BIRLA SUN LIFE INSURANCE

BACHELOR OF COMMERCE BANKING & INSURANCE SEMESTER V1 (2012-13)

SUBMITTED BY: PRANOTI S. MALVANKAR ROLL NO.57

PROJECT GUIDE: DR. DEELIP PALSAPURE

K.J SOMAIYA COLLEGE OF ARTS, & COMMERCE, VIDYAVIHAR (EAST), MUMBAI-400077

K.J SOMAIYA COLLEGE OF ARTS, & COMMERCE, VIDYAVIHAR (EAST), MUMBAI-400077

PROJECT ON: BIRLA SUNLIFE INSURANCE BACHELOR OF COMMERCE BANKING AND INSURANCE SEMESTER V1 (2012-13)

SUBMITTED In Partial Fulfillment of the requirements For the award of the Degree of Bachelor of Commerce-Banking & Insurance By PRANOTI S. MALVANKAR ROLL NO.57

K.J SOMAIYA COLLEGE OF ARTS,& COMMERCE, VIDYAVIHAR (EAST), MUMBAI-400077

CERTIFICATE
This is to certify that MISS. PRANOTI S. MALVANKAR of B.Com. Banking & Insurance Semester V1 (Academic Year) 2012-13 has successfully Completed Project On BIRLA SUNLIFE INSURANCE under the guidance of DR. DEELIP PALSAPURE

_________________ (Mrs. SMITA DAYAL)

Course Coordinator

_________________
(Dr. SUDHA VYAS)

Principal

_________________
Internal Examiner

_________________
External Examiner

_________________
(DR. DEELIP PALSAPURE)

Project Guide

DECLARATION

I, Miss. PRANOTI S. MALVANKAR the student of B.ComBanking & Insurance-SemesterVI (2012-13) hereby declare that I have completed Project on BIRLA SUNLIFE INSURANCE. Wherever the data/information has been taken from any book or other sources have been mentioned in bibliography. The information submitted is true and original to the best of my knowledge

Students signature _____________________ PRANOTI S. MALVANKAR (ROLL NO.57)

ACKNOWLEDGEMENT
On the event of completion of my project BIRLA SUNLIFE INSURANCE. I take the opportunity to express my deep sense of gratitude towards all those people without whose guidance, inspiration, & timely help this project would have never seen the light of day. Heartily thanks to Mumbai University for giving me the opportunity to work on this project. I would also like to thank my principal Dr. SUDHA VYAS for giving us this brilliant opportunity to work on this project. Any accomplishment requires the efforts of many peoples and this project is not different. I find great pleasure in expressing my deepest sense of gratitude Towards my project guide DR. DEELIP PALSAPUR. Whose guidance & inspiration right from the conceptualization to the finishing stages proves to be very essential & valuable in completion of the completion of the project. I would like to thank library staff, all my classmates, & friends for their invaluable suggestions & guidance for my project work. Lastly I would like to thanks my parents without whose consent & support it would have not been possible for me to this project.

Student Signature ______________ PRANOTI S. MALVANKAR

SR.NO
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.

TOPIC

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EXECUTIVE SUMMARY INTRODUCTION LIFE INSURANCE COMPANY PROFILE VISION, MISSION AND VALUES LIFE INSURANCE ARM OF BIRLA SUNLIFE INSURANCE SWOT ANALYSIS KEY PEOPLE OF ORGANISATION DETAILS OF PRODUCTS RECENT PRODUCTS LAUNCHED BY BIRLA SUNLIFE SALES PROCEDURE OF INSURANCE IN BIRLA SUNLIFE INSURANCE CONCLUSION RECOMMENDATIONS BIBLIOGRAPHY

12. 13. 14.

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Birla Sun Life Insurance EXECUTIVE SUMMARY

The Aditya Birla Group is led by its chairman- Mr. Kumar Manglam Birla. The Group has over 88000 employees across all its units worldwide. Some of the key organizations with the group are Hindalco, Grasim, Aditya Birla Nuvo, etc. BSLI has contributed to the growth and development of the Indian life insurance industry and currently is one of the leading life insurance companies in the country Birla Sun Life Insurance Company Limited operates as a private life insurance company in India. It offers linked and non-linked life insurance, protection solutions, childrens future solutions, health and wellness, retirement, and riders solutions; wealth with protection plans; rural solutions; and NRI solutions. The company markets its products to individual, health, and group businesses through individual agents, corporate agents, banks, brokers, and other intermediaries. The company was founded in 2000 and is headquartered in Mumbai, India. Birla Sun Life Insurance Company Limited is a subsidiary of Aditya Birla Nuvo Limited.

Birla Sun Life Insurance

INTRODUCTION

Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. An insurer is a company selling the insurance. The insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. The evolution of human beings from the primordial wild stage to the cave dwelling stage is nothing but their saga of search for security. Their quest for security is eternal. Life insurance is a device invented by them to seek security against the most important hazards against which they found themselves quite helpless. It will not be an exaggeration to say that progress of civilization is due to human beings unending pursuit for security. Life insurance in its modern form is a western concept. Although it started taking shape since last 300 years, it came to India with the arrival of the Europeans .the first life insurance company was established in India in 1818 as oriental life insurance company mainly by Europeans to provide for widows of Europeans. The companies that followed mainly catered to Europeans and charge extra premium on Indians lives. The first Indian company, insuring Indian lives at standard rates, was Bombay mutual life insurance company, which was formed in 1870.this was the year also when the first Insurance Act was passed by the British parliament. The years subsequent to the Swedishi Movement saw the emerging of several insurance companies.

Birla Sun Life Insurance

The end of the year 1955, there were 245 insurance companies and provident societies out of which 16 were non-Indian companies. These companies were nationalized in 1956 and brought under one umbrella the life insurance corporation of India, which enjoyed monopoly of life insurance business, till almost up to the end of year 2000.By enacting the IRDA Act 2000,the government of India effectively ended LICs monopoly and opened the doors for private insurance companies

Birla Sun Life Insurance LIFE INSURANCE

Life Insurance Policy is a form of security for the person who insures his life and his family. Life insurance policies have helped trade and other economic activities to flourish in a great manner. It has generated lots of job opportunities. It is looked upon as a lucrative career option. Life insurance companies have also entered the international business scenario.

