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ACKNOWLEDGEMENT
Life is a journey and during this journey we explore many places, halt at few stations,
explore them and gain a lot of experience.
Our lifes professional journey began with KOTAK LIFE INSURANCE, its always a
smooth sailing if we are under a guidance of an experienced person. It had been a
golden opportunity to work under the guidance of industry experts like Mr. NITESH
KUMAR
A special thanks to him for motivating me through his own experiences. e kept his
faith in me that I can achieve the targets.
Last but not the least I extend my thanks to all the other members of the !otak Life
Insurance, family for their co"operation during our training days.
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PREFACE
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ABOUT INSURANCE
Insurance is a social device to reduce or eliminate risk of loss to life and property. It s a
provision which a prudent man makes against inevitable contingencies, loss or
misfortune.
As in private life in business also there are dangers and risks of di#erent kinds. $he
aim of all type of insurance is to make provision against such dangers.
$he risks and uncertainties of man have been increasing day"by"day in this modern
world. Along with this change, the signi%cance of insurance also has increased.
Insurance becomes an unbearable part of human life. Insurance plays important role
in the socio"economic prosperity of a country, as it evident from the contribution of
insurance in various industrial and commercial activities. &oyce writes that at the
present time the importance of insurance has been considerably increasing. $he
importance is not only increasing the ful%llment of objectives of certain people or
some category of people, but also contributes towards the socio"economic
development of modern social system. $here will be no exaggeration to say that
industrial world without insurance is like a car without shock"absorber. An individual is
safe when he is insured against death or accident or any other uncertain loss. It
protects the farmer with his crop in the %eld against ruin by 'ood, rain, %re and
windstorm, etc. (imilarly in the case of businessmen who run industrial or commercial
activities.
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)hile stating the signi%cance of insurance, *ins dale writes, +o one can a#ord to be
without Insurance in this world. )hile describing the importance of insurance, .
&oyee )rites, Insurance principle comes to be more and more used and useful in
modern a#airs. +ot only does it serve the ends of individuals, it tends more and more
both to provide and transform our modern social order. It brings into new synthesis not
merely pure and applied sciences, but private and public interests. Individual prudence
and a large regard for the general welfare, thrift and charity.
$he risk which can be insured against includes"%re, perils of sea -marine insurance,
death -Life insurance and accidents and burglary. $hus, collective bearing of risk is
insurance.
Insurance in the modern form originated in the /editerranean during 01"02 thcentury.
$he earliest references to insurance have been found in 3abylonia, the 4reeks and the
&omans. $he use of insurance appeared in the account of +orth Italian merchant
banks who then dominated the international trade in 5urope at that time. /arine
insurance is the oldest form of insurance followed by life insurance and %re insurance.
$he patterns that have been used in 5ngland followed in other countries also in these
kinds of insurance.
$he early development of life insurance was closely linked with that of marine
insurance. $hese %rst insurers of life were the marine insurance underwriters who
started issuing life insurance policies on the life of master and crew of the ship, and
the merchants. $he early insurance contracts took the nature of policies for a short
period only. $he underwriters issued annuities and pensions for a %xed period or for
life to provide relief to widows on the death of their husbands. The frst lie insurance
policywas issued on 06thune, 0761, on the life of )illiam 4ibbons for a period of 08
months.
It was in the eighteenth century, societies began to be formed for issuing life
insurance policies. Among such societies the Amicable (ociety -09:7, $he 5;uitable
Life Assurance (ociety -09
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societies. $he premium rates were varied in view of reputation and of health condition
of the insured.
*uring the early years of nineteenth century, a large number of life insurancecompanies were formed in India, (ome of these companies preferred to amalgamate
their business with other companies and a good number failed to unction e#ectively. In
order to stabili>e and strengthen the insurance business, Life Insurance ?ompanies
Act, 0=81 was passed and later it was amended in 0=2
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E&a)*a%ion of ri!" @or the purpose of evaluation of insurance premium, the
volume of risk is evaluated, which forms the basis of insurance contract.
Pa+$n% on ha##$ning of #$(i-$' $&$n%" $he indemnity insurance
depends on the nature of losses occurred, subject to a maximum of the sum
insured. In life insurance, however a %xed amount is paid on the happening of
some uncertain event or on the maturity of the policy.
Larg$ n*$r of in*r$' #$ron" $he success of insurance business
depends on the large number of persons insured against a similar risk. $his will
enable the insurer to spread the losses of risk among large number of persons,
thus keeping the premium rate at a minimum.
In*ran($ i no% ga)ing"4ambling is an illegal activity which gives gain to
one party loss to the other. Insurance is a valid contract. /oreover, insurable
interest is present in insurance contracts it has the element of investment
also.
In*ran($ i no% a (hari%+"?harity pays without consideration but in the case
of insurance, premium is paid by the insured to the insurer in consideration of
future payment.
Pro%$(%ion again% ri!" It provides protection against risks involved in life,
materials property. It is a device to avoid or reduce risks.
Tranf$r of ri!" It is a plan in which the insured transfers his risk on the
insurer. It is a device to transfer some economic losses to the insurerB otherwise
such losses would have been borne by the insured themselves.
A($r%aining of )o$"3y taking a life insurance policy one can ascertain his
future losses in terms of money. $his is done by the insurer by determining the
rate of premium which is calculated on the basis of maximum risks.
I% i a )$ga) (on%ra(%"It is a legal contract between the insurer the insurer
the insured under which the insurer promises to compensate the insured
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%nancially within the scope of insurance policy, the insured promises to pay a
%xed rate of premium to the insurer
Ba$' *#on ($r%ain #rin(i#)$" It is a legal contract based upon certain
fundamental principles of insurance which includes utmost good faith, insurable
interest, contribution, indemnity, cause proximal, subrogation etc. which are the
basis for successful operation of insurance plan.
In%i%*%iona) $% *#" After nationali>ation, the insurance business in the
country is operation under statutory organi>ational set up.
In*ran($ for #*r$ ri! on)+"Cure risks give only losses to the insured no
pro%ts. 5xamples of pure risks are accident, death, %re, injury etc. which are all
one sided risks the ultimate result is loss. Insurance companies do not issue
policies against speculative risks, as they have chances of pro%t or loss.
So(ia) '$&i($"It is a plan of social welfare for the protection of the interests
of the people. &egal miller observed that insurance is of social nature.
Ba$' on *%*a) goo' fai%h" Insurance is a contract based o good faith
between the parties therefore both the parties are bound to disclose theimportant facts a#ecting the contract before each other.
R$g*)a%ion *n'$r %h$ )a/" $he govt. of every country enacts the law
governing insurance business so as to regulate D control its activities for the
interest of the people. In India, the Life Insurance Act 0=7< the 4eneral
Insurance -+ationali>ation Act 0=98 are the major enactments in this direction.
$o conclude, insurance is a device for the transfer of risks from the insured to the
insurer, who agrees to it for a consideration -known as premium promises that the
speci%ed extent of loss su#ered by the insured shall be compensated.
