FINAL PROJECT REPORT

On
MARKET STRATEGIES ADOPTED FOR SALES PROMOTION
At

Bajaj Allianz Life Insuran e

Su!"itte# t$ M%D &ni'ersit( R$)ta* in +artial fulfill"ent $f t)e re,uire"ents f$r t)e a-ar# $f #e.ree $f Master $f Business A#"inistrati$n

/0102/01/
Su!"itte# !(3
PARVEEN KUMAR ROLL NO. 110/MBA/10 M.B.A. 4th SEMESTER

C%B%S%GRO&P OF INSTIT&TION4J5AJJAR
MA5ARS5I DA6ANAND &NI7ERSIT64 RO5TAK

DECLARATION
I, Par'een Ku"ar , Roll No. 110/MBA/101 class MBA 8t) SEM of C%B%S%GRO&P OF INSTIT&TION 4 J5AJJAR , h ! "# $ cla! that th St%$# nt&tl $ 'Ma!( t St!at )& s a$o*t $ fo! sal s P!o+ot&on, &s an o!&)&nal -o!( an$ sa+ has not " n s%"+&tt $ to an# oth ! &nst&t%t&on fo! th a-a!$ of an# oth ! $ )! . Th &nt !&+ ! *o!t -as *! s nt $ to th s%* !.&so! on //////////////// an$ th *! 0s%"+&ss&on -as +a$ on ///////////////. Th f as&"l s%)) st&ons as a**!o. $ "# 1ac%lt# ha. " n $%l# &nco!*o!at $ &n cons%ltat&on -&th th s%* !.&so!.

2o%nt !s&)n $

S&)nat%! of s%* !.&so!

S&)nat%! of th 2an$&$at

1o!-a!$ $ "#

3&! cto!/P!&nc&*al of th &nst&t%t

ACKNO9LEDGEMENT
Acknowledgements are a bit like acceptance speeches; Predictable but from the heart so here is some predictable prose direct from the heart. A s%cc ssf%l St%$# can n . ! " *! *a! $ "# th s&n)l -ho+ St%$# &s ass&)n $, "%t &t also $ +an$ th ffo!ts of th * !son to h l* an$ )%a!$&ansh&* of so+

con. !sant * !son -ho h l* $ th %n$ !s&)n $ act&. l# o! *ass&. l# &n th co+*l t&on of s%cc ssf%l St%$#. 2%!&os&t# l a$s to ! s a!ch, h%+ans a! c%!&o%s "# th nat%! . To sat&sf# h&s th&!st fo! (no-l $) , h )o s on n4%&!&n) +o! 5 coo* !at&on of oth ! &n$&.&$%als, &t &s not *oss&"l to ! ach to an# concl%s&on I -o%l$ l&( to 6t n$ o%! s&nc ! )!at&t%$ to-a!$ Mrs%P&S5PA SANG9AN %, 7 a$ of 3 *a!t+ nt, Mana) + nt St%$& s. I also 6*! ss +# h a!tf lt )!at&t%$ to Mr%SID5RAT5 TAL9AR 4 Asst. P!of sso! &n 3 *tt. of +ana) + nt st%$& s, %n$ ! -hos )%&$anc I %n$ !too( th&s St%$#, fo! 6t n$&n) th a$.&c an$ $&! ct&on that &s ! 4%&! $ to ca!!# on a st%$# of th&s St%$#, an$ fo! h l*&n) + -&th th &nt!&cat $ ta&l of th . !# st * of th -a#.

It &s -o!thl ss &f I $o not *a# +# s&nc ! than(s to all fac%lt# + +" !s fo! th &! *os&t&. co0o* !at&on to co+*l t +# St%$# &n a s&)n&f&canc +ann !. Th&s -o!( &s th ! s%lt of th $&! ct an$ &n$&! ct co0 o* !at&on of th .a!&o%s * !sons to -ho+ - -&sh to 6*! ss o%! a**! c&at&on an$ )!at&t%$ . An$ lastl# I -o%l$ l&( to than(s to th all +# f!& n$s, +# s n&o!s, +# *a! nts an$ all th * !sons -ho ha. h l* $ + &n co+*l t&n) +# St%$# ! *o!t.

PAR7EEN K&MAR

TABLE OF CONTENTS 1% Intr$#u ti$n /% C$"+an( Pr$file :% Si.nifi an e $f t)e Stu#( 8% Re'ie- Of Literature ;% O!je ti'es $f t)e Stu#( <% Resear ) Met)$#$l$.( =% Data Anal(sis > Inter+retati$n ?% Fin#in.s @% Li"itati$ns 10%Re $""en#ati$ns 11%C$n lusi$ns BIBLIOGRAP56 ANNEA&RE

INTROD&CTION
A +a!( t&n) st!at )# &s a *!oc ss that can allo- an o!)an&8at&on to conc nt!at &ts 9al-a#s l&+&t $: ! so%!c s on th )! at st o**o!t%n&t& s to &nc! as sal s an$ ach& . a s%sta&na"l co+* t&t&. a$.anta) . Ma!( t&n) st!at )# as a ( # *a!t of th ) n !al co!*o!at st!at )# +a!( t&n) st!at )# &s +ost ff ct&. -h n &t &s an &nt )!al co+*on nt of co!*o!at st!at )#, $ f&n&n) hoth o!)an&8at&on -&ll n)a) c%sto+ !s, *!os* cts an$ co+* t&to!s &n th +a!( t a! na fo! s%cc ss. It &s *a!t&all# $ !&. $ f!o+ "!oa$ ! co!*o!at st!at )& s, co!*o!at +&ss&ons, an$ co!*o!at )oals. Th # sho%l$ flo- f!o+ th f&!+;s +&ss&on stat + nt. Th # a! also &nfl% nc $ "# a !an) of +&c!o n.&!on+ ntal facto!s. Ma!( t&n) st!at )# an$ s cta!&an tact&cs an$ act&ons A +a!( t&n) st!at )# also s !. s as th fo%n$at&on of a +a!( t&n) *lan. A +a!( t&n) *lan conta&ns a s t of s* c&f&c act&ons ! 4%&! $ to s%cc ssf%ll# &+*l + nt a +a!( t&n) st!at )#. 1o! 6a+*l < =Us a lo- cost *!o$%ct to att!act cons%+ !s. Onc o%! o!)an&8at&on, .&a o%! lo- cost *!o$%ct, has sta"l&sh $ a ! lat&onsh&* -&th cons%+ !s, o%! o!)an&8at&on -&ll s ll a$$&t&onal, h&)h !0+a!)&n *!o$%cts an$ s !.&c s that &nt !act&on -&th th lo-0cost *!o$%ct o! s !.&c .= A st!at )# cons&sts of - ll tho%)ht o%t s !& s of tact&cs. >h&l &t &s *oss&"l to -!&t a tact&cal +a!( t&n) *lan -&tho%t a so%n$, - ll0cons&$ ! $ st!at )#, &t &s not ! co++ n$ $. >&tho%t a so%n$ +a!( t&n) st!at )#, a +a!( t&n) *lan has no fo%n$at&on. Ma!( t&n) st!at )& s s !. as th f%n$a+ ntal %n$ !*&nn&n) of +a!( t&n) *lans $ s&)n $ to f&ll +a!( t n $s an$ ! ach +a!( t&n) o"? ct&. s@AB. It &s &+*o!tant that th s o"? ct&. s ha. + as%!a"l ! s%lts. A )oo$ +a!( t&n) st!at )# sho%l$ &nt )!at an o!)an&8at&on;s +a!( t&n) )oals, *ol&c& s, an$ act&on s 4% nc s 9tact&cs: &nto a coh s&. -hol . Man# co+*an& s casca$ a st!at )# th!o%)ho%t an o!)an&8at&on, "# c! at&n) st!at )# tact&cs that th n " co+ st!at )# )oals fo! th n 6t l . l o! )!o%*. Each )!o%* &s 6* ct $ to ta( that st!at )# )oal an$ $ . lo* a s t of tact&cs to ach& . that )oal. Th&s &s -h# &t &s &+*o!tant to +a( + as%!a"l . ach st!at )# )oal nhanc th cons%+ !;s

Ma!( t&n) st!at )& s a! $#na+&c an$ &nt !act&. . Th # a! *a!t&all# *lann $ an$ *a!t&all# %n*lann $. S st!at )# $#na+&cs. T(+es $f "ar*etin. strate.ies E. !# +a!( t&n) st!at )# &s %n&4% , "%t &f - a"st!act f!o+ th &n$&.&$%al&8&n) $ ta&ls, ach can " ! $%c $ &nto a ) n !&c +a!( t&n) st!at )#. Th ! a! a n%+" ! of -a#s of cat )o!&8&n) th s ) n !&c st!at )& s. A "!& f $ sc!&*t&on of th +ost co++on cat )o!&8&n) sch + s &s *! s nt $ " lo-< St!at )& s "as $ on +a!( t $o+&nanc 0 In th&s sch + , f&!+s a! class&f& $ "as $ on th &! +a!( t sha! o! $o+&nanc of an &n$%st!#. T#*&call# th ! a! th! $o+&nanc st!at )& s< L a$ ! 2hall n) ! 1ollo- ! t#* s of +a!( t

Po!t ! ) n !&c st!at )& s 0 st!at )# on th $&+ ns&ons of st!at )&c sco* an$ st!at )&c st! n)th. St!at )&c sco* ! f !s to th +a!( t * n t!at&on -h&l st!at )&c st! n)th ! f !s to th f&!+,s s%sta&na"l co+* t&t&. a$.anta) . 2ost l a$ !sh&* P!o$%ct $&ff ! nt&at&on Ma!( t s )+ ntat&on

Inno.at&on st!at )& s 0 Th&s $ als -&th th f&!+;s !at of th n - *!o$%ct $ . lo*+ nt an$ "%s&n ss +o$ l &nno.at&on. It as(s -h th ! th co+*an# &s on th c%tt&n) $) of t chnolo)# an$ "%s&n ss &nno.at&on. Th ! a! th! P&on !s 2los follo- !s Lat follo- !s t#* s<

C!o-th st!at )& s 0 In th&s sch + - as( th 4% st&on, D7o- sho%l$ th f&!+ )!o-EF. Th ! a! a n%+" ! of $&ff ! nt -a#s of ans- !&n) that 4% st&on, "%t th +ost co++on )&. s fo%! ans- !s< 7o!&8ontal &nt )!at&on

V !t&cal &nt )!at&on 3&. !s&f&cat&on Int ns&f&cat&on

A +o! $ ta&l $ sch + s %s s th cat )o!& s< P!os* cto! Anal#8 ! 3 f n$ ! R acto!

INS&RANCE NEED >h# &s &ns%!anc n c ssa!#E Th 4% st&on conta&ns th ans- ! -&th&n &ts lf. Aft ! all, l&f &s f!a%)ht -&th t ns&ons an$ a**! h ns&ons ! )a!$&n) th f%t%! an$ -hat &t hol$s fo! th &n$&.&$%al. 3 s*&t acc%!at l# )%a!ant > a! all th *lann&n) an$ *! *a!at&on on +&)ht +a( , no on can o! *! $&ct ho- o! -h n $ ath +&)ht ! s%lt an$ th c&!c%+stanc s an$ 6&st nc a! constantl# f!a%)ht -&th $an) ! an$

that +&)ht ns% &n &ts aft !+ath. not sa#&n) that l&f %nc !ta&nt#. B%t th n &t &s ss nt&al that #o% *lan fo! th f%t%! . Th chanc s fo! a fatal&t# o! an &n?%!# to occ%! to th a. !a) &n$&.&$%al +a# not " *a!t&c%la!l# h&)h "%t th n no on can ! all# affo!$ to co+*l t l# $&s! )a!$ h&s o! h ! f%t%! an$ -hat &t hol$s. P o*l ) n !all# ! )a!$ &ns%!anc as a sch + -h n an$ -h ! #o% ha. to los a lot to )a&n a l&ttl . N . !th l ss, &ns%!anc &s st&ll th +ost ! l&a"l tool an &n$&.&$%al can %s to *lan fo! h&s f%t%! . An$ ?%st -h# &s &t n c ssa!# to *lan fo! th f%t%! -&th Ins%!anc E An O'er'ieIns%!anc "%s&n ss &s $&.&$ $ &nto fo%! class s< 1: L&f Ins%!anc "%s&n ss G: 1&! A: Ma!&n 4: M&sc llan o%s Ins%!anc .

