Bharti Axa Report
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Transcript of Bharti Axa Report
A REPORT ON
comparison between pension plan
of Bharti Axa and Hdfc standard
life insurance
(Jun 11-2009 to July 22- 2009)
Submitted To: Submitted by:
Manish Tayagi Ramakant gupta
Project Trainee
Poornima Group Of Colleges
Poornima Institute of Engineering & Technology (DMS)
ISI-2&6, RIICO institutional area, goner road, Sitapura, jaipur-22
1
Acknowledgement
About insurance
About the life insurance sector
Introduction of the company
Products and services
Distribution strategy of bharti axa life insurance
Conclusions
Future growth
Prospects and suggestions
References
2
We would like to take this opportunity to express our deep gratitude
to the person who made this project possible.
We are grateful to our project training advisor Mr. R.k Agarwal, who
showed us the right path to reach the final destination with minimum
hiccups and was always there with a helping hand in times of need
throughout our project.
I am also thankful to our project trainer Mr. Manish Tayagi with his all
training members who gave us knowledge practically with constantly
source of inspiration and encouragement also provided me with his
timely help and scholarly ideas in giving final shape to this report.
I am also very thankful to my friends who helped me in completion of
the project. I am thankful to that power that always inspires me to
take right step in the journey of success my life.
3
ABOUT INSURANCE
Definition of Insurance
Insurance is a contractual-type financial intermediary that offers the
public protection against the financial costs associated with the loss
of life, health, or property in exchange for premiums.
An agreement that guarantees the payment of a stated amount of
monetary benefits upon the death of the insured. Risk insurance
intended as protection against the financial consequences of the
death of the insured person, which takes the form of payment of a
previously agreed lump sum or pension to a beneficiary, if the insured
person dies during the term of insurance. In the case of pure life
insurance, without any endowment insurance component, no
payments are due if the insured person survives the term of
insurance. Insurance is that which provides protection against the
economic loss caused by the death of the person insured.
Insurance is a federal subject in India. The insurance sector has gone
through a number of phases and changes. Since 1999, when the
government opened up the insurance sector by allowing private
companies to solicit insurance and also allowing FDI up to 26%, the
insurance sector has been a booming market. However, the largest
life-insurance company in India is still owned by the government.
4
History
Insurance in India has its history dating back until 1818, when
Oriental Life Insurance Company was started by Anita Bhavsar in
Kolkata to cater to the needs of European community. The pre-
independent era in India saw discrimination among the life of
foreigners and Indians with higher premiums being charged for the
latter. In 1870, Bombay Mutual Life Assurance Society became the
first Indian insurance company covering Indian lives at normal rates.
At the dawn of the twentieth century, many insurance companies
were founded. In the year 1912, the Life Insurance Companies Act
and the Provident Fund Act were passed to regulate the insurance
business. The Life Insurance Companies Act, 1912 made it
necessary that the premium-rate tables and periodical valuations of
companies should be certified by an actuary. However, the disparage
still existed as discrimination between Indian and foreign companies.
The oldest existing insurance company in India is the National
Insurance Company Ltd., which was founded in 1906. It is in
business. Before that, the industry consisted of only two state
insurers: Life Insurers (Life Insurance Corporation of India, LIC) and
General Insurers (General Insurance Corporation of India, GIC). GIC
had four subsidiary companies.
5
With effect from December 2000, these subsidiaries have been de-
linked from the parent company and were set up as independent
insurance companies: Oriental Insurance Company Limited, New
India Assurance Company Limited, National Insurance Company
Limited and United India Insurance Company Limited.
Currently, in India only two million people (0.2 % of the total
population of 1 billion) are covered under Mediclaim, whereas in
developed nations like USA about 75 % of the total populations are
covered under some insurance scheme. With more and more private
companies in the sector, the situation may change soon.
6
Acts
The insurance sector went through a full circle of phases from being
unregulated to completely regulate and then currently being partly
deregulated. It is governed by a number of acts.
The Insurance Act of 1938 was the first legislation governing all forms
of insurance to provide strict state control over insurance business.
Life insurance in India was completely nationalized on January 19,
1956, through the Life Insurance Corporation Act. All 245 insurance
companies operating in the country were merged into one entity, the
Life Insurance Corporation of India.
The General Insurance Business Act of 1972 was enacted to
nationalize the about 100 general insurance companies and
subsequently merging them into four companies. All the companies
were amalgamated into National Insurance, New India Assurance,
Oriental Insurance and United India Insurance, which were
headquartered in each of the four metropolitan cities. Until 1999,
there were not any private insurance companies in India. The
government then introduced the Insurance Regulatory and
Development Authority Act in 1999, thereby de-regulating the
insurance sector and allowing private companies. Furthermore,
foreign investment was also allowed and capped at 26% holding in
the Indian insurance companies.7
What is life Insurance?
Life Insurance is a contract providing for payment of a sum of money
to the person assured or, to the person entitled to receive the same,
on the happening of a certain event.
The Insurance Institute of America defines insurance as three things’.
First, insurance is a transfer technique whereby the insured transfers
the risk of financial loss to another party, the insurance company or
insurer. Second, it is a contract between the policyholder and the
insurer that states what financial consequences of loss are
transferred and expresses the insurer's promise to pay for those
consequences. Third, insurance is a business and, as such, needs to
be conducted in a way that earns a reasonable profit for its owners.
The money a policyholder pays an insurer is small compared to the
potential for loss. If a family's house were to burn down, they
probably could not afford to replace it without insurance. The
insurance system enables someone to transfer the financial
consequences of this loss to an insurance company. The insurance
company, in turn, pays for covered losses and distributes the costs
among all of its policyholders. In that way, your fellow policyholders
share the cost of your loss, as you share in theirs.