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SIGNIFICANCE OF INSURANCE
$he signi%cance or utility of insurance can be categori>ed into the following four
groupsE
INDI0IDUAL1FAMIL2 POINT OF 0IEW"
(ecurity safety
Investment
?onservation of health
Increases eFciency
@osters economic independence
(ecurity of the property mortgaged
/ental peace
Clanning for future
5xemption from tax liability
(afety against decree
Crovision for future needs
Increases goodwill
?apitali>ation of earning capacity
?reates awareness amongst insured
Availability of credit against insurance policy
BUSINESS POINT OF 0IEW
(afety against risk
(ucre of credit
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(afety against perils
Crotection against the loss of key"man
*etermination of cost of accidents
5ncourages loss prevention measures
Crotects employee interests
Cromotes foreign trade
Aid to small business
(tability of partnership business
3usiness stability
/akes cost of accidents certain
(ocial point of view
5conomic security
Crovides employment
Cromotes education
*istribution of risks
Crevention of social evils
Awareness towards health
Crevention of losses
?ontributes towards the development if utility services
(ecurity to public private property
NATIONAL POINT OF 0IEW"
Increases national savings
?ontributes towards investment
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Cromotes capital formation in the country
Increases the employment opportunities
?ontributes towards national income
?ontributes to the function of public welfare
CLASSIFICATION OF INSURANCE
Insurance can be classi%ed into three categoriesE
-i On the basis of +ature of Insurance
-ii On the basis of business
-iii On the basis of risk
CLASSIFICATION OF INSURANCE
0. Life Insurance 0. Life Insurance 0. Cersonal Insurance
8. @ire Insurance 8. 4eneral Insurance 8. Croperty Insurance
1. /arine Insurance 1. Liability Insurance
2. (ocial Insurance 2. @idelity Insurance
7. /iscellaneous
10
On the basis of nature
of Insurance
On the basis of
nature of business
On the basis of
risk
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IN BRIEF ONE NEEDS INSURANCE"
REPLACEMENT OF INCOME
Life insurance products can provide support to the family and take care of the family s
%nancial re;uirements. 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.
LIFEST2LE MAINTENANCE
Life insurance products can help build a corpus to protect and maintain lifestyle
against 'uctuations in the future income.
COSTS OF EDUCATION
One needs to support his child with a sound educational background, to help child
achieve hisGher dreams. Life insurance products can help an individual ful%ll these
needs, whether he is there or not.
RETIREEMENT E3PENSES
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&etirement is an age when an individual has ful%lled 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 one gets guaranteed pension.
MORTGAGE AND DEBT PROTECTION
)ith increasing consumerism and ever rising demands, loans and debts are now part
of life. Life insurance products helps one ensure that his family is not unduly burdened
with their repayments, in case of an unfortunate event or an untimely demise of the
breadwinner.
HARDSHIPS PROTECTION
Life insurance provides a sense of security to the income earner and to hisGher family
buying life insurance frees the individual from various unnecessary %nancial burdens
that can otherwise make one spend sleepless nights.
LIMITATIONS OF INSURANCE
In spite of number of advantages of insurance it has certain limitations. On account of
such limitations, the demerits of insurance could not be availed in full. $hese
limitations areE
All the risks cannot be insuredE only pure risks can be insured the speculative risks
cannot be insured.
In*ra)$ in%$r$% 4-nan(ia) in%$r$%5 on %h$ *6$(% a%%$r" Insurance is
possible only when the insured has insurable interest in the subject matter on
insurance either at the time of insurance or at the time of loss, or at both the times, in
the absence of which the contract of insurance becomes void.
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I#oii)i%+ of $a*r$$n% of r$a) )o"in case the loss arisen from happening
of the event cannot be valued in terms of money, such risks are not insurable.
igher premium ratesE certain category of people cannot avail the advantage ofinsurance due too this factor. $he main reason for higher premium rates is the higher
operating cost.
/oral ha>ardsE it becomes diFcult to control moral ha>ards in insurance. $here are
certain people who mistily the insurance plans for their self interest by claiming false
claims from the insurance companies.
Pri&a%$ in*r$r (anno% in*r$ ($r%ain ri!"the private insures are not permitted
to insure certain speci%ed risks like unemployment insurance, bankruptcy of banks
insurance etc.
Hnattractive investmentE insurance is not a pro%table investment. Its main object is to
provide security against risks. Insurance business cannot be a source to ac;uire
pro%ts.
In certain cases cooperation of government if necessaryE certain speci%ed risks can be
insured with cooperation of the government only, such as, unemployment, insurance,
insolvency of banks, food insurance etc.
A)) %h$ #*r$ ri! ar$ no% in*r$'"the insurer does not insure all accept a proposal
of a person whose heart surgery has gone through.
FUNCTIONS OF INSURANCE
13Primary
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0. Crovides protections 0. Creventions of losses 0. /eans of
savings
Investments
8. ?ollective bearing of risk 8. (mall capital to cover 8. (ources of
earning
larger risks forgein exchange
1. 5valuation of risks 1. ?ontributes towards the 1. Cromotes exports
development of larger
enterprise
2. Crovides certainly against 2. ?ontributes towards the 2. Crovides social
risks development of larger security
enterprise
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Secondary Others
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TERMINOLOG2 USED IN INSURANCE
*i#erent terms are used in the theory practice of insurance. Important among them
areE
In*r$'"the party or the individual, who seeks protection against a speci%ed risk is
entitled to receive Cayment from the insurer in the event of happening of the stated
event, is known as the insured. An insured is normally an insurance policy holder.
In*r$r"the party which promises to pay indemnity to the insured on the happening
of any contingency is known as the insurer. $he insurer is an insurance company.
B$n$-(iar+"the person or the party to whom the policy proceeds will be paid in the
event of the death or the happening of any contingency is called the bene%ciary.
Po)i(+"the term policyis derived from the Italian word pla>a which means receipt.
$he document which contains the terms conditions of the insurance contract
issued by the insurer is known as the insurance policy.
In*r$' *"the sum for which the risk is insured is called the insured sum, thepolicy money or the face value of the policy. $his is the maximum liability of the
insurer towards the insured.
P$ri)" a peril is an event that causes a personal or the property loss, by %re,
windstorminsurer towards the insured.
P$ri)" a peril is an event that causes a personal or the property loss, by %re,
windstorm... explosion, collision, premature death. (ickness, 'oods etc.
Ha7ar'"it is a condition that may create, increase or decrease the changes of loss
from a given peril.
E8#o*r$"an exposure is a measure of physical extent of the risk.
Chan($ of )o"it is the probable number of times in any given number of exposures
that loss will occur. $he highestchance of loss is 0::that means the loss is certain.
)hen the chances of loss are >ero, the degree of risk is also >ero.15
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PRESENT SCENARIO
$he 4overnment of India liberali>ed the insurance sector in /arch 8::: with the
passage of the Insurance &egulatory and *evelopment Authority -I&*A 3ill, lifting all
entry restrictions for private players and allowing foreign players to enter the market
with some limits on direct foreign ownership. Hnder the current guidelines, there is a
8< percent e;uity cap for foreign partners in an insurance company. $here is a
proposal to increase this limit to 2= percent. Cremium rates of most general insurance
policies come under the purview of the government appointed $ari# Advisory
?ommittee. About 7 companies, including foreign ones, are going to be licensed soon
by Indias Insurance &egulatory and *evelopment Authority.