L&f Ins%! !s t!ansact l&f &ns%!anc "%s&n ssH th ! st &s t!ansact $ "# C n !al Ins%! !s. No co+*os&t s a! * !+&tt $ as * ! la-. Th "%s&n ss of Ins%!anc ss nt&all# + ans $ f!a#&n) !&s(s attach $ to an# act&.&t# o. ! t&+ 9&ncl%$&n) l&f : an$ sha!&n) th !&s(s " t- n .a!&o%s nt&t& s, "oth * !sons an$ o!)an&sat&ons. Ins%!anc co+*an& s 9I2s: a! &+*o!tant *la# !s &n f&nanc&al +a!( ts as th # coll ct an$ &n. st la!) a+o%nts of *! +&%+. Ins%!anc *!o$%cts a! +%lt& *%!*os an$ off ! th follo-&n) " n f&ts< 1. P!ot ct&on to th &n. sto!s G. Acc%+%lat sa.&n)s A. 2hann l&s sa.&n)s &nto s cto!s n $&n) h%) lon) t !+ &n. st+ nts. &cs ! c &. , -&tho%t +%ch $ fa%lt, a st a$# cash st! a+ of *! +&%+ o! cont!&"%t&ons to * ns&on *lans. .a!&o%s act%a!# st%$& s an$ +o$ ls na"l th + to *! $&ct, ! lat&. l# acc%!at l#, th &! 6* ct $ cash o%tflo-s. l&a"&l&t& s of &cs " &n) lon)0t !+ o! cont&n) nt &n nat%! , l&4%&$&t# &s 6c ll nt an$ th &! &n. st+ nts a! also lon)0t !+ &n nat%! . s&nc th # off ! +o! than th ! t%!n on sa.&n)s &n th sha* of l&f 0co. ! to th &n. sto!s, th !at of ! t%!n )%a!ant $ &n th &! &ns%!anc *ol&c& s &s ! lat&. l# lo-. cons 4% ntl#, th n $ to s ( h&)h !at s of ! t%!ns on th &! &n. st+ nts &s also lo-. th !&s(0! t%!n t!a$ off &s h a.&l# t&lt $ &n fa.o! of !&s(. as a co+"&n $ ! s%lt of all th&s, &n. st+ nts of &ns%!anc co+*an& s ha. " n la!) l# &n "on$s float $ "# )o&, *s%s, stat )o. !n+ nts, local "o$& s, co!*o!at "o$& s an$ +o!t)a) s of lon) t !+ nat%! . th last *lac -h ! &ns%!anc co+*an& s a! 6* ct $ to " o. !0act&. &s "o%!s s. lat l# &cs ha. . nt%! $

&nto * ns&on sch + s an$ +%t%al f%n$s also. ho- . !, l&f &ns%!anc const&t%t s th +a?o! sha! of &ns%!anc "%s&n ss. l&f &ns%!anc $ * n$s %*on th la-s of +o!tal&t# an$ th ! l& s th $&ff ! nc " t- n l&f an$ ) n !al &ns%!anc "%s&n ss s. l&f has to 6t&n)%&sh soon ! o! lat ! an$ th cla&+ &n ! s* ct of l&f &s c !ta&n. &n cas of ) n !al &ns%!anc , ho- . !, th ! +a# n . ! " a cla&+ an$ th a+o%nt can n . ! " asc !ta&n $ &n a$.anc . h nc , l&f &ns%!anc &ncl%$ s, " s&$ s co. !&n) th !&s( of a!l# ha** n&n) of an . nt, an l + nt of sa.&n)s also fo! th " n f&c&a!& s. * ns&on "%s&n ss also $ !&. s f!o+ l&f &ns%!anc &n as +%ch as th * ns&on o%t)o a)a&n $ * n$s %*on th la-s of +o!tal&t#. th fo!a#s +a$ "# &ns%!anc co+*an& s &n th&s a! a a! , th ! fo! , nat%!al co!olla!# of th &! "%s&n ss.

INS&RANCE IN INDIA Ins%!anc &n In$&a sta!t $ -&tho%t an# ! )%lat&ons &n th n&n t nth c nt%!#. It -as a t#*&cal sto!# of a colon&al !a< a f - B!&t&sh &ns%!anc co+*an& s $o+&nat&n) th +a!( t s !.&n) +ostl# la!) %!"an c nt !s. Aft ! th &n$ * n$ nc , th L&f Ins%!anc 2o+*an# -as nat&onal&8 $ &n 1IJK, an$ th n th ) n !al &ns%!anc "%s&n ss -as nat&onal&8 $ &n 1ILG. Onl# &n 1III *!&.at &ns%!anc co+*an& s - ! allo- $ "ac( &nto th "%s&n ss of &ns%!anc -&th a +a6&+%+ of GK * ! c nt of fo! &)n hol$&n) 9>o!l$ Ban( Econo+&c R .& - G000:. Th nt!# of th Stat Ban( of In$&a -&th &ts *!o*osal of "an( ass%!anc "!&n)s a n - $#na+&cs &n th )a+ . On M%l# 14, G000 Ins%!anc R )%lato!# an$ 3 . lo*+ nt A%tho!&t# "&ll -as *ass $ to *!ot ct th &nt ! st of th *ol&c#hol$ !s f!o+ *!&.at an$ fo! &)n *la# !s. Th follo-&n) co+*an& s a! nt&tl $ to $o &ns%!anc "%s&n ss &n In$&a. Th *!&.at &ns%!anc ?o&nt . nt%! s ha. coll ct $ th *! +&%+ of Rs.101I.0I c!o! -&th th &n. st+ nt of ?%st Rs.A, 000 c!o! &n th! # a!s Ol$ 2o!*o!at&on 9&. .LI2:. As * ! th * !&o$ %n$ ! ! .& -. Of th&s, *!&.at # a!s of l&" !al&8at&on. Th *!&.at f&)%! s co+*&l $ "# IR3A, th L&f &ns%!anc *la# !s ha. s&)n&f&cantl# &+*!o.&n) th &! +a!( t sha! -h n co+*a! $ to J0 Ins%!anc In$%st!# ! co!$ $ a total *! +&%+ %n$ !-!&tt n of Rs. 10,L0L.IK c!o! fo! th *la# !s cont!&"%t $ to Rs.1, 01I.0I c!o! , acco%nt&n) fo! 10 * !c nt. L&f Ins%!anc 2o!*o!at&on of In$&a 9LI2:, th *%"l&c s cto! )&ant, cont&n% $ to l a$ -&th a *! +&%+ coll ct&on of Rs.I,KNN.NL c!o! , t!anslat&n) &nto a +a!( t sha! of I0 * ! c nt. In t !+s of n%+" ! of *ol&c& s an$ sch + s sol$, *!&.at s cto! acco%nt $ fo! onl# A.LL* ! c nt as co+*a! $ to IK.GA * ! c nt sha! of LI2 9Th Econo+&c T&+ s, G1 Ma!ch, G004:. Th I2I2I P!%$ nt&al to** $ a+on) th *!&.at *la# !s &n t !+s of *! +&%+ coll ct&on. It ! co!$ $ a *! +&%+ of Rs. AK4.I c!o! an$ a +a!( t sha! of GJ * ! c nt, follo- $ "# B&!la S%n L&f -&th a *! +&%+ %n$ !0 -!&tt n Rs.1L0 c!o! an$ a +a!( t sha! of 1J * !c nt, 7312 Stan$a!$ -&th 1AG.L c!o! an$ Ma6 N - Oo!( L&f -&th Rs.LK.N c!o! -&th a +a!( t sha! of a**!o6&+at l# 1J * ! c nt ach. Unl&( th &! co%nt !*a!t &n th l&f &ns%!anc "%s&n ss, *!&.at non0l&f &ns%!anc co+*an& s ha. not # t sta!t $ a$$! ss&n)

th ! ta&l +a!( t. All &s s t to chan) &n th co+&n) # a!s. L&( &n th "an(&n) s cto!, non0l&f &ns%!anc co+*an& s -&ll soon ha. no cho&c "%t to foc%s on &n$&.&$%al "%# !s. In cas of *!&.at non0l&f &ns%!anc *la# !s, that th &! +a!( t sha! !os to 14.1A * ! c nt, ! co!$&n) a )!o-th of L0.LJ * ! c nt on an ann%al "as&s, -h&l th +a!( t sha! of *%"l&c s cto! stoo$ at NJ.NL * ! c nt, ! )&st !&n) a +a!)&nal )!o-th of K.A4 * ! c nt. Th o. !all +a!( t has ! co!$ $ a )!o-th of 1G.AG * ! c nt "# th n$ of Man%a!# G004. A+on) th *!&.at non0l&f &ns%!anc *la# !s, I2I2I Lo+"a!$ to** $ th l&st -&th a *! +&%+ coll ct&on of Rs.40A.KG c!o! &n on # a! * !&o$ -&th a +a!( t sha! of A.0J * ! c nt an$ -&th an ann%al 1A1.K * ! c nt, follo- $ "# Ba?a? All&an8 -&th a *! +&%+ of Rs.ANJ.0G c!o! an$ G.I1 * ! c nt +a!( t sha! an$ Tata AIC -&th A00.4I c!o! *! +&%+ an$ G.GL * ! c nt +a!( t sha! -&th an ann%al )!o-th !at of KG.K0 * ! c nt. A+on) th *%"l&c s cto! *la# !s, N - In$&a )a!n ! $ a +a!( t sha! of G4.AN * ! c nt, Rs.A,GGI.4I c!o! *! +&%+ an$ an ann%al )!o-th !at of 0.AN * ! c nt, follo- $ "# Nat&onal -&th a +a!( t sha! of G1.4A * ! c nt, Rs.G,NAI.11 c!o! *! +&%+ an$ an ann%al )!o-th !at of 1I.NN * ! c nt, Un&t $ In$&a -&th a +a!( t sha! of 1I.4L * ! c nt 9Rs.G,JLN.NA c!o! *! +&%+: an$ O!& ntal -&th a +a!( t sha! of 1N.GJ * ! c nt, Rs.G,41L.1L c!o! *! +&%+ an$ an ann%al )!o-th !at of 1.NK * ! c nt. It &s s&)n&f&cant to not that 7312 2h%"" an$ 2hola+an$ala+ ha. ! )&st ! $ ann%al )!o-th !at s of 40A0.GK * ! c nt an$ 1101.G0 * ! c nt ! s* ct&. l#, -h ! as N - In$&a has ! )&st ! $ &t as 0.AN * ! c nt. If th&s t! n$ cont&n% s, *!&.at &ns%! ! -o%l$ $o+&nat th *%"l&c s cto! l&( N - In$&a Ins%!anc 2o!*o!at&on. It &s o".&o%sl# ! fl ct th &ns%!anc s cto! has fac&n) th chall n) s -&th fo! &)n co%nt ! *a!t& s as - ll as *!&.at co%nt ! *a!t& s an$ lot +o! o**o!t%n&t& s a! *! .a&l&n) to * n t!at th &ns%!anc "%s&n ss a+on) th %nco. ! $ * o*l an$ a! a of In$&a. 1%!th !, &t l a$s to cono+&c $ . lo*+ nt of th co%nt!#. In th&s ! )a!$, &t ass%+ s )! at ! s&)n&f&canc to con$%ct $ "at a+on) th &nt !0 $&sc&*l&na!# * !sons.

BRIEF 5ISTOR6 OF INS&RANCE SECTOR IN INDIA Th &ns%!anc s cto! &n In$&a has co+ a f%ll c&!cl f!o+ " &n) an o* n co+* t&t&. +a!( t to nat&onal&8at&on an$ "ac( to a l&" !al&8 $ +a!( t a)a&n. T!ac&n) th $ . lo*+ nts &n th In$&an &ns%!anc s cto! ! . als th AK00$ )! -&tn ss $ o. ! a * !&o$ of al+ost 1I0 # a!s. Th "%s&n ss of l&f &ns%!anc &n In$&a &n &ts 6&st&n) fo!+ sta!t $ &n In$&a &n th # a! 1N1N -&th th sta"l&sh+ nt of th O!& ntal L&f Ins%!anc 2o+*an# &n 2alc%tta. So+ of th &+*o!tant +&l ston s &n th l&f &ns%!anc "%s&n ss &n In$&a a! < 1I1G 0 Th In$&an L&f Ass%!anc 2o+*an& s Act nact $ as th f&!st stat%t to ! )%lat th l&f &ns%!anc "%s&n ss. 1IGN 0 Th In$&an Ins%!anc 2o+*an& s Act nact $ to na"l th )o. !n+ nt to coll ct stat&st&cal &nfo!+at&on a"o%t "oth l&f an$ non0l&f &ns%!anc "%s&n ss s. 1IAN 0 Ea!l& ! l )&slat&on consol&$at $ an$ a+ n$ $ to "# th Ins%!anc Act -&th th o"? ct&. of *!ot ct&n) th &nt ! sts of th &ns%!&n) *%"l&c. 1IJK 0 G4J In$&an an$ fo! &)n &ns%! !s an$ *!o.&$ nt soc& t& s ta( n o. ! "# th c nt!al )o. !n+ nt an$ nat&onal&8 $. LI2 fo!+ $ "# an Act of Pa!l&a+ nt, .&8. LI2 Act, 1IJK, -&th a ca*&tal cont!&"%t&on of Rs. J c!o! f!o+ th Co. !n+ nt of In$&a. Th C n !al &ns%!anc "%s&n ss &n In$&a, on th oth ! han$, can t!ac &ts !oots to th T!&ton Ins%!anc 2o+*an# Lt$., th f&!st ) n !al &ns%!anc co+*an# sta"l&sh $ &n th # a! 1NJ0 &n 2alc%tta "# th B!&t&sh. So+ of th &+*o!tant +&l ston s &n th ) n !al &ns%!anc "%s&n ss &n In$&a a! < t%!n

1I0L 0 Th In$&an M !cant&l Ins%!anc Lt$. s t %*, th f&!st co+*an# to t!ansact all class s of ) n !al &ns%!anc "%s&n ss. 1IJL 0 C n !al Ins%!anc 2o%nc&l, a -&n) of th Ins%!anc Assoc&at&on of In$&a, f!a+ s a co$ of con$%ct fo! ns%!&n) fa&! con$%ct an$ so%n$ "%s&n ss *!act&c s. 1IKN 0 Th Ins%!anc Act a+ n$ $ to ! )%lat &n. st+ nts an$ s t +&n&+%+ sol. nc# +a!)&ns an$ th Ta!&ff A$.&so!# 2o++&tt s t %*.

