronting women as they plan their career strategies. In Chapters 2, 3, and 4, Shapiro and Farrow discuss the merits of mentors, Case analyzes women's speech, and Ely explores women's leadership styles, respectively; with an eye to how women can apply the information to their own work situation. Family relationships also have been shown to affect women's careers. In Chapter 5, "Husbands' Job Satisfaction and Wives' Income," and Chapter 6, "Have Women's Career and Family Values Changed?" questions are raised concerning the relationship between marriage, family, and careers. In Chapter 7, Chao and Malik present a career planning model which ties together individual, organizational, and societal constraints and facilitators of professional development. That highly successful conference was the source of several chapters

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5. Changing Careers for More Money

By: Ms. Liu May 21, 2009 Source:http://blogs.payscale.com/career-coach/2009/05/changing-careers-for-moremoney.html I read your article online, "Ask the Career Coach" on Payscale.com. I found it very interesting and helpful and will practice the steps you mentioned in order to find the job of my dreams. I am very dissatisfied at my current job. I am an office manager for a cigar distributor company. It is a small company; I am in the office most of the time by myself. I oversee all operations of the company. My role includes everything from answering phones, making sales, taking care of the books and conducting weekly meetings with sales staff in different states to packaging and shipping cigars, etc.

My employer is also in the process of starting a construction company, for which I am preparing all related documents and applications. I used to work with my current employer in a construction company he used to own prior to starting the cigar business. I am unhappy because I don't see any room for growth any time soon unless the construction company kicks off in the next few months. But I am thinking of now; I need change now. The salary is not bad but I want more and I don't foresee getting more any time soon. Also, my husband owns a subcontractor company. Its small but he has been in business for over 10 years. He owns the company along with his mother and brother. I help sometimes since I do have experience in construction, but can only help so much. I do not want them to feel like I want to take over. So I decided to start my own company with my husband to do jobs on the side with both of us keeping our current positions. That did not work since the license he has is already under his company's name. Now I would need a license in order for us to be able to pull permits under our company's license. So we are stuck in that sense and I am very disappointed that it did not go far. 18

6. Career paths of global managers: Towards future research

By: Tineke Cappellen & Maddy Janssens 12 September 2005. Source: http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6W5M-4H3939T1&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&_docanchor=&view=c&_searchStrId =997154270&_rerunOrigin=google&_acct=C000050221&_version=1&_urlVersion=0&_user id=10&md5=d748a3e12a1c4e2d409c9889f3f20dd6 The aim of this paper is to identify potentially productive areas where future research on global managers careers is warranted. Approaching career as a path, we conceptualize a global career path as an intersection of three domains: an individual, an organizational and a global environment domain. To identify, within each domain, the most important factors influencing a global career, we first conducted a review of the literature on boundaryless careers and global managers. This review allowed us to identify those factors that are most relevant to the changing nature of careers and global assignments. We then reviewed past empirical research on international careers to map how previous studies have addressed those factors, further guiding us to formulate directions for future research on global careers. As well as indicating these specific research implications, we propose a contextualized research approach that facilitates understanding of different career moves over time as well as the overall direction of a global career path.

CHAPTER 3
19

INTRODUCTION
THE INSURANCE INDUSTRY IN INDIA AN OVERVIEW
With the largest number of life insurance policies in force in the world, Insurance happens to be a mega opportunity in India. Its a business growing at the rate of 15-20 per cent annually and presently is of the order of Rs 1560.41 billion (for the financial year 2006 2007). Together with banking services, it adds about 7% to the countrys Gross Domestic Product (GDP). The gross premium collection is nearly 2% of GDP and funds available with LIC for investments are 8% of the GDP. Even so nearly 65% of the Indian population is without life insurance cover while health insurance and non-life insurance continues to be below international standards. A large part of our population is also subject to weak social security and pension systems with hardly any old age income security. This in itself is an indicator that growth potential for the insurance sector in India is immense. A well-developed and evolved insurance sector is needed for economic development as it provides long term funds for infrastructure development and strengthens the risk taking ability of individuals. It is estimated that over the next ten years India would require investments of the order of one trillion US dollars. The Insurance sector, to some extent, can enable investments in infrastructure development to sustain the economic growth of the country. (Source: www.indiacore.com)

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HISTORICAL PERSPECTIVE The history of life insurance in India dates back to 1818 when it was conceived as a means to provide for English Widows. Interestingly in those days insurance charged for Indian lives was more than the non - Indian lives, as Indian lives were considered more risky to cover. The Bombay Mutual Life Insurance Society started its business in 1870It was the same company to charge same premium for both Indian and non Indian lives. The Oriental Assurance Company was established in 1880. The General insurance business in India, on the other hand, can trace its roots to Triton Insurance Company Limited, the first general insurance company established in the year 1850 in Calcutta by the British. Till the end of the nineteenth century insurance business was almost entirely in the hands of overseas companies. Insurance regulation formally began in India with the passing of the life insurance Companies Act of 1912 and the Provident Fund Act of 1912. Several frauds during the 1920's and 1930's sullied insurance business in India. By 1938 there were 176 insurance companies. The first comprehensive legislation was introduced with the Insurance Act of1938 that strict State Control is there over the insurance business. The insurance business grew at a faster pace than other business. Indian companies strengthened their hold on this business but despite the growth that was witnessed, insurance remained an urban phenomenon. The Government of India in 1956, brought together over 240 private life insurers and provident societies under one nationalized monopoly corporation and Life Insurance Corporation (LIC) was born. Nationalization was justified on the grounds that it would create the much needed funds for rapid industrialization. This was in conformity with the Government's chosen path of State led planning and development. The non-life insurance business continued to thrive with the private sector till 1972. Their operations were restricted to organized trade and industry in large cities. The general insurance industry was nationalized in 1972. With this, nearly 107 insurers were amalgamated and grouped into four companies- National Insurance Company, New India Assurance Company, Oriental Insurance Company and United India Insurance Company. These were subsidiaries of the General Insurance Company (GIC).

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KEY MILESTONES
1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life

insurance business.
1928: The Indian Insurance Companies Act enacted to enable the government to collect

statistical information about both life and non-life insurance businesses.

1938: Earlier legislation consolidated and amended by the Insurance Act with the objective of

protecting the interests of the insuring public.

1956: 245 Indian and foreign insurers along with provident societies were taken over by the

central government and nationalized. LIC was formed by an Act of Parliament- LIC Act 1956with a capital contribution of Rs. 5 crore from the Government of India.

INDUSTRY REFORMS Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies. Since being set up as an independent statutory body the IRDA has put in a framework of globally compatible regulations. The other decision taken simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies was the launch of the IRDA online service for issue and renewal of licenses to agents. The approval of institutions for imparting training to agents has also ensured that the insurance companies would have a trained workforce of insurance agents in place to sell their products.

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PRESENT SCENARIO - LIFE INSURANCE INDUSTRY IN INDIA The life insurance industry in India grew by an impressive 47.38%, with premium income at Rs. 1560.41 billion during the fiscal year 2006-2007. Though the total volume of LIC's business increased in the last fiscal year (2006-2007) compared to the previous one, its market share came down from 85.75% to 81.91%. The 17 private insurers increased their market share from about 15% to about 19% in a year's time. The figures for the first two months of the fiscal year 2007-08 also speak of the growing share of the private insurers. The share of LIC for this period has further come down to 75 percent, while the private players have grabbed over 24 percent. With the opening up of the insurance industry in India many foreign players have entered the market. The restriction on these companies is that they are not allowed to have more than a 26% stake in a companys ownership. Since the opening up of the insurance sector in 1999, foreign investments of Rs. 8.7 billion have poured into the Indian market and 19 private life insurance companies have been granted licenses.

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WHO ARE THE COMPETITORS OF HDFC SLIC?