(ome of the foreign companies may include @rances largest insurance company S(or
Gro*#B a *i'iar+ of A*%ra)ia 9BE In*ran($ Gro*#: 9BE In*ran($:
Sa*ng Lif$, Kor$a o)'$% in*ran($ (o#an+: an' ;a#an Mi))$a
Ho)'ing.
$here are already 0< life insurers operating in India. $he life insurance industry is
growing by more than 1: per cent and the insurance industry is growing at 07"8: per
cent a year. )ith insurance premiums in India constituting only 1 per cent of the gross
domestic product, there is still room for growth.
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(aving rates have risen from 86 per cent in 8::7"8::< to 18 per cent in 8::ed. LI? formed by an Act of
parliament, vi>. LI? Act, 0=7
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company established in the year 067: in ?alcutta by the 3ritish. (ome of
the important milestones in the general insurance business in India areE
ation Act, 0=98 nationali>ed
the general insurance business in India with e#ect from 0stanuary"
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about 7 companies, including foreign ones, are going to be licensed soon by India s
Insurance &egulatory and *evelopment Authority.
(ome of the foreign companies may include @rances largest insurance company S(or
Gro*#B a *i'iar+ of A*%ra)ia 9BE In*ran($ Gro*#: 9BE In*ran($:
Sa*ng Lif$, Kor$a o)'$% in*ran($ (o#an+: an' ;a#an Mi))$a
Ho)'ing.
$here are already 0< life insurers operating in India. $he life insurance industry is
growing by more than 1: per cent and the insurance industry is growing at 07"8: per
cent a year. )ith insurance premiums in India constituting only 1 per cent of the gross
domestic product, there is still room for growth.
(aving rates have risen from 86 per cent in 8::7"8::< to 18 per cent in 8::
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?" $he Indian Insurance ?ompanies Act enacted to enable the government to
collect statistical information about both life and non life insurance
businesses.
ed. LI? formed by an Act of
parliament, vi>. LI? Act, 0=7ation Act, 0=98 nationali>ed
the general insurance business in India with e#ect from 0stanuary"
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Insurance sector reforms
In 0==1, /alhotra ?ommittee, headed by former @inance (ecretary and &3I 4overnor
&. +. /alhotra, was formed to evaluate the Indian insurance industry and recommend
its future direction.
$he /alhotra committee was set up with the objective of complementing the reforms
Initiated in the %nancial sector.
$he reforms were aimed at creating a more eFcient and competitive %nancial system
suitable for the re;uirements of the economy keeping in mind the structural changes
currently underway and recogni>ing that insurance is an important part of the overall
%nancial system where it was necessary to address the need for similar reforms
includedE
In 0==2, the committee submitted the report and some of the key recommendations
i5 S%r*(%*r$
4overnment stake in the insurance ?ompanies should be brought down to 7:.
4overnment should take over the holdings of 4I? and its subsidiaries so that these
subsidiaries can act as independent corporations. All the insurance companies should
be given greater freedom to operate
ii5 Co#$%i%ion
Crivate ?ompanies with a minimum paid up capital of &s.0bn should be allowed to
enter the industry. +o ?ompany should deal in both Life and 4eneral Insurance
through a single entity. @oreign companies may be allowed to enter the industry in
collaboration with the domestic companies. Costal Life Insurance should be allowed to
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operate in the rural market Only one (tate Level Life Insurance ?ompany should be
allowed to operate in each state
iii5 R$g*)a%or+ Bo'+
$he Insurance Act should be changed. An Insurance &egulatory body should be set up
?ontroller of Insurance -?urrently a part from the @inance /inistry should be made
independent
i&5 In&$%$n%
/andatory Investments of LI? Life @und in government securities to be reduced from
97 to 7:. 4I? and its subsidiaries are not to hold more than 7 in any company
-$here current holdings to be brought down to this level over a period of time
&5 C*%o$r S$r&i($
LI? should pay interest on delays in payments beyond 1: days. Insurance companies
must be encouraged to set up unit linked pension plans ?omputeri>ation of operations
and updating of technology to be carried out in the insurance industry.
$he committee emphasi>ed that in order to improve the customer services and
increase
the coverage of the insurance industry should be opened up to competition. 3ut at the
same time, the committee felt the need to exercise caution as any failure on the part
of
new players could ruin the public con%dence in the industry.
ence, it was decided to allow competition in a limited way by stipulating the
minimum
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capital re;uirement of &s.0:: crores. $he committee felt the need to provide greater
autonomy to insurance companies in order to improve their performance and enable
them to act as independent companies with economic motives. @or this purpose, it had
Croposed setting up an independent regulatory body. $he Insurance &egulatory and
*evelopment Authority &eforms in the Insurance sector were initiated with the
passage of the I&*A 3ill in Carliament in *ecember 0===.$he I&*A since its
incorporation as a statutory body in April 8::: has fastidiously stuck to its schedule of
framing regulations and registering the private sector insurance companies.
$he 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
I&*As online service for issue and renewal of licenses to agents.
$he 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, which are expected to be introduced by early next year.
(ince being set up as an independent statutory body the I&*A has put in a framework
of globally compatible regulations. In the private sector 08 life insurance and < general
insurance companies have been registered.
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T2PES OF POLICIES
Life insurance is all making sure your family has ade;uate %nancial resources to
make those plans and dreams come true. It provides %nancial protection to help
your family or business to manage after your death.
@ew of the Life insurancepolicies areE
Who)$ )if$ #o)i(i$" ?over the insured for life. $he insured does not receive
money while he is aliveB the nominee receives the sum assured plus bonus
upon death of the insured...
En'o/$n% #o)i(i$" ?over the insured for a speci%c period. $he insured
receives money on survival of the term and is not covered thereafter.
Mon$+ a(! #o)i(i$" $he nominee receives money immediately on death of
the insured. On survival the insured receives money at regular intervals during
the term. $hese policies cost more than endowment with pro%t policies.
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Ann*i%i$ 1 Chi)'r$n #o)i(i$" $he nominee receives a guaranteed
amount of money at a pre"determined time and not immediately on death of
the insured. On survival the insured receives money at the same pre"
determined time. $hese policies are best suited for planning childrenKs future
education and marriage costs.
P$nion (h$$" are policies that provide bene%ts to the insured only upon
retirement. If the insured dies during the term of the policy, his nominee would
receive the bene%ts either as a lump sum or as a pension every month.
(ince a single policy cannot meet all the insurance objectives, one should
have a portfolio of policies covering all the needs.
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COMPAN2
PROFILE
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!otak /ahindra Old /utual Life Insurance Ltd. is a joint venture between !otak
/ahindra 3ank Ltd. -!/3L, and Old /utual plc. At !otak Life Insurance, we aim to
help customers take important %nancial decisions at every stage in life by o#ering
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them a wide range of innovative life insurance products, to make them %nancially
independent.
Ko%a! Mahin'ra Gro*#
O0ER0IEW
!otak /ahindra is one of IndiaKs leading %nancial conglomerates, o#ering complete
%nancial solutions that encompass every sphere of life. @rom commercial banking, to
stock broking, to mutual funds, to life insurance, to investment banking, the group
caters to the diverse %nancial needs of individuals and corporate.