8
A family is dependent for its food, clothing and shelter on the income
brought by the family's breadwinner. The family is secure so long as
this breadwinner is alive and is capable of earning. A sudden death
(or disability) may leave the family in a financially difficult situation.
Uncertainty of death is inherent in human life and this uncertainty
makes it necessary to have some protection against the financial loss
arising from untimely death. Life insurance offers this protection.
The Greeks and Romans started the earliest type of life insurance.
Contributions were made by all surviving members for the burial cost
of a member. In case of the death of a member the cost of burial was
made out of the contributed fund.
In the 17th century, the Tontine Annuity system was introduced
where associations of individuals were formed without any reference
to age, and a fund was created by equal contributions from each
member. The sum collected was invested, and at the end of each
year the interest was divided among the survivors. The last remaining
survivor received both the year's interest and the entire amount of the
principal.
9
The first organized life insurance company was founded in 1759 in
Philadelphia, in North America. Subsequently, over the past three
centuries, numerous life insurance
Companies sprung up, making life insurance a popular tool for
protection coupled with investment.
Why do we need Life Insurance?
We need Life Insurance because typically the need for income
continues for those who are financially dependent on you, but there is
no guarantee of your ability to earn consistently and for the rest of
your life. Life insurance can help you safeguard the financial needs of
your family.
This need has become even more important due to steady
disintegration of the prevalent joint family system, and emergence of
nuclear families. The need to protect your family's ever growing
needs is why you need Life Insurance.
Replacement of Income
Life insurance products can provide support to the family and take
care of the family's financial requirements. It provides a lump sum or
periodic payments to help replace the income stream, in case of an
unfortunate event or an untimely demise of the breadwinner.
10
Lifestyle Maintenance
Life insurance products can help you build a corpus to protect and
maintain your lifestyle against fluctuations in your future income.
Costs of Education
You need to support your child with a sound educational
background, to help your child achieve his/her dreams. Life insurance
products can help you fulfill these needs, whether you are there or
not.
Retirement Expenses
Retirement is an age when an individual has fulfilled almost all his
responsibilities and looks forward to relaxing. Life insurance products
can help you lead a secure and tension free retired life by ensuring
that you get guaranteed pension.
Mortgage and Debt protection
With increasing consumerism and ever-rising demands, loans and
debts are now part of life. Life insurance products help you ensure
that your family is not unduly burdened with their repayments, in case
of an unfortunate event or an untimely demise of the breadwinner.
Hardships Protection
11
Life insurance provides a sense of security to the income earner and
to his/her family. Buying life insurance frees the individual from
various unnecessary financial burdens that can otherwise make one
spend sleepless nights.
Life Insurance V/S Other Investments
Most investment options make your money work harder, but
there are no substitutes to life insurance. Because only a life
insurance policy gives you both - risk cover against your life, as
well as returns on your money invested.
Life insurance allows long tem savings to be made in a
relatively painless manner because of the low and convenient
investments made through premiums. Moreover, it encourages
'forced thrift' which means the insured is made to pay premiums
and save money, which he/she may not do in the regular
course of life.
Should you require loans, say for building a house, it can be
easily obtained against a life insurance policy. Amongst the
12
most known benefits of Life Insurance is the savings on your
income taxes.
Life insurance cannot be compared with any other form of
investment as life insurance gives you a life long benefit and
returns on your money when it is most required.
Insurance premiums are linked to age of the life insured and the
earlier you buy, the lower are the premium requirements.
Besides, the money stays invested for a longer time and
thereby maximizing your returns through the power of rupee
compounding. So, a life insurance policy is an ideal tool to gain
security and ensure savings.
Most importantly it provides you with that unique sense of
security and peace of mind that no other form of investment
provides.
13
The Life Insurance Sector At A Glance
Overview
Economic growth in the emerging markets has time and again
outpaced the developed and industrialised countries. Alongside the
rising importance of emerging economies, their life insurance sectors
are also drawing more attention. It’s been four years since the life
insurance sector was opened up for private players in India. The
reasons that prompted the government to bring in reform in this
sector are well known. While the public sector life insurance
companies made enormous contribution in the spread of awareness
about insurance, and expanded the market, it was recognised that
their reach was still limited, the range of products offered restricted
and the service to the consumer inadequate. It was also felt that the
rapid economic growth witnessed in the 90s couldn’t be sustained
without a thriving insurance sector.
Today, the private sector accounts for nearly 20% of the market. The
market share of the private players has to be seen in the context of
this enlarged market. There has been a flurry of private players
providing a wide range of innovative products, services and
customised solutions. Emerging markets—such as China, India,
Mexico and Russia— are home to some 86% of the world’s
population. Collectively, they account for 23% of world economic
output. Yet, insurance business is underdeveloped in these markets.
14
In fact, India as a country is under-insured. Only 35% of the 250
million insurable population is insured. Exploiting the growth potential
of emerging insurance markets — India and China are in the
spotlight. Both the countries currently attract a lot of attention due to
their size, strong growth performance and favourable regulatory
changes. To begin with, India and China are the most populous
countries and both have sustained impressive economic growth in the
last decade. Between 1993 and 2003, annual real GDP growth
averaged 8.9% in China and 5.9% in India. Interestingly, both
markets have gone through a similar period of nationalisation of their
insurance business, although China revoked state monopoly earlier
than India.
As the life insurance sector evolves, we will see a lot of transparency
in products, costs. There will be a lot of value added services
provided by insurers: financial advice, add-on facilities. There will be
a revolution in term of the IT used and the level of automation. Also,
there will be faster query handling and other issues relating to policy
servicing can be made simpler.