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CHAPTER 4

26

INTRODUCTION TO HDFC & STANDARD LIFE

HDFC
HDFC Incorporated in 1977 with a share capital of Rs 10 Crores, HDFC has since emerged as the largest residential mortgage finance institution in the country. The corporation has had a series of share issues raising its capital to Rs. 119 Crores. The gross premium income for the year ending March 31, 2007 stood at Rs. 2,856 Crores and new business premium income at Rs. 1,624 Crores. The company has covered over 31, 2007. HDFC operates through almost 450 locations throughout the country with its corporate head quarters in Mumbai, India. HDFC also has an International Office in Dubai, UAE with service associates in Kuwait, Oman and Qatar. HDFC is the largest housing company in India for the last 27 years. , 8, 77,000 lives year ending March

SNAPSHOT-I
Incorporated in 1977 as the first specialized Mortgage Company in India. Almost 90% of initial shareholding in the hands of domestic institutes and retail investors. Current 77% of shares held by foreign institutional investors. Besides the core business of mortgage HDFC has evolved into a financial conglomerate with holdings In: HDFC Standard Life insurance Company- HDFC holds 78.07 %. HDFC Asset Management Company HDFC holds 50.1% HDFC Bank- HDFC holds 22.25%. Intelenet Global (Business Process Outsourcing) HDFC holds 50% 27

 .HDFC Chubb General Insurance Company HDFC holds 74%.

SNAPSHOT-II
Loan Approvals (up to Dec 2007) Loan Disbursements (up to Dec. 2007) Housing Units Financed Distribution Offices Outreach Programs 181 90 Rs. 805 billion. (US $ 18.30 bn.) Rs.669 billion (US $ 15.20 bn) 2.5 million.

KEY PLAYERS
Mr. Deepak S Parekh is the Chairman of the Company. He is also the Executive Chairman of Housing Development Finance Corporation Limited (HDFC Limited). He joined HDFC Limited in a senior management position in 1978. He was inducted as a whole-time director of HDFC Limited in 1985 and was appointed as its Executive Chairman in 1993. He is the Chief Executive Officer of HDFC Limited. Mr. Parekh is a Fellow of the Institute of Chartered Accountants (England & Wales).

Mr. Deepak M Satwalekar is the Managing Director and CEO of the Company since November, 2000. Prior to this, he was the Managing Director of HDFC Limited since 1993. Mr. Satwalekar obtained a Bachelors Degree in Technology from the Indian Institute of Technology, Bombay and a Masters Degree in Business Administration from The American University, Washington DC.

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GROUP COMPANIES
HDFC Bank: World Class Indian Bank- among the top private banks in India. HDFC AMC: One of the top 3 AMCs in India- Preferred investment manager. Intelenet Global: BPO services for international customers. CIBIL: Credit Information Bureau India Limited. HDFC Chubb: Upcoming Private companies in the field of General Insurance. HDFC Mutual Fund HDFC reality.com: Helps to search properties in all major cities in India HDFC securities

STANDARD LIFE
Standard Life is Europes largest mutual life assurance company. Standard Life, which has been in the life insurance business for the past 175 years is a modern company surviving quite a few changes since selling its first policy in 1825. The company expanded in the 19 th century from kits original Edinburgh premises, opening offices in other towns and acquitting other similar businesses. Standard Life Currently has assets exceeding over 70 billion under its management and has the distinction of being accorded AAA rating consequently for the six years by Standard and Poor. 29

SNAPSHOT
Founded in 1875, company supporting generation for last 179 years. Currently over 5 million Policy holders benefiting from the services offered. Europes largest mutual life insurer.

JOINT VENTURE

Country of registration or Share class Name incorporation and proportion held Year end Nature of business Heng An Standard Life China Ordinary shares 50.0% 31 Dec Life assuranceHDFC Standard Life Insurance Company Limited** IndiaOrdinary shares 18.6% 31 Mar Life assuranceHDFC Asset Management Company Limited* ** India Ordinary shares 49.9% 31 Mar Investment management* Owned by a subsidiary undertaking of the Company.** The Company also has a 14.5% interest in Housing Development Finance Corporation Limited (HDFC Limited). HDFC Limited owns 81.4% and 50.1%of HDFC Standard Life Insurance Company Limited and HDFC Asset Management Company respectively. This gives theGroup an effective interest in thesecompanies of 30% and 57% respectively. The Company does not exercise dominant influence over either of these joint ventures.The current operations of these companies are not significant in relation to the accounts of the Group.

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CHAPTER 5

31

HDFC STANDARD LIFE INSURANCE COMPANY LIMITED

INTRODUCTION HDFC Standard Life Insurance Co. Ltd was incorporated on 14th august 2000. It is a joint venture between HousingDevelopment Finance Corporation Limited (HDFC Ltd.) India And UK based Standard Life Company. Both the joint venture partners being one of the leaders in their respective areas came together in this 81.4:18.6 joint venture to form HDFC Standard Life Insurance Company Limited. Mr. Deepak Satwalekar is the MD and CEO of the venture.HDFC Standard Life brings to you a whole range of insurance Solutions be it group or individual or NAV services for Corporations, they can be easily customized as per specific needs. HDFC Standard Life Insurance India boasts of covering around 8.7 lakh lives by March'2007. The gross incomes standing at a whopping Rs. 2, 856 crores, HDFC Standard Life Insurance Corporation is sure to become one of the leaders and the first preference for any life insurance customer. HDFC Standard Life Insurance Company Ltd. offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), Indias leading housing finance institution and one of the subsidiaries of Standard Life plc, leading providers of financial services in the United Kingdom. The Standard Life group has been looking after the financial needs of customers for over 180 years. It is a leading pensions provider in the UK. Both the promoters are well known in their respective fields of activities. For more details you may log on to http://www.hdfcinsurance.com

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HDFC Standard Life Insurance Company Limited was one of the first companies to be granted license by the IRDA to operate in life insurance sector. Reach of the JV player is highly rated and been conferred with many awards. HDFC is rated AAA by both CRISIL and ICRA. Similarly, Standard Life is rated AAA both by Moodys and Standard and Poors. These reflect the efficiency with which HDFC and Standard Life manage their asset base of Rs. 15,000 Cr and Rs. 600,000 Cr. respectively. HDFC Standard Life Insurance Company Ltd was incorporated on 14 th August 2000. HDFC is the majority stakeholder in the insurance JV with 81.4% staple and Standard of as a staple 18.6% Mr. Deepak Satwalekar is the MD and CEO of the venture. HDFC Standard Life Insurance Company Ltd. Is one of Indias leading Private Life Insurance Companies, which offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.) Indias leading housing finance institution and the Standard Life Assurance Company, a leading provider of financial services from the United Kingdom. Both the promoters are will known for their ethical dealings and financial strength and are thus committed to being a long-term player in the life insurance industry- all important factors to consider when choosing your insurer.

BUSINESS GROWTH
HDFC Standard Life, one of Indias leading private life insurance companies declared its annual results for the financial year ending March 31, 2009. The company generated Total Premium Income of Rs. 5564.69 crores in FY2008-09 registering a year-on-year growth of 15%. The growth was primarily driven by the companys structured sales processes based on customer needs and their assessments, wide range of product portfolio and diverse distribution network. Mr. Paresh Parasnis, Principal Officer and Executive Director, said, The financial year 200809 was a defining year with the unfolding of several unexpected events sharp correction in financial markets and a spread of recessionary trends. These events also had an impact on the Indian life insurance industry. We are happy that our new policies issued grew by 16% over 33

the last year. However, given the uncertainty in the overall scenario, customers have reduced their annual premium commitment on new policies. At the same time, existing policies continued to be in force reflected in our renewal premium, which posted a healthy growth of 34%. In line with overall market conditions, growth in Effective Premium Income (EPI) in respect of retail business increased by 5%, growing from Rs. 2,425 crores in 2007-08 to Rs. 2,552 crores in 2008-09. HDFC Standard Life tracks its New Business Premium on the basis of Effective Premium Income (EPI). EPI is calculated by giving only a 10% value to a Single Premium policy and is an internationally accepted indicator of an insurance companys performance. HDFC Standard Life maintained its healthy pipeline of products last year by launching11 products apart from slashing the premium rates of its Term Assurance Plan premium rates by about 25% across different age bands. Our entry into the health insurance market last year with the launch of two products Surgi Care and Critical Care was a significant move in line with our business objective. The low penetration of health insurance in India gives us a tremendous opportunity to provide quality health insurance. Our health products along our complete range of life insurance and pensions portfolio meet almost every aspect of an individuals requirements, Mr. Parasnis added.