$he group has a net worth of over &s. 1,16: crore, employs around 08,1:: people in
its various businesses and has a distribution network of branches, franchisees,
representative oFces and satellite oFces across 18: cities and towns in India and
oFces in +ew Jork, London, *ubai, /auritius and (ingapore. $he 4roup services
around 8.= million customer accounts.
$he journey so far In October 8::7, !otak 4roup ac;uired the 2: stake in !otak
Crime held by @ord ?redit International -@?I and @?I ac;uired the stake in @ord ?redit
!otak /ahindra -@?!/ held by !otak 4roup.
In /ay 8::
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Old /utual plc. owns some of the largest companies in the following areas in (outh
Africa
+o. 0 " Life Insurance ?ompany
+o. 0 " Asset /anagement ?ompany
+o. 2 " 3ank
+o. 8 " +on"Life Insurance ?ompany
SUBSIDIARY COMPANIES OF KOAK
Kota! Mahindra Ban! "td#
Kota! Mahindra Ca$ita% Com$any "td#
Kota! Mahindra Internationa% "imited &KMI"'
Kota! Mahindra Prime "td#
Kota! Sec(rities
Kota! Mahindra Asset Mana)ement Com$any
Ko%a! Mahin'ra Ban!E $he !otak /ahindra 4roupKs 'agship company, !otak
/ahindra @inance Ltd which was established in 0=67, was converted into a bank" !otak
/ahindra 3ank Ltd in /arch 8::1 becoming the %rst Indian company to convert into a
3ank. Its banking operations o#er a central platform for customer relationships across
the groupKs various businesses. $he bank has presence in ?ommercial Mehicles, &etail
@inance, ?orporate 3anking, $reasury and ousing @inance.
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Ko%a! Mahin'ra Ca#i%a) Co#an+E !otak /ahindra ?apital ?ompany Limited
-!/?? is IndiaKs premier Investment 3ank. !/??Ks core business areas include 5;uity
Issuances, /ergers Ac;uisitions, (tructured @inance and Advisory (ervices.
Ko%a! S$(*ri%i$" !otak (ecurities Ltd. is one of IndiaKs largest brokerage and
securities distribution houses. Over the years, !otak (ecurities has been one of the
leading investment broking houses catering to the needs of both institutional and non"
institutional investor categories with presence all over the country through franchisees
and coordinators.
Ko%a! Mahin'ra Pri$ !otak /ahindra Crime Limited -!/C -formerly known as!otak /ahindra Crimus Limited has been formed with the objective of %nancing the
retail and wholesale trade of passenger and multi utility vehicles in India. !/C o#ers
customers retail %nance for both new as well as used cars and wholesale %nance to
dealers in the automobile trade. !/C continues to be among the leading car %nance
companies in India.
Ko%a! Mahin'ra A$% Manag$$n% Co#an+!otak /ahindra Asset /anagement
?ompany -!/A/?, a subsidiary of !otak /ahindra 3ank, is the asset manager for
!otak /ahindra /utual @und -!//@. !//@ manages funds in excess of &s 09,8::
crore and o#ers schemes catering to investors with varying risk"return pro%les. It was
the %rst fund house in the country to launch a dedicated gilt scheme investing only in
government securities.
Ko%a! Mahin'ra O)' M*%*a) Lif$ In*ran($ Lii%$'!otak /ahindra Old /utual
Life Insurance Limited is a joint venture between !otak /ahindra 3ank Ltd. and Old
/utual plc. !otak Life Insurance helps customers to take important %nancial decisions
at every stage in life by o#ering them a wide range of innovative life insurance
products, to make them %nancially independent.
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/anagement team
He is the chief operating officer of the compan ho!"s ca# ic$a an" cs "egrees an"possesses 26 ear $or% e&perience' (or%e" $ith )n"ian corporate !i%e n""*# m"s
s$itchgear an" +icho!as pirama!' ,o-e" on to an assignment $ith ion e&change !t"$here he ass.me" -aring positions e-ent.a!! ho!"ing the position of compan
secretar an" genera! manager' )mme"iate! prior to %mom# he he!" the position of
/pfinance at .arat g!ass !t"' t %mom# he o-ersees a!! aspects of finance an" c!ient
ser-icing# inc!."ing operations# reg.!ator# interna! contro!# finance an" acco.nts an"treas.r'
'
Mr# Rah(% Sinha(*ead+Mar!etin) De$artment'
Mr# ,a(ran) shah &mana)in) director'
)+):; 20oc.ments=profi!es=images=re"in'gif< ?@ ,;AB;,:)+:
,r' Chah is the managing "irector of the compan' He is a chartere" acco.ntant a
cost acco.ntant an" a compan secretar $ith a c.m.!ati-e e&perience of 23 ears
primari! in financia! ser-ices# se-era! of those in *.i!"ing the retai! finance*.siness' ,r' a.rang shah has *een $ith the %ota% gro.p for o-er a "eca"e' .ring
his stint $ith the gro.p# he has he!" "ifferent positions of great responsi*i!it an"
.gg!e" m.!tip!e tas%s effecti-e!' rior to %ota% !ife ins.rance# ,r' Chah $as hea"of retai! asset finance gro.p of %ota% mahin"ra *an% an" the oint -ent.res of %ota%
mahin"ra *an% an" for" cre"it for f.n"ing a.tomo*i!es'
CH ?@
,;AB;,:
Mr# Ar(n Pati% &-ice $resident + sa%es . mana)ement de-e%o$ment'
He hea"s the training an" management "e-e!opment f.nction' post gra".ate $ith !a$
D.a!ifications# he has o-er 22 ears e&perience in !ife ins.rance in".str' starte" hiscareer $ith !ic% an" on foreign "ep.tation to Aii is!an"s for 5 ears# ,r' ati!
s.*stantia!! increase" the mar%etshare of !ic in competiti-e en-ironment 'after hea"ing
!icEs premier ,.m*ai "i-ision# he oine" the then icecap !t"' s a mem*er of the
ins.rance -ent.re team an" !ater $or%e" for icici pr."entia! !ife ins.rance compan ashea" of sa!es "e-e!opment' ,r' ati! present! has responsi*i!ities to enhance the s%i!!s#
%no$!e"ge# pro".cti-it# competence an" professiona!ism of the sa!esforce
;ah.! Cinha hea"s the ,ar%eting "epartment' Fache!or of :echno!og
Getro!e.m ngineering an" a ost ra".ate ip!oma in ,anagement )), Fanga!ore# ;ah.! comes $ith o-er 11 ears of rich e&perience in ,ar%eting an"
Ca!es' rior to oining I)# ;ah.! $or%e" $ith ): imite" in its :o*acco
*.siness in Ca!es in -ario.s geographies of )n"ia an" han"!e" mar%eting for):s most prestigio.s *ran" (i!!s' )n his !ast assignment at ):# he $as Hea"
of Ca!es an" ,ar%eting for the reeting# ifting an" Ctationer F.siness an"
$as instr.menta! in creating the Fran" !assmate J &pressions'
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Mr# S()ata D(tta &*ead+*(man Reso(rces and Administration /(nction'
Mr# Bryce 0ohns(De-e%o$ment Act(ary and a%so the Chie/ In-estment O//icer'
,echanica! ngineer from F):# ,esra G1990 an" has ost ra".ate ip!oma
in )n".stria! ngineering from +ationa! ro".cti-it co.nci! has specia!iKe" inH.man ;eso.rces rea' Has $or%e" for +ationa! ro".cti-it o.nci!# scortsro.p# anon an" )n"ia :o"a ro.p' His !ast position *efore oining Iota% ife
$as ro.p enera! ,anager H.man ;eso.rce# )n"ia :o"a ro.p for a!!