The flux of new products is primarily a response to the recognition of
the latent needs of the consumers. Today’s consumer goes for ‘pure
term insurance and plans’, which give him insurance-cum-investment
as compared to endowment, and money-back plans.
15
Financial planning is key to winning a customer today. Whether
capital generation, retirement planning or pension options, private
insurers today make these available with options. As to the prospect
of the emerging insurance market in India, we are cautiously
optimistic. This optimism is mainly based on the country’s economic
growth, which is faster than in industrialised nations, and on its
insurance demand growth, which is tangibly in excess of the
underlying economic development.
Competitive pressures have increased and are reshaping the Indian
insurance landscape, leading to variety in products and channels.
Unit-linked products (Ulips) are surely the way ahead. Compared with
them, traditional policies have more to do with the long-term financial
planning. Traditional policies also offer flexibility in broad planning.
First, one should cover for the financial liabilities and human life value
and then graduate to Ulip and participatory plans. Identifying that
Ulips are the way ahead, we have introduced a unit-linked retirement
income plan, two safe investment plans, an easy growth plan and a
flexi plan.
A key catalyst in the Indian insurance market growth has been the
entry of foreign players. India has allowed foreign joint ventures to
obtain national licenses, although there is still a 26% limit on foreign
stake holding. One of the factors that will influence insurance
business development in India is; how are we going to manage our
high natural catastrophe exposures?. Impending reforms of the
16
pension systems in India is another key development, which will allow
private insurers to offer products to bridge the pension gap.
At every stage of life, a different plan may be required to cater to
changing financial needs and liabilities. However, the basic premise
of life insurance is coverage for life. Globally, mortality protection
accounts for roughly 80% of total risk premiums. In most markets,
there has been a trend of unbundling of savings and pure term
products, and term insurance has grown strongly over the past few
years.
In developed markets, like the US, UK and Australia, the term
products are widely sold and the penetration is higher. Following the
world-wide trends, Indian companies are also looking at introducing
innovative products. One such segment that they are in the process
of catering to is smokers and tobacco users. Our company, for
instance, has a preferred term plan for non-smokers and women.
The Banc assurance model is another successful distribution strategy
being adopted by many Indian companies, although variety of
distribution channels exist e.g. the traditional life-agency force,
insurance brokers, worksite marketing, corporate agents as well as a
proprietary sales force. Each channel has its own utility.
The Indian industry is at a nascent stage as far as insurance brokers
are concerned, and with development of the markets, insurance
broking will pay an important role in insurance distribution.
17
Another move in the life insurance industry has been that of full-time
advisors. The old mutual sales model runs on only full time life
advisors, none of them are working on a part time basis. A large
number of our life advisors are lawyers, advocates, teachers,
accountants, engineers or government employees. We are
witnessing a demographic change in the country, and the younger
generation which is exposed to the outside world, demands products
and services which are at par with what is available in the advanced
countries. This is the biggest challenge.
Insurance Companies in India
In India, Insurance is a national matter, in which life and general
insurance is yet a booming sector with huge possibilities for different
global companies, as life insurance premiums account to 2.5% and
general insurance premiums account to 0.65% of India's GDP. The
Indian Insurance sector has gone through several phases and
changes, especially after 1999, when the Govt. of India opened up
the insurance sector for private companies to solicit insurance,
allowing FDI up to 26%. Since then, the Insurance sector in India is
considered as a flourishing market amongst global insurance
companies. However, the largest life insurance company in India
The history of Insurance in India dates back to 1818, when Oriental
Life Insurance Company was established by Europeans in Kolkata to
cater to their requirements. Nevertheless, there was discrimination
among the life of foreigners and Indians, as higher premiums were
18
charged from the latter. In 1870, Indians took a sigh of relief when
Bombay Mutual Life Assurance Society, the first Indian insurance
company covered Indian lives at normal rates. Onset of the 20th
century brought a drastic change in the Insurance sector.
In 1912, the Govt. of India passed two acts - the Life Insurance
Companies Act, and the Provident Fund Act - to regulate the
insurance business. National Insurance Company Ltd, founded in
1906, is the oldest existing insurance company in India. Earlier, the
Insurance sector had only two state insurers - Life Insurers i.e. Life
Insurance Corporation of India (LIC), and General Insurers i.e.
General Insurance Corporation of India (GIC). In December 2000,
these subsidiaries were de-linked from parent company and were
declared independent insurance companies: Oriental Insurance
Company Limited, New India Assurance Company Limited, National
Insurance Company Limited and United India Insurance Company
Limited.
Insurance Companies In India
Bajaj Allianz Life Insurance Company Limited
Birla Sun Life Insurance Co. Ltd
HDFC Standard life Insurance Co. Ltd
19
ICICI Prudential Life Insurance Co. Ltd.
ING Vysya Life Insurance Company Ltd.
Life Insurance Corporation of India
Max New York Life Insurance Co. Ltd
Met Life India Insurance Company Ltd.
Kotak Mahindra Old Mutual Life Insurance Limited
SBI Life Insurance Co. Ltd
Tata AIG Life Insurance Company Limited
Reliance Life Insurance Company Limited.
Aviva Life Insurance Co. India Pvt. Ltd.
Shriram Life Insurance Co, Ltd.