KEY STRENGTH
Financial Expertise
As a joint venture of leading financial services group. HDFC standard Life has the financial expertise required to manage long-term investments safely and efficiently.

Range of Solutions
HDFC SLIC has a range of individual and group solutions, which can be easily customized to specific needs. These group solutions have been designed to offer complete flexibility combined with a low charging structure.

Strong Ethical Values:

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HDFC SLIC is an ethical and Cultural Organization. False selling or false commitment with the customers is not allowed.

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Most respected Private Insurance Company

HDFC SLIC was awarded No-1 Private Insurance Company in 2004 by the World Class Magazine Business World for Integrity, Innovation and Customer Care.

CORPORATE OBJECTIVE
Focus on the productivity of each consultant, corporate or individual, while stressing on the quality of proposals Quick roll out of Products Efficiency of Operations Meet Social & Rural sector obligations

VISION
'The most successful and admired life insurance company, which means that we are the most trusted company, the easiest to deal with, offer the best value for money, and set the standards. .

'The most obvious choice for all'.

VALUES
Values that we observe while we work: Integrity Innovation Customer People Care Teamwork Joy and Simplicity

36

BOARD MEMBERS
Brief profile of the Board of Directors Mr. Deepak S Parekh is the Chairman of the Company. He is also the Executive Chairman of Housing Development Finance Corporation Limited (HDFC Limited). He joined HDFC Limited in a senior management position in 1978. He was inducted as a whole-time director of HDFC Limited in 1985 and was appointed as its Executive Chairman in 1993. He is the Chief Executive Officer of HDFC Limited. Mr. Parekh is a Fellow of the Institute of Chartered Accountants (England & Wales). Mr. Keki M Mistry joined the Board of Directors of the Company in December, 2000. He is currently the Managing Director of HDFC Limited. He joined HDFC Limited in 1981 and became an Executive Director in 1993. He was appointed as its Managing Director in November, 2000. Mr. Mistry is a Fellow of the Institute of Chartered Accountants of India and a member of the Michigan Association of Certified Public Accountants. Mr. Alexander M Crombie joined the Board of Directors of the Company in April, 2002. He has been with the Standard Life Group for 34 years holding various senior management positions. He was appointed as the Group Chief Executive of the Standard Life Group in March 2004. Mr. Crombie is a fellow of the Faculty of Actuaries in Scotland. Ms. Marcia D Campbell is currently the Group Operations Director in the Standard Life group and is responsible for Group Operations, Asia Pacific Development, Strategy & Planning, Corporate Responsibility and Shared Services Centre. Ms. Campbell joined the Board of Directors in November 2005. Mr. Keith N Skeoch is currently the Chief Executive in Standard Life Investments Limited and is responsible for overseeing Investment Process & Chief Executive Officer Function. Prior to this, Mr. Skeoch was working with M/s. James Capel & Co. holding the positions of UK Economist, Chief Economist, Executive Director, Director of Controls and Strategy HSBS Securities and Managing Director International Equities. He was also responsible for Economic and Investment Strategy research produced on a worldwide basis. Mr. Skeoch joined the Board of Directors in November 2005. 37

 Mr. Gautam R Divan is a practising Chartered Accountant and is a Fellow of the Institute of Chartered Accountants of India. Mr. Divan was the Former Chairman and Managing Committee Member of Midsnell Group International, an International Association of Independent Accounting Firms and has authored several papers of professional interest. Mr. Divan has wide experience in auditing accounts of large public limited companies and nationalised banks, financial and taxation planning of individuals and limited companies and also has substantial experience in structuring overseas investments to and from India. Mr. Ranjan Pant is a global Management Consultant advising CEO/Boards on Strategy and Change Management. Mr. Pant, until 2002 was a Partner & VicePresident at Bain & Company, Inc., Boston, where he led the worldwide Utility Practice. He was also Director, Corporate Business Development at General Electric headquarters in Fairfield, USA. Mr. Pant has an MBA from The Wharton School and BE (Honours) from Birla Institute of Technology and Sciences. Mr. Ravi Narain is the Managing Director & CEO of National Stock Exchange of India Limited. Mr. Ravi Narain was a member of the core team to set-up the Securities & Exchange Board of India (SEBI) and is also associated with various committees of SEBI and the Reserve Bank of India (RBI). Mr. Deepak M Satwalekar is the Managing Director and CEO of the Company since November, 2000. Prior to this, he was the Managing Director of HDFC Limited since 1993. Mr. Satwalekar obtained a Bachelors Degree in Technology from the Indian Institute of Technology, Bombay and a Masters Degree in Business Administration from The American University, Washington DC. Ms. Renu S. Karnad is the Executive director of HDFC Limited, is a graduate in law and holds a Master's degree in economics from Delhi University. She has been employed with HDFC Limited since 1978 and was appointed as the Executive Director in 2000. She is responsible for overseeing all aspects of lending operations of HDFC Limited.

38

MARKET SHARE
HDFC Limited. HDFC is Indias leading housing finance institution and has helped build more than 23,00,000 houses since its incorporation in 1977. In Financial Year 2003-04 its assets under management crossed Rs. 36,000 Cr. As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The depositor base now stands at around 1 million depositors. Rated AAA by CRISIL and ICRA for the 10th consecutive year Stable and experienced management High service standards Awarded The Economic Times Corporate Citizen of the year Award for its long-standing commitment to community development. Presented the Dream Home award for the best housing finance provider in 2004 at the third Annual Outlook Money Awards. Standard Life Group (Standard Life plc and its subsidiaries) The Standard Life group has been looking after the financial needs of customers for over 180 years It currently has a customer base of around 7 million people who rely on the company for their insurance, pension, investment, banking and health-care needs Its investment manager currently administers 125 billion in assets It is a leading pensions provider in the UK, and is rated by Standard & Poor's as 'strong' with a rating of A+ and as 'good' with a rating of A1 by Moody's Standard Life was awarded the 'Best Pension Provider' in 2004, 2005 and 2006 at Money Marketing Awards, and it was voted a 5 star life and pensions provider at the the

Financial Adviser Service Awards for the last 10 years running . The '5 Star' accolade has also been awarded to Standard Life Investments for the last 10 years, and to Standard Life Bank since its inception in 1998. Standard Life Bank was awarded the 'Best Flexible Mortgage Lender' at the Mortgage Magazine Awards in 2006

39

MILESTONES IN THE HISTORY

HDFC is Indias leading housing finance institution and has helped build more than 23, 00,000 houses since its incorporation in 1977. In Financial Year 2003-04 its assets under management crossed Rs.36,000Cr. As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The depositor base now stands at around 1 million depositors. Rated AAA by CRISIL and ICRA for the 10th consecutive year Awarded The Economic Times Corporate Citizen of the year Award for its longstanding commitment to community development. Presented the Dream Home award for the best housing finance provider in 2004 at the third Annual Outlook Money Awards HDFC Standard Life Insurance is the first private life insurance company to be granted a license by IRDA Rated as the "Best New Insurer - 2003" by Outlook Money magazine, Indias number 1 personal finance magazine Rated by Business world as Indias Most Respected Private Life Insurance Company in 2004. 47 Has the highest brand recall, close to 80% (Source: AC Neilson ORGMARG, April 2005) Has one of the widest branch networks with offices in over 100 cities servicing over 440 towns