,e"ia F.sinesses Hea"s the H.man ;eso.rce A.nction an" is responsi*!e for;ecr.itment# ompensation# areer ,anagement an" "ministration for the
BrganiKation
He is the "e-e!opment ct.ar an" a!so the hief )n-estment Bfficer' Fache!or
of F.siness Ccience# ct.aria! an" Ainance from the ni-ersit of ape :o$n#
Frce comes $ith a rich e&perience of o-er 10 ears in financia! ser-ices' He is afe!!o$ of :he )nstit.te of ct.aries in the nite" Iing"om' Frce has $or%e"
$ith B!" ,.t.a! since 2000 in "i-erse areas !i%e ro".ct e-e!opment#
istri*.tion an" ,ar%eting Ctrateg# Ainance J apita! ,anagement' rior tothat he $as in-o!-e" in the fie!" of pri-ate eD.it an" infrastr.ct.re finance'
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KOAK C*I"D AD1ANA,E P"AN
Iota% chi!" a"-antage p!an is "esigne" to meet o.r chi!"s f.t.re financia! nee"s' )ts a p!an that gi-es o.r
chi!" L) to rea!iKe his "ream'
"Who can avail of this plan?"HOW OLD DOES THE CHILD HAVE TO BE TO AVAIL OF THISPLAN?
Minimum age - 0 yearsMaimum age -!" years
FO# WHAT TE#M CAN I AVAIL OF THIS PLAN? !0 - $0 yearsWHAT IS THE MA%IM&M S&M ASSED ALLOWED &NDE#THIS PLAN?
#s'()*00*000
"What are the advantages of this plan?"
!' On Ma+uri+y* y,u ,u./ reei1e +2e sum assure/ 3.us +2e 4,nus a//i+i,n' B,nus a//i+i,n is +2e am,un+ in +2e
Aumu.a+i,n A,un+* in eess ,5 +2e sum assure/'(' T2e 4a.ane a1ai.a4.e in +2e Aumu.a+i,n A,un+ is in1es+e/ in 1ari,us 5inania. ins+rumen+s 6as 3er I#DA
regu.a+i,ns7 s, y,ur m,ney ,r8s 2ar/ +, earn m,re 5,r y,ur 2i./'$' T2e Au+,ma+i C,1er Main+enane 5ai.i+y ensures +2e 3,.iy remains in 5,re e1en i5 y,u miss 3remium
3aymen+s' T2is 5ai.i+y is a1ai.a4.e a5+er +2e 5irs+ +2ree years ,5 +2e Term'9' :,u an +a8e a .,an agains+ +2is 3.an* a5+er +2e 3,.iy 2as 4een in 5,re 5,r a+ .eas+ +2ree years')' :,u 2a1e +2e 4ene5i+ ,5 a !) /ay 5ree .,,8 3eri,/'
"How does this plan work?"Mr' San;ay
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What is Kotak Endowment Plan?"
>,+a8 En/,men+ P.an is a 3r,+e+i,n 3.an +2a+ ,1ers y,ur .i5e an/ a+ +2e same +ime ensures +2a+ y,ur m,ney /,esn,+ .ie i/.e' I+ in1es+s a 3,r+i,n ,5 y,ur 3remium in 5inania. ins+rumen+s an/ ensures a ,nsi/era4.e gr,+2 in sa1ings'
T2is is a 3ar+ii3a+ing 3.an 6i+2 3r,5i+s7'
"Who can avail of this plan?"
HOW OLD DO :O& HAVE TO BE TO AVAIL OF THISPLAN?
Minimum age - !@ yearsMaimum age - =) years
FO# WHAT TE#M CAN I AVAIL OF THIS PLAN? !0-$0 years
WHAT IS THE MA%IM&M Ath year5Sine Mr'
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!otak $erm Clan is a pure risk product that aims to cover your life at a nominal cost.
Jou may want to take this plan to cover your outstanding debts like a mortgage, a
home loan etc. (ince this is a pure risk cover product, there are no maturity bene%ts
payable on survival.
Who (an a&ai) of %hi #)anO) OL* *O JOH AM5 $O 35 $O AMAIL O@$I( CLA+N
/inimum age " 06 years/aximum age "
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pays is &s.1,929 annually. In the event of his unfortunate death during the next ten
years, his family would receive &s.0:,::,:::.
KOTAK RETIREMENT INCOME PLAN
$he !otak &etirement Income Clan is a savings plan designed to meet your post"
retirement needs. It is a plan that gives you Qeene ki a>aadiQ.$he !otak &etirement
Income Clan is a participating plan. $he plan comes in two formsE
-i )ith ?over -ii )ithout ?over.
Who (an a&ai) of %h$ Ko%a! R$%ir$$n% In(o$ #)an
HOW OLD DO :O& HAVE TO BE TO AVAIL OF THIS PLAN?Minimum age - !@ yearsMaimum age - =0 years
FO# WHAT TE#M CAN :O& CHOOSE TO PA: THEP#EMI&MS?
) yrs - $0 yrs
HOW OLD DO :O& HAVE TO BE TO #ECEIVE :OANN&IT:?