1ILG 0 Th C n !al Ins%!anc B%s&n ss 9Nat&onal&8at&on: Act, 1ILG nat&onal&8 $ th ) n !al &ns%!anc "%s&n ss &n In$&a -&th ff ct f!o+ 1st Man%a!# 1ILA. 10L &ns%! !s a+al)a+at $ an$ )!o%* $ &nto fo%! co+*an& s .&8. th Nat&onal Ins%!anc 2o+*an# Lt$., th N - In$&a Ass%!anc 2o+*an# Lt$., th O!& ntal Ins%!anc 2o+*an# Lt$. an$ th Un&t $ In$&a Ins%!anc 2o+*an# Lt$. CI2 &nco!*o!at $ as a co+*an#.

INS&RANCE MARKET IN INDIA NON-LIFE INSURANCE MARKET In 3 c +" ! G000, th CI2 s%"s&$&a!& s - ! ! st!%ct%! $ as &n$ * n$ nt &ns%!anc co+*an& s. At th sa+ t&+ , CI2 -as con. !t $ &nto a nat&onal ! 0&ns%! !. In M%l# G00G, Pa!l&a+ant *ass $ a "&ll, $ l&n(&n) th fo%! s%"s&$&a!& s f!o+ CI2. P! s ntl# th ! a! 1G ) n !al &ns%!anc co+*an& s -&th 4 *%"l&c s cto! co+*an& s an$ N *!&.at &ns%! !s. Altho%)h th *%"l&c s cto! co+*an& s st&ll $o+&nat th ) n !al &ns%!anc "%s&n ss, th *!&.at *la# !s a! slo-l# )a&n&n) a foothol$. Acco!$&n) to st&+at s, *!&.at &ns%!anc co+*an& s ha. a 10 * !c nt sha! of th +a!( t, %* f!o+ 4 * !c nt &n G001. In th f&!st half of G00G, th *!&.at co+*an& s "oo( $ *! +&%+s -o!th Rs K.A4 "&ll&on. Most of th n - nt!ants ! *o!t $ loss s &n th f&!st # a! of th &! o* !at&on &n G001.

>&th a la!) ca*&tal o%tla# an$ lon) ) stat&on * !&o$s, &nf!ast!%ct%! *!o? cts a! f!a%)ht -&th a +%lt&t%$ of !&s(s th!o%)ho%t th $ . lo*+ nt, const!%ct&on an$ o* !at&on sta) s. Th s &ncl%$ !&s(s assoc&at $ -&th *!o? ct &+*l + nta&on, &ncl%$&n) ) olo)&cal !&s(s, +a&nt nanc , co++ !c&al an$ *ol&t&cal !&s(s. >&tho%t co. !&n) th s !&s(s th f&nanc&al &nst&t%t&ons a! not -&ll&n) to co++&t f%n$s to th s cto!, s* c&all# " ca%s th f&nanc&n) of +ost *!&.at *!o? cts &s on a l&+&t $ o! non0 ! co%!s "as&s. Ins%!anc co+*an& s not onl# *!o.&$ !&s( co. ! to &nf!ast!%ct%! *!o? cts, th # also cont!&"%t lon)0t !+ f%n$s. In fact, &ns%!anc co+*an& s a! an &$ al so%!c of lon) t !+ $ "t an$ 4%&t# fo! &nf!ast!%ct%! *!o? cts. >&th lon) t !+ l&a"&l&t#, th # ) t a )oo$ ass t0 l&a"&l&t# +atch "# &n. st&n) th &! f%n$s &n s%ch *!o? cts. IR3A ! )%lat&ons ! 4%&! &ns%!anc co+*an& s to &n. st not l ss than 1J * !c nt of th &! f%n$s &n &nf!ast!%ct%! an$ soc&al s cto!s. Int !nat&onal Ins%!anc co+*an& s also &n. st th &! f%n$s &n s%ch *!o? cts. Ins%!anc costs const&t%t !o%)hl# a!o%n$ 1.G0 G * !c nt of th total *!o? ct costs. Un$ ! th 6&st&n) no!+s, &ns%!anc *! +&%+ *a#+ nts a! t! at $ as *a!t of th f&6 $ costs. 2ons 4% ntl# th # a! t! at $ as *ass0th!o%)h costs fo! ta!&ff calc%lat&ons. P! +&%+ !at s of +ost ) n !al &ns%!anc B&ll&on, th Ta!&ff A$.&so!# 2o++&tt *ol&c& s co+ %n$ ! th *%!.& - of th

)o. !n+ nt a**o&nt $ Ta!&ff A$.&so!# 2o++&t . 1o! P!o? cts cost&n) %* to Rs 1 s ts th *! +&%+ !at s, fo! P!o? cts " t- n Rs 1 "&ll&on an$ Rs 1J "&ll&on, th !at s a! s t &n ( *&n) -&th th co++&tt ;s )%&$ l&n sH an$ *!o? cts a"o. Rs 1J "&ll&on a! s%"? ct $ to ! 0&ns%!anc *!&c&n). It &s th last s )+ nt that has a n%+" ! of a$$&t&onal *!o$%cts an$ co+* t&t&. *!&c&n). Ins%!anc , l&( *!o? ct f&nanc , &s 6t n$ $ "# a conso!t&%+. No!+all# on &ns%! ! ta( s th l a$, sho%l$ !&n) a"o%t 400J0 * ! c nt of th !&s( an$ ! c &.&n) a *!o*o!t&onat * !c nta) of th *! +&%+. Th oth ! co+*an& s sha! th ! +a&n&n) !&s( an$ *! +&%+. Th *ol&c& s a! ! n - $ %s%all# on an ann%al "as&s th!o%)h th &n.&tat&on of "&$s.

Of lat , -&th IPP *!o? cts f&88l&n) o%t, th &ns%!anc co+*an& s a! t%!n&n) onc a)a&n to ol$ han$s s%ch as NTP2, N7P2 an$ BSES fo! "%s&n ss.

RE-INSURANCE BUSINESS Ins%!anc co+*an& s ! ta&n onl# a *a!t of th !&s( 9l ss than 10 * ! c nt: ass%+ $ "# th +, -h&ch can " saf l# "o!n f!o+ th &! o-n f%n$s. Th "alanc !&s( &s ! 0&ns%! $ -&th oth ! &ns%! !s. In ff ct, th ! fo! , ! 0&ns%!anc &s &ns%! !;s &ns%!anc . It fo!+s th "ac("on of th &ns%!anc "%s&n ss. It h l*s to *!o.&$ a " tt ! s*! a$ of !&s( &n th &nt !nat&onal +a!( t, allo-s *!&+a!# &ns%! !s to acc *t !&s(s " #on$ th &! ca*ac&t#, s ttl acc%+%lat $ loss s a!&s&n) f!o+ catast!o*h&c . nts an$ st&ll +a&nta&n th &! f&nanc&al sta"&l&t#. >h&l CI2;s s%"s&$&a!& s loo( aft ! ) n !al &ns%!anc , CI2 &ts lf has " n th +a?o! ! &ns%! !. 2%!! ntl#, all &ns%!anc co+*an& s ha. to )&. G0 * ! c nt of th &! ! &ns%!anc "%s&n ss to CI2. Th a&+ &s to ns%! that CI2;s !ol as th nat&onal ! &ns%! ! ! +a&ns %nh&n$ ! $. 7o- . !, CI2 ! &ns%! s th a+o%nt f%!th ! -&th &nt !nat&onal co+*an& s s%ch as S-&ss! 9S-&t8 !lan$:, M%n&ch! 9C !+an#:, an$ Ro#al 9UK:. R &ns%!anc *! +&%+s ha. s n an 6o!"&tant &nc! as &n ! c nt # a!s, follo-&n) th !&s &n th! at * !c *t&ons )lo"all#.

LIFE INSURANCE MARKET Th L&f Ins%!anc +a!( t &n In$&a &s an %n$ !$ . lo* $ +a!( t that -as onl# ta** $ "# th stat o-n $ LI2 t&ll th nt!# of *!&.at &ns%! !s. Th * n t!at&on of l&f &ns%!anc *!o$%cts -as 1I * !c nt of th total 400 +&ll&on of th &ns%!a"l *o*%lat&on. Th stat o-n $ LI2 sol$ &ns%!anc as a ta6 &nst!%+ nt, not as a *!o$%ct )&.&n) *!ot ct&on. Most c%sto+ !s - ! %n$ !0 &ns%! $ -&th no fl 6&"&l&t# o! t!ans*a! nc# &n th *!o$%cts. >&th th nt!# of th *!&.at &ns%! !s th !%l s of th )a+ ha. chan) $.

Th 1G *!&.at &ns%! !s &n th l&f &ns%!anc +a!( t ha. al! a$# )!a"" $ n a!l# I * !c nt of th +a!( t &n t !+s of *! +&%+ &nco+ . Th n - "%s&n ss *! +&%+s of th 1G *!&.at

*la# !s has t!&*l $ to Rs 1000 c!o! &n G00G0 0A o. ! last # a!. M an-h&l , stat o-n $ LI2;s n - *! +&%+ "%s&n ss has fall n. Inno.at&. *!o$%cts, s+a!t +a!( t&n) an$ a))! ss&. $&st!&"%t&on. That;s th t!&*l

-ha++# co+"&nat&on that has na"l $ fl $)l&n) *!&.at &ns%!anc co+*an& s to s&)n %* In$&an c%sto+ !s fast ! than an#on . ! 6* ct $. In$&ans, -ho ha. al-a#s s n l&f &ns%!anc as a ta6 sa.&n) $ .&c , a! no- s%$$ nl# t%!n&n) to th *!&.at s cto! an$ sna**&n) %* th n - &nno.at&. *!o$%cts on off !. Th )!o-&n) *o*%la!&t# of th *!&.at &ns%! !s sho-s &n oth ! -a#s. Th # a! co&n&n) +on # &n n - n&ch s that th # ha. $o+&nat s )+ nts l&( th +a!( t. An$ &n th &nt!o$%c $. Th stat o-n $ co+*an& s st&ll n$o-+ nts an$ +on # "ac( *ol&c& s. B%t &n th ann%&t# o! *o*%la! %n&t0l&n( $ &ns%!anc sch + s th # ha. a .&!t%al

* ns&on *!o$%cts "%s&n ss, th *!&.at &ns%! !s ha. al! a$# -! st $ o. ! AA * !c nt of +ono*ol#, -&th o. ! I0 * !c nt of th c%sto+ !s. Th *!&.at &ns%! !s also s + to " sco!&n) "&) &n oth ! -a#s0 th # a! * !s%a$&n) * o*l to ta( o%t "&)) ! *ol&c& s. 1o! &nstanc , th a. !a) s&8 of a l&f &ns%!anc *ol&c# " fo! *!&.at&sat&on -as a!o%n$ Rs J0,000. That has !&s n to a"o%t Rs N0,000. B%t th *!&.at &ns%! !s a! ah a$ &n th&s )a+ an$ th a. !a) s&8 of th &! *ol&c& s &s a!o%n$ Rs 1.1 la(h to Rs 1.G la(h0 -a# "&)) ! than th &n$%st!# a. !a) . B%o# $ "# th &! 4%&c( ! than 6* ct $ s%cc ss, n a!l# all *!&.at &ns%! !s a! fast0 fo!-a!$&n) th s con$ *has of th &! 6*ans&on *lans. No $o%"t th a))! ss&. stanc of *!&.at &ns%! !s &s al! a$# *a#&n) !&ch $&.&$ n$s. B%t a ! ?%. nat $ LI2 &s also t!#&n) to f&)ht "ac( to -oo n - c%sto+ !s.