The following reasons substantiate why a life insurance policy should be taken: A) Early Deaths The mortality rate is experiencing a declining trend in many parts of the world. However it is also important to note that the age at which People die is also ever decreasing. Some reasons for this include unhealthy living style, stress, pollution, and some natural calamities. This necessitates people to make adequate measures to yield income for their family and dependents. This could be a serious concern if the insured happens to be the sole breadwinner. Some individuals see this as an option to plan their retirement. B) Advancements in Health Care The mortality rate has declined rapidly even though the fact remains that the number of people who die at an early age is on the increase. This is mainly due to the advancement in healthcare and the awareness on medical facilities. This results in an increased spending at an old age. This increased spending is also due to increase in the costs of living apart from paying expensive medical bills. Unless they invest in Life insurance or other forms of insurance like health insurance it becomes next only too impossible to meet the financial demands especially during the old days.

Birla Sun Life Insurance

C) Increase in the Cost of Living and Spending Power The purchasing power of the consumers and the standard of living has experienced a steep rise over the years. The increase in National Income and gross domestic product are Partly responsible for this. Individuals incur many unexpected expenses due to the growing needs. Insurance comes in handy to meet such an unexpected expense. It also Makes sure that an individual is able to meticulously plan his finances.

Insurance option is more or less an interest free loan. An individual can cancel his insurance policy and obtain a huge amount if it is imperative in meeting an urgent expenses and he does not have alternative sources for finance. Life insurance companies therefore do the needful to consumers. D) Tax Concessions Income tax concessions are available to individuals and corporate houses that adopt insurance policies. Many have been making investments in Insurance with the sole aim of enjoying tax benefits. This naturally increases spending power. Since the investments increases the economic activities in the country automatically increases.

Birla Sun Life Insurance

COMPANY PROFILE Birla Sun Life A Coming Together Of Values

Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a leading international financial services organisation. The local knowledge of the Aditya Birla Group combined with the expertise of Sun Life Financial Inc., offers a formidable value proposition to customers.

Sun Life Financial and its partners today have operations in key markets worldwide, including India, Canada, the United States, the United Kingdom, Hong Kong, Philippines, Japan, Indonesia, China and Bermuda. Sun Life Financial Inc. had assets under management of over US$ 386.82 billion, as on 31 March 2007. Sun Life Financial Inc. is a leading performer in the life insurance market in Canada.

BSLI in its five successful years of operations has contributed significantly to the growth and development of the life insurance industry in India. It pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. It was the first player in the industry to sell
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Birla Sun Life Insurance

its policies through the Bank assurance route and through the internet. It was also the first private sector player to introduce a pure term plan in the Indian market. This was supported by sales practices, which brought a degree of transparency that was entirely new to the market. The process of getting sales illustrations signed by customers, offering a free look period on all policies, which are now industry standards were introduced by BSLI.

Being a customer centric company, BSLI has invested heavily in technology to build world class processing capabilities. BSLI has covered more than one and a half million lives since inception and its customer base is spread across 100 cities in India. All this has assisted the company in cementing its place amongst the leaders in the industry in terms of new business premium income. Birla Sun Life Insurance (BSLI), one of the leading private life insurers in India today announced the inimitable achiever, cricketer Kapil Dev as their corporate brand ambassador. Birla Sun Life Insurance is a value-driven brand which has a national brand recall of 70 per cent. The objective of appointing a brand ambassador is to grow its brand recall as it goes national in its distribution reach and fuel business growth. As a brand ambassador, Kapil Dev will play a key role in the brand and product marketing and promotional activities. BSLI has always used an integrated marketing approach, which will be strengthened further.

Commenting on the association with Kapil Dev, Mr. S. K. Mitra, Director, Financial Services, Aditya Birla Group and currently incharge of BSLI expressed, "The Birla Sun Life Insurance business distribution network is national in nature covering more than 1000 points across the country .We have made our entry in several tier I and tier II towns. It is therefore very important for the brand to connect at the grassroot level and create trust. We believe that our association with Kapil Dev as our brand ambassador will help us create this connect in a shorter period of

Birla Sun Life Insurance

time. We therefore now have two strong connects our parent brand Birla and our brand ambassador Kapil Dev".

About Birla Sun Life Insurance

Birla Sun Life Insurance (BSLI), in its five successful years of operations, has contributed significantly to the growth and development of the life insurance industry in India. It pioneered the launch of unit linked life insurance plans amongst the private players in India. It was the first player in the industry to sell its policies through the banc assurance route and through the internet. It was the first private sector player to introduce a pure term plan in the Indian market. This was supported by sales practices which brought a degree of transparency that was entirely new to the market. The process of getting sales illustrations signed by customers and offering a free look period on all policies, which are now industry standards, were introduced by BSLI. Being a customer-centric company, BSLI has invested heavily in technology to build world class processing capabilities. BSLI has covered more than a million lives since inception and its customer base is spread across more than 1000 towns and cities in India. All this has assisted the company in cementing its place amongst the leaders in the industry in terms of new business premium income. The company's current capital base is Rs.520 crore.

About the Aditya Birla Group

The Aditya Birla Group has a turnover close to Rs.38,000 crore (as on 31 March 2008) and is one of the largest business houses in India. It enjoys a leadership position in all the sectors in which it operates. With over 75 business units spanning the South East Asian belt, Africa, Canada and the UK among others, it is reckoned as India's first multinational corporation.

Birla Sun Life Insurance

About Sun Life Financial Inc.

Sun Life Financial Inc. is a leading international financial services organisation providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Tracing its roots back to 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of 31 March 2008, the Sun Life Financial group of companies had total assets under management of US$343billion.

Share Holding Pattern:

In Birla-Sun Life, the two companies are having shareholding pattern as follows: 74 %--> Aditya Birla Group 26 %--> Sun Life Financial Inc. The group has 3 businesses: 1. Mutual Funds 2. Wealth Management 3. Life

Birla Sun Life Insurance

VISION To be a world class provider of financial security to individuals and corporates and to be amongst the top three private sector life insurance companies in India

MISSION

To be the first preference of our customers by providing innovative, need based life insurance and retirement solutions to individuals as well as corporates. These solutions will be made available by well-trained professionals through a multi channel distribution network and superior technology.

Our endeavour will be to provide constant value addition to customers throughout their relationship with us, within the regulatory framework. We will provide career development opportunities to our employees and the highest possible returns to our shareholders.