Minimum Age - 9) yrsMaimum Age - =) yrs
AT WHAT INTE#VALS CAN :O& PA: THE P#EMI&M?Guar+er.yHa.5 :ear.y
Annua..y
Wha% ar$ %h$ a'&an%ag$ of %hi #)an
!' :,u an 2,,se +, re+ire a+ any age 4e+een 9) yrs an/ =) yrs'
(' On Retirement::,u may +a8e a .um3 sum in as2 ,5 u3 +, a +2ir/ ,5 y,ur Basi Sum Assure/ ,r Aumu.a+i,nA,un+* 2i2e1er is 2ig2er an/ +2e 4a.ane ,5 +2e 4ene5i+ y,u are e.igi4.e 5,r i.. 4e use/ +, 4uy an annui+y
,5 y,ur 2,ie'
$' Annuity Options:
:,u may 4uy an annui+y ei+2er 5r,m >,+a8 Li5e Insurane 6su4;e+ +, +2e 2,ie an/ ra+es a1ai.a4.e a+ +2a+
+ime7* ,r 5r,m any ,+2er insurer'
9' Early Retirement ene!its:
:,u may ,3+ +, re+ire ear.y* i'e' a+ any age 4e5,re +2e n,rma. re+iremen+ /a+e 6su4;e+ +, +2e 3,.iy 4eing in
5,re 5,r $ years ,r y,ur a++aining a minimum age ,5 9) yrs* 2i2e1er is .a+er7' :,u an +2en seure 4ene5i+s
i+2 y,ur Aumu.a+i,n A,un+* ne+ ,5 an ear.y re+iremen+ 2arge ,5 )'
I5 +2e ear.y re+iremen+ is /ue +, i.. 2ea.+2* +2en y,u may re+ire 4e5,re a++aining +2e age ,5 9)' :,u an +2en
seure 4ene5i+s i+2 y,ur 5u.. Aumu.a+i,n A,un+'
)' Late Retirement ene!its:
:,u may ,3+ +, re+ire a5+er +2e re+iremen+ /a+e ,rigina..y se.e+e/* an/ se.e+ a ne re+iremen+ /a+e 6su4;e+ +,
a maimum ,5 =) years7' N, 5ur+2er 3remiums i.. 4e 3aya4.e an/ +2e /ea+2 4ene5i+ i.. 4e eua. +, +2e
4a.ane in Aumu.a+i,n A,un+' 6H,e1er* a.. ri/ers i.. ease a+ +2e ,rigina. re+iremen+ /a+e7'
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=' :,u an ma8e .um3-sum in;e+i,ns in+, y,ur 3,.iy a+ any +ime 4e5,re re+iremen+ 6su2 %(m$+s(m in?ections
/uring a year may n,+ eee/ () ,5 +2e Basi Sum Assure/7' A Su33.emen+ary Aumu.a+i,n A,un+ i.. 4e
rea+e/ 5,r +2is* an/ i.. 4e 3ai/ ,u+ in +2e same manner as ,+2er 4ene5i+s'
"' :,u may eerise +2e ,3+i,n ,5 3aying 3remiums 5r,m +2e S($$%ementary Acc(m(%ation Acco(nt* rea+e/ 5,r
.um3-sum in;e+i,ns* i5 +2e nee/ arises'
@' F,r a Wi+2 C,1er 3.an* y,u 2a1e +2e 5ai.i+y ,5 A(tomatic Co-er Maintenance* 2i2 ensures +2a+ +2e ,1er
remains in 5,re e1en 2en y,u miss +2e 3remium 3aymen+s' T2is 5ai.i+y is a1ai.a4.e a5+er +2e 5irs+ +2ree years
,5 +2e +erm'
Ho/ 'o$ %h$ Ko%a! R$%ir$$n% In(o$ P)an /or!
Mr' Me2+a is a $)-year-,./ man* 2, is2es +, re+ire a+ age =0' He +a8es +2e >,+a8 #e+iremen+ In,me P.an i+2 a
Basi Sum Assure/ ,5 #s' $ .a82s' He ,nsi/ers +2e 5,..,ing +, ,3+i,ns 2ith Co-er - O3+i,n A* an/ 2itho(t
Co-er - O3+i,n B'
Option A Option
>OTA> #ETI#EMENT INCOME PLAN P#EMI&M #s *")0 #s *0=0TE#M BENEFIT P#EMI&M 6$ LA>HS OF COVE#7 #s !*@!@
ACCIDENTAL DEATH BENEFIT P#EMI&M 6$ LA>HS OFCOVE#7
#s (=)
TOTAL ANN&AL P#EMI&M PAID Rs ==7;:< Rs @798;
4a5Wha% i %h$ $n$-% a&ai)a)$ %o Mr.M$h%a on r$%ir$$n%"
Under O$tion A7
Assuming +2a+ Mr' Me2+aJs Aumu.a+i,n A,un+ gr,s a+ = 3'a* +2e 5un/ a1ai.a4.e +, 2im i.. 4e #s' 9*="*)00'
Assuming +2a+ i+ gr,s a+ !0* +2en +2e 5un/ a1ai.a4.e +, 2im i.. 4e #s' @*"0*000'
Mr' Me2+a may ,mmu+e u3+, a +2ir/ in as2 imme/ia+e.y* an/ 4uy an annui+y i+2 +2e remaining 4ene5i+'
Under O$tion B7
Assuming +2a+ Mr' Me2+aJs Aumu.a+i,n A,un+ gr,s a+ = 3'a* +2e 5un/ a1ai.a4.e +, 2im i.. 4e #s'9*=$*000'
Assuming +2a+ i+ gr,s a+ !0* +2en +2e 5un/ a1ai.a4.e +, 2im i.. 4e #s' @*)=*=00'
Mr' Me2+a may ,mmu+e u3+, a +2ir/ in as2 imme/ia+e.y* an/ 4uy an annui+y i+2 +2e remaining 4ene5i+'
45 Wha% i %h$ $n$-% a&ai)a)$ in %h$ $&$n% of %h$ *nfor%*na%$
'$a%h of Mr. M$h%a af%$r
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Mr' Me2+aJs 4ene5iiary i.. 4e e.igi4.e 5,r +2e grea+er ,5 #s' $ .a82s ,r +2e 4a.ane in +2e Aumu.a+i,n A,un+' T2e
4a.ane in +2e Aumu.a+i,n A,un+ i.. 4e .ess +2an #s' $ .a82s e1en i5 +2e aumu.a+i,n a,un+ gr,s a+ !0 3er
annum' Hes2e i.. a.s, reei1e an a//i+i,na. #s'$ .a82s un/er +2e Term Bene5i+ as Mr' Me2+a a1ai.e/ ,5 +2is 1a.ue-
a// 4y 3aying a n,mina. 3remium ,5 #s'!*@!@ 3'a* 5,r i+' T2e 4ene5iiary may ,mmu+e u3+, a +2ir/ in as2
imme/ia+e.y* an/ 4uy an annui+y 5r,m +2e remaining 4ene5i+'
"nder Option #
Mr' Me2+aJs 4ene5iiary i.. 4e e.igi4.e 5,r #s' !*)*900 i5 2is Aumu.a+i,n A,un+ gr,s a+ = 3er annum* an/ #s'
(*")*=00 i5 2is Aumu.a+i,n A,un+ gr,s a+ !0 3er annum' In +2e e1en+ +2a+ Mr' Me2+aJs /ea+2 2as 4een /ue +, an
ai/en+* +2en 2is 4ene5iiary i.. reei1e an a//i+i,na. #s'$ .a82s un/er +2e Ai/en+a. Dea+2 Bene5i+* as Mr' Me2+a
a1ai.e/ ,5 +2is 1a.ue-a// 4y 3aying a minima. 3remium ,5 #s'(=) 3'a' 5,r i+' T2e 4ene5iiary may ,mmu+e u3+, a +2ir/
in as2 imme/ia+e.y* an/ 4uy an annui+y i+2 +2e remaining 4ene5i+'
BIRLA SUN LIFE INSURANCE COMPAN2
3irla (un Life Insurance ?ompany Limited is a joint venture between $he Aditya 3irla
4roup, one of the largest business houses in India and (un Life @inancial Inc., a leading
international %nancial services organisation. $he local knowledge of the Aditya 3irla
BIR"A SUN
"IFE
INSURANCE
ADIYA
BIR"A
,ROUP
SUN"IFE
FINANCIA"
INC#
42
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4roup combined with the expertise of (un Life @inancial Inc., o#ers a formidable
protection for your future.