COMPARISON OF TERM INS&RANCE PREMI&MS BRs%C 6earD

PREMI&M STR&CT&RE OF ENDO9MENT PLANS 9RS. /OEAR:

MINIM&M REE&IRED COMPO&ND BON&S RATE BIN FD

95OLE LIFE INS&RANCE PREMI&MS BRS%C 6EARD

EE&IT6 S5ARE CAPITAL OF LIFE INS&RANCE COMPANIES

F$rei.n Na"e $f t)e insurer Life Insurers 7312 Stan$a!$ L&f Ins%!anc 2o. Lt$. I2I2I0P!%$ nt&al L&f Ins%!anc 2o. Lt$. Ma6 N - Oo!( L&f Ins%!anc 2o. Lt$. Kota( Mah&n$!a Ol$ M%t%al L&f Ins%!anc 2o. Lt$. B&!la S%n L&f Ins%!anc 2o. Lt$. TATA0AIC L&f Ins%!anc 2o. Lt$. SBI L&f Ins%!anc 2o. Lt$. INC V#s#a L&f Ins%!anc 2o. Lt$. M tl&f In$&a Ins%!anc 2o. Lt$. Ba?a? All&an8 L&f Ins%!anc 2o. Lt$. AMP San+a! AVIVA Saha!a In$&a Su! T$tal L&f Ins%!anc 2o!*o!at&on of In$&a T$tal BLifeD In#ian

/00:208 /00820; Pr$"$ter Pr$"$ter

GJJ.J0 KLJ.00 A4K.0N 1J1.GK GI0.00 GA1.00 1LJ.00 G4J.00 1K0.00 1J0.0L 1K0.00 G4G.N0 1JL.00 :/:?%=1 J.00 :/8:%=1

AG0.00 4L.JG IGJ.00 G40.J0 4KK.0N 1G1.1N G11.LK JJ.0K AJ0.00 I1.00 AG1.00 NA.4K AJ0.00 I1.00 AGJ.00 N4.J0 GAJ.00 K1.10 1J0.0L AI.0G G1L.10 JK.4J A1I.N0 NA.1J 1JL.00 0.00 8:8=%?1 10;:%@: J.00 8:;/%?1 10;:%@:

GLG.4N KN4.J0 A44.I0 GK.00 GK.00 GAL.J4 GJI.00 GK.00 1LA.I0 111.0J 1K0.KJ GAK.KJ 1JL.00 :/@:%?? J.00 :/@?%??

IN7ESTMENTS OF LIFE INS&RERS IN LIFE F&ND

9Rs. In 2!o! :

G00J PUBLI2 SE2TOR LI2 9A: PRIVATE SE2TOR 7312 ST3 LI1E MNOL I2I2IPRU BSLI TATA AIC KOTAK LI1E SBI LI1E BAMAM ALLIANP METLI1E AMP SANMAR INC VOSOA AVIVA SA7ARA LI1E TOTAL 9B: TOTAL 9AQB: AK14GN.NL 4N0.LL 4AK.AL IL0.KA 1L0.0K AIG.LK G00.KL IK0.NI ANG.GN 1JL.1N 110.L1 G41.GG 144.IJ 14G.4N 4LI0.IN AKKG1I.NJ

G004 A044AK.NN A0J.4A G41.NJ KJN.4J 140.AN GG0.KJ 1AA.4A AKL.N4 GG1.I1 1G0.1N IN.KI LJ.GN 144.KJ 14A.GI GNLG.0A A0LA0N.I1

IN7ESTMENTS OF LIFE INS&RERS IN PENSIONS F&NDS

9Rs. In 2!o! :

G00J PUBLI2 SE2TOR LI2 9A: PRIVATE SE2TOR 7312 ST3 LI1E MNOL I2I2IPRU BSLI TATA AIC KOTAK LI1E SBI LI1E BAMAM ALLIANP METLI1E AMP SANMAR INC VOSOA AVIVA SA7ARA LI1E TOTAL 9B: TOTAL 9AQB: 114KG.0A 1J1.I1 14.0A 1KK.K4 0.0K LK.LN 1A.AK LN.IL I.GN 0.G1 J0.4J 0.00 0.00 0.0K JK1.LJ 1G0AA.LN

G004 IG44.0K 101.KN G.11 1GL.JI 0.00 AI.LI L.J4 1J.41 A.N1 0.00 I.NA 0.00 0.00 0.00 A0L.LL IJJ1.NA

IN7ESTMENTS OF LIFE INS&RERS IN GRO&P INS&RANCE

9Rs. In 2!o! :

G00J PUBLI2 SE2TOR LI2 9A: PRIVATE SE2TOR 7312 ST3 LI1E MNOL I2I2IPRU BSLI TATA AIC KOTAK LI1E SBI LI1E BAMAM ALLIANP METLI1E AMP SANMAR INC VOSOA AVIVA SA7ARA LI1E TOTAL 9B: TOTAL 9AQB: 4GKAI.4G 0.00 L.GJ 0.00 0.00 14.L0 G.0J 10.LL 1.GL G.JG 0.00 0.00 G.NJ 0.0G 41.4A 4GKN0.NJ

G004 A40KN.AG 0.00 1.AJ 0.00 0.00 0.00 0.I0 G.IG 0.IJ 0.44 0.00 0.00 0.JL 0.00 L.1J A40LJ.4L

IN7ESTMENTS OF LIFE INS&RERS IN &NIT LINKED PLANS

9Rs. In 2!o! :

/00; P&BLIC SECTOR LIC BAD PRI7ATE SECTOR 7312 ST3 LI1E MNOL I2I2IPRU BSLI TATA AIC KOTAK LI1E SBI LI1E BAMAM ALLIANP METLI1E AMP SANMAR INC VOSOA AVIVA SA7ARA LI1E TOTAL BBD TOTAL BAGBD /=;?%<= GI0.KL G0.44 GAAL.1K 11GJ.LG N0.N1 A0N.AA A.J4 AKI.G4 1.L4 G1.40 LN.K1 1A1.1A 0.00 8=<?%== =;/=%8;

/008 /0@%?= K0.I1 0.00 LN0.0L 4L4.KG 1G.LJ JA.J4 0.00 GN.K1 0.00 0.00 G0.N1 4L.1A 0.00 18=?%8: 1<??%:1

COMPAN6 PROFILE
BAJAJ ALLIANH LIFE INS&RANCE Bajaj Allianz Life Insuran e C$"+an( Li"ite# Ba?a? All&an8 L&f Ins%!anc 2o. Lt$. &s a ?o&nt . nt%! " t- n t-o l a$&n) con)lo+ !at s0 , Ba?a? A%to, on of th "&)) st G an$ A -h l ! +an%fact%! !s &n th -o!l$ an$ All&an8 AC, on of th -o!l$;s la!) st &ns%!anc co+*an& s. Bajaj Allianz Life Insuran e Is th fast st )!o-&n) *!&.at l&f &ns%!anc co+*an# &n In$&a. 2%!! ntl# has o. ! A,00,000 sat&sf& $ c%sto+ !s > ha. c%sto+ ! ca! c nt !s &n 1JJ c&t& s -&th GN000 Ins%!anc 2ons%ltant *!o.&$&n) th f&n st c%sto+ ! s !.&c . On of In$&a;s l a$&n) *!&.at l&f &ns%!anc co+*an& s

Bajaj Allianz General Insuran e C$"+an( Li"ite# Ba?a? All&an8 C n !al Ins%!anc 2o+*an# L&+&t $ &s a ?o&nt . nt%! " t- n Ba?a? A%to L&+&t $ an$ All&an8 AC of C !+an#. Both n?o# a ! *%tat&on of 6* !t&s , sta"&l&t# an$ st! n)th. Ba?a? All&an8 C n !al Ins%!anc ! c &. $ th Ins%!anc R )%lato!# an$ 3 . lo*+ nt A%tho!&t# 9IR3A: c !t&f&cat of R )&st!at&on 9RA: on Ma# Gn$, G001 to con$%ct C n !al Ins%!anc "%s&n ss 9&ncl%$&n) 7 alth Ins%!anc "%s&n ss: &n In$&a. Th 2o+*an# has an a%tho!&8 $ an$ *a&$ %* ca*&tal of Rs 110 c!o! s. Ba?a? A%to hol$s L4R an$ th ! +a&n&n) GKR &s h l$ "# All&an8, AC, C !+an#. Ba?a? All&an8 to$a# has a n t-o!( of 4G off&c s s*! a$ ac!oss th l n)th an$ "! a$th of th co%nt!#. 1!o+ S%!at to S&l&)%!& an$ Ma++% to Th&!%.anantha*%!a+, all th off&c s a! &nt !conn ct $ -&th th 7 a$ Off&c at P%n .

ALLIANH GRO&P All&an8 C!o%* &s on of th -o!l$;s l a$&n) &ns%! !s an$ f&nanc&al s !.&c s *!o.&$ !s. 1o%n$ $ &n 1NI0 &n B !l&n, All&an8 &s no- *! s nt &n o. ! L0 co%nt!& s -&th al+ost 1L4,000 +*lo# s. At th to* of th &nt !nat&onal )!o%* &s th hol$&n) co+*an#, All&an8 AC, -&th &ts h a$ off&c &n M%n&ch. All&an8 C!o%* *!o.&$ s &ts +o! than K0 +&ll&on c%sto+ !s -o!l$-&$ -&th a co+*! h ns&. !an) of s !.&c s &n th a! as of P!o* !t# an$ 2as%alt# Ins%!anc , L&f an$ 7 alth Ins%!anc , Ass t Mana) + nt an$ Ban(&n). ALLIANP AC0 A CLOBAL 1INAN 2IAL PO>ER7OUSE >o!l$-&$ Gn$ "# C!oss >!&tt n P! +&%+s 0 Rs.4,4K,KJ4 c!. A!$ la!) st Ass ts Un$ ! Mana) + nt 9AUM: 5 la!) st a+on)st Ins%!anc cos. 0 AUM of Rs.J1,IK,IJI c!. 1Gth la!) st co!*o!at&on &n th -o!l$ 4I.N R of )lo"al "%s&n ss f!o+ L&f Ins%!anc Esta"l&sh $ &n 1NI0, 110 #!s of Ins%!anc 6* !t&s

L0 co%nt!& s, 1LA,LJ0 +*lo# s -o!l$-&$

BAJAJ GRO&P Ba?a? A%to Lt$, th fla)sh&* co+*an# of th Rs. N000 c!o! Ba?a? )!o%* &s th la!) st +an%fact%! ! of t-o0-h l !s an$ th! 0-h l !s &n In$&a an$ on of th la!) st &n th -o!l$. A ho%s hol$ na+ &n In$&a, Ba?a? A%to has a st!on) "!an$ &+a) 5 "!an$ lo#alt# s#non#+o%s -&th 4%al&t# 5 c%sto+ ! foc%s. A STRONC IN3IAN BRAN30 7AMARA BAMAM On of th la!) st G 5 A -h l ! +an%fact%! ! &n th -o!l$ G1 +&ll&onQ . h&cl s on th !oa$s ac!oss th )lo" Mana)&n) f%n$s of o. ! Rs 4000 c!. Ba?a? A%to f&nanc on of th la!) st a%to f&nanc cos. &n In$&a Rs. 4,L44 2!. T%!no. ! 5 P!of&ts of JAN 2!. &n G00G00A It has ?o&n $ han$s -&th All&an8 to *!o.&$ th In$&an cons%+ !s -&th a $&st&nct o*t&on &n t !+s of l&f &ns%!anc *!o$%cts. As a *!o+ot ! of Ba?a? All&an8 L&f Ins%!anc 2o. Lt$., Ba?a? A%to has th follo-&n) to off ! 0 1&nanc&al st! n)th an$ sta"&l&t# to s%**o!t th Ins%!anc B%s&n ss. A st!on) "!an$0 4%&t#. A )oo$ +a!( t ! *%tat&on as a -o!l$ class o!)an&8at&on. An 6t ns&. $&st!&"%t&on n t-o!(. A$ 4%at 6* !& nc of !%nn&n) a la!) o!)an&8at&on.

PROD&CTS All&an8 AC -&th o. ! 110 # a!s of 6* !& nc &n o. ! L0 co%nt!& s an$ Ba?a? A%to, t!%st $ fo! o. ! JJ # a!s &n th In$&an +a!( t, to) th ! a! co++&tt $ to off !&n) #o% f&nanc&al sol%t&ons that *!o.&$ all th s c%!&t# #o% n $ fo! #o%! fa+&l# an$ #o%!s lf. Ba?a? All&an8 "!&n)s to #o% s . !al &nno.at&. *!o$%cts, th $ ta&ls of -h&ch #o% can "!o-s &n th&s s ct&on.