40

PRODUCTS & SERVICES

The right investment strategies won't just help plan for a more comfortable tomorrow -- they will help you get Sar Utha ke Jiyo. At HDFC SLIC, life insurance plans are created keeping in mind the changing needs of family. Its life insurance plans are designed to provide you with flexible options that meet both protection and savings needs. It offers a full range of transparent, flexible and value for money products. HDFC SLIC products are modern and contemporary unitized products that offer unique customer benefits like flexibility to choose cover levels, indexation and partial withdrawals. (Source: www.hdfcslic.com)

41

Innovative products, smart marketing, and aggressive distribution have enabled fledgling private insurance companies to sign up Indian customers faster than anyone expected. Indians, who had always seen life insurance as a tax saving device, are now suddenly turning to the private sector and snapping up the new innovative products on offer. Some of these products include investment plans with insurance and good returns (unit linked plans), multi purpose insurance plans, pension plans, child plans and money back plans. (www.wikipedia.com)

42

Products of HDFC standard life insurance

Individual Group Social Individual Products We at HDFC Standard Life realize that not everyone has the same kind of needs. Keeping this in mind, we have a varied range of Products that you can choose from to suit all your needs. These will help secure your future as well as the future of your family. Protection Plans You can protect your family against the loss of your income or the burden of a loan in the event of your unfortunate demise, disability or sickness. These plans offer valuable peace of mind at a small price. Our Protection range includes our Term Assurance Plan & Loan Cover Term Assurance Plan. Investment Plans Our Single Premium Whole Of Life plan is well suited to meet your long term investment needs. We provide you with attractive long term returns through regular bonuses. Pension Plans Our Pension Plans help you secure your financial independence even after retirement. Our Pension range includes our Personal Pension Plan, Unit Linked Pension, Unit Linked Pension Plus Savings Plans Our Savings Plans offer you flexible options to build savings for your future needs such as buying a dream home or fulfilling your children immediate and future needs. Our Savings range includes Endowment Assurance Plan, Unit Linked Endowment, Unit Linked Endowment Plus, Unit Linked Endowment Plus II,

43

Unit Linked Enhanced Life Protection II, Children's Plan, Unit Linked Young Star, Unit Linked Young Star Plus, Unit Linked Young Star Plus II.

44

Group Products One-stop shop for employee-benefit solutions HDFC Standard Life has the most comprehensive list of products for progressive employers who wish to provide the best and most innovative employee benefit solutions to their employees. We offer different products for different needs of employers ranging from term insurance plans for pure protection to voluntary plans such as superannuation and leave encashment. We now offer the following group products to our esteemed corporate clients: Group Term Insurance Group Variable Term Insurance Group Unit-Linked Plan

An investment solution that provides funding vehicle to manage corpuses with Gratuity, Defined Benefit or Defined Contribution Superannuation or Leave Encashment schemes of your company Also suitable for other employee benefit schemes such as salary saving schemes and wealth management schemes Social Product Development insurance plan Development Insurance plan is an insurance plan which provides life cover to members of a Development Agency for a term of one year. On the death of any member of the group insured during the year of cover, a lump sum is paid to those member beneficiaries to help meet some of the immediate financial needs following their loss. Eligibility Members of the development agency and their spouses with: Minimum age at the start of the policy 18 years last birthday Maximum age at the start of policy 50 years last birthday 45

ADVERTISEMENT AND SALES PROMOTION

Film opens in the compound of a house. Father is checking something inside the bonnet of an old small car. His daughter, around 27-28 years old, is working on a lap top next to him

Daughter: Dad. Father: Bolo Daughter: Nayi car lene mein hee bhalaai hai. Dad nods in agreement without looking up. Dad: Hmmm

Daughter continues affirmatively as she signs on a cheque. Daughter: Aur wo bhi badi wali.

Dad looks at her Dad: Huh, Badi kyon?

and

asks.

Dad doesnt know what to say as he looks at the cheque. Daughter pleads: Pleasedad

Daughter: Relax dad, plan kiya. Dad doesnt know what to say: Par...

46

Super: Unit Linked Savings Plans MVO: Unit Linked Savings Plans from HDFC Standard Life. zimmedari nibhao, Aaj bhi kal bhi

Father daughter are MVO: Sar Utha Ke Jiyo.

sitting.

47

FINANCIAL PERFORMANCE
HDFC Standard Life, one of the leading private life insurance companies in India declared its annual results for the financial year ending March 31, 2008. The company generated New Business Premium Income of Rs. 2,685 crores in FY2007-08 registering a year-on-year growth of 63%. The growth was primarily driven by the success of the company's initiative on structured sales processes based on customer needs and their assessments. HDFC Standard Life, one of the leading private life insurance companies in India declared its annual results for the financial year ending March 31, 2008. The company generated New Business Premium Income of Rs. 2,685 crores in FY2007-08 registering a year-on-year growth of 63%. The growth was primarily driven by the success of the companys initiative on structured sales processes based on customer needs and their assessments. Mr. Deepak Satwalekar, MD & CEO, HDFC Standard Life attributed this growth to the quality of life insurance solutions offered by the company and its increased geographical reach. He also emphasised, We believe that our success is a result of our efforts in giving customers, the best long-term solutions to take care of their insurance needs. Our endeavour to provide high quality insurance and pension solutions to customers through quality pre-sales advice, based on a sound need-based solutions approach, and post-sales service has started to pay off. Highlights of Financial Year 2007-08 New Business Premium Income up by 63% to Rs. 2,685 crores. Total Premium Income is up by 70% at Rs. 4,859 crores as against Rs. 2,856 crores in FY2006-07 Alternate Channels including bancassurance has recorded an impressive growth of over 63% to contribute 41% to the Effective Premium Income (EPI) Group business funds under management have increased to Rs. 959 crores, registering a growth of 83% over FY2006-07 The average premium has increased to Rs. 33,000 Company products and services are now available in 726 cities and towns across the country 48

Strength of Financial Consultants has increased to 1,45,000.

HDFC Standard Life tracks its New Business Premium on the basis of Effective Premium Income (EPI). EPI is calculated by giving only a 10% value to a Single Premium policy and is an internationally accepted indicator of an insurance companys performance. The total premium income (including renewal premium) grew by 70% to touch a figure of Rs. 4,859 crores. High levels of persistency have resulted in higher level of renewal premiums. Although there has been a slight dip from 89% to 86%, we continue to have the highest persistency level in the industry. The cumulative sum assured for all policies issued upto March 31, 2008 crossed Rs. 87,000 crores. In offering unit linked products, the structured sales process adopted by the company has paid rich dividends. We believe that we should be able to lengthen the maturity profile of our policy portfolio, now that the regulatory disincentive has been removed with effect from April 1, 2008, added Mr. Satwalekar. HDFC Standard Life offers, both, life insurance policies as well as pension products on a unit linked platform as also the conventional with profits platform. Over 50% of the sum assured as on March 31, 2008, is in respect of non unit-linked policies. Over 30% of funds under management are in respect of non-linked business, which reflects the balanced book between conventional and unit-linked business in the total portfolio of the company. The companys national relationships with large public and private sector banks have also helped it reach out to a larger number of customers across the country. The company plans to further strengthen these relationships through the introduction of products specially designed for this channel. HDFC Standard Life continues to have one of the widest reaches among new insurance companies. The company strengthened its number of offices from 103 to 572 across the country in less than 3 years. Through these offices, the company today services customer needs in over 726 cities and towns. The company also increased its depth in existing markets by increasing its Financial Consultant strength from 74,000 as on March 31, 2007 to 1,45,000 49

as on March 31, 2008. There has been a huge jump of 300% over the last 3 years in the number of its Financial Consultants who have qualified to become members of the prestigious Million Dollar Round Table (MDRT) Club. The strength of MDRT qualified members has gone up to 496 as on December 31, 2007. As against the regulatory requirement of writing 18% of all policies in rural areas, HDFC Standard Life has issued over 217,000 policies accounting for 23% of all policies issued during 2007-08. Additionally, during 2007-08, HDFC Standard Life has covered 51,326 lives under the social sector category, as against the requirement of 25,000 lives. Overall, the company has covered over 9,59,000 lives during the year ending March 31, 2008. To meet the demands arising from the companys rapid growth, shareholders have contributed additional Rs. 470 crores of equity to take the paid-up share capital as on March 2008 to Rs. 1,271 crores. HDFC Standard Life, one of the leading private life insurance companies in India declared its annual results for the financial year ending March 31, 2008. The company generated New Business Premium Income of Rs. 2,685 crores in FY2007-08 registering a year-on-year growth of 63%. The growth was primarily driven by the success of the company's initiative on structured sales processes based on customer needs and their assessments.