$he Aditya 3irla 4roup has a turnover close to &s. 16::: crores with a market
capitalisation of &s. 712:: crores -as on 10st /arch 8::
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,m3any in emen+ing i+s 3.ae am,ngs+ +2e .ea/ers in +2e in/us+ry in +erms ,5 ne 4usiness
3remium in,me' T2e ,m3any 2as a a3i+a. 4ase ,5 #s 9=0 r,res as ,n $!s+ Mar2*(00='
PRODUCS
rotectionM
Fir!a C.n!ife term p!an
remi.m *ac% term p!an
Ca-ingM
A!e&i cash f!o$
A!e&i sa-e p!.s Ai&e" !ife !ine
C.preme !ife
Cimp! !ife
ream p!an
!assic !ife premier
Cing!e premier *on"
44
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rime !ife
rime !ife premier
ife companion
;etirementM
A!e&i sec.re !ife retirement p!an ))
hi!"renM
hi!"rens "ream p!an
;.ra!M
Fima %a-ach ona
1ision
:o *e a $or!" c!ass pro-i"er of financia! sec.rit to in"i-i".a!s an" corporate an" to *e
amongst the top three pri-ate sector !ife ins.rance companies in )n"ia
Mission
:o *e the first preference of o.r c.stomers * pro-i"ing inno-ati-e# nee" *ase" !ife ins.rance
an" retirement so!.tions to in"i-i".a!s as $e!! as corporates' :hese so!.tions $i!! *e ma"e
a-ai!a*!e * $e!!traine" professiona!s thro.gh a m.!ti channe! "istri*.tion net$or% an"
s.perior techno!og'
B.r en"ea-or $i!! *e to pro-i"e constant -a!.e a""ition to c.stomers thro.gho.t their
re!ationship $ith .s# $ithin the reg.!ator frame$or%' (e $i!! pro-i"e career "e-e!opment
opport.nities to o.r emp!oees an" the
highest possi*!e ret.rns to o.r shareho!"ers'
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$alues: )ntegrit
ommitment
assion
assion
Ceam!essness
Cpee"
"IFE COMPANION ENDO2MEN&4s%i'
$he Life ?ompanion 5ndowment plan gives you family protection and helps your
savings over long term. ItKs a plan that not only %ts your budget but also takes care of
your varied needs. It provides for emergency support for education, marriage and
medical costs by blending life insurance protection and long term savings. 4iving you
complete peace of mind. No/ fai)+ hi -% ,*'g$% hi -%.
Who (an a&ai) of %hi #)an
HOW OLD DO :O& HAVE TO BE TO AVAIL OF THIS PLAN?Minimum age $0 /aysMaimum age =0years
FO# WHAT TE#M CAN I AVAIL OF THIS PLAN? !)-$0 yearsWHAT WILL BE THE MINIM&M S&M ASSED?WHAT IS THE MA%IM&M A
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!' On ,m3.e+i,n ,5 +2e 3,.iy /ura+i,n* y,u i.. reei1e a minimum guaran+ee/ am,un+ eua.+, +2e Sum Assure/' In ase +2e Fun/ Va.ue ,n ma+uri+y is 2ig2er* +2en Fun/ Va.ue i.. 4e3ai/ ins+ea/ ,5 Sum Assure/
(' T2e /ea+2 4ene5i+ is +2e am,un+ 3aya4.e +, y,ur n,minees in ase ,5 /ea+2' T2e 4ene5i+am,un+ i.. 4e eua. +, +2e sum ,5 +2e Sum Assure/ an/ +2e en+ire Fun/ Va.ue a+ +2e +ime,5 /ea+2
$' In ase ,5 /ea+2 as a resu.+ ,5 an ai/en+ an a//i+i,na. am,un+ eua. +, +2e Sum Assure/2,sen 4y y,u i.. 4e 3aya4.e +, y,ur n,minee' T2e maimum am,un+ i.. 4e #s'!0 .a82ar,ss a.. Li5eC,m3ani,n En/,men+ 3,.iies ,ne/ 4y y,u' T2is 4ene5i+ is a1ai.a4.e ,n.yin ase ,5 /ea+2 in an ai/en+ 4e+een +2e ages ,5 !@ an/ =) years
9' :,u s+an/ +, gain an a//i+i,na. ) ,5 +2e Fun/ Va.ue as
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0. In the unfortunate event of your demise, your child -the nominee will receivethe 3asic (um Assured plus any 5nhanced (um Assured you have selected.
8. Our ?hildrens *ream Clan comes with three 4uaranteed /aturity Optionsdesigned to allow you to secure more for your child with three separate maturityamount payout schedules.
&s. 97,::: for the 0:: 4uaranteed /aturity option
&s.19,7:: for the8:: 4uaranteed /aturity option
&s.87,::: for the1:: 4uaranteed /aturity option
1. )e o#er three investment funds to suit your particular investment needs Crotector, 3uilder and 5nhancer.
2. )e give you the option to increase this protection to suit your particularinsurance needs. (imply specify the amount you want -the 5nhanced (umAssured in addition to the 3asic (um Assured and your insurance protection wille;ual the sum of the 3asic and 5nhanced (um Assured.
7. In this plan, the investment risk in the investment funds chosen by you is borneby you.
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WHAT WILL BE THE MINIM&M S&M ASSED?
!0 years6regu.ar3remium7#s ))*0006sing.e3remium7#s )0*0006 regu.ar3remium7
WHAT IS THE MA%IM&M VESTIN< A
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Only amount paid in excess of the Annual premium in any policy year will be
considered as a top up amount.
Ann(ity PhaseOn the date of vesting, you can either
)ithdraw one third of the policy fund as a lump sum and utilise the remaining
portion of the fund to purchase any annuity provided by us then and at the thenprevailing rates or buy an annuity from any other Annuity Crovider in the marketBor
Htilise the entire policy fund to purchase any annuity provided by us then and at
the then prevailing rates or buy an annuity from any other Annuity Crovider inthe market.
BIR"A SUN "IFE ERM P"AN
$he plan has been designed for people who want to avail of the bene%ts of lifeinsurance at low cost. It is a low premium, pure risk coverage plan which takes care ofyour %nancial commitments towards your family or dependants, should anythingunfortunate happen to you.
Who (an a&ai) of %hi #)an
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O) OL* *O JOH AM5 $O 35 $O AMAIL O@ $I( CLA+N/inimum age " 06 years/aximum age " 77years
@O& )A$ $5&/ ?A+ I AMAIL O@ $I( CLA+N
)A$ )ILL 35 $5 /I+I/H/ (H/ A((H&5*N
7 years-single premium0: years-regular premium&s 87:,::: -single premium&s 8::,:::-regular premium
@O& )A$ $5&/ ?A+ I AMAIL O@ $I( CLA+N 7"87 years
Wha% ar$ %h$ a'&an%ag$ of %hi #)an0. &iders " Accidental *eath *ismemberment &ider, ?ritical Illness &ider, )aiver
Of Cremium &iders available along with the plan, you can avail of riders even inthe case of (ingle Cremium Colicy.
8. @avourable $erm " @avourable Cremium &ates for @emale ?lient.1. @ace Malue &ebate " Attractive &ebate for @ace Amounts e;ual to or greater than&s.7 Lakhs for regular pay and for face amount greater than or e;ual to 9 Lakhsfor single pay.
2. @ree Look Ceriod " &eview your decision for 07 days from the date of receipt ofthe policy document.