Sahara India Life Insurance
Bharti AXA Life Insurance
Future Generali Life Insurance
IDBI Fortis Life Insurance
Canara HSBC Oriental Bank of Commerce Life Insurance
Religare Life Insurance
DLF Pramerica Life Insurance
20
Star Union Dai-ichi Life Insurance
Agriculture Insurance Company of India
Apollo DKV Insurance
Cholamandalam MS General Insurance
HDFC Ergo General Insurance Company
ICICI Lombard General Insurance
IFFCO Tokio General Insurance
National Insurance Company Ltd
New India Assurance
Oriental Insurance Company
Reliance General Insurance
Royal Sundaram Alliance Insurance
Shriram General Insurance Company Limited
Tata AIG General Insurance
United India Insurance
Universal Sompo General Insurance Co. Ltd
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Corporate Profile of BHARTI AXA
Bharti AXA Life Insurance is a joint venture between Bharti, one of
India’s leading business groups with interests in telecom, agri
business and retail, and AXA, world leader in financial protection and
wealth management. The joint venture company has a 74% stake
from Bharti and 26% stake of AXA.
The company launched national operations in December 2006.
Today, we have over 8000 employees across over 12 states in the
country and a national footprint of distributors trained to provide
quality financial advice and insurance solutions to the large Indian
customer base.
As we further expand our presence across the country with a large
network of distributors, we continue to provide innovative product and
service offerings to cater to specific insurance and wealth
management needs of customers. Whatever your plans in life, you
can be confident that Bharti AXA Life will offer the right financial
solutions to help you achieve them.
The vision of Bharti AXA Life Insurance Company Limited is to
become the preferred life insurance company in India. This vision
extends to our recruitment philosophy as well. Both the Bharti Group
in India and AXA globally enjoy the status of being a very employee
focused organization.
22
At Bharti AXA Life Insurance, we are determined to achieve our
vision through talent who are empowered, focused on customer
service, and champions of strategic and operational excellence.
The guiding Human Resources principles at Bharti AXA
are:
Clearly define scope of responsibilities and empower people to
deliver
Provide people with the means to develop their competencies
Consider individual training and development a priority
investment
Build organizations that are conducive to teamwork and that
involve everyone
Promote ongoing dialogue between managers and the people
who report to them
Make cultural difference a key source of strength
Vision
23
To be a leader and the preferred company for financial protection and
wealth management in India
Values
Professionalism
Innovation
Team Spirit
Pragmatism
Integrity
Strategy
To achieve a top 5 market position in India through a multi-
distribution, multi-product platform
To adapt AXA's best practice blueprints as a sound platform for
profitable growth
To leverage Bharti's local knowledge, infrastructure and
customer base
To deliver high levels of shareholder return
To build long term value with our business partners by
enhancing the proposition to their customers
To be the employer of choice to attract and retain the best
talent in India 24
To be recognised as being close and qualified by our
customers
Strategic differentiators
Strong partner Bharti - provides access to customer base of
more than 20 million
Multi channel execution capability
Current Asia product range which is a strong match to products
sold to the mass and mass affluent
Global scale providing cost effective and speedy re-use of
systems, products and business capability
Individual Plans of BHARTI AXA:
Bharti AXA Life Guarantee Builder
A Unit Linked Guarantee Plan
25
Guarantee Builder provides you with a comfort factor on your
investments and you can be sure that this comfort factor keeps
building year-on-year. It's a solid investment plan that lets you
achieve your long-term goals by investing in a mix of debt and
equities, while providing a Guaranteed Maturity Value over 15 years.
What's more, you need not worry about your family's security as it
has a strong life insurance protection embedded.
. Guarantee Builder provides you with a comfort factor on your
investments and you can be sure that this comfort factor keeps
building year-on-year. It's a solid investment plan that lets you
achieve your long-term goals by investing in a mix of debt and
equities, while providing a Guaranteed Maturity Value over 15 years.
What's more, you need not worry about your family's security as it
has a strong life insurance protection embedded.
Key Benefits:
Ensure solid protection for your family through a Death Benefit
that offers Sum Assured PLUS Fund Value
Get the comfort of a Guaranteed Maturity Value (GMV) which
means at least your investment premiums are returned at
maturity.
Get the power of Builder, which means that you can expect
your GMV to potentially increase by 1% each year till it reaches
115% by the time Guarantee is applicable.
26
The new Build n Protect Fund ensures not only safety to your
investments, but also provide you the springboard for growth of
your investments over the long-term by allocating upto 40% in
large-cap stocks.
Get tax benefits on the premiums paid and benefits received as
per the prevailing tax laws.
Bharti AXA Life Bright Stars
A Unit Linked Child product.
Bharti AXA Life Bright Stars provides a launch pad for your child’s
bright future. What else, You also have Jumpstart benefit which is
paid out at maturity along with Policy Fund Value, which enables your
child to explore more career options.
Bharti AXA Life Bright Stars provides a launch pad for your child’s
bright future. What else, You also have Jumpstart benefit which is
paid out at maturity along with Policy Fund Value, which enables your
child to explore more career options.
Key Benefits:
Get 360` protection in securing your child’s future.
27
o Payment of sum assured immediately on death;
o Payment of future premiums by the company till maturity;
o Get Policy Fund Value along with Jumpstart benefit at
maturity.
A Jumpstart benefit to boost your maturity proceeds.
A flexible Policy which adjusts to your financial needs by giving
you various options like top ups, choice of investment funds,
switch, withdrawals, cover continuance option, decrease in
premium and more.
Choice of 5 policy terms to match your financial goals.
Get tax benefits on the premiums paid and benefits received as
per the prevailing tax laws.
Bharti AXA Life Spot Suraksha
Spot Suraksha helps you create a pool of wealth to meet your long-
term needs, with an added advantage of simplified buying process
Spot Suraksha helps you create a pool of wealth to meet your long-
term needs, with an added advantage of simplified buying process
Key Benefits:
28
Easy to buy Investment solution - with a simplified
proposal form, no medical examinations & you are insured
on the spot with the issuance of a cover note!!
130% of first year premium is returned as Guaranteed Special
Addition on death or on Maturity.
Allocation rates 100% from year 2 onwards!