50

FUTURE PLANS
HDFC Standard Life, plans IPO in '09 Mumbai, HDFC has booked a profit of around Rs 120 cr in a Rs 200 cr transaction involving sale of 7.15% stake in HDFC Standard Life to its British partner. The promoters of HDFC Standard Life have said also said that they will dilute stake through an IPO before 2009. New HDFC Standard Life policy Mumbai, HDFC Standard Life has launched a new product called "Unit Linked Wealth Maximiser Plus". This is a single premium investment cum protection plan, with a minimum premium of Rs 1 lakh. The policyholder has the option to choose from five fund options Money Plus Fund, Bond Opportunities Fund, Large-cap Fund, Mid-cap Fund, and Manager's Fund. HDFC Standard Life will offer regular loyalty units of 0.10 per cent every year as long as the policy is not surrendered. The accumulated value of the funds is received at the end of the policy term. In the event of unfortunate demise of the policyholder during the policy tenure, HDFC Standard Life will pay the greater of the Sum Assured (less all applicable withdrawals) and the total fund value to the family members of the policyholder. The policy offers life insurance cover until the age of 99 years

51

CHAPTER 6

52

CAREER PATH IN HDFC SLIC

HDFC Standard Life Insurance Company Ltd. is one of India's leading private insurance companies, which offers a range of individual and group insurance solutions and providing the career opportunities to its employees. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), India's leading housing finance institution and a Group Company of the Standard Life, UK. HDFC as on December 31, 2007 holds 72.38 per cent of equity in the joint venture.

CAREER PATH
Channel Development Department Department Sales

Area Manager Channel Development Manager (CDM) Channel Development Recruitment Consultant

Territory Manager Business Development

Sales Development Manager (SDM)

53

Financial Consultant (FC)

The Career Path in HDFC Standard Life Insurance Company Ltd. mainly has two operations in its all branches. HDFC Standard Life Insurance Company Ltd. has divided its operation into two departments for the better management. These departments are: Channel Development Department 1. Area Managers 2. Channel Development Managers 3. Channel Development Executives 4. Recruitment Consultant Sales Department 1. Territory Manager 2. Business Development Managers 3. Sales Development Managers 4. Financial Consultants

Channel Development Department

Channel Development Department is department which plays a major role in the organization. This department is engaged in recruiting the effective and efficient FCs for the organization so the people they are recruiting is capable to bring the business for the organization and fulfill the organizational goals and objectives. Recruiting the FCs not only task for the channel development department but to provide the IRDA training to the selected candidate and preparing for the IRDA exams for getting the IRDA license. After getting the IRDA license a candidate is able to sell the insurance product and become the Financial Consultant, and he/she transferred to the sales department for the further process.

54

Role of CDMs & CDEs

1. Team building The first step for any CDM is make a team for the recruitment process. A CDM can use the different resource for the recruitment like Recruitment Consultants, Project Trainees, E2E vendors & RPs. Through these resource of recruitment a CDM can move for the further process. 2. Training & Induction The next step is to provide the training & induction programs for his/her team (i.e. recruitment resource) and he/she should has to do field work with his/her team. 3. Planning & Implementation of Lead Generation Activities. A CDM required minimum one BOP per week, he can use the canopy, road shows, BTL activities as well for better recruitment for the organization. 4. Resource Motivation and Drive. One Vendor Review meet per Week ( Channel Development Manager to Review) One Vendor Meet per Month( AM-CD to Address) Felicitation & Rewards to top performers 5. IRDA Training & Examination A CDM has to arrange FCs 50 hours training tracking through LC & RCs. and IRDA Examination Tracking through LC & RCs and increasing I/O Ratio. 6. MIS & Documentation A CDM keeps the records of documentation of vendor contracts & payment modes and MIS on recruitment & licensing Of FC BM/TM wise Keeping an Eye on first Business track,activisation through LC and HO Biz Update. 7. Relationship Management at Local Level A CDM has to be regular branch visits to keep the better relationship with local level: Relationship Management( RM,TM,BM,SDM & Ops) Allocation of FCs through TM/BM Retail FC Recruitment, Licensing & Business Updates to Retail functions Updating Ops-Agency Co-Ordinator on Process Changes

8. Checking Quality Parameters Q Score 55

Q Score >3 is not allowed FC Pre Login Interview Sheet Fulfillment of RI documents

9. Recruitment Activity Monitor Ensure you update RAM daily 100 % adherence

Sales Department

Sales Department is the most important department for any organization, without it no organization move further. All the business is depends on the sales department and all the operations are done for promoting the sales. So i.e. the better management and better sales executive are require for increasing the sale of Insurance products (Insurance Policies). The Territory Manager monitors the branch and all the BDMs are the subordinate of him. TM keeps the eyes on all the activities or a branch and his/her subordinates like BDMs, SDMs, CDMs, FCs and others. The Channel Development department helps in recruiting the best

Financial Consultant to the organization so he/she would be able to take more business (large amount of Premiums) and helps in achieving the organizational goal. After getting the IRDA licence FCs are transferred to sales department from cha nnel development department under different SDMs & BDMs. Then sales department provides them product and other training which can make them to go in the market and to sell the insurance policies.

Be a Financial Consultant Be a part of HDFC Standard Life Insurance Company Ltd. and grab the unlimited
opportunities and enjoy the reward, recognition and many more

Tap into an unlimited earning potential Utilize spare time productively

56

 Get National & International Recognition Invest time and not money* Build stronger and life-long relationship Reinvent your life

57

BUSINESS DESCRIPTION
Be our Certified Financial Consultant Join HDFC Standard Life Insurance as a Financial Consultant and help analyze your customers financial needs, provide customized financial solutions to each one and conduct reviews on a regular basis to keep your customers on track. Along with being a great career move you get associated with HDFC Standard Life Insurance, Indias Most Respected Private Life Insurance Company. We at HDFC Standard Life also offer you unmatched support with various training programmes to help you excel in your endeavour. A great career move in every way Zero investment, there is no start-up capital. You can work full-time or part-time, depending on your convenience Sunrise industry Support every step of the way At HDFC Standard Life, training is an inherent element of our support system - at no extra cost - for our new Financial Consultants EXCELLENT OPPORTUNITY

Join HDFC Standard Life Insurance as a Financial Consultant and earn a rewarding career Flexible work timings You can work whenever you like. You can work full-time or part-time, depending on your convenience. However, the time you invest will determine your success

Any one can join - Young graduates, Housewives, Retired Personnel, Self-employed or Working Professionals.

Zero Investment - There is no start-up capital required. Be your own boss with flexible working environment, unlimited earning potential and opportunities to be part of a world class sales team.

Attractive Remuneration - Company offers excellent commissions, award and rewards for the performers. You have unlimited earning potential. Commission structure is pretty handsome and is 15-40% and renewal commission of 5% second year onwards till the policy is in force. 58

Certificate by IRDA- You will get world class training free of cost and certification by Insurance Regulatory Development Authority.