7. Large life cover at low cost
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)ith over 019 years of experience, the /etLife companies serve millions of customers
in the Americas and Asia with one goal in mind to build %nancial freedom for
everyone. $he /etLife companies are a leader in group bene%ts that serve 66 of the
top one hundred @O&$H+5 7::D companies, and provide bene%ts to 19 million
employees and family members through its plans sponsors in the H.(. $he /etLife
companies are also ranked R0 in group life and R0 in commercial dental in the H.(.
$he /etLife companies are the number one life insurer in the H.(. with approximately
H( S8.6 trillion of life insurance in force.
In India, /etLife was incorporated in 8::0, and aims to di#erentiate itself through
customi>ed need based selling, simple and innovative products, and technology"
backed service experience, to tread its path to build %nancial freedom for everyone.
Mission 6 1ision 6 1a%(es
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O*r 0iion an' Miion
3uild %nancial freedom for all through leadership in providing %nancial advice and
building long"term relationships through innovative protection, accumulation andretirement products, robust underwriting processes and creating world"class customerservice experience for our customers.
)e want to provide customers in India with world"class solutions for %nancial security,and in the process add signi%cant value to our shareholders, associates and society.
O*r Cor$ 0a)*$
)e lead through Innovation to o#er world class and competitive products to ourcustomers
)e build Long $erm &elationships with our customers by creating a world classservice experience through operational excellence and the innovative use oftechnology
)e create a ?ustomer ?entered and &esult @ocused Mision that inspires eachone of our Associates and has their buy"in
)e are committed to creating a igh Cerformance Organi>ation by creating anenvironment that allows each one of our Associates to perform at their peak. As
a result we will also be recogni>ed as an 5mployer of ?hoice
)e are committed to Cartnering with our internal and external ?ustomers formutual success
)e work with Integrity, @airness and @inancial Crudence in all our dealingskeeping the interests of our (hareholders, ?ustomers and Associates paramount
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Cor$orate Partners
s the -ita! channe! for ,etifes pro".cts# $e ha-e chosen some e&emp!ar *an%s an" financia!
instit.tions' :hese $i!! ser-e as the interface *et$een o.r c.stomers an" .s to ai" .s .n"erstan" the .niD.e
nee"s an" aspirations of e-er )n"ian' n" .p"ate o.r pro".cts $ith feat.res that form the cornerstones of
financia! free"om'
Dhana%a!shmi Ban!
Karnata!a Ban!
Ais Ban!
0.K Ban!
Other Partners
KAR1Y
,EO0I SECURIIES
2AY82EA"*
MINI MU*OO*U
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Pro'*(%
A((**)a%ion
)hole Life Colicy
/et 0::" Limited Cay )hole life +on " Carticipating
/et 0::" Limited Cay )hole life Carticipating
5ndowment Colicy
/5$ (uvidha
/oney 3ack Colicy
/et (ukh /oney 3ack +on Carticipating
/et 3havishya
M*)%i P*r#o$
/et (mart Clus /et (mart Cremier
/et (mart Clus " (ingle Cay
/et (mart Cremier " (ingle Cay
Pro%$(%ion
/et (uraksha " $&OC
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/et (uraksha " $A
/et"/ortgage Crotector (CGLimited pay-/&$A
R$%ir$$n%
/5$ Cension " Carticipating *eferred Annuity
/5$ Advantage Clus
A'' On
Accidental *eath 3ene%t -A*3
$erm &ider
)aiver Of Cremium
?ritical Illness
ME SU1ID*A
,: C.-i"ha# a f!e&i*!e en"o$ment p!an# com*ines sa-ings $ith sec.rit that pro-i"es o. the .niD.eoption of f!e&i*i!it of choosing *oth# the term of the po!ic an" the premi.m paing term' )t gi-es o. the
f!e&i*i!it of choosing a term an$here *et$een 530 ears' Co that# o. ha-e greater f!e&i*i!it in p!anningfor -ario.s mi!estones in o.r !ife'
"Who can avail of this plan?"
HOW OLD DO :O& HAVE TO BE TO AVAIL OF THISPLAN?
Minimum age !) yearsMaimum age - "0 years
FO# WHAT TE#M CAN I AVAIL OF THIS PLAN? )-$0 yearsWHAT IS THE MA%IM&M A
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NON-PA# 4ene5iiary i.. ge+ 4ase 5ae am,un+'=' T2ree 3remium 3aying ,3+i,ns are a1ai.a4.e- sing.e* .imi+e/ an/ regu.ar'
"How does this plan work?"
Mr' #a;i1* a $(-year ,./* marrie/ 3ers,n /ei/es +, in1es+ in MET S&VIDHA n,n-3ar 3,.iy* 5,r a5ae am,un+ ,5 #s )00*000' His 3remium i.. 4eA
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ME SMAR P"US
No. $ant to protect o.r fami! from !ifes .ncertaintiesO at the same time# o. $ish ins.rance $o.!" ie!"
higher ret.rns on o.r in-estments' No. $ant o.r ins.rance po!ic to he!p rea!iKe a!! o.r "reams' ,etCmart !.s is the ans$er for o.r D.est'
,et Cmart !.s is a transparent# nit in%e" $ho!e !ife p!an that mat.re at the age 100' :he premi.m o.pa is .se" part! for ins.rance co-er an" the *a!ance is in-este" in f.n"s to *. .nits'
"Who can avail of this plan?"HOW OLD DO :O& HAVE TO BE TO AVAIL OF THISPLAN?
Minimum age 0 yearsMaimum age "0 years
FO# WHAT TE#M CAN I AVAIL OF THIS PLAN? !00 years .ess y,ur age
WHAT IS THE MA%IM&M A
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"How does this plan work?"
MET BHA0ISH2A$his is a non par money back policy that provides guaranteed returns that specially
designed to meet childrens educational expenses at di#erent life stages. $here are
two options to choose from and %xed term bene%ts, periodic additions terminal
additions are payable based on the option that you select.
"Who can avail of this plan?"
O) OL* *O JOH AM5 $O 35 $O AMAIL O@ $I( CLA+N
?IL*( A45
CA&5+$( A45
OC$IO+ A OC$IO+ 3
:"6 Jrs. :"6Jrs.8:"7: Jrs. 8:"7: Jrs.
/I+I/H/ C&5/IH/
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In built )aiver of premium in case death of the life assured and the %xed term
bene%ts will continue post the death of the life assured to the bene%ciary
$he policy can be customi>ed through 2 riders " Accidental *eath 3ene%t,?ritical Illness -0: illness, )aiver of Cremium -Accidental *isability and $erm
&ider.
"How does this plan work?"
/r Ajay is aged 8< year years old and works for a software company in 3angalore. e
was recently married to (angeeta and has a < month year old baby. /r Ajay buys /et
3havishya option 3. e pays a premium of &s 70,:1: per year. e has a sum assured
of &s 0:,::,:::.
Chi)'
ag$Pa+o*%
for a #o)i(+ of
R &s 7: per &s 0::: of (um assured - 4uaranteedadditions and 8: of 4uaranteed additions @or 87
years of premium paying
&s.07,::,:::
In case of the unfortunate death of /r Ajay
(um assured of &s 0:,::,:::
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)aiver of all future premiums @ixed term bene%ts will continue as per the
policy schedule
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