INDI7ID&AL PROD&CTS
&NITGAIN
A Un&t L&n( $ Plan

RISK CARE
P%! T !+ Plan

TERM CARE
T !+ Plan -&th R t%!n0of0P! +&%+

IN7ESTGAIN
An En$o-+ nt Plan

LIFETIME CARE
>hol L&f Plan

C5ILDGAIN
2h&l$! n;s Pol&c#

LOAN PROTECTOR
A Mo!t)a) R $%c&n) T !+ Ins%!anc Plan

CAS5GAIN
Mon # Bac( Plan

KE6MAN INS&RANCE
A P!o+&s&n) B%s&n ss O**o!t%n&t#

S9ARNA 7IS5RANTI
R t&! + nt Plan

&NITGAIN PL&S
Un&t L&n( *lan -&th h&)h ! allocat&on

LIFELONG GAIN PLAN A l&f t&+ of s c%!&t# fo! #o%! fa+&l# MA5ILAGAIN RIDER
Th %n&4% *lan that ta( s ca! of #o% an$ #o%! lo. $ on s. l&n s.... not

RIDERS &NITGAIN PL&S

>h&l th "as&c l&f &ns%!anc

&NITGAIN EAS6 PENSION

A Plan that na"l s #o% ! t&! -&th la%)ht ! -o!!# l&n s

S9ARNA RAKS5A2ROC
A *lan that *!o.&$s #o% -&th ! )%la! &nco+ ... fo! l&f .

5EALT5CARE
Th&s &s a th! 0# a! h alth &ns%!anc *lan, -&th l&f &ns%!anc " n f&t.

&G PREMIER
U*f!ont Allocat&on of 10JR of s&n)l *! +&%+ on $a# 1

T!a$&t&onal Plans 9En$o-+ nts: An en#$-"ent +$li ( &s a l&f &ns%!anc cont!act $ s&)n $ to *a# a l%+* s%+ aft ! a s* c&f& $ t !+ 9on &ts ;+at%!&t#;: o! on a!l& ! $ ath. En$o-+ nt *ol&c# t#*&cal +at%!&t& s a! t n, f&ft n o! t- nt# # a!s %* to a c !ta&n a) l&+&t. So+ *ol&c& s also *a# o%t &n th cas of c!&t&cal &lln ss. T!a$&t&onal Plans Th s a! th ol$ st t#* s of &ns%!anc *lans a.a&la"l . Th s *lans cat ! to c%sto+ !s -&th a lo- !&s( a** t&t . So+ of th co++on f at%! s of t!a$&t&onal *lans a! < 1. St a$# In. st+ nt 1. Ma?o! ch%n( of &n. st&"l f%n$s a! &n $ "t &nst!%+ nts. G. St a$# an$ al+ost ass%! $ ! t%!ns o. ! th lon) t !+. G. 1 at%! s 1. 3 ath " n f&t &s S%+ Ass%! $ Q )%a!ant $ 5 . st $ "on%s. G. 7 l*s &n ass t c! at&on as th # a! fo! a lon) t n%! . A. P! +&%+ to S%+ Ass%! $ !at&os a! f&6 $ fo! ach *lan an$ a) . C n !all# -&th$!a-als a! not allo- $ " fo! +at%!&t# Pol&c& s a! t#*&call# t!a$&t&onal -&th0*!of&ts o! %n&t0l&n( $ 9&ncl%$&n) thos -&th %n&t&s $ -&th0*!of&ts f%n$s:. En$o-+ nts can " cash $ &n a!l# 9o! ;s%!! n$ ! $;: an$ th hol$ ! th n ! c &. s th s%!! n$ ! .al% -h&ch &s $ t !+&n $ "# th &ns%!anc co+*an# $ * n$&n) on ho- lon) th *ol&c# has " n !%nn&n) an$ ho- +%ch has " n *a&$ &n to &t.

Tra#iti$nal 9it) Pr$fits En#$-"ents Th ! &s an a+o%nt )%a!ant $ to " *a&$ o%t call $ th su" assure# an$ th&s can " &nc! as $ on th "as&s of &n. st+ nt * !fo!+anc th!o%)h th a$$&t&on of * !&o$&c 9fo! 6a+*l ann%al: "on%s s. R )%la! "on%s s 9so+ t&+ s ! f !! $ to as re'ersi$nar( !$nuses: a! )%a!ant $ at +at%!&t# an$ a f%!th ! non0)%a!ant $ "on%s +a# " *a&$ at th n$ (no-n as a ter"inal !$nus 3%!&n) a$. !s &n. st+ nt con$&t&ons, th ncash+ nt .al% o! s%!! n$ ! .al% +a# " ! $%c $ "# a ;Ma!( t Val% R $%ct&on; o! MVR 9It &s so+ t&+ ! f !! $ to as a +a!( t .al% a$?%st+ nt "%t th&s &s a t !+ &n $ cl&n th!o%)h *! ss%! f!o+ th 1&nanc&al S !.&c s A%tho!&t# to %s cl a! ! t !+s: Th &$ a of s%ch a + as%! &s to *!ot ct th &n. sto!s -ho ! +a&n &n th f%n$ f!o+ oth !s -&th$!a-&n) f%n$s -&th not&onal .al% s that a! , o! !&s( " &n), &n 6c s of th .al% of %n$ !l#&n) ass ts at a t&+ -h n stoc( +a!( ts a! lo-. If an MVA a**l& s an a!l# s%!! $n ! -o%l$ " ! $%c $ acco!$&n) to th *ol&c& s a$o*t $ "# th f%n$s +ana) !s at th t&+ . En$o-+ nts ha. " n c!&t&c&s $, &n th *ast, fo! off !&n) lo- s%!! n$ ! .al% s an$ *!o.&$&n) *oo! l . ls of fl 6&"&l&t# $%!&n) * !&o$s -h n a cl& nt has an &na"&l&t# to +a( *a#+ nts. As o**os $ to a +o!t)a) l n$ ! -ho+ +a# allo- fo! a $ )! +a( a *lan ;*a&$ %*; &f *! +&%+s a! not st%$&o%sl# +a&nta&n $. Tra#iti$nal Plans $ffere# !( Stan#ar# C)arte# !an* C)li# Gain Cas) Gain In'est .ain IC5ILDGAINJ PLAN Ta(&n) ca! of a ch&l$ &s * !ha*s th +ost &+*o!tant ?o" a *a! nt can ha. . It &s nat%!al that #o% -o%l$ l&( to )&. #o%! ch&l$ #o%! " st, an$ th ! fo! , th&s &s th t&+ -h n ca! f%l f&nanc&al *lann&n) can h l* #o% f%lf&ll th as*&!at&ons that #o% ha. fo! #o%! ch&l$! n. Th Ba?a? All&an8 2h&l$Ca&n Sol%t&ons h l* #o% to n?o# th ?o#s of *a! nthoo$ ! s*ons&"l#, -&th th ! ass%!anc of a s c%! f%t%! fo! #o%! ch&l$. of fl 6&"&l&t# &n s%ch c&!c%+stanc s, as a cons 4% nc of ! $%n$anc# tc, l&f co+*an& s -&ll oft n

2o++on f at%! s &n th 4 O*t&ons of Ba?a? All&an8 '2h&l$Ca&n, Plan 1. L&+&t $ P! +&%+ Pa#+ nt T !+ -h&ch + ans that th *! +&%+s a! *a#a"l t&ll

#o%! ch&l$ atta&ns a) 1N # a!s. 2. Oo%! cont!&"%t&ons )!o- "# th -a# of co+*o%n$ $ ann%al "on%s s, -h&ch -&ll

" *a&$ to #o% -&th th f&!st )%a!ant $ *a#o%t 9*ol&c# ann&. !sa!# follo-&n) a) 1N of #o%! ch&l$:, fo! &n0fo!c *ol&c& s. In a$$&t&on to th ann%al "on%s s, a t !+&nal "on%s +a# also " *a&$. 3. Oo% a! l&)&"l fo! Ta6 B n f&ts %n$ ! S ct&on N02 an$ S ct&on 10910:3 of th

Inco+ Ta6 Act.

P! +&%+ >a&. ! B n f&t< In cas of $ ath o! acc&$ ntal total * !+an nt $&sa"&l&t# of th *ol&c#hol$ ! $%!&n) th *! +&%+ *a#+ nt t !+, all f%t%! *! +&%+ *a#+ nts a! -a&. $. Th&s " n f&t -&ll not " a.a&la"l &n th $&sa"&l&t# aft ! a) KJ of th *ol&c#hol$ !. 1a+&l# Inco+ B n f&t< In cas of $ ath o! acc&$ ntal total * !+an nt $&sa"&l&t# of th *ol&c#hol$ ! $%!&n) th t !+ of th *ol&c#, a +onthl# &nco+ " n f&t of 1R of th s%+ ass%! $ 91GR * ! ann%+: s%"? ct to a +a6&+%+ of Rs.10,000 *.+. " co+ s *a#a"l t&ll th n$ of th *ol&c# t !+. Th&s " n f&t -&ll not " a.a&la"l &n th . nt of acc&$ ntal * !+an nt total $&sa"&l&t# aft ! a) KJ of th *ol&c#hol$ !. O*t&on to P%!chas f%!th ! Ins%!anc at Mat%!&t#< 1o! ns%!&n) cont&n%&t# of th .al%a"l &ns%!anc *!ot ct&on that th ch&l$ -as n?o#&n), - off ! th ch&l$ an o*t&on to *%!chas a . nt of acc&$ ntal * !+an nt total

-&th *!of&ts

n$o-+ nt o! an

4%&.al nt *lan f!o+ Ba?a? All&an8 L&f

Ins%!anc

2o+*an# fo! t-&c th a+o%nt of fac .al% of th&s *ol&c#, -&tho%t an# + $&cal 6a+&nat&on, on th *! +&%+ !at s *! .a&l&n) at that t&+ 9Th a**l&cat&on +%st " +a$ at l ast K +onths *!&o! to +at%!&t# of th&s *ol&c#:.

1o! 2h&l$Ca&n G1 an$ 2h&l$Ca&n G1 Pl%s< Th +&n&+%+ )%a!ant $ *a#o%ts a! as follo-s<

Pol&c# follo-&n)

Ann&. !sa!# 1N co+*l t&on

1I

G0

G1

of A) as R of S%+ G0R Pa#o%t Ass%! $ Acc!% $ Bon%s s

Q GJR GJR AJRS

1o! 2h&l$Ca&n G4 an$ 2h&l$Ca&n G4 Pl%s< Th +&n&+%+ )%a!ant $ *a#o%ts a! as follo-s<

Pol&c#

Ann&. !sa!# 1N

G0

GG

G4

follo-&n) co+*l t&on of A) Pa#o%t as R of S%+ Ass%! $ GJR Acc!% $ Bon%s s Start $f Life Benefit &ni,ue Feature $f Bajaj Allianz IC)il#GainJ /1 Plus an# /8 Plus Q GJR GJR 40RS

Th s *ac(a) s off ! #o% th cho&c of *!o.&$&n) a %n&4% Sta!t of L&f B n f&t fo! #o%! ch&l$. 1o! a no+&nal a+o%nt, an a$$&t&onal S%+ Ass%! $ s%"? ct to a +a6&+%+ l&+&t of Rs. 10 lacs -&ll " co+ *a#a"l to na"l th ch&l$ sta!t h&s/h ! *!of ss&onal l&f s+oothl#, &n cas of an %nfo!t%nat $ ath o! Acc&$ ntal P !+an nt Total 3&sa"&l&t# of th Pol&c#hol$ ! $%!&n) th t !+ of th *ol&c#. Th&s " n f&t -&ll not " a.a&la"l &n th * !+an nt total $&sa"&l&t#, aft ! a) KJ of th *ol&c#hol$ !. . nt of acc&$ ntal

Deat) Pa($ut3 In th

. nt of %nfo!t%nat $ ath of th ch&l$ $%!&n) th *ol&c# t !+, th

*a#o%ts shall " as %n$ !<

A) B lo- L # a!s A"o. L an$ " lo- 1N # a!s A"o. 1N an$ " lo-

Pa#o%t P! +&%+s *a&$ -&ll " ! f%n$ $ -&tho%t &nt ! st an$ th *ol&c# -&ll t !+&nat . S%+ ass%! $ -&th acc!% $ "on%s s -&ll " *a&$ an$ th *ol&c# -&ll t !+&nat . O%tstan$&n) *a#o%ts -&ll " *a&$ as on l%+*s%+ an$ th *ol&c# -&ll t !+&nat .