TRAINING- Perfects your knowledge about the insurance industry as well as our products IRDA Training- Prepares you for your career as a Financial Consultant and enables you to pass the IRDA examination easily Disha Training- Hones your selling skills, enables you to understand customer needs and provide need-based insurance solutions Advanced Training- Upgrades your capability and knowledge through sophisticated training programs customised for the changing world of financial products and markets

DESIRED PROFILE:
Age: 18 Yrs to 65 Yrs Education: Intermediate or more Experience: Not Mandatory Type of Job: Full Time or Part Time

JOB DESCRIPTION FOR FINANCIAL CONSULTANTS

Pre sales role Identifying prospective clients. Meeting prospective clients. Understanding the need of the client. Presenting solutions to client. Closing sales.

Post sales role Taking 1-2 references from the client

59

 Providing timely updates to the client for maintaining Lifelong relationship.

60

CHAPTER 7

61

RECRUITMENT PROCESS OF FCs

Fill up of Agency form

IRDA Training (100 hrs) IRDA Exam

Fail

Pass

Exit

Product Training

Traditional Pr. Product

ULIP

Internal Assessment

Fail Pass

62

Exit Certification
WHAT ARE THE ROLES OF A FINANCIAL CONSULTANT? Meet people and present services Understand their financial needs Customize Life Insurance Plans Provide efficient after-sale support Help customers protect their lifestyles, Realize their dreams and enjoy their lives

HDFC Standard Life Insurance Company Ltd. the World of Opportunities

HDFC Standard Life welcomes you in the world of opportunities, HDFC SLIC is providing the great opportunities to its employees and its Career Path in HDFC is the competitive edge in this competitive era. The HDFC SLIC has great opportunities: Our Team The Opportunities Choosing the right place/company Rewards Recognition and respect Support function Training Marketing Sales 63

 Unlimited Earnings

64

Our Team
HDFC Standard Life Insurance Company Ltd. has finest team over 70,000+ FCs (Financial Consultants) comprises of retired persons, Professionals, Brokers, housewives, students Entrepreneurs / Businessmen, Charted Accountants and salaried persons which is providing the competitive advantage to the organization to compete its competitors in the insurance sector as competitive human resource.

OUR TEAM COMPRISES OF

Retired Persons Professiona ls

Salarie d

Broke rs

Finest Team Of over 70,000 FCs

Charted Accounta

Housewive s

Student s

Entrepreneu rs /Businessme n

65

The Opportunities

HDFC SLIC is providing the opportunities not only for the limited people, the HDFC SLIC is providing the world wide opportunities to all people to support their family income, financial Independence, start business with zero investments, experience in the Financial domain, no work pressure, supplement income, complete/diversified product portfolio, lifelong relationships, build relationships with a noble cause, time flexibility and many more opportunities. HDFC SLIC providing opportunities to:-

Women Supplement family income Financial Independence

Young Entrepreneurs Start business with ZERO investment Own boss Hands-on experience in the financial domain

Financial Professionals Supplement income A complete/diversified product portfolio Build lifelong relationships

Retired Make your second innings stronger than first Build relationships with a noble cause 66

Financial Independence

Choosing the right place/company

HDFC Standard Life Insurance Company Ltd. is one of India's leading private insurance companies, which offers a range of individual and group insurance solutions and providing the career opportunities to its employees. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), India's leading housing finance institution and a Group Company of the Standard Life, UK. HDFC as on December 31, 2007 holds 72.38 per cent of equity in the joint venture. Why you should join the HDFC Standard Life Insurance Company Ltd. amongst all insurance companies: HDFC Standard Life Insurance Company Ltd. is the first Private Life Insurance Company to licensed by IRDA Large network of over 300 branches Over 10lacs. Satisfied customers Over 70,000 Financial Consultants Maximum no. of MDRT qualifiers

Rewards, Recognition and respect

HDFC Standard Life Insurance Company Ltd. is providing the rewards, recognition & respect to its family member for motivation and to create sprit of self belongingness so that the employees can able to give their potential to the company and to achieve the organizational goals and objective. For Increasing the productivity of the employees HDFC Standard Life Insurance Company Ltd. is providing the different facilities through rewards, recognition & respect: 67

 Star on Debut Club for newcomer FCs Clubs like Bronze, Silver, Gold & Centurion to enhance the earnings Monthly contests Toppers C lub Sales Conventions at Exotic locations MDRT, COT & TOT Eligibility

Support Function
HDFC Standard Life Insurance Company Ltd. has created a world class support functions which help its FCs to increase his earning. Thought you are your own boss but you are never alone, in case of need/help in this profession HDFC SLIC Support system is always with you. For example you are not able to convince your prospect due to some reason like information and other then you can take help from S.D.M.(Sale Development Manager) as well as B.D.M. (Business Development). HDFC SLIC has excellent training and development facilities and different Customer Contact programs which improves and sharps the knowledge, communication skills, convincing power and everything which would help you to increase the business or to aid sales of the organization. Support system: World class training Support of numerous Customer Contact Programs to aid sales On-field Support from the Sales team Strong Brand Recognition 24 hours Customer Support Superior Product Portfolio (Lowest Fund Management Charges) 68

Unlimited Earnings
Commission on issuance of every policy. Commission directly credited to bank account of FCs within 15 days. These commission varies from 7.5-40% according to plan. BASIC COMMISSION First year Commission payable on regular premium conventional policies issued on or after 21st march 2007

Name of the plan Endowment Assurance plan Money Back plan Childrens plan Term Assurance plan Lone cover Term Assurance plan Personal Pension Plan

1st year commission 40% 40% 40% 25% 25% 7.5%

RENEWAL COMMISSION: Renewal commission would be paid from the 2nd year onwards on regular premium policies. Renewal commission is not payable on single premium plans. Name of the plan Endowment Assurance plan Money Back Plan Childrens plan Lone cover Term Assurance Plan Term Assurance plan Personal Pension Plan 69 Renewal commission 2nd year onwards 5% 5% 5% 5% 5% 2%

BONUS COMMISSION Bonus commission would be payable on the first year premium received and adjusted on the regular premium policies under the following plans, 1.Endowment Assurance Plan 2.Money Back Plan 3.Childrens Plan 4.Term Assurance Plan 5.Lone Cover Term Assurance Plan Bonus commission is not payable on the single premium plans and on the policies issued under the Personal Pension Plan and all Unit Linked Plans. Bonus commission rate would depend on financial consultant crossing the minimum RNEP(Received Net Effective Premium) within one year.

Period

RNEP 1,00,000 1,50,000 2,25,000

Bonus commission % of the 1st year Premium received 5% 10% 15%

In one year

How do I earn, say, Rs. 25,000pm?

You need to sell Policy worth Average Premium Need to sell Need to meet at least 12 people. Rs. 1,25,000/Rs. 32,000/4 Policies i.e. 1person in 2 days

Art of Earning
70

 No. Of Policies Average Premium Incentive Earn Expected Business Growth

4 in a month (Yearly 50) Rs. 32,000/-yearly 20% in 1st Year & renewal 4% 20%

Year
1 2 3 4 5
*Indicative figures

Business
16.00 Lac 19.20 Lac 23.00 Lac 27.60 Lac 33.00 Lac

Commission
320000 384000 460000 552000 660000

Renewals
64000 140800 232800 343200

Total*
320000 448000 600800 784800

1003200

Eligibility Criteria to become a Financial Consultant

Minimum Eligibility Criteria (Any 3/5 Criteria required, first criteria being mandatory) Age : 18 and Above Education : 10th+2 or higher. Has spent > 3 years in the city of current residence. Income > 3 Lakhs per annum.

Pre-requisites required to become a Financial Consultant Should undergo IRDA Training for 50 hrs. Should Pass the pre-recruitment exam conducted by Insurance Institute of India.