VALUES Integrity: Honesty in every action. Commitment: Deliver on the promise. Passion: Energized action. Seamlessness: Boundary less in letter and credit. Speed: One step ahead alwa

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Birla Sun Life Insurance Birla Sun Life Insurance co ltd. is the Life-Insurance arm of Birla-Sun Life

Birla Sun Life Insurance in its 7 successful years of operations has contributed significantly to the growth and development of life insurance industry in India. It pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. It was the first player in the industry to sell its policies through the Bancassurance route and through the Internet. It was the first private sector player to introduce a Pure Term plan in the Indian market. This was supported by sales practices, which brought a degree of transparency that was entirely new to the market. The process of getting sales illustrations signed by customers, offering a free look period on all policies, which are now industry standards were introduced by BSLI. Being a customer centric company, BSLI has covered more than a million lives since inception and its customer base is spread across more than 1000 towns and cities in India. All this has assisted the company in cementing its place amongst the leaders in the industry in terms of new business premium income. The company has a capital base of more than Rs.672 crores. Many ONEs with Birla Sun Life Insurance: BSLI is a company that has a very unique contribution in the history of Insurance sector. The company not only has varying plans and funds, rather also is a pioneer in many aspects. These pioneering features of BSLI are as follows: 1. Free Look Period: BSLI offers its policyholders with a free look period of 15 days. Client gets freedom to have an in-depth look over all the terms and conditions regarding his/her life-insurance policy. If he finds policy not worth opting for, he can also return the policy, but at BSLI, co. people ensures this not to happen.
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Birla Sun Life Insurance

2. Bancassurance:

BSLI pioneered Bancassurance in India. Bancassurance means to

include Banks as one of the distribution channels with the company. BSLI is the first company, which realized that banks, with their huge customer base and strong customer loyalty, are a readymade platform to acquire new business on a more cost effective and sustainable basis. 3. Unit Linked Life Insurance Plans: BSLI was the first in India to introduce Unit Linked Plans. A ULIP is an auspicious coming together of security from life 4. insurance and earnings from investment. Which means, apart from securing the future they offer efficient returns. These plans provide the customer with a certain number of units, in the same way as a mutual-fund holder gets units. ULIPs offer market-linked returns to policyholders. 5. Sales Illustrations: BSLI is the first company to introduce Sales Illustrations in the Insurance Industry. Sales people of BSLI give demonstrations of fund 6. Performance on two points of projections i.e. on 6% and 10%. Now IRDA has also made it mandatory to have sales illustrations. BSLIs has launched Century SIP, a unique systematic investment plan offering an opportunity to create wealth with as little as Rs 1000 per month plus a life insurance cover of up to 100 times the monthly installment. This plan comes along with free term insurance for an individual up to 55 years of age. The life insurance cover comes at no extra cost to the investor. The cover is hassle free. The investor need not go thru any medial test to avail of the life cover. All an investor needs to do is

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enroll for CSIP & sign a Declaration of Good Health. In case of unfortunate demise of i nvestor the insurance claim will be directly paid to the nominee by the insurance company (Birla Sun Life Insurance Company).

Announcing the launch of Century SIP, Anil Kumar, CEO, and Birla Sun Life MF said, This offering touches all aspects of an investors financial planning needs. We wish to encourage the investment habit among investors by providing them life insurance cover. Insurance cover to the investor would continue even after the SIPs minimum maturity tenor of 3 years. Any individual between 18 to 46 years of age may invest in this plan. Investment in this plan may be made through Electronic clearing system (ECS), direct debits or post dated cheques. 7. Others: Some other ONEs with BSLI are: 1st to issue daily NAVs of funds for better transparency. 1st to have a distinct CRISIL benchmark. 1st to disclose portfolio on a monthly basis. Policyholders can view their policy details online; they can be accessed from BSLI website using your unique password. Out of every 100 claims intimated to BSLI 98.28 stands cleared. Also the average Turn Around Time (TAT) :

(i)

From the receipt of the last requirement till dispatch of cheque is 5 days and

(ii)

From intimation of claim till its decision & dispatch of cheque is 36 day
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Birla Sun Life Insurance

SWOT ANALYSIS
STRENGTH : Multi-channel distribution and one of the largest distribution networks in India. Implementing Six-Sigma process. Customer centric products and services. Superior investment and risk management framework 1 Million Policies sold within 3 and half years. Company has maximum number of MDRT as well as good number of HNI advisors. Training process of the company is very strong. Different plan for different peoples According to the change in surrounding environment like changes in customer requirement.

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WEAKNESS: COMPANY does not penetrate on the rural market at a time. There is no plan for the low income group. Fees for the advisor is high than the other company.

OPPORTUNITY: Insurance market is very big, where company can expand its horizon in insurance industry . Though good investment and insurance it is easy to top Indian customers. The huge insurance market (77%) is left so company has opportunit y to expand our products. To associate with the more number of HNI.

THREATS: OLD HABITS DIE HARD: Its still difficult task to win the confidence of public towards private company. The company is facing major threats from LIC -which is an onl y government company.

Plans for all income groups is not available which can create adverse effect later on the market share of the company.

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Birla Sun Life Insurance KEY PEOPLES OF ORGANISATION Management Team

MR. JAYANT DUA is the Managing Director and Chief Executive Officer at Birla Sun Life Insurance. He is a Chemical Engineer from IIT Delhi and an MBA. He also holds an Advanced Management Program (AMP) from Harvard Business School, USA. He joined Birla Sun Life Insurance in July 2010. Mr. Mayank Bathwal

(Chief Operating Officer)

Mr. Amitabh Verma

(CFO & Head of Institutional Sales) Mr. Sashi Krishnan

(Chief Marketing Officer) Mr. Arun Malkani

(Chief Investment Officer)

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Birla Sun Life Insurance BOARD OF DIRECTORS MR. DONALD A. STEWART retired from the position of Chief Executive Officer of Sun Life Financial on November 30, 2011

Mr. Kumar Mangalam Birla

Mr. Ajay Srinivasan

Mr. Jayant Dua

Mr. Bishwanath Puranmalka

Mr. Kevin Strain

Mr. Gian Gupta

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Birla Sun Life Insurance DETAILS OF PRODUCTS

Individual Life Protection Birla Sun Life Term Plan Premium Back Term Plan

Retirement

Flexi Secure Life Retirement Plan II

Children

Children's Dream Plan

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Saving Birla Sun Life Insurance Gold-Plus Supreme Life Dream Plan Classic Life Premier Simply Life Prime Life Premier Prime Life Life Companion Flexi Cash Flow Flexi Save Plus Flexi Life Line Single Premium Bond

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Rural

Bima Kavach Yojana

Riders Accidental Death and Dismemberment Rider Term Rider Critical Illness Rider Waiver of Premium Critical Illness Plus Rider Critical Illness - Woman Rider

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Birla Sun Life Insurance

Retirement

Our Retirement Plans allow you to meet your expenses and build a nest egg, which gives you the freedom to live life to the fullest even after retirement. The post retirement years can be the best years of your life. Time to do things you couldn't have done while you were working. A right financial planning makes your post retirement years truly golden . Our Sun Life secure Life II assures you just that.