G4 # a!s

I+*o!tant $ ta&ls of Ba?a? All&an8 '2h&l$Ca&n, Plan

El&)&"&l&t# 2on$&t&ons M&n&+%+ a) of th *ol&c#hol$ ! Ma6&+%+ a) of *ol&c#hol$ ! M&n&+%+ a) of ch&l$ Ma6&+%+ a) of ch&l$ M&n&+%+ P! +&%+ Pa#+ nt T !+ Ma6&+%+ P! +&%+ Pa#+ nt T !+

2h&l$Ca&n

G1

an$ 2h&l$Ca&n

G4

an$

2h&l$Ca&n G1 Pl%s G0 J0 0 1A J 1N

2h&l$Ca&n G4 Pl%s G0 J0 0 1A J 1N

Ma6&+%+ Pol&c# t !+ Ma6&+%+ a) of ch&l$ at +at%!&t# M&n&+%+ S%+ Ass%! $ Ma6&+%+ S%+ Ass%! $ M&n&+%+ P! +&%+

G1 l ss a) at nt!# of G4 l ss a) at nt!# of LA 92h&l$: G1 Rs. 100000 Rs. J000000 M&n&+%+ P! +&%+ Rs. J000 fo! # a!l# +o$ , Rs. A,000 fo! half # a! +o$ , Rs. A,000 fo! 4%a!t !l# +o$ LA 92h&l$: G4 Rs. 100000 Rs. J000000

an$ Rs. L00 fo! +onthl# +o$ Th Pol&c# T !+ Q A) of *ol&c#hol$ ! sho%l$ not 6c $ L0 fo! all *lans. Pre"iu"s 1o! #o%! con. n& nc - ha. *!o.&$ $ 4 P! +&%+ Pa#+ nt Mo$ s that can " O a!l#, 7alf0# a!l#, T%a!t !l# an$ +onthl#. > also off ! a Monthl# P! +&%+ Pa#+ nt Mo$ %n$ ! sala!# $ $%ct&on sch + s. Surren#er > off ! #o% th cho&c of s%!! n$ !&n) th *ol&c# *!o.&$ $ th! f%ll # a!s *! +&%+s

ha. " n *a&$ 9T-o # a!s fo! *! +&%+ *a#+ nt t !+s of J an$ K # a!s:. Th )%a!ant $ +&n&+%+ s%!! n$ ! .al% &s A0R of all *! +&%+s *a&$ 6cl%$&n) th f&!st # a! *! +&%+ an$ 6cl%$&n) th *! +&%+s fo! P! +&%+ >a&. ! B n f&t an$ 1a+&l# Inco+ B n f&t an$ A$$&t&onal R&$ ! B n f&t &f o*t $ fo!. Th )%a!ant $ +&n&+%+ s%!! n$ ! .al% aft ! th *! +&%+ *a#+ nt t !+ -&ll " th $&sco%nt $ .al% of th o%tstan$&n) &nstall+ nt *a#+ nts $&sco%nt $ at 10R *.a. !at of &nt ! st. L$ans Loans a! not a.a&la"l -&th Ba?a? All&an8 '2h&l$Ca&n, Plan 1; #a(s FreeL$$* Peri$#3 >&th&n 1J $a#s f!o+ th $at of ! c &*t of th *ol&c#, #o% ha. th o*t&on to ! .& - th t !+s an$ con$&t&ons an$ ! t%!n th *ol&c#, &f #o% $&sa)! con$&t&ons, stat&n) th ! asons fo! #o%! o"? ct&ons. Oo% -&ll " on co. ! an$ th E6cl%s&ons P!oh&"&t&on of R "at < S ct&on 41 of th Ins%!anc Act, 1IAN stat s< to an# of th t !+s 5 nt&tl $ to a ! f%n$ of th

*! +&%+ *a&$, s%"? ct onl# to a $ $%ct&on of a *!o*o!t&onat !&s( *! +&%+ fo! th * !&o$ 6* ns s &nc%!! $ on + $&cal 6a+&nat&on an$ sta+* $%t# cha!) s.

1)

No * !son shall allo- o! off ! to allo-, &th ! $&! ctl# o! &n$&! ctl#, as an

&n$%c + nt to an# * !son to ta( o%t o! ! n - o! cont&n% an &ns%!anc &n ! s* ct of an# (&n$ of !&s( ! lat&n) to l&. s o! *!o* !t# &n In$&a, an# ! "at of th -hol o! *a!t of th co++&ss&on *a#a"l o! an# ! "at of th *! +&%+ sho-n on th *ol&c#, no! shall an# * !son ta(&n) o%t o! ! n -&n) o! cont&n%&n) a *ol&c# acc *t an# ! "at , 6c *t s%ch ! "at as +a# " allo- $ &n acco!$anc -&th th *%"l&sh $ *!os* ct%s s o! ta"l s of th &ns%! !. An# * !son +a(&n) $ fa%lt &n co+*l#&n) -&th th *!o.&s&ons of th&s s ct&on shall " *%n&sha"l -&th f&n -h&ch +a# 6t n$ to f&. h%n$! $ !%* s.

IN7EST GAINJ PLAN Ba?a? All&an8 In. stCa&n &s a s* c&all# $ s&)n $ *lan that off !s a %n&4% co+"&nat&on of " n f&ts to h l* #o% $ . lo* a so%n$ f&nanc&al *o!tfol&o fo! #o%! fa+&l#. A+on) th +an# %n&4% " n f&ts, th +ost s&)n&f&cant &s th 1a+&l# Inco+ B n f&t 91IB: that s%sta&ns th fa+&l# "# co+* nsat&n) th loss of &nco+ $% to $ ath o! * !+an nt $&sa"&l&t#. Th&s &s a on 0sto* sho* sol%t&on that can ( * #o% an$ #o%! fa+&l# f&nanc&all# *!ot ct $ at t&+ s -h n #o% n $ &t +ost. In a f&nanc&al -o!l$ -h ! cho&c s can $!&. #o% c!a8#, #o%! s a!ch fo! th * !f ct l&f &ns%!anc *lan sto*s h ! . Ba?a? All&an8 In. stCa&n Econo+#< Th "as&c *ac(a) Ba?a? All&an8 In. stCa&n Col$< >&th $o%"l *!ot ct&on Ba?a? All&an8 In. stCa&n 3&a+on$< >&th t!&*l *!ot ct&on Ba?a? All&an8 In. stCa&n Plat&n%+< >&th 4%a$!%*l *!ot ct&on All th s *ac(a) s *a!t&c&*at &n th *!of&ts of th co+*an# "# -a# of "on%s s, an$ th ! fo! , )!o- -&th t&+ . Th Ult&+at P!ot ct&on 0 1o! Oo%! Lo. $ On s Oo% can s l ct th %n&4% 1a+&l# Inco+ B n f&t f!o+ Ba?a? All&an8 that ns%! s total f&nanc&al *!ot ct&on fo! #o%! lo. $ on s. In cas of $ ath o! acc&$ ntal total * !+an nt $&sa"&l&t#, a )%a!ant $ +onthl# &nco+ of 1R of th s%+ ass%! $

91GR * ! ann%+: &s *a&$ t&ll th

n$ of th *ol&c# t !+ o! at l ast fo! a * !&o$ of 10 # a!s,

-h&ch . ! &s h&)h !. Mo! o. !, all f%t%! *! +&%+s a! -a&. $. A$$&t&onal P!ot ct&on fo! #o% an$ #o%! fa+&l#.

Oo% ha. th o*t&on to a$$ th follo-&n) a$$&t&onal " n f&ts, *!o.&$&n) total *!ot ct&on a)a&nst %nc !ta&nt& s. a:1a+&l# Inco+ B n f&t 91IB: 0 as al! a$# $ sc!&" $. ": 2o+*! h ns&. Acc&$ nt P!ot ct&on

Th&s " n f&t *!o.&$ s co+*! h ns&. co. ! &n cas of an acc&$ nt. It co+*!&s s of< Acc&$ ntal 3 ath B n f&t Acc&$ nts a! al-a#s s%$$ n an$ so+ t&+ s fatal. Oo% can;t l ss n th +ot&onal

shoc(, "%t #o% can c !ta&nl# soft n th f&nanc&al on . Ba?a? All&an8 Acc&$ ntal 3 ath B n f&t )&. s th lo. $ on s so+ th&n) to sta!t -&th aft ! th * !+an nt loss of &nco+ "# *a#&n) an a+o%nt 4%al to th S%+ Ass%! $. 9s%"? ct to a +a6&+%+ of Rs. J0,00,000/0 %n$ ! all *ol&c& s -&th Ba?a? All&an8 ta( n to) th !:. Acc&$ ntal P !+an nt Total/Pa!t&al 3&sa"&l&t# B n f&t Acc&$ nts a! %n*! $&cta"l , an$ so a! th cons 4% nc s. Th # +a# l a$ to a $&sa"&l&t# 0 *a!t&al o! total. Th&s B n f&t *!o.&$ s a f&nanc&al c%sh&on a)a&nst s%ch +&sfo!t%n s. Oo% -&ll ) t J0R of th S%+ Ass%! $ &n cas of *a!t&al $&sa"&l&t# an$ 100R &n cas of total $&sa"&l&t#. 9s%"? ct to a +a6&+%+ of Rs. GJ,00,000/0 fo! *a!t&al an$ Rs. J0,00,000/0 fo! total $&sa"&l&t# %n$ ! all *ol&c& s -&th Ba?a? All&an8 ta( n to) th !:. >a&. ! of P! +&%+ B n f&t An acc&$ nt +a# l a$ to * !+an nt total $&sa"&l&t#, l&+&t&n) on ;s a"&l&t# to a!n. Ba?a? All&an8 >a&. ! of P! +&%+ " n f&t &s a h l*&n) han$ -h n on n $s &t +ost. It -a&. s off all f%t%! *! +&%+s -h&l ( *&n) th .al%a"l l&f &ns%!anc co. ! al&. , th%s na"l&n) #o% to l&. %* to #o%! co++&t+ nts. c:2!&t&cal Illn ss B n f&t 92I: So+ &lln ss s a! c!&t&cal. Th # not onl# alt ! on ;s l&f ;s *att !n "%t also ! s%lt &n a f&nanc&al $!a&n. Ba?a? All&an8 2!&t&cal Illn ss B n f&t soft ns th &+*act on th fa+&l# "# *a#&n) o%t th 2!&t&cal Illn ss B n f&t %n$ ! th *lan &++ $&at l#, -h&l oth ! *ol&c# " n f&ts cont&n% 9 6cl%$&n) 7os*&tal 2ash B n f&t:. > co. ! 11 2!&t&cal

Illn ss s. Oo% ha. th fl 6&"&l&t# of choos&n) 2!&t&cal Illn ss co. ! %* to th "as&c S%+ Ass%! $ s l ct $ "# #o% 9M&n&+%+ Rs. J0,000:. $: Th 7os*&tal 2ash B n f&t 972: -o!!# of s ttl&n) hos*&tal "&lls 9!oo+ cha!) s: a$$s to th t!a%+a of

hos*&tal&sat&on. Ba?a? All&an8 7os*&tal 2ash B n f&t ! $%c s th&s f&nanc&al "%!$ n an$ h l*s ! co. !# -&th * ac of +&n$. : Mah&laCa&n R&$ ! B n f&t P!o.&$ s *!ot ct&on a)a&nst !&s(s s* c&f&c to -o+ n. 9R f ! Mah&laCa&n "!och%! fo! $ ta&ls:. 1l 6&"&l&t# &n 2o. !a) At Ba?a? All&an8, - " l& . &n off !&n) " n f&ts an$ not ?%st *!o$%cts. > ! al&s that #o% a! %n&4% an$ #o%! n $ fo! &ns%!anc .a!# -&th t&+ . > th ! fo! off ! #o% th fl 6&"&l&t# of &ncl%s&on of co. !a) o! 6cl%s&on of co. !a) at ach *ol&c# ann&. !sa!#, s%"? ct to con$&t&ons ! lat&n) to s%ch &ncl%s&ons an$ 6cl%s&ons. '2o+*! h ns&. Acc&$ nt P!ot ct&on, can " &ncl%$ $ an$ 6cl%$ $ at ach *ol&c# ann&. !sa!#. 1a+&l# Inco+ B n f&t, Mah&laCa&n R&$ ! B n f&t, 2!&t&cal Illn ss B n f&t an$ 7os*&tal 2ash B n f&t can " ta( n at &nc *t&on onl#. Mah&laCa&n R&$ ! B n f&t, 2I 5 72 can " ! $%c $ o! 6cl%$ $ s%"s 4% ntl# at an# *ol&c# ann&. !sa!#. Onc ! $%c $ o! 6cl%$ $, th # cannot " &nc! as $ o! &ncl%$ $ s%"s 4% ntl#. Inc! as &n !&s( co. !a) E. !# a$$ $ ! s*ons&"&l&t# &n #o%! l&f calls fo! &nc! as &n #o%! !&s( co. !. > *!o.&$ #o% th o*t&on to &nc! as co. !a) %*to J0R of th "as&c S%+ Ass%! $ on ach of th follo-&n) ha**# +o+ nts &n #o%! l&f U #o%! +a!!&a) U th "&!th of #o%! f&!st ch&l$ U th "&!th of #o%! s con$ ch&l$ Th&s a$$&t&onal co. !a) &s not s%"? ct to %n$ !-!&t&n)

I+*o!tant $ ta&ls of th 'Ba?a? All&an8 In. stCa&n, Plan. 2on$&t&ons In. st Ca&n Econo+# In. st Ca&n Col$ / 3&a+on$ / Plat&n%+ M&n&+%+ A) at Ent!# 0 9R&s( 2o++ nc s at An# 1N a$$&t&onal " n f&t

a) L: Ma6&+%+ A) at Ent!# KJ J0 Ma6&+%+ A) at Mat%!&t# L0 L0 M&n&+%+ T !+ J # a!s Ma6&+%+ T !+ 40 # a!s M&n&+%+ S%+ Ass%! $ Rs. J0000 Ma6&+%+ S%+ Ass%! $ No L&+&t M&n&+%+ P! +&%+S Rs. J000 fo! O a!l#, Rs. GJ00 fo! 7alf O a!l#, Rs. P! +&%+ Pa#+ nt t !+ 1GJ0 fo! 4%a!t !l#, an$ Rs. L00 fo! +onthl#. E4%al to th *ol&c# t !+ o! l&+&t $ as * ! th ta"l )&. n

Mo! .al% fo! +on # 0 o%! att!act&. 7&)h S%+ Ass%! $ R "at Ba?a? All&an8 off !s an att!act&. *! +&%+ $&sco%nt st!%ct%! , -h ! #o% can ha. a $&sco%nt of at l ast Rs. N4S on th ann%al *! +&%+ fo! . !# a$$&t&onal Rs. 10,000 S%+ Ass%! $ *%!chas $ o. ! an$ a"o. th +&n&+%+ S%+ Ass%! $ of Rs. J0,000. 1o! 6a+*l , as * ! ta"%la! *! +&%+ !at s %n$ ! In. st Ca&n Econo+#, th ann%al *! +&%+ fo! a A0 # a! ol$ +al fo! a A0 # a! *ol&c# of Rs. J la(h S%+ Ass%! $ co+ s to Rs.