71

Licensing Process
Step 1 : Registration Step 2 : IRDA Training Step 3 : IRDA Examination

Documentation Required for Acquiring a License Forms STEP 1 : REGISTRATION

Agency Application form Form VA Exam Form Agreement Copy ( all pages to be signed by the FC ) Know Your Customer ( KYC ) Addendum

Supporting Personal Documents required

9 Passport size photographs Age Proof Proof of Education Proof of Identity Proof of Residence PAN Card or PAN Application

Fee : Rs. 925 /- ( Off Line ) Fee : Rs. 825 /- ( On Line )

72

STEP 2 IRDA TRAINING

All Candidates have to undergo and complete 50 hours of IRDA Training.

Types of Training
1. Off Line (Class Room) Training 2. On Line Training IRDA Refresher Classes are conducted for the FC before the IRDA Exam.

STEP 3 IRDA EXAMINATION

Pre Recruitment Examination can be done by 2 Modes, 1. On line 2. Off line Exams are conducted by Insurance Institute of India (III)

73

CHAPTER 8

74

RESEARCH METHODOLOGY
RESEARCH METHODOLOGY All the findings and conclusions obtained are based on the survey done in the working area within the time limit. I tried to select the sample representative of the whole group during my job training. I have collected data from Chartered Accountants, Tax Consultants, Businessman, Share Brokers, Lawyers, Working Professionals, House Wives and Retired Persons in Pune. 1. OBJECTIVES OF RESEARCH PROJECT: PRIMARY OBJECTIVES: To recruit more and more Financial Consultant and to promote the benefits those are provided by HDFC Standard Life to its Financial Consultants To find the different way of recruiting and selecting the Financial Consultants who can produce more and fruitful results. To study awareness of the HDFC Standard life insurance SECONDARY OBJECTIVES: To determine the need and purpose of Financial Consultant. To understand the deciding criteria for people to become Financial Consultant. To collect and analysis the information of prospect candidates in order to make them appear in front of management so that they can be selected as Financial consultant. To offer suggestions based upon the findings. 2. RESEARCH PLAN: 1. Preliminary Investigation: In which data on the situation surrounding the problems shall be gathered to arrive at The correct definition of the problem. An understanding of its environment. 75

2. Exploratory Study: To determine the approximate area where the problem lies. 3 RESEARCH DESIGN: Research was initiated by examining the secondary data to gain insight into the problem. By analyzing the secondary data, the study aim is to explore the short comings of the present system and primary data will help to validate the analysis of secondary data besides on unrevealing the areas which calls for improvement. 4. DEVELOPING THE RESEARCH PLAN: The data for this research project has been collected through self Administration. Due to time limitation and other constraints direct personal interview method is used. A structured questionnaire was framed as it is less time consuming, generates specific and to the point information, easier to tabulate and interpret. Moreover respondents prefer to give direct answers. In questionnaires open ended and closedended, both the types of questions has been used. 5.COLLECTION OF DATA: 1: Secondary Data: It was collected from internal sources. The secondary data was collected on the basis of organizational file, official records, news papers, magazines, management books, preserved information in the companies database and website of the company. 2: Primary data: All the Chartered Accountants, Tax Consultants, Insurance Agents, Auto loan providers were personally visited and interviewed. They were the main source of Primary data. The method of collection of primary data was direct personal interview through a structured questionnaire.

6. SAMPLING PLAN:

Since it is not possible to study whole universe, it becomes necessary to take sample from the universe to know about its characteristics. 76

Sampling Units: Chartered Accountants, Tax Consultants, Lawyers, Business Man, Professionals and House Wives of Delhi. Sample Technique: Random Sampling. Research Instrument: Structured Questionnaire. Contact Method: Personal Interview.

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CHAPTER 9

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DATA ANALYSIS, INTERPRETATION & PRESENTATION

1.Your Age? TABLE Sr. No. Category No. of Respondents 1 2 3 4 Percentage

18-23 Years
24-29 Years 30-35 Years 35 & above Total

40 70 60 30 200

20% 35% 30% 15% 100% Base 200 respondents

GRAPH

Interpretation From the table and graph above it can be seen that 20% respondents age are 18 to 23 years. 35% respondents age are 27 to 29 years. 30% respondents age are 30 to 35 years. 15% respondents age are 35 to above years.

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

GRAPH

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

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

GRAPH

Interpretation From the table and graph above it can be seen that 25% respondents are Under graduate. 40% respondents are Graduate. 35% respondents are Post graduate.

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3. Number Of Years Are You in Delhi? TABLE Sr. No. Category No. of Respondents 1 2 Less than five years More than five years Total 78 122 200 39% 61% 100% Base 200 respondents Percentage

GRAPH

Interpretation From the table and graph above it can be seen that 39% respondents are in Pune is less than five years. 61% respondents are in Pune is more than five years.

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5. Your Occupation? TABLE Sr. No. Category No. of Respondents 1 2 3 Business Profession Service Total 40 108 52 200 20% 54% 26% 100% Base 200 respondents GRAPH Percentage

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

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6. Your annual household income? TABLE Sr. No. Category No. of Respondents 1 2 Less than 2 lacs Between 2 to 5 lacs Between 5to 8lacs More than 8 lacs Total 98 62 30 10 200 49% 31% 15% 5% 100% Base 200 respondents Percentage

GRAPH

Interpretation From the table and graph above it can be seen that 49% respondents annual household income is less than 2 lacs. 31% respondents annual household income is between 2 to 5 lacs. 15% respondents annual household income is between 5 to 8 lacs. 5% respondents annual household income is more than 8 lacs. 7. Are you a member of a club/gymkhana? 84

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

GRAPH

Interpretation From the table and graph above it can be seen that 42% respondents are member of a club/gymkhana. 58% respondents are not member of a club/gymkhana.

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8. What is your perception about insurance sector? TABLE Sr. No. Category No. of Respondents 1 2 3 4 Hard and lucrative Hard but not rewarding Smooth and rewarding No idea Total 60 18 82 40 200 30% 9% 41% 20% 100% Base 200 respondents Percentage

GRAPH

Interpretation From the table and graph above it can be seen that 30% respondents perception about insurance sector is Hard & lucrative. 9% respondents perception about insurance sector is hard but not rewarding. 41% respondents perception about insurance sector is Smooth & rewarding. 20% respondents perception about insurance sector that they have no idea. 9. Do you know about HDFC Standard Life Insurance? 86

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

GRAPH

Interpretation From the table and graph above it can be seen that 85% respondents are known about HDFC Standard life insurance. 15% respondents are not known about HDFC Standard life insurance.

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10. Do you have any Insurance Policy? TABLE Sr. No. Category No. of Respondents 1 2 Yes No Total 160 40 200 80% 20% 100% Base 200 respondents Percentage

GRAPH

Interpretation From the table and graph above it can be seen that 80% respondents have insurance policy. 20% respondents do not have insurance policy.

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11. Name of Insurance Company? TABLE Sr. No. Category No. of Respondents 1 2 LIC ICICI HDFC SLIC OTHERS Total 104 16 8 32 160 65% 10% 5% 20% 100% Base 160 respondents Percentage

GRAPH

Interpretation From the table and graph above it can be seen that 65% respondents are insured by LICI. 10% respondents are insured by ICICI. 5% respondents insured by HDFCSLIC. 20% respondents insured by OTHERS. 12. Do you hold any license of any insurance company? TABLE 89

Sr. No.