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Birla Sun Life Insurance PRODUCTS

Insurance Plans Life is unpredictable. But in face of adversit y, our responsibilities towards our parents, children and loved ones need not be compromised. Insurance planning equips you to smooth out the uncertainties and adversities that life might send your way, so that the best that life has to offer, secure in the knowledge that your beloved ones are well provided for. BS LI complete range of in surance products offers a

1. Protection Plans

2. Savings Plans

3. Child Plans

4. Investment Plans

5. Retirement Plans

6. Group Plans

7. Rural Plans

8. Plans for NRIs

9. Keyman Plans

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Protection Plans

BSLI offers LifeGuard - a set of pure protection plans. Choose from amongst three different product structures to insure your life and provide total securit y to your famil y, at a very affordable cost.

Level Term Assurance with return of premium On death the entire sum assured will be paid.

On maturit y, all the premiums paid will be returned.

Level Term Assurance without return of premium

On death the entire sum assured will be paid.

No survival or maturit y benefits.

You can also enhance the above t wo policies by adding Accident & Disabilit y Benefit Rider and Waiver of Premium Rider (WOP) .

Level Term Assurance - Single premium:

On death the entire sum assured will be paid. No survival or maturit y benefits

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Birla Sun Life Insurance

Savings Plans BSLI offers a variety of policies that give you the benefits of protection and the opportunit y to save for important assets or events, like a home, a car or a wedding.

A regular premium unit -linked insurance plan with an assurance of Capital Guarantee with the added advantage of flexible liquidit y option. An ideal plan for long term planning with the benefit of liquidit y.

The key features of the plan are: Flexibilit y to choose a specific level of protection (Sum Assured), based on a multiple of the annual premium. You can also choose the term of the plan. At the end of the term, the higher of the value of units or the guaranteed value is paid. On death, Su m Assured along with the higher of value of units or the guaranteed value is payable. Facilit y to make withdrawals from the 6th policy year onwards till the

end of the policy term. Every year withdraw up to 10% of the value of units. Additional credits payable as a percentage of the initial annual premium are paid along with the death or maturit y benefit.

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Additional insurance for 10 years after the maturit y, for an amount of 50% of the Sum Assured. Flexibilit y to make additional investment with the help of the top-up facilit y. Flexibilit y to increase / decrease your annual premium amount Facilit y of Automatic Premium Payment - With this facilit y you can take a temporary break from premium payment. ** Total transparency with the premium allocations, and oth er charges declared upfront. The guaranteed value of the unit fund is the value of all invested premiums (premiums net of all charges) along with the declared bonus interests.

With Automatic Premium Payment facility, you can avail a temporary break from premium paym ent for a maximum of 1 year. This facilit y is available once if the premium paying term is less than 15 years and twice, if it is 15 years or more.

You can also enhance your policy by adding Accident & Disabilit y Benefit Rider, Waiver of Premium Rider and Critical Illness Rider.

A regular premium unit -linked insurance plan with an assurance of Capital Guarantee. An ideal plan for your long -term savings and protection requirement.

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The key features of the plan are : Flexibilit y to choose a specific level of protection ( Sum Assured ), based on a multiple of the annual premium. You can also choose the term of the plan. At the end of the term, the higher of the value of units or the guaranteed value* is paid. On death, Sum Assured along with the higher of value of units or the guaranteed value is payable Additional credits payable as a percentage of the initial annual premium are paid along with the death or maturit y benefit. Additional insurance for 10 years after the matur it y, for an amount of 50% of the Sum Assured. Flexibilit y to make additional investment with the help of the top-up facilit y. Flexibilit y to increase / decrease your annual premium amount Facilit y of Automatic Premium Payment - With this facilit y you can ta ke a temporary break from premium payment. Total transparency with the premium allocations, and other charges declared upfront.

The guaranteed value of the unit fund is the value of all invested premiums (premiums net of all charges) along with the declar ed bonus interests.

With Automatic Premium Payment facility, you can avail a temporary break from premium paym ent for a maximum of 1 year. This facilit y is available

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once if the premium paying term is less than 15 years and twice, if it is 15 years or more.

The capital guarantee is applicable only on the invested premium and the declared bonus interests.

You can also enhance your policy by adding Accident & Disabilit y Benefit Rider, Waiver of Premium Rider and Critical Illness Rider.

A unit-linked insurance plan with an assurance of Capital Guarantee which offers you the benefit of a limited premium payment term. An ideal plan for protection with wealth creation that offers the flexibilit y of a limited premium paying term. Flexibilit y to choose a premi um payment term of 5, 7 or 10 years for a maturit y term of 10, 15 or 20 years respectivel y. Flexibilit y to choose a specific level of protection (Sum Assured), based on a multiple of the annual premium. At the end of the term (maturit y), the higher of the value of units or the guaranteed value* is paid. On death, Sum Assured along with the higher of value of units or the guaranteed value is payable. Additional credits payable as a percentage of the initial annual premium are paid along with the death or mat urit y benefit.

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Facilit y to make withdrawals from the 6th policy year onwards till the end of the policy term. Every year withdraw up to 10% of the value of units Flexibilit y to make additional investment with the help of the top -up facilit y. Flexibilit y to increase / decrease your annual premium amount Total transparency with the premium allocations, and other charges declared upfront. The guaranteed value of the unit fund is the value of all invested premiums (premiums net of all charges) along with the d eclared bonus interests.

The capital guarantee is applicable only on the invested premium and the declared bonus interests.

You can also enhance your policy by adding Accident & Disabilit y Benefit Rider and Critical Illness Rider.

Presenting Premier Life The Preferred plan for the Preferred Customer. The key features of the plan are: Limited premium payment option: Choose from among a 3, 5, 7 or 10 year premium paying term. Choice of sum assured: Choose a sum assured, which is a minimum multiple of 1 and a maximum multiple of 25 times the annual contribution. Additional allocation of units on a periodic basis. Facilit y to top -up your investment any time you have surplus funds.
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Choose from among four funds, based on your investment objective and risk appetite. Choice to switch between investments options (4 free switches every polic y year).

Flexibility to decrease your sum assured. Add-on riders to protect you against any eventualit y. Loans against the policy.

You can also enhance your policy by adding Critical Illness Rider, Accident & Disability Benefit Rider.

Presenting Life Time unit linked plans that meets your changing needs over a lifetime. These solutions have been developed to meet your savings, protection and investment needs at every stage in life. Protection Choose a specified level of protection (available onl y with LifeTime).
Two levels of Sum Assured to choose from (available onl y with LifeTime II).

Flexibilit y to increase or decrease your sum assured .

Add-on riders to protect you a gainst any eventualit y.

