Life Insurance Comparative

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CONTENT

1. INTRODUCTION6

2. EXECUTIVE SUMMARY7

3. OBJECTIVE OF THE STUDY8

4. COMPANY PROFILES9-13

5. DEPARTMENT OVERVIEW15-17

6. INSURANCE FUNCTION18-20

7. SOME TERMS ABOUT ULIP PLANS21-23

8. PRODUCT PROFILE24-44

9. TAXATION BENEFIT45-48

10. COMPARATIVE STUDY OF DIFFERENT FIRMS48-51

11. RESEARCH METHODOLOGY52-54

12. CONCLUSION & RECOMMENDATION55

13. BIBILOGRAPHY56

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INTRODUCTION

The project started with class room sessions involving lectures and interactions with the mentors Mr. Sanchit Sachdeva (SDM) and Mr. Hridesh Chauhan (BM). They explained all the plans available with HDFC SLIC in detail and the pension plan comparison of BIRLA SUN LIFE, BAJAJ ALLIANZ & LIC.

The classroom also involved role plays and games. The role plays and games involved students being asked to play the roles of customers or clients and that of a person trying to persuade the customer to go in for a plan with HDFC SLIC.

These class room lectures and role-plays helped me to gain a substantial understanding of the plans. This in turn helped me to effectively explain these plans to people whom I meet or took appointment to meet.

The connect of life insurance has undergone several changes over the years and what has myriad array of attractive options apart from the basic of life cover. Life insurance schemes also offer tax benefits. In today’s scenario life insurance solves the three objectives.

1. Security

2. Saving

3. Tax Benefit.

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EXECUTIVE SUMMARY

This project is based upon the fact & figure gathered from the websites about the plans of the firm.

In the first part of the report there are some plans which are frequently sold by HDFC SLIC in the market, and then comparative study of pension plan of different firm namely BIRLA SUN LIFE, BAJAJ ALLIANZ and LIC is there

.

In the last part of the project I have given some of the findings and conclusion about the life insurance market and what is the potential of the market. In the end I have give all the sources from which I have collected all the information.

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OBJECTIVE OF STUDY

1.Comparative study of HDFC SLIC, BIRLA SUN LIFE, BAJAJ ALLIANZ and LIC.

2. To analyze the pension plan on the basis of features offered.

3. To observe working of various departments of the organization.

.

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HDFC LIMITED
COMPANY PROFILE

HDFC was incorporated in 1977 with the primary objective of meeting a social need – that of promoting home ownership by providing long-term finance to households for their housing needs. HDFC was promoted with an initial share capital of Rs. 100 million.

Business Objectives

The primary objective of HDFC is to enhance residential housing stock in the country through the provision of housing finance in a systematic and professional manner, and to promote home ownership. Another objective is to increase the flow of resources to the housing sector by integrating the housing finance sector with the overall domestic financial markets.

Organizational Goals

HDFC’s main goals are to

a) Develop close relationships with individual households,

b) Maintain its position as the premier housing finance institution in the country, c) Transform ideas into viable and creative solutions, d) Provide consistently high returns to shareholders, e) To grow through diversification by leveraging off the existing client base.

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HDFC STANDARD LIFE The Partnership:
HDFC is an organization that strives for excellence, with the twin objectives of enhancing customer satisfaction and...
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