1K,0J0/0 " fo! th 7&)h S%+ Ass%! $ R "at . Aft ! th h&)h s%+ ass%! $ ! "at , th *! +&%+ &s Rs. 1G,GL0/0 onl#. 9S1o! sho!t ! *! +&%+ *a#+ nt t !+s, th $&sco%nt &s . n h&)h ! 0 Rs. G00 fo! th G # a! t !+, Rs. 1J0 fo! A # a! t !+ an$ Rs. 100 fo! J an$ L # a! t !+s: L&+&t $ P! +&%+ Pa#+ nt T !+s 0 1o! #o%! 2on. n& nc Oo% $o not ha. to *a# *! +&%+s fo! th f%ll t !+ of th *ol&c#. > *!o.&$ #o% -&th a !an) of l&+&t $ *! +&%+ *a#+ nt t !+s fo! #o% to f&n&sh o"l&)at&ons as fast as *oss&"l an$ n?o# th " n f&ts of l&f co. ! -&tho%t an# -o!!# th ! aft !. Th ! -&ll " an o*t&on to s l ct l&+&t $ *! +&%+ *a#+ nt t !+s as )&. n " lo-<

Pol&c# J0I T !+ 10014 1J01I G00G4 GJ

P! +&%+ G A a.a&la"l G G G 5G A A A A

Pa#+ nt J J J J L L L

T !+s

10 10 10 1G 1G

a"o. A$.anta) >o+ n Th ! -&ll " a *! +&%+ $&sco%nt fo! f +al *! +&%+ *a#a"l -&ll " *ol&c#hol$ ! fo! th "as *ol&c# onl#. Ta6 B n f&ts as * ! c%!! nt ta6 la-s P! +&%+s *a&$ a! l&)&"l fo! Ta6 E6 +*t&on %n$ ! S ct&on N02 of th Inco+ Ta6 Act. %n$ ! S ct&on 10910:3 of th Inco+ Ta6 Act. *ol&c#hol$ !s &n th *ac(a) . Bas&c

4%&.al nt to th *! +&%+ fo! a t-o0# a! #o%n) ! +al

Mat%!&t# an$ $ ath *!oc $s a! Ta6 1!

Th *! +&%+s fo! th 2!&t&cal Illn ss B n f&t an$ th 7os*&tal 2ash B n f&t -&ll " l&)&"l fo! Ta6 E6 +*t&on %n$ ! S ct&on N03 of th Inco+ Ta6 Act. S%!! n$ !

>h&l - $o not S%!! n$ ! Val% nco%!a) aft ! # a! s%!!#n$ ! of a 1 G0A a!s

C%a!ant $ S%!! n$ ! Val%

f!o+ K0R of th *! +&%+s 6cl%$&n) *! +&%+s fo! a$$&t&onal " n f&ts an$ 6t!a *! +&%+s. 6cl%$&n) f&!st # a!

co++ nc + nt J0K # a!s

G f%ll # a!s *! +&%+ A0R of *! +&%+s *a#+ nt *! +&%+ an$ th

*! +&%+ fo! a$$&t&onal

L an$ a"o.

" n f&ts an$ 6t!a *! +&%+s. A f%ll # a!s *! +&%+ A0R of *! +&%+s 6cl%$&n) th f&!st # a! *a#+ nt *! +&%+ an$ th *! +&%+ fo! a$$&t&onal " n f&ts an$ th 6t!a *! +&%+s.

1%n$ Acc ss 0 Loans Oo% can a.a&l of loans %n$ ! #o%! *ol&c# *!o.&$ $ th *ol&c# has ac4%&! $ a s%!! n$ ! .al% . Th loan a+o%nt shall " -&th&n I0R of th s%!! n$ ! .al% . 2han) of Occ%*at&on On chan) +o$&f& $. of occ%*at&on, $ * n$&n) %*on th nat%! of th n - occ%*at&on, th

*! +&%+s an$ " n f&t -&th ! s* ct to th 2!&t&cal Illn ss an$ 7os*&tal 2ash +a# "

At th "ac( of o%! +&n$s - a! oft n na)) $ "# c !ta&n f a!s, th f a!s of an %nc !ta&n f%t%! , th &ns c%!&t# of not " &n) a"l to *!o.&$ a$ 4%at l# fo! o%! lo. $ on s, th f a! of not " &n) a"l to sa. no%)h. L&f Ins%!anc &s th onl# co+*l t ans- ! to th s f a!s. It &s l&f &ns%!anc that *!o.&$ s #o% -&th th s c%!&t# of a f&nanc&al saf t# n t an$ na"l s #o% to *lan fo! %n*! $&cta"l a$. !s&t& s. 7a**&n ss oft n sn a(s &n th!o%)h a $oo! #o% $&$n,t (no- #o% l ft o* n. L t l&f &ns%!anc " that $oo! fo! #o%. CAS5GAIN PLAN Oo%! n $s fo! &ns%!anc *!ot ct&on -&ll .a!# at $&ff ! nt sta) s of l&f . So+ t&+ s, #o% +a# n $ to ! l as a *a!t of #o%! sa.&n)s f!o+ &ns%!anc co++&t+ nts an$ %t&l&s &t fo! oth ! *! ss&n) n $s. Th Ba?a? All&an8 2ashCa&n &s &$ al fo! thos -ho -ant to ! a* an$ n?o# th " n f&ts of th &! l&f &ns%!anc *ol&c# at ! )%la! &nt !.als $%!&n) th &! l&f t&+ . Ba?a? All&an8 2ashCa&n &s a s* c&all# $ s&)n $ *lan that off !s a host of a$$&t&onal !&$ ! " n f&ts #o% +a# choos to $ . lo* a so%n$ f&nanc&al *o!tfol&o fo! #o%! fa+&l#. A+on) th +an# %n&4% " n f&ts, th +ost s&)n&f&cant &s th 1a+&l# Inco+ B n f&t 91IB: that s%sta&ns th fa+&l# "# co+* nsat&n) th loss of ! )%la! &nco+ $% to $ ath o! * !+an nt $&sa"&l&t#. U Ba?a? All&an8 2ashCa&n Econo+# < U Ba?a? All&an8 2ashCa&n Col$ < U Ba?a? All&an8 2ashCa&n 3&a+on$ < U Ba?a? All&an8 2ashCa&n Plat&n%+ < Th "as&c *ac(a) >&th $o%"l *!ot ct&on >&th t!&*l *!ot ct&on >&th 4%a$!%*l *!ot ct&on

7o- $o s Ba a All&an8 2ashCa&n -o!(E Th&s *lan *a#s o%t a )%a!ant $ a+o%nt on s%!.&.al at th n$ of . !# 1/Jth of th

*ol&c# t !+ s l ct $. A total of LJR of th S%+ Ass%! $ &s *a&$ o%t &n th f&!st 4 2ash B n f&ts. On +at%!&t#, J0R of th S%+ Ass%! $ &s *a&$ alon) -&th acc!% $ "on%s s. 7 nc th Total 2ash/S%!.&.al B n f&t $&st!&"%t $ %n$ ! th&s *lan co+ s to +o! than 100R of th S%+ Ass%! $ 0 &n fact 1GJR of th S%+ Ass%! $.

1st

2ash Gn$

2ash A!$

2ash 4th

2ash On Mat%!&t#

B n f&t

B n f&t

B n f&t

B n f&t

10R S%+ Ass%! $

of 1JR S%+ Ass%! $

of GJR S%+ Ass%! $

of GJR S%+ Ass%! $

of J0R of S%+ Ass%! $ Q Acc!% $ Bon%s s

A Un&fo!+ L&f 2o. ! B s&$ s )&.&n) #o% ! )%la! 2ash B n f&ts, th&s *lan ta( s ca! of #o%! l&f &ns%!anc n $s also. On $ ath $%!&n) th t !+ of *ol&c#, th follo-&n) -o%l$ " *a&$ &!! s* ct&. of th 2ash B n f&ts al! a$# *a&$< U Ba?a? All&an8 2ashCa&n Econo+# U Ba?a? All&an8 2ashCa&n Col$ U Ba?a? All&an8 2ashCa&n 3&a+on$ U Ba?a? All&an8 2ashCa&n Plat&n%+ 2ho&c of T !+s K *&n) #o%! con. n& nc &n +&n$, - off ! #o% th -&$ st !an) of t !+s< 1J, G0, GJ an$ A0 # a!s. Th a.a&la"&l&t# of 2ash B n f&ts -&ll " as %n$ !< No. of # a!s at th T !+ 1J G0 GJ A0 B n f&t A 4 J K n$ of -h&ch 2ash B n f&t B co+ s 3% B n f&t K N 10 1G B n f&t I 1G 1J 1N B n f&t 1G 1K G0 G4 B n f&t 1J G0 GJ A0 < S%+ Ass%! $ Q Bon%s s < T!&*l S%+ Ass%! $ Q Bon%s s < T%a$!%*l S%+ Ass%! $ Q Bon%s s

< 3o%"l S%+ Ass%! $ Q Bon%s s

1st 2ash Gn$ 2ash A!$ 2ash 4th 2ash Mat%!&t#

A$$&t&onal P!ot ct&on fo! #o% an$ #o%! fa+&l#

Oo% ha. th o*t&on to a$$ th follo-&n) a$$&t&onal !&$ ! " n f&ts, *!o.&$&n) total *!ot ct&on a)a&nst %nc !ta&nt& s. aD Ones Oo% can s l ct th %n&4% 1a+&l# Inco+ B n f&t f!o+ Ba?a? All&an8 that ns%! s total f&nanc&al *!ot ct&on fo! #o%! lo. $ on s. In cas of $ ath o! acc&$ ntal total * !+an nt $&sa"&l&t#, a )%a!ant $ +onthl# &nco+ of 1R of th s%+ ass%! $ 91GR * ! ann%+: &s *a&$ t&ll th n$ of th *ol&c# t !+ o! at l ast fo! a * !&o$ of 10 # a!s, -h&ch . ! &s h&)h !, s%"? ct to fa+&l# &nco+ " n f&t not !%nn&n) " #on$ th calc%lat $ a) of L0 #!s of th *ol&c# hol$ !. Mo! o. !, all f%t%! *! +&%+s a! -a&. $. !D C$"+re)ensi'e A i#ent Pr$te ti$n BCAPD Fa"il( In $"e Benefit BFIBD 2 T)e &lti"ate Pr$te ti$n 2 F$r 6$ur L$'e#

Th&s " n f&t *!o.&$ s co+*! h ns&. co. ! &n cas of an acc&$ nt. It co+*!&s s of< A i#ental Deat) Benefit Acc&$ nts a! al-a#s s%$$ n an$ so+ t&+ s fatal. Oo% can,t l ss n th +ot&onal shoc(,