Category

No. of Respondents

Percentage

1 2

Yes No Total

70 130 200

35% 65% 100% Base 200 respondents

GRAPH

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

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13. Are you satisfied with the company? TABLE Sr. No. Category No. of Respondents 1 2 Yes No Total 42 28 70 60% 40% 100% Base 70 respondents Percentage

GRAPH

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

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14. Do you know about HDFC Standard Life Insurance recruitment policies related to financial consultant? TABLE Sr. No. Category No. of Respondents 1 2 Yes No Total 82 118 200 41% 59% 100% Base 200 respondents Percentage

GRAPH

Interpretation From the table and graph above it can be seen that 41% respondents are known about HDFC Standard Life Insurance recruitment policies related to financial consultant. 59% respondents are not known about HDFC Standard Life Insurance recruitment policies related to financial consultant. 15. Will you be interested to become Financial Consultant? 92

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

GRAPH

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

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16. Would you like to earn an additional income through a business opportunity with HDFC STANDARD LIFE? TABLE Sr. No. Category No. Of Respondents 1 2 Yes No Total 54 6 60 90% 10% 100% Base 60 respondents Percentage

GRAPH

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

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CHAPTER 10

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SWOT ANALYSIS
HDFC and Standard Life 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 beliefs and a strong relationship quickly formed. In October 1995, the companies signed a 3-year joint venture agreement. 1. STRENGTH 1. Domestic image of HDFC supported by Prudentials international image is strength of the company. 2. Strong and well spread network of qualified intermediaries and sales person. 3. Strong capital and reserve base. 4. The company provides customer service of the highest order. 5. Huge basket of product range which are suitable to all age and income groups. 6. Large pool of technically skilled manpower with in depth knowledge and understanding of the market. 7. The company also provides innovative products to cater to different needs of different customers. 2. WEAKNESS 1. Heavy management expenses and administrative costs. 2. Low customer confidence on the private players. 3. Poor retention percentage of tied up agents. 3. OPPORTUNITIES 1. Insurable population According to ING only 10% of the population is insured, which represents around 30% of the insurable population. This suggests more than 300m people, with the potential to buy insurance, remain uninsured. 2. There will be inflow of managerial and financial expertise from the worlds leading insurance markets. Further the burden of educating consumers will also be shared among many players.

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3. International companies will help in building world class expertise in local market by introducing the best global practices. 4. THREATS 1.Other Private Insurance Companies Also vying For The Same uninsuranced Population. 2.Big Public Secter insurance Companies Like LIC India, National insurance Company Ltd, Oriented Insurance Ltd, New India Assurance Company Ltd, And United Insurance Company Ltd. People Trust Them And go to them more. 3.Poaching of Customer by other companies. 4.Most People donot understand the need or are not willing to take insurance policies in general.

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CHAPTER 11

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CONCLUSIONS
HDFC Standard Life, the insurance arm of HDFC is expected to go on stream. Promoted by HDFC & Standard Life, already has good number of employees on board and is recruiting Financial Consultants heavily to take the headcount to many more. It is on the brim of increasing its client through its attractive schemes and offer. The project opportunities provided was market segmentation and identifying prospective clients in potential geographical location and for recruiting them as financial consultant so to explore new Business Opportunity. Through this project, it could be concluded that people are not much aware about the various benefit of being Financial Consultant that are currently prevailing in the insurance industry. Insurance was considered as unsought good which require hard core selling, but in changing trend in income and people becoming financially literate, the demand for insurance is increasing day by day. So, it is the company that first approaches gets its share of reward. Proper after sale service can help the advisors to generate more business. Gradually people are realizing the fact that insurance is not a necessary evil but means to attain worry free life. This activity much attract unemployed people as for them a source of income is a great help for developing there future. Companys promotional activities for recruiting Financial Consultant are also very less. So, at last the conclusion is that there is tough competition ahead for the company from its major competitors in terms of number of Financial Consultants. Last but not the least I would like to thank HDFC SLI for giving me an opportunity to work in the field of Financial Consultant. I hope the company finds my analysis relevant.

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CHAPTER 12

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SUGGESTIONS AND RECOMMENDATIONS

Finally some recommendations for the company are as fallows: To make people aware about the benefit of becoming HDFC Standard Lifes Financial Consultant, following activities of advertisement should be done through 1. Print Media. 2. Hoarding & Banners. 3. Stalls in Trade Fares 4. Distribution of leaflets containing details information. 5. Company can recruit sales promoters so that maximum information can be provided to the potential client. By showing additional and alternative income source along with various schemes for Financial Consultant in the company so that more and more FC can be recruited. Free life cover for every active Financial Consultant. Discounted rate premium for its family members. Make people understand about the meaning of the IRDA authorization and its validity. Company should organize the program in the society, so that people will be aware about the company Separate time slot for Working Professionals, House Wives and Retired people. Agency of non-life products should also be provided along with life. Company should open more branches in different cities The importance of alliances and tie-ups means that companies will have to integrate related but separate providers into their systems to ensure seamless delivery. Build strong relationship with intermediates such as agents. Advertise about the rural market as it has huge potential Create a positive perception about insurance Making purchase of policies a less cumbersome process Promote insurance in corporate houses and colleges. Attracting youth by educating about higher rate of return as compared to banks. 101

 Try to sell the plan according to his need and not according to the agents commission.

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CHAPTER 13

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BIBLIOGRAPHY
The following companies and associations web sites were referred while collecting information used in the research. 1 . INTERNET SOURCE http://www.hdfcinsurance.com http://www.google.co.in http://www.wikipedia.org/ http://www.money control.com http://www.licindia.com http://www.hdfcbank.com http://www.irdaindia.org http://www.woopidoo.com/articles/dylan/career-path.htm http://timharford.com/2009/08/a-recession-proof-career-path-only-for-the-lucky-ones/

2. BOOKS/MAGAZINES REFFERD Study Guide- Principles & Practices of Life Insurance By AIMA. Books Published By INSURANCE INSTITUTE OF INDIA. LIFE INSURANCE By Mc Gill. INSURANCEWATCH. MONEYOUTLOOK. 3. ARTCLE USED 1. CHOOSING THE RIGHT CAREER PATH Article by Michael Dylan http://www.woopidoo.com/articles/dylan/career-path.htm

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CHAPTER 14

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ANNEXURE

HDFC SLIC
26/1 DEWAN HOUSE, AJAY ENCLAVE, SUBHASH NAGAR, NEW DELHI-110027 Dear Sir/Madam, I am a student of LOVELY SCHOOL OF BUSINESS, LPU (PUNJAB) and presently doing a market survey MARKET RESEARCH ON FINANCIAL CONSULTANTS FOR HDFCSLIC, DELHI. I request you to kindly fill the questionnaire below and I assure you that the data generated shall be kept confidential. Name: .. Address: .. Contact No :( O) (M) City: ...............Pin: .State: . . 1. Your Age: ____________________ 2. Education Qualification. Undergraduate 3. Marital Status. Married No. of Children: __________ 4. Number Of years Are You in Delhi. Less than five years 5. Occupation. Business Profession Service (Please mention below the type of business/profession you are in incase of service please mention your organization name and designation) ______________________________________________________________________ 6.Your annual household income. <than 2 lack 107 Between 2 to 5 lack Between 5 to 8 lack >than 8 lack More than five years Single Graduate Post graduate

7.Are you a member of a club/gymkhana? Yes No If yes, Name of the club /gymkhana_______________________________________ 8. What is your perception about insurance sector? Hard &lucrative Smooth &rewarding 9. Do you know about HDFC SLIC? Yes Yes LIC No No ICICI HDFC SLIC OTHERS 10.Do you have any insurance policy? 11.Name insurance company? If others, please specify___________________________________________________ 12. Do you hold any license of any insurance company? Yes No If yes, please specify which company________________________________________ Reason______________________________________________________________ 13. Are you satisfied with the company? Yes No Reason specify_________________________________________________________ 14. Do you know about HDFC SLICs recruitment policies related to financial consultant? Yes Yes STANDARD LIFE? YES Date: Place: Signature 108 No No No 15. Will you be interested to become financial consultant? 16. Would you like to earn an additional income through a business opportunity with HDFC Hard but not rewarding No idea

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