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Savings
Flexibilit y to increase or decrease your contribution.

Facilit y of Premium Holiday, wherein the policy continues even if there is a temporary break in the payment of annual contribution (available onl y with Life Time). Facilit y of Automatic Cover Continuance, wherein the policy continues even if there is a temporary break in the payment of annual contribution Facilit y to top -up your investment any time you have surplus funds. Additional allocation of units on a periodic bas is. Loans against the policy.

Investment:
Choose from among four funds, based on your investment objective and risk

appetite. Choice to switch between investments options (4 free switches every polic y year).

You can also enhance your policy by adding Critical Illness Rider, Major Surgical Assistance Rider, Accident & Disabilit y Benefit Rider, Accident Benefit Rider (available onl y with Life Time) and Waiver of Premium Rider

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An insurance plan that gives added protection, savings and multiple options, all in one! The flexibilit y to choose your premium contribution. The flexibilit y to choose amongst three levels of cover (in the form of sum assured) for the same amount of total annual contribution. The flexibilit y of shifting between the three l evels of cover, as you require. The flexibilit y of receiving your maturit y proceeds as a lump sum or in equal annual installments over 3 or 5 years.

You can also enhance your policy by adding Variet y of Riders

An insurance plan that gives you added protection, savings, multiple options, plus the power of liquidit y. The flexibilit y to choose your premium contribution. The flexibilit y to choose amongst three levels of cover (in the form of sum assured) for the same amount of total annual contribution. The flexibilit y of shifting between the three levels of cover, as you require. The flexibilit y of receiving your maturit y proceeds as a lump sum or in equal annual installments over 3 or 5 years.

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The flexibilit y of withdrawing up to 10% of the accumulated value of your policy, after the first 5 policy years.

You can also enhance your policy by adding Variet y of Riders

An ideal plan for those who want to accumulate funds on a regular basis while enjoying insurance protection. Guaranteed Benefits: Guaranteed additions @ 3.5% of the Sum Assured, compounded annually for the first 4 years of the policy. Extended Life Cover: An extended cover for 5 years after the maturit y of the policy, for 50% of the sum assured, at no extra cost. Maturity Benefit: At the end of the term, the policyholder receives the full sum assured, the guaranteed additions and the vested bonuses. Death Benefit: The beneficiary receives the sum assured, the guaranteed additions and the vested bonuses incase the life assured were to meet with an unfortunate event. In case the life assured is aged 7 years or less, the basic premium paid will be returned.

You can also enh ance your policy by adding Critical Illness Rider , Major Surgical Assistance Rider , Accident & Disabilit y Benefit Rider , Waiver of Premium Rider (WOP)

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Birla Sun Life Insurance

Child Plans

As a responsible parent, you will always strive to ensure a hassle-free, successful life for your child. However, life is full of Uncertainties and even the best- laid plans can go wrong. Heres how you can give your child a 100% safe and assured tomorrow, whatever the uncertainties. Smart Kid is especiall y designed to provide flexibilit y and safeguard your childs future education and lifest yle, taking all possibilities into account. Choose from amongst a basket of 4 plans:

Smart Kid regular premium Smart Kid unit-linked regular premium Smart Kid unit-linked regular premium II Smart Kid unit-linked single premium II

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Birla Sun Life Insurance

All these plans offer you: Financial Benefits: Regular payments at critical stages in your childs life, like Board examinations, Graduation and Post -graduation.
Total peace of mind, even if you are not around Sum Assured is paid immediately: Ensures that your loved ones sta y

financiall y secure, even in your absence. All future premiums are waived: Ensuring that your famil y is not financiall y burdened in your absence. Policy benefits continue: The educational benefits of the policy continue, ensuring that your child can realize his or her dreams without any hassles.

Development Allowance: Smart Kid guarantees regular income to secure your childs educational career and also ensures his or her all -round development, for a nominal additional amount. The Income Benefit Rider takes care of this through an annual payment of 10% of the sum assured, to your child, till the maturit y of the policy, in the unfortunate event of the death of the parent.

All SmartKid plans can be enhanced with the Accident & Disability Benefit Rider and Income Benefit Rider . You can also an Accident Benefit Rider to a SmartKid Regular Premium policy, and a Waiver of Premium Rider (WOP) t o SmartKid unit-linked regular pre mium policy.

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Birla Sun Life Insurance

Investment Plans

Life Link II is a unique plan that combines the securit y of a life insurance policy with the opportunit y of enjoying high returns on your investments, without the market risks compromising on the protection of your famil y!

Death Benefit: The Sum Assured under the product has 2 options, either 500% of the initial premium or 105% of the initial premium. In the event of an unfortunate death, the beneficiary will receive higher of the value of units or the initial death benefit, less any withdrawals.

Withdrawal Benefit: One can make partial withdrawals from the accumulated value of the policy after completion of one policy year.

Flexibility: Choose from four fund options, based on your investment objective and risk appetite. If at a later stage your financial priorities change, you can switch between the various fund options, absolutel y free, 4 times a year.

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Birla Sun Life Insurance

Retirement Plans

Life Expectancy has been rising rapidl y and today you can expect to live longer than yo ur earlier generations. For you, this increase will mean a longer retirement life, stretching into a couple of decades. BSLI Retirement Solutions that combine the best of insurance and investment. These solutions are developed to ensure your peace of mind for the years to come.

1. 2. 3. 4. 5.

Why plan for retirement? How much should I set aside for retirement? The impact of inflation on your retirement savings Why plan earl y? About Annuities

Why plan for retirement?

For too many people, the joy of retirement after years of hard work is eclipsed by the financial uncertainties that it brings. Despite all the planning and saving, you can never sure whether your mo ney will last a lifetime. Retirement planning offers a way to ensure a more enjoyable, stress free tomorrow. A prudent plan will ensure that increasing life expectancy, higher inflation and increasing taxes do not eat away into your hard earned savings.

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Birla Sun Life Insurance

How much must I set aside for retirement?

To ensure a comfortable retired life, you would be wise to invest money into additional avenues like pension plans. How much you need to invest can be answered by answering some questions such as:

1. How long do you have to save that amount before retirement? 2. Where can you invest your retirement money? 3. How much risk are you willing to take on your investments?

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Birla Sun Life Insurance

Group Solutions In an era of competitive parit y, the onl y asset that makes a decisive difference between corporate success and failure is the qualit y of human capital. Employee benefits have proven to be an excellent tool to optimize the retention of talent and improve an organizations bottom - line. The qualit y of an organizations employee benefits estab lishes and maintains a company's image as a caring employer. Optimum care of employees is a long -term investment that results in a sustained competitive advantage for an organization in the times to come.