"%t #o% can c !ta&nl# soft n th f&nanc&al on . Ba?a? All&an8 Acc&$ ntal 3 ath B n f&t )&. s th lo. $ on s so+ th&n) to sta!t -&th aft ! th * !+an nt loss of&nco+ "# *a#&n) an a+o%nt 4%al to th S%+ Ass%! $. 9s%"? ct to a +a6&+%+ of Rs. J0,00,000/0 %n$ ! all *ol&c& s -&th Ba?a? All&an8 ta( n to) th !.: A i#ental Per"anent T$talCPartial Disa!ilit( Benefit Acc&$ nts a! %n*! $&cta"l , an$ so a! th cons 4% nc s. Th # +a# l a$ to a $&sa"&l&t# 0 *a!t&al o! total. Th&s B n f&t *!o.&$ s a f&nanc&al c%sh&on a)a&nst s%ch +&sfo!t%n s. Oo% -&ll ) t J0R of th S%+ Ass%! $ &n cas of *a!t&al $&sa"&l&t# an$ 100R &n cas of total $&sa"&l&t#. 9s%"? ct to a +a6&+%+ of Rs. GJ,00,000/0 fo! *a!t&al an$ Rs. J0,00,000/0 fo! total $&sa"&l&t# %n$ ! all *ol&c& s -&th Ba?a? All&an8 ta( n to) th !.: 9ai'er $f Pre"iu" Benefit An acc&$ nt +a# l a$ to * !+an nt total $&sa"&l&t#, l&+&t&n) on ,s a"&l&t# to a!n. Ba?a? All&an8 >a&. ! of P! +&%+ " n f&t &s a h l*&n) han$ -h n on n $s &t +ost. It -a&. s

off all f%t%! *! +&%+s -h&l ( *&n) th .al%a"l l&f &ns%!anc co. ! al&. , th%s na"l&n) #o% to l&. %* to #o%! co++&t+ nts. D Criti al Illness Benefit BCID

So+ &lln ss s a! c!&t&cal. Th # not onl# alt ! on ,s l&f ,s *att !n "%t also ! s%lt &n a f&nanc&al $!a&n. Ba?a? All&an8 2!&t&cal Illn ss B n f&t soft ns th &+*act on th fa+&l# "# *a#&n) o%t th 2!&t&cal Illn ss B n f&t %n$ ! th *lan &++ $&at l#, -h&l oth ! *ol&c# " n f&ts cont&n% 9 6cl%$&n) 7os*&tal 2ash B n f&t: -&th th *! +&%+s " &n) ! $%c $ acco!$&n)l#. > co. ! 11 c!&t&cal &lln ss s < 1&!st 7 a!t Attac(, 2o!ona!# A!t !# 3&s as ! 4%&!&n) S%!) !#, St!o( , 2anc !, K&$n # 1a&l%! , Ma?o! O!)an T!ans*lantat&on, M%lt&*l Scl !os&s, Ao!ta C!aft S%!) !#, P!&+a!# P%l+ona!# A!t !&al 7#* !t ns&on, Al8h &+ !,s 3&s as an$ Pa!al#s&s. Oo% ha. th fl 6&"&l&t# of choos&n) 2!&t&cal Illn ss co. ! %* to th "as&c S%+ Ass%! $ s l ct $ "# #o% 9M&n&+%+ Rs.J0,000:. #D 5$s+ital Cas) Benefit B5CD

Th -o!!# of s ttl&n) hos*&tal "&lls 9!oo+ cha!) s: a$$s to th t!a%+a of hos*&tal&8at&on. Ba?a? All&an8 7os*&tal 2ash B n f&t ! $%c s th&s f&nanc&al "%!$ n an$ h l*s ! co. !# -&th * ac of +&n$. eD Ma)ilaGain Ri#er Benefit

P!o.&$ s *!ot ct&on a)a&nst !&s(s s* c&f&c to -o+ n. 9R f ! Mah&laCa&n "!och%! fo! $ ta&ls: FleKi!ilit( in C$'era.e At Ba?a? All&an8, - " l& . &n off !&n) sol%t&ons an$ not ?%st *!o$%cts. > ! al&8 that #o% a! %n&4% an$ #o%! n $s fo! &ns%!anc .a!# -&th t&+ . > th ! fo! off ! #o% th fl 6&"&l&t# of &ncl%s&on o! 6cl%s&on of co. !a) at ach *ol&c# ann&. !sa!#, s%"? ct to con$&t&ons ! lat&n) to s%ch &ncl%s&ons an$ 6cl%s&on. Oo% ha. th fl 6&"&l&t# to chan) #o%! *ac(a) an$ +o. to a *ac(a) that *!o.&$ s lo- ! *!ot ct&on at ach *ol&c# ann&. !sa!# 9*! +&%+s -o%l$ " a$?%st $ acco!$&n)l#:. '2o+*! h ns&. Acc&$ nt P!ot ct&on, can " &ncl%$ $ o! 6cl%$ $ at ach *ol&c# ann&. !sa!#. 1a+&l# Inco+ B n f&t, Mah&laCa&n R&$ ! B n f&t, 2!&t&cal Illn ss B n f&t

an$ 7os*&tal 2ash B n f&t can " ta( n at &nc *t&on onl#. 1IB, Mah&laCa&n, 2I 5 72 can " ! $%c $ o! 6cl%$ $ s%"s 4% ntl# at an# *ol&c# ann&. !sa!#. Onc ! $%c $ o! 6cl%$ $, th # cannot " &nc! as $ o! &ncl%$ $ s%"s 4% ntl#.

In rease in ris* $'era.e E. !# a$$ $ ! s*ons&"&l&t# &n #o%! l&f calls fo! &nc! as &n #o%! !&s( co. !. > *!o.&$ #o% th o*t&on to &nc! as co. !a) %*to J0R of th "as&c S%+ Ass%! $ on ach of th follo-&n) ha**# +o+ nts &n #o%! l&f < UOo%! +a!!&a) UTh "&!th of #o%! f&!st ch&l$ UTh "&!th of #o%! s con$ ch&l$

Mo! .al% fo! +on # 0 o%! att!act&. 7&)h S%+ Ass%! $ R "at

Ba?a? All&an8 off !s an att!act&. *! +&%+ $&sco%nt st!%ct%! , -h ! #o% can ha. a $&sco%nt of Rs. IK fo! . !# Rs. 10000 of S%+ Ass%! $ *%!chas $ o. ! an$ a"o. th +&n&+%+ S%+ Ass%! $ of Rs. J0000. 1o! 6a+*l , as * ! ta"%la! *! +&%+ !at s, th ann%al *! +&%+ fo! a A0 # a! ol$ +al fo! a A0 # a! *ol&c# of Rs. J la(h S%+ Ass%! $ fo! 2ashCa&n Econo+# co+ s to Rs. GK,AG0/0 " fo! th 7&)h S%+ Ass%! $ R "at . Aft ! th h&)h s%+ ass%! $ ! "at , th *! +&%+ &s Rs. GG,000/0 onl#. A#'anta.e 9$"en Th ! -&ll " a *! +&%+ $&sco%nt fo! f +al *ol&c#hol$ !s &n th *ac(a) . Bas&c *! +&%+ *a#a"l -&ll " 4%&.al nt to th *! +&%+ fo! a t-o0# a! #o%n) ! +al *ol&c#hol$ ! fo! th "as *ol&c# onl#. TaK Benefits P! +&%+s *a&$ a! l&)&"l fo! Ta6 E6 +*t&on %n$ ! S ct&on N02 of th Inco+ Ta6 Act. %n$ ! S ct&on

Th * !&o$&c 2ash " n f&ts, +at%!&t# an$ $ ath *!oc $s a! Ta6 1! 7os*&tal 2ash B n f&t -&ll " Inco+ Ta6 Act. L$ans Loans a! not a.a&la"l %n$ ! th&s *lan. C)an.e $f O u+ati$n On chan) +o$&f& $. of occ%*at&on, $ * n$&n) %*on th nat%! of th

10910:3 of th Inco+ Ta6 Act. Th *! +&%+s fo! th 2!&t&cal Illn ss B n f&t an$ th l&)&"l fo! Ta6 E6 +*t&on %n$ ! S ct&on N03 of th

n - occ%*at&on, th

*! +&%+s an$ " n f&t -&th ! s* ct to th 2!&t&cal Illn ss an$ 7os*&tal 2ash +a# "

&NIT2LINKED INS&RANCE PLANs 9)at are &LIPsL A %n&t l&n( $ &ns%!anc *ol&c# &s on &n -h&ch th c%sto+ ! &s *!o.&$ $ -&th a l&f &ns%!anc co. ! an$ th *! +&%+ *a&$ &s &n. st $ &n &th ! $ "t o! 4%&t# *!o$%cts o! a co+"&nat&on of th t-o. In oth ! -o!$s, &t na"l s th "%# ! to s c%! so+ *!ot ct&on fo! h&s fa+&l# &n th . nt of h&s %nt&+ l# $ ath an$ at th sa+ t&+ *!o.&$ s h&+ an . nt of th &ns%! $ * !son,s o**o!t%n&t# to a!n a ! t%!n on h&s *! +&%+ *a&$. In th

$ ath, h&s no+&n s -o%l$ no!+all# ! c &. an a+o%nt that &s th h&)h ! of th s%+ ass%! $ 9&ns%!anc co. !: o! th .al% of th %n&ts 9&n. st+ nts:. 7o- . !, th ! a! so+ sch + s &n -h&ch th *ol&c# hol$ ! ! c &. s th s%+ ass%! $ *l%s th .al% of th &n. st+ nts. E. !# &ns%!anc co+*an# has fo%! to f&. ULIPs -&th .a!#&n) &n. st+ nt o*t&ons, cha!) s an$ con$&t&ons fo! -&th$!a-als an$ s%!! n$ !. Mo! o. !, sch + s ha. " n ta&lo! $ to s%&t $&ff ! nt c%sto+ ! *!of&l s an$, &n that s ns , off ! )! at $ al of cho&c . Th a$.anta) of ULIP &s s&nc th &n. st+ nts a! +a$ fo! lon) * !&o$s, th chanc s of a!n&n) a $ c nt ! t%!n a! h&)h. M%st as &n cas of +%t%al f%n$s, "%# !s -ho a! !&s( a. !s can "%# $ "t sch + s -h&l thos -ho ha. an a** t&t fo! !&s( can o*t fo! "alanc $ o! 4%&t# sch + s. 7o- . ! th cha!) s *a&$ &n th s sch + s &n t !+s of th nt!# loa$, a$+&n&st!at&. f s, %n$ !-!&t&n) f s, "%#&n) an$ s ll&n) cha!) s an$ ass t +ana) + nt cha!) s a! fa&!l# h&)h an$ .a!# f!o+ &ns%! ! &n th 4%ant%+ as also th +ann ! &n -h&ch th # a! cha!) $. TaK !enefits Th *! +&%+ *a&$ fo! ULIs a! P!oc $s f!o+ ULIPs a! ta6 f! Ke( features P! +&%+s *a&$ can " s&n)l , ! )%la! o! .a!&a"l . Th *a#+ nt * !&o$s too can " ! )%la! o! .a!&a"l . Th !&s( co. ! 9&ns%!anc co. !: can " &nc! as $ o! $ c! as $. As &n all &ns%!anc *ol&c& s, th !&s( cha!) 9+o!tal&t# !at : .a!& s -&th a) . 7o- . !, fo! an l&)&"l fo! ta6 ! "at s %n$ ! s ct&on N0 -h&ch allo-s a %n$ ! s ct&on 109103: %nl&( thos of +%t%al f%n$ +a6&+%+ of Rs. 1,00,000 *! +&%+s *a&$ fo! ta6a"l &nco+ " lo- Rs. N,J0,000 an$ -h&ch att!act sho!t t !+ ca*&tal )a&ns ta6.

&n$&.&$%al th

!&s( cha!) &s al-a#s "as $ on th a) of th *ol&c# hol$ ! &n th # a! of

co++ nc + nt of th *ol&c#. Th s cha!) s a! no!+all# $ $%ct $ on a +onthl# "as&s f!o+ th %n&t .al% . 1o! &nstanc , &f th ! &s an &nc! as &n th .al% of %n&ts $% to +a!( t con$&t&ons, th s%+ at !&s( 9s%+ ass%! $ l ss th .al% of &n. st+ nts: ! $%c s an$ so th cha!) s a! lo- !. Th +at%!&t# " n f&t &s not t#*&call# a f&6 $ a+o%nt an$ th +at%!&t# * !&o$ can " a$.anc $ 9 a!l# -&th$!a-al: o! 6t n$ $. In. st+ nts can " +a$ &n )&lt f%n$s 9)o. !n+ nt s c%!&t& s:, "alanc $ f%n$s 9*a!t $ "t, *a!t 4%&t#:, +on #0+a!( t f%n$sH )!o-th f%n$s 9 4%&t& s: o! "on$s 9co!*o!at "on$s:. Th *ol&c# hol$ ! can s-&tch " t- n sch + s 9fo! &nstanc , "alanc $ to $ "t o! )&lt to 4%&t#:. Th &n. st+ nt !&s( &s t!ansf !! $ to th *ol&c# hol$ !. Th +at%!&t# " n f&t