3 investment fund options as per your investment preferences
& the facility to switch amongst the investment funds as per
your investment objectives.
Flexibility of partial withdrawals after fifth Policy Year, cover
continuance option after seven policy years
Tax benefits under section 80C and 10(10D) of Income Tax
Act.
Bharti AXA Dream Life Pension
A Unit Linked Pension Product
Dream Life Pension, Bharti AXA Life Insurance's unique pension
product ensures that your retirement life is your Dream Life.
Live your Dreams! Be Life Confident.
29
Dream Life Pension, Bharti AXA Life Insurance’s unique pension
product ensures that your retirement life is your Dream Life.
Live your Dreams! Be Life Confident.
Key Benefits:
Unmatched flexibility for retirement wealth creation
o Pay one time lump sum or regular premiums
o At the inception systematically increase your premiums by
5 % or 8% each year with the Accumulator Option
o Increase/decrease premiums any time after the 2nd policy
year
o Add top up premiums any number of times after the 1st
policy year
Dream Life Pension enhances your retirement kitty by providing
special addition, starting from the end of 10th policy year
Change your planned retirement age any time during the policy
term
Obtain tax benefits as per the prevailing tax laws on the
premiums paid and the benefits received under the policy.
30
Bharti AXA Life Aspire Life
Unit Linked Endowment Product.
Aspire Life helps you create a pool of wealth to meet your long-term
needs, while also providing you adequate protection in case the need
arises.
Aspire Life helps you create a pool of wealth to meet your long-term
needs, while also providing you adequate protection in case the need
arises.
Now you can be confident of your long term financial goals
turning into reality. Be Life Confident.
Key Benefits:
Allocation rates as high as 100% i.e. no allocation charges for
premiums greater than or equal to Rs.50,000 on your
investment in the unit-linked fund from year 2 - to maximize
your investment returns.
Up to 175% of the first year premium paid by you is returned as
Guaranteed Special Addition, at maturity of the policy or on
unfortunate event of death of the Life Insured.
3 investment fund options as per your investment preferences.
31
Flexibility of partial withdrawals after fifth Policy Year, premium
holiday option after seven policy years and facility to switch
amongst the investment funds as per your investment
objectives.
Protection benefit which provides high Sum Assured for longer
policy terms.
Tax benefits under section 80C and 10(10D) of Income Tax Act
Bharti AXA Life Invest Confident
Unit Linked Single Premium Product.
You have always strived hard to achieve the best for you and your
loved ones, so when it comes to making an investment decision, we
know that you would expect the best from it too.
You have always strived hard to achieve the best for you and your
loved ones, so when it comes to making an investment decision, we
know that you would expect the best from it too.
Presenting Invest Confident, a unique single premium, unit linked
investment and protection product which not only strives to maximize
your investment returns but also gives you an enhanced flexibility to
suit it according to your protection needs, because we at Bharti AXA
32
Life Insurance, believe that your hard earned money deserves
nothing but the best.
Now, be confident of choosing the best financial solution for
your investment and life insurance needs. Be Life Confident.
Key Benefits:
Convenient single premium product with policy benefit period till
the age of 70.
Unique special additions starting from the end of 5th policy year
and thereafter at the end of every 5 years till the maturity date.
3 investment fund options as per your investment preferences.
Basic Sum Assured of five times the single premium.
Unique option of investing additional amount at your
convenience through Top Up Premiums.
Flexibility of partial withdrawals after the third Policy Year
Additional benefit of Rs.5, 00,000 in the event of death due to
an accident.
Tax benefits under section 80C and 10(10D) of Income Tax
Act.
33
Why should you buy Invest Confident?
Invest Confident is a suitable product for lump sum investment needs.
You can enhance your investment and protection needs by adding
money as much as the initial lump sum amount every year through
top ups. Being a unit-linked plan, it also suits your requirement of
deriving potentially higher returns by assuming the appropriate risks.
Invest Confident offers you flexibility, loyalty and convenience and
gives your investments a premier treatment.
Bharti AXA Life Wealth Confident
A unit-linked investment cum protection policy.
Your wealth, your status ensures that you get preferential status
wherever you go. So why shouldn't your money get the same?
Your wealth, your status ensures that you get preferential status
wherever you go. So why shouldn't your money get the same?
Wealth Confident, a unit-linked investment cum protection product,
with its limited period premium payment facility of 5 years, premium
payment flexibility, higher allocation of your premium for investment,
unique special additions and life insurance benefit, not only makes
34
your money grow but also provides your investment the special
treatment that it deserves.
"Be confident of providing your investments the right mix of growth,
flexibility and loyalty benefits. Live confident with Wealth Confident."
Key Benefits:
Pay premium for five years, while your policy continues for ten
years.
Higher allocation of your premium up to 88% for investment.
Special additions of units added every year from 6th Year for
incremental wealth creation.
Choose from four different investment funds to meet your
financial objectives.
Five times the life cover of your annual premium.
Tax benefit under 80C and 10(10D).
Why should you buy this plan?
Wealth Confident is a suitable product for you, if your key objective is
to potentially maximize your wealth to fulfill your future financial
35
objectives such as child's higher education, building a retirement kitty,
asset creation, etc.
The limited premium payment term of 5 years for a 10 year policy,
also suits your requirements of premium payment flexibility.
Being a unit-linked plan, it also suits your requirement of earning
potentially higher returns by assuming the appropriate risks.
Bharti AXA Life FutureConfident
A unit-linked policy which offers comprehensive protection along with
wealth creation in the long term.
Imagine this, 12 years from now, your son will go for his MBA degree,
or 15 years from now, you will have to find a suitable son-in-law, or
20 years from now, you will require money, to spend a happily retired
life.