BSLI Group Solutions Advantage:

An

integrated

basket

of

employee

benefits

solutions

that

offer

incomparable flexible benefits. Sound investment management that focuses on safet y, stabilit y and profitabilit y of the portfolio. Personalized financial planning for your employee that takes care of his/her changing financial needs at every stage of life. Qualit y service initiatives and transparency across all operations,

promising superlative operational efficiency.

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Birla Sun Life Insurance

Group Term Assurance : Helps provide affordable cover to members of a group.

Group Gratuity Plan : Helps employers fund their statutory gratuit y obligation in a flexible and hassle -free manner.

Group Superannuation Plan : A flexible scheme (defined benefit and defined contribution) to provide a retirement kitt y for each member of the group.

Group Term Assurance:

BSLI flexible group term s olution helps provide affordable cover to members of a group. The cover could be uniform or based on designation/rank or a multiple of salary, and can be extended to all employees between the ages of 18 and 65 years. The benefit under the policy is paid on the event of the members death to the beneficiary nominated by the member. It is a one -year renewable policy where one master policy covers all proposed employees comprising the group, with a minimum group size of 25 persons. New members can join the group and outgoing members can leave the group at any point during the policy term.

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Birla Sun Life Insurance

Highlights include: Greater convenience for the employees with relaxed underwriting and medical requirements. "Free Cover Limits" with simplified underwriting depending upon the number of employees in the group and the level of cover chosen. Guaranteed benefit: On death during the term of the contract (while in service), the sum assured will be paid to the beneficiary of the employee. Choice of additional coverage in form an Accident and Disabilit y Benefit Rider and Critical Illness Cover Premium is viewed as a business expense in the year of payment.

Group Gratuity Plan:

BSLI group gratuity plan helps employers fund their gratuity ob ligation in a scientific manner. Employers can avail of the tax benefits as applicable to approved gratuit y funds. The plan can also be customized to structure schemes that can provide benefits beyond the statutory obligations.

Highlights include: Wider choice of investments with Market Linked Plans - to meet the diverse financial goals. We offer 4 investment options (short -term debt, debt and balanced and capital guarantee plan) where investments will be made in accordance with the fund objectives.

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Birla Sun Life Insurance

Transparency through Dail y disclosure of Unit Value and regular disclosure of the portfolio of each of the investment option Flexibility through switching and contribution redirection option to enable reshuffling of portfolio Bundled Life Cover greater value to the employee by packaging life insurance cover with the gratuit y, with minimal amount of underwriting. Actuarial services to provide a scientific estimation of the gratuit y liabilit y. Low explicit charge structure with the conditions for exit specified upfront. Enhanced service levels through faster claim settlement, easier access to information and regular statements.
Complete end to end solution in the legal and regulatory approval

process for scheme set up or transfer

Employee Benefits:
The contribution made by the employer is not included in the value of

taxable perquisites in the hands of the employee. Gratuit y received up to Rs 350000 is exempt from Income tax under Sec 10(10)

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Birla Sun Life Insurance

Employer Benefits:
Annual contribution up to 8.33% of salary bill in a financial year is

allowed a deduction for the purpose of computation of profits and gains of business. Contribution towards past service liability is allowed as deduction as per the Income Tax rules.

Group Superannuation Plan:

BSLI

Superannuation funds)

Scheme

(for

both

Defined to

Benefit both

and

Defined and

Contribution

offers

substantial

benefits

employers

employees. The employer and employee can avail of tax benefits applicable to an approved superannuation trust. The scheme will provide for a retirement fund for each participating employee. An employee would be able to choose from various annuit y options or opt for partial commutation of corpus at retirement.

Highlights include: Wider choice of investments with Market Linked Plans - to meet the diverse financial goals. We offer 5 investment options (short-term debt, debt, balanced, growth and capital guarantee plan) where investments will be

made in accordance with the fund objectives. Control Each member/employer can exercise g reater control over

investments by choosing one or more of the investment options. Multiple Annuity Options - 5 annuit y options and open market option
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Birla Sun Life Insurance

Transparency - Transparency through Dail y disclosure of Unit Value and regular disclosure of the portfolio of each of the investment option Flexibility - Flexibility through switching and contribution redirection option to enable reshuffling of portfolio Low explicit charge structure with conditions for exit specified upfront. Enhanced service levels through faster claim settlement, easier access to information and regular statements.
Complete end to end solution in the legal and regulatory approval process

for scheme set up or transfer

Rural Plans

BSLI Rural Products are designed to meet the needs of the rural consumers. These products offer the following features:

1. Low and Affordable Premiums

2. Life Cover

3. Savings Option

4. Hassle free procedure

BSLI offers 2 speciall y designed rural plans. BSLI Endowment Plan BSLI - Regular Premium
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a) b)

Birla Sun Life Insurance

BSLI Endowment Plan:

BSLI offers the following features: Life Cover and Savings Regular Premiums
Age at entry

18 - 45 Yrs Half Yearl y / Yearl y 5,10,15 Yrs Rs.5,000 -20,000 Rs. 507 - 553 ( SA: Rs.10,000) Sum Assured

Premium Mode
Term

Sum Assured Premium / Year Maturit y/Death benefit

BSLI - Regular Premi um:

BSLI is a regular premium policy with the following features:

Individual policy Onl y Life cover Term - 3 & 5 Yrs Age independent premium Age at entry Sum Assured Premium / Year Maturit y/Death benefit Death Benefit 18 - 45 Yrs Single Rs 50 200 Rs.5,000 - 20,000 Sum Assured
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Birla Sun Life Insurance

Plans for NRIs

NRI Plans: Being away from India doesn't mean you have t o compromise the safet y and securit y of your loved ones. In fact, your savings from your time overseas can be easil y canalized to meet your famil y's needs - now and in the future. So, whether its your dream to retire in your hometown; to secure funds for y our children's education; or to build assets, BSLI has a range of solutions that can be customized to meet your needs

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Birla Sun Life Insurance

RECENT

PRODUCTS

LAUNCHED

BY

BIRLA

SUNLIFE

INSURANCE Birla Sun Life Insurance launches New Whole Life Plan BSLI Wealth Secure
The plan allows customers to secure their familys future for an entire lifetime and maximize wealth with unique investment strategies Birla Sun Life Insurance Company, a joint venture between the Aditya Birla Group, Indias leading transnational conglomerate and Sun Life Financial Inc, one of the leading international financial services organizations from Canada, has announced the launch of its new whole life plan, BSLI Wealth Secure. The plan enables customers to meet their financial goals according to their changing life stages with equity market participation, and also provides them financial security throughout their entire lives. Niall OHare, Chief Actuarial Officer, Birla Sun Life Insurance, says, With three investment options to choose from, the plan can meet the demands of the diverse investors. BSLI Wealth Secure plan combines long-term savings and whole life cover in such a way that it allows customers to focus on their goals and maximize savings for their future. He adds, With a built in savings component, BSLI Wealth Secure plan can help accumulate sizable returns with every premium paid, owing to its long tenure and equity market participation. The plan enables a customer to fulfill his familys dreams with prudent investments and also financially secure their future with a whole Life cover. Many customers tend to stay away from the equity market opportunity due to lack of knowledge, thereby compromising on their longterm wealth creation goals. The company is positive that the product will induce many more
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Birla Sun Life Insurance

customers to achieve a balanced growth on their investments while they benefit from advanced investment strategies and also a whole life cover. The plan offers customers a choice to select the premium amount. Based on his/her current age and the premium amount that the customer opts for, the company will determine the life cover applicable on the policy. This is also the minimum Basic Sum Assured.

Key features of BSLI Wealth Secure plan include Insurance cover for whole life. Option to select from three investment strategies - Systematic Transfer Option, Life Cycle Option and Self-Managed Option. Systematic Transfer Option mitigates the risk arising from the volatility in the equity market by averaging out a customers cost of purchase. This option allows customers to enter the equity market not at once, but slowly at different times and at different levels, thus reducing the overall risk to their portfolio. Life Cycle Option is meant for individuals who want their investments to change

according to their changing age and risk profile. Self-Managed Option is meant for individuals who seek complete freedom and flexibility to manage their investments by allocating the premiums across investment funds of their choice in varying proportions. Self- managed Option gives customers access to BSLIs well established suite of 13 investment funds with complete control on how to invest premiums, and the independence to switch from one investment fund to another. Option of increasing life cover by up to 300% of the minimum Basic Sum Assured.
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Birla Sun Life Insurance

Advantage of enhanced financial security with BSLI Riders. Flexibility to make partial withdrawals to meet any financial emergencies after completion of five policy years. Additional boost to Fund Value in the form of Guaranteed Additions. Payment of Sum Assured or fund value to the nominee, whichever is higher, in the unfortunate event of death of the Life Assured during the term of the policy.
Tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961

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Birla Sun Life Insurance

Birla Sun Life Insurance presents BSLI Foresight Plan ~ Maximizes wealth~ ~ Secures familys future ~ ~ Manages the portfolio during market highs and lows ~

Birla Sun Life Insurance Company Ltd., a subsidiary of Aditya Birla Nuvo Ltd.,announced the launch of BSLI Foresight Plan, a cutting-edge solution that provides customers the upside of market returns while completely shielding their investments from downside risks. This mediumterm unit linked savings plan is apt for a volatile market providing the perfect blend of guarantee, flexibility and liquidity options. Commenting on the launch, Fabien Jeudy, Chief Actuarial Officer, Birla Sun Life Insurance said Equity markets have a huge potential towards meeting customers long-term wealth creation needs. However, many customers tend to stay away from this attractive opportunity due to the lack of knowledge on timing the market and the resultant fear of loosing their money. This behavior brings forth the need for a product offering that can eliminate this fear and give customers the confidence of not just optimizing investments when the markets are low but also locking the gains, when the markets are at a high. He further adds Keeping this unfelt customer need in mind, we have designed BSLI Foresight Plan, an innovative investment avenue that addresses this requirement. We are positive that this product will induce many more customers to take the first step towards participating in the equity markets, help them protect their investment downside and lock their gains.

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Birla Sun Life Insurance

BSLI Foresight Plan can be customized for different investors. It offers the following flexibility: Choice of Basic Premium: Entire premium to be paid once/at the beginning of every policy year Choice of Basic Sum Assured: Choice of Investment Option : Self -Managed Option or Guaranteed Option Choice of Premium Pay Term : Single-Pay/ 5-Pay Other key highlights of BSLI Foresight Plan: Provides upside of market related returns while shielding investments from downside risks Full freedom to switch from one fund to another From amongst 10 investment funds under Self Managed Option Option to increase protection by choosing higher sum assured multiple Option to pay all 5 years premium in advance Tax benefits under Sections 80C and 10(10D) of the Income Tax Act,1961

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Birla Sun Life Insurance

Birla Sun Life Insurance launches Platinum Advantage Plan ~A plan that provides highest daily NAV protection along with flexibility of managing investments~
Birla Sun Life Insurance Company Ltd., a subsidiary of Aditya Birla Nuvo Ltd., has introduced BSLI Platinum Advantage Plan, a non participating ULIP that will help customers build wealth through participation in the equity markets while protecting their returns. BSLI Platinum Advantage Plan is a sequel to the former BSLI Platinum Premier plan and is packed with a bevy of additional benefits. One of the pioneering advantages of the BSLI Platinum series is that it safeguards against the potential downsides of the equity market through a guarantee of highest daily NAV over 7 years. The new plan also offers choices like Enhanced Sum Assured option and Riders that allow customers to increase their financial security at a nominal additional cost. Commenting on the launch, Fabien Jeudy, Chief Actuarial Officer, Birla Sun Life Insurance said Equity markets have a huge potential towards meeting customers long-term wealth creation needs. Through BSLI Platinum Advantage plan we offer customers protection along with an excellent investment proposition that not only helps them participate in the equity market but also safeguard their investments through a highest daily NAV guarantee. He further added Given the overwhelming response to BSLI Platinum Premier Plan and the benchmark that it created for the industry, we have now launched BSLI Platinum Advantage Plan with the objective of meeting consumers evolving needs efficiently through its enhanced product features.

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Birla Sun Life Insurance

This plan gives customers the advantage of 2 Investment Options of their choice Guaranteed Option and Self-Managed Option. The Guaranteed Option allows customers to safeguard their investments from any downsides in the capital markets while the Self-Managed Option gives customers complete access to invest premiums in a well established suite of 10 Investment Funds, ranging from 100% debt to 100% equity. Customers also enjoy full freedom to switch from one Investment Fund to another, as per their changing requirements. In addition to this, customers have the flexibility to invest additional amounts in the form of top-up premiums, anytime during the policy term, except in the five years prior to maturity date. Key highlights of the new plan are: 1. Investment flexibility 2 Investment Options of their choice Guaranteed Option and SelfManaged Option 2. Flexibility to choose the premium amount (payable annually for 5 years) 3. Option of Enhanced Sum Assured to increase financial security 4. Benefit of additional 5 riders 5. Tax benefits under section 80C and section 10(10D) of the Income Tax Act, 1961

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Birla Sun Life Insurance Birla Sun Life Insurance Launches BSLI Vision Life Income

Birla Sun Life Insurance has announced the launch of its first participating plan, BSLI Vision LifeIncome. The traditional whole -life plan offers an ideal combination of regular guaranteed payouts, long -term savings and life insurance benefit. By way of its guaranteed regular income, bonus a ccumulation, and life insurance benefit, this product offers a three - way solution for customers financial needs. Key features of BSLI Vision LifeIncome plan include: Guaranteed regular income for life post -premium paying term; Complete securit y of custome r's loved ones through life insurance cover; Secured growth of customer's investment through bonus accumulation; Premium discount on high sum assured; Premium rebate on annual and semi -annual mode of payment and ECS method of payment; Option to customize t he plan by adding five riders; Convenience of reduced paid up benefit option; Option to avail loan against the policy; and Tax benefits under Sections 80C, 80D and 10(10D) of the Income Tax Act, 1961.