For your long-term financial milestones, our endeavor at Bharti AXA
Life Insurance is to provide you with suitable long-term financial
solution.
"Future Confident is a complete financial solution that serves you in
building wealth for your long-term needs, but most importantly,
36
provides comprehensive financial protection to your loved ones,
against all odds."
Now be confident of a solution that works for your long-term
needs to make your future confident. Be Life Confident.
Key Benefits:
Life insurance benefit of up to 420 times the monthly premium.
Comprehensive overall protection through "Protection
Enhancers" in the form of riders.
Wealth creation for your long term financial needs.
Special additions at regular intervals, starting from 7th year, to
enhance your wealth.
Four different investment funds to meet your financial
objectives.
Tax benefit under 80C and 10(10D).
Why should you buy this plan?
Future Confident is a suitable product for you, if your objective is
long-term targeted wealth creation over 15-20 years, either for your
own retirement or for your children's future, while at the same time
providing your family a comprehensive protection against unfortunate
incidences in life.37
Being a unit-linked plan, it also suits your requirement of deriving
potentially higher returns by assuming the appropriate risks.
Bharti AXA Life Future Confident ii
A unit-linked product which offers enhanced protection along with
wealth creation in the long term. Imagine this, 12 years from now,
your son will go for his MBA degree, or 15 years from now, you will
have to find a suitable son-in-law, or 20 years from now, you will
require money, to spend a happily retired life.
When financial protection along with the wealth creation for long-term
needs is your key financial objective, you need a solution that
provides that extra protection for your loved ones, while creating
wealth for your long-term goals. Future Confident II is a complete
financial solution that serves you in building wealth for your long-term
needs, but most importantly, provides comprehensive financial
protection to your loved ones, against all odds."
Now be confident of a solution that works for your long-term
needs to make your future confident. Be Life Confident.
Key Benefits:
Build Wealth for your long term financial needs with enhanced
financial protection.
38
Sum assured up to 420 times the monthly premium.
Life insurance benefit as Sum assured PLUS Policy fund value.
Four different investment funds to meet your financial
objectives.
Comprehensive overall protection through "Protection
Enhancers" in the form of riders.
Special additions at regular intervals, starting from the end of
7th year, to enhance your wealth.
Tax benefit under sections 80C and 10(10D) of Income Tax
Act.
Why should you buy this plan?
Future Confident II is a suitable product for you, if your objective is
long term targeted wealth creation over 15-20 years, either for your
own retirement or for your children's future, while at the same time
providing your family a enhanced protection against unfortunate
incidences in life.
Bharti AXA Life Save Confident
Traditional money back insurance product for long term savings.
Your changing life stages decide your financial milestone planning.
When you foresee intermittent financial requirements in the years to
come, like regular expenses related to your child’s education, liquidity
39
becomes a key aspect of your planning along with long term savings,
and protection for your family.
Imagine this, 12 years from now, your son will go for his MBA degree,
or 15 years from now, you will have to find a suitable son-in-law, or
20 years from now, you will require money, to spend a happily retired
life.
When financial protection along with the wealth creation for long-term
needs is your key financial objective, you need a solution that
provides that extra protection for your loved ones, while creating
wealth for your long-term goals.
"Future Confident II is a complete financial solution that serves you in
building wealth for your long-term needs, but most importantly,
provides comprehensive financial protection to your loved ones,
against all odds."
Now be confident of a solution that works for your long-term
needs to make your future confident. Be Life Confident.
Key Benefits:
Build Wealth for your long term financial needs with enhanced
financial protection.
Sum assured up to 420 times the monthly premium.
Life insurance benefit as Sum assured PLUS Policy fund value.
40
Four different investment funds to meet your financial
objectives.
Comprehensive overall protection through "Protection
Enhancers" in the form of riders.
Special additions at regular intervals, starting from the end of
7th year, to enhance your wealth.
Tax benefit under sections 80C and 10(10D) of Income Tax
Act.
Why should you buy this plan?
Future Confident II is a suitable product for you, if your objective is
long term targeted wealth creation over 15-20 years, either for your
own retirement or for your children's future, while at the same time
providing your family a enhanced protection against unfortunate
incidences in life.
Being a unit-linked plan, it also suits your requirement of deriving
potentially higher returns by assuming the appropriate risks.
41
Bharti AXA Life Secure Confident
A Long Term Life Insurance.
All of us desire to maximize the happiness for our family at all times,
irrespective of the circumstances. The thought of unfortunate events
befalling us may cause us anxiety about providing a secured
happiness to our loved ones.
All of us desire to maximize the happiness for our family at all times, irrespective
of the circumstances. The thought of unfortunate events befalling us
may cause us anxiety about providing a secured happiness to our
loved ones. Insurance can help you ease your worries. Now, Bharti
AXA Life Insurance Company Limited presents Secure Confident, a
simple long-term life insurance product that aims to ensure that the
dreams that you aspired for your family in your lifetime, don’t remain
unfulfilled by the financial void which might get created due to
unfortunate event of death.
Now be confident of the happiness of your loved ones at all
times, irrespective of the circumstances. Be life confident.
Key Benefits:
42
Term Assurance for 5, 10,15,20,25 years.
Financial protection against unfortunate event of death at an
affordable cost.
Comprehensive overall protection with help of riders.
Tax benefit under section 80C and 10(10D) of Income Tax Act.
Why should you buy Secure Confident?
Secure Confident is suitable to you, if your objective is to protect your
family against any financial loss caused due to unfortunate death,
disability or critical illnesses, which may deprive them of a secured
future.