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Birla Sun Life Insurance Birla Sun Life Insurance Company Limited Launches BSLI Empower Pension

Birla Sun Life Insurance Company Limited has announced the launch of its non participating ULIP pension plan, BSLI Empower Pension. The simple, eas y to understand plan helps customers accumulate their premiums and the investment returns into a corpus for their retirement needs. This period of retirement corpus generation is known as the accumulation phase. Once the customers decide to vest their policy, t hey enter the income phase, where their corpus will be used to purchase annuit y, which ensures a stream of regular income payable for the rest of their lives. Key features of BSLI Empower Pension Plan: Guaranteed additions from the 6th policy anniversary onwards to boost the customers retirement corpus. Smart option that allows BSLI to manage and administer customers investment portfolio on their behalf, based on their chosen vesting date and risk profile to meet their retirement objectives. Guarantee a t exits like vesting and death. On vesting date, the customer will receive the greater of Guaranteed Vesting Benefit or the Fund Value. Death Benefit in the unfortunate event of death of the policyholder, the nominee is paid the greater of the Guaranteed Death Benefit or Fund Value as on date of intimation of death. Tax benefits under Section 80CCC and Section 10 (10A) of the Income Tax Act, 1961.

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Birla Sun Life Insurance

Sales Procedure of Insurance in BSLI:

BSLI ensures that its policyholders get the best out of the policy offered to them by their Advisors. For this, BSLI follows a set procedure of selling Insurance to the clients. The sales procedure can be diagrammatically presented as follows:

SUSPECTING

PROSPECTING

APPOINTMENT

FIRST SALES CALL

FOLLOW UPS

SALES CLOSED

OFFICE WORK

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Birla Sun Life Insurance

This procedure can be stepped down as follows:

1. Pitching the customer: The first and foremost thing is that, client should be ready to purchase the Insurance plan. Insurance is not a very preferable product yet in India. And, thus, co. has to be very vigilant. Advisors, at BSLI, maintain relationships and make the most of their Goodwill. Insurance is a Relationship oriented business. Keeping this in mind BSLI also initiated Bancassurance, where Banks image of being loyal to the customers, plays a major role in pitching the customer to buy Insurance. BSLI uses following routes for distributing their Product to general public: a. Direct Personal Contacts (through Advisors) b. Bancassurance (through Banks) c. Personal Relations (through co. employees) d. Existing Policyholders.

2. Sales Illustration: BSLI is the first company to give demonstration of the fund performance i.e. how a certain policy will perform or will give returns. BSLI Advisors give sales illustration. Fund performance is shown on 6% and 10% projections. If client find these projected returns suitable to his/her risk profile, he go for purchasing the policy.

3. Proposal Form: Now as client is ready to get insured, advisor gives him the proposal form and asks for all the documents required. Proposal form is a 4 page document that contains all the necessary information related to the Insured and the Owner of the policy. Documents required along with the proposal form are: Date-Of-Birth Proof Address & ID Proof Income Certificate
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Birla Sun Life Insurance

Medical Certificates (only if Insurer is a senior citizen)

4. After Sales Service: Now after the Insurance is sold, follow-ups are required. Advisor needs to maintain good relations with the policyholder. Insurance co. can Generate further business, only if, existing policyholders are satisfied with the services being provided by the advisor of the co. Thus, BSLI keeps this in mind and Business Development Executives continuously track the needs of the policyholders. BSLI provides the policyholders with monthly updates of the fund performance and also discloses the asset portfolio of the fund. This assists the policyholders to manage their policy according to their risk profile. They can, thus, change their fund allocation as well as the asset allocation in any fund, chosen by them.

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Birla Sun Life Insurance

CONCLUSION
Insurance sector today playing a major role in everyones life lot more than ever before life currently there is a comprehensive range of products covering each type of policy available in the market. Most insurance plans block money for certain period of time; a BSLI plan gives the double benefit of life insurance along with easy liquidity through lump sum cash. BSLI also gives various Riders, which provides extra benefits to the customers. Birla Sun Life Insurance (BSLI), one of the largest private life insurers, is gearing itself to take advantage of the vast rural opportunity that has opened up as a result of the revised definition of rural areas by the IRDA. Over the last four years, BSLI has painstakingly built its rural infrastructure to create a cost-effective distribution network across the country. The market potential for private insurance companies is found to be greater in the long run as most of the Indians are of the opinion that, private insurance companies would be able to perform well in the future. The private and foreign insurance companies have to take immediate steps in appointing more number of agents and/or advisors in addition to the employees as it has been found out that agents are the best channel to reach the general public regarding selling of insurance products. The private and foreign insurance companies have to concentrate on the factors like 'Prevention of Loss', 'Assured Returns' and 'Long term Investment'. They can also focus on an insurance amount of Rs. 1 2 lakhs with 'money back policies'. Hence, the market has potential. The private and foreign insurance companies that are taking immediate steps can tap it easily & rapidly.

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Birla Sun Life Insurance RECOMMENDATIONS

1) Even though most of the policy holders are satisfied with policies, plans they have but some new attractive insurance plans should be introduce to bind them not to switch over to other companies insurance plans. 2) The Company should find out the no. of people who are not having any of the insurance plans through an intensive market research and motivate them to get insured. 3) Leveraging technology to service customers quickly, efficiently and conveniently. 4) Developing and implementing superior risk management and investment strategies to offer sustainable and stable returns to our policyholders. 5) Company should target each and every class of the society . 6) Company should provide full information to the customers before targeting so they can take interest

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Birla Sun Life Insurance BIBLIOGRAPHY

http://www.birlasunlife.com/
Company brochure

http://insurance.birlasunlife.com Birlasunlife New Advisor Book

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