Group Plans:
Bharti AXA Life - Credit Secure
Bharti AXA Life Credit Secure is a group product, offering life
insurance coverage to customers of financial institutions who have
availed of a loan. Credit Secure is comprehensive solution that helps
43
protect your customer’s assets and savings in the unfortunate event
of death.
Bharti AXA Life - Sanjeevani
Sanjeevani is a single premium group term life insurance product,
offering protection to your family.
Bharti AXA Life - Swasthya Sanjeevani
Swasthya Sanjeevani is a single premium group critical illness
product, providing comprehensive protection against 6 critical
illnesses.
Bharti AXA Life - Sanjeevani
Sanjeevani is a single premium group term life insurance product,
offering protection to your family.
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Bharti AXA Life Mortgage Credit Shield
Mortgage Credit Shield is a Group Product that provides coverage to
people who have availed of a Mortgage\ Home loan\ Home equity
loan from an Institution/Bank.
Bharti AXA Life Credit Shield
Credit Shield is a Group Product that provides coverage to people
who have availed of a loan for 1 to 5 years from Group Policyholder.
Bharti AXA Life Life Shield
Life Shield is a single premium group term life insurance product.
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Comparative between pension plan of Bharti Axa and
Hdfc standard Life Insurance company
S.NO. COMPANY BHARTI AXA LIFE INSURANCE
Hdfc standard LIFE INSURANCE
1. Name of Product Bharti Axa Pension plan
Hdfc satandard Insurance Pension plan
2. Premium type REGULAR/SINGLE SINGLE3. Age at Entry (Min/Max) 18 Years- 60 Years 18 Years- 60
Years 4. Premium payable
(Min/Max)Minimum Premium Rs. 24000 for yearly, Rs. 12000 for half-yearly , Rs. 6000 for quarterly and Rs. 2000 for monthly Premium max up to no. max limit
Minimum Premium Rs. 50000 Max up to – no max limit
5. Premium Paying term Yearly Yearly6. Policy benefit period 10 years 10 years7. Premium paying term 5 years 3 years8. Top up premium Min Rs. 5000 Min Rs. 5000
46
(Min/Max) Max no – limit Max no – limit 9. Death Fund Value of the
basis plan along with fund value of top-ups is payable.
Fund Value of the basis plan along with fund value of top-ups is payable .
10. Maturity/Survival/vesting Policy Fund Value Policy Fund Value
11. Investment Fund 1. Growth Money Fund 2. Save ‘n’ grow Money Fund 3. Steady Money Fund
1. Assure Fund 2. Protector Fund 3.Builder Fund 4. Enhancer Fund 5. Creator Fund 6. Magnifier Fund 7. Maximiser Fund
12. Fund Switch (Freee Sewtches in a year
Switches freee in each policy year. Subsequent switches in any year will be charged at Rs. 100 per switch.
Switches free in each policy year subsequent switches in any year will be charged at Rs. 100 per switch
13. Surrender Value Can be done anytime without any surrender charges, for regular premium, at least 2 years premium are to be paid.
Can be done anytime without any surrender charges. For regular premium, at least 3 years premium are to be paid.
15. Fund Management Charges
Fund Type1.Grow Money Fund2. Steady Money Fund 3. Save ‘n’ Grow Money Fund
1. Assure 2. Protector 3. Builder 4. Enhancer 5. Creator 6. Magnifier 7. Maximiser 8. Multiplier
16. Top up charges Top up Premium 2% of Top up
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Premium 17. Benefit of partial
withdrawals Partial withdrawal facility from policy fund for early liquidity after the completion of 3 policy years minimum withdrawal amount is Rs. 10000
Partical withdrawal facility from policy fund for easy liquidity after the completion of 3 policy years. Minimum withdrawal amount is Rs. 5000
18. Tax benefit Tax benefits under section 80 c, 80ccc, 80ccd and (1 OD ) of Income Tax Act.
Tax benefits under section 80 C ,80ccc, 80ccd and 10 (10 D) of Income Tax Act.
About Bharti Foundation
“As a first step towards fulfilling the vision of the Government and the
leadership of the country, Bharti has kick-started it’s voluntary and
affirmative action in making significant contribution to provide education to
the weaker sections of the society, so as to make them employable. We
need to ensure that our children and young people have access to quality
education. Through Bharti Foundation we are determined to make a
substantial impact in this area.”
Mr. Sunil Bharti Mittal, Founder, Chairman & Group CEO, Bharti
48
Enterprises
“As a responsible corporate citizen, we have decided to substantially scale
up our existing programs in the area of education, in order to support the
aspirations of under-privileged in the country.”
Mr. Rakesh Bharti Mittal, Vice Chairman, Bharti Enterprises while
unveiling Bharti Foundation’s roadmap ahead
Bharti Foundation was set up in the year 2000 with the vision, “To help
underprivileged children and young people of our country realize
their potential“. In order to realize this vision, we have been creating and
supporting programs that bring about sustainable changes, predominantly
in the field of education.
We have adopted a two-pronged strategy to impact the quality of
education in schools. On one hand, we are adopting government schools,
in order to create a positive impact on the quality of education being
delivered to underprivileged children. On the other hand, we are in the
process of setting up pre-primary, primary and senior secondary level
schools under our Satya Bharti School Program. This program launched
in 2006, supports our search for excellence and sets benchmarks for
quality education.
Under the Satya Bharti Schools program, we aim, to set up 500 pre-
primary and primary schools and 50 senior secondary schools in public-
private partnership model which will deliver high quality education to
underprivileged children in the deepest rural pockets of the country. By 49
setting up a chain of Satya Bharti Schools across the country, we will not
only learn to operate at scale, in diverse cultures and languages but also
deal with ground-based issues.
The curriculum and teaching-learning processes in our schools stem from
our belief that each child is different and this diversity needs to be
encouraged by creating classrooms that are truly child-friendly. Our
teachers, the school-curriculum as well as classroom transactions are
geared to bring out the best among first-generation learners.
Our adoption of government schools will work towards strengthening the
network of government primary schools and have a deep and sustainable
impact on the quality of education. Partnering with various state
governments and adopting existing schools for an extended period of time
will achieve this. The program will look at schools as composite units and
provide holistic support on need basis to ensure delivery of quality
education. The adopted schools will continue to follow the state-prescribed
curriculum, supplemented by interesting teaching-learning material and
processes developed by the curriculum design team of Bharti Foundation
In addition to the above two flagship programs, we have also initiated and
set up a number of Bharti Computer Centers across the country in
association with organizations like Pratham InfoTech, Kalakar Trust and
Adharshila. This initiative has made computers accessible to 50
underprivileged children studying in NGO based schools.
In January 2005, we also launched the Bharti Library and Activity Center
(BLAC) program with a goal to introduce underprivileged children to the
world of books and help them upgrade their reading skill.
in order to provide education and training opportunities to young peoIple
and develop future leaders and entrepreneurs, we have partnered with
premier institutes like the Indian Institute of Technology, Delhi to set up
Bharti School of Telecommunication Technology and Management, IIT
Delhi. We have also instituted a scholarship and mentorship program to
encourage large numbers of bright young people from underpriv
Key milestone 2008
Bharti Foundation was awarded the Asian CSR Award for Support
51
and Improvement in Education for the year 2008 ( November 21,
2008).
Bharti Foundation was awarded the Social and Corporate
Governance Award for Best Corporate Social Responsibility Practice
(CSR) for the year 2008 ( February 5, 2009).
Bharti Foundation was awarded the Indian NGO Award ( Joint
Regional Winner- North) for the year 2008 ( March 30, 2009).
2007
School Improvement Program (SIP) formally launched with the
signing of a Memorandum of Understanding (MoU) between Bharti
Foundation and state Government of Rajasthan to adopt
50 government schools in Rajasthan. (August 23, 2007)
Bharti Foundation was awarded the Golden Peacock Award for
Corporate Social Responsibility (CSR) for the year 2006 in the NGO
category. (January 12, 2007).
2006
The first Satya Bharti School started with 55 children in Ladhowal
village in Punjab. ( August 7, 2006)
Bharti Scholarship Scheme re-launched to provide financial
assistance to students on a merit-cum-means basis to facilitate
higher education. ( July 2006)
52
Satya Bharti School program launched with an aim to establish 1000
village-based primary schools across the country for poor and
underprivileged children. ( May 4, 2006)
The Promoters of Bharti Enterprises and their Associates committed
an initial endowment of Rs 200 Crores to Bharti Foundation to
support its work. ( May 4, 2006)
A Governing Board comprising of several prominent personalities
formed to guide the programs of Bharti Foundation. ( May 2, 2006)
Hon’ble Prime Minister of India, Dr. Manmohan Singh, formally
inaugurated the campus of Bharti School of Telecommunication
Technology and Management at IIT, Delhi (March 20, 2006).
2005
CII-Bharti Woman Exemplar Award instituted with an aim to promote
women’s empowerment at the grassroots level. ( May 3, 2005)
Bharti Library Centers program initiated in rural and semi-urban
areas with an aim to instill reading habits in underprivileged children.
( March 29, 2005)
Support given to the Fellowship Program in IIM, Lucknow to develop
competent managers and conduct research and training initiatives.
( January 11, 2005)
2004
Bharti Computer Centers introduced across schools to enhance and 53
stimulate children’s interest in education and bridge the digital divide.
( November 1, 2004)
Going to School book launched with the actress, Sushmita Sen. as
the Chief Guest. ( January 31, 2004)
2003
State-of-the-art kitchen facility set up in Vrindavan with Akshay Patra
Foundation to provide mid-day meals to students from
underprivileged backgrounds, studying in the local government
schools. ( August 2003)
2002
Bharti Centre for Entrepreneurial Initiatives (BCEI) established in
partnership with Entrepreneurship Development Institute of India
(EDI) to promote entrepreneurial skills among youth. ( June 28,
2002)
2001
The project “Going to School” was launched to bring alive the reality
of various education initiatives and schools in India. ( October 15,
2001)
Agreement concluded with IIT Delhi to set up Bharti School of 54
Telecommunications, Technology and Management with an
objective to develop telecom leaders at the campus of IIT, Delhi.
Bharti Foundation launched to give shape and scale to the
philanthropic activities of the Bharti group of companies. (August 7,
2000)
Golden Peacock Award for Corporate Social
Responsibility
Bharti Foundation was awarded the prestigious Golden
Peacock Award for Corporate Social Responsibility (CSR) for
the year 2006 in the NGO category. The winner for the
award was chosen by an eminent jury panel chaired by
Justice P. N. Bhagwati, former Chief Justice of India and
55
Member, United Nations Human Rights Commission.
The Golden Peacock award has been instituted to encourage
Corporate Social Responsibility initiatives by the Centre for
Social Responsibility supported by the Institute of Directors
(IOD), Centre for Corporate Governance (CFCG) and the World
Council for Corporate Governance (WCFCG), UK.
The award recognizes the initiatives undertaken by
Bharti Foundation, primarily in the area of education.
The Satya Bharti School program which provides quality
primary education to underprivileged children; Bharti
Computer Centers (BCC) and Bharti Library & Activity
Centers (BLAC) programs to improve the learning levels
of children; Bharti Scholarships for higher education and
Bharti School of Telecommunication Technology and
Management at IIT-Delhi to develop young Telecom
Leaders were some of the initiatives considered by the
eminent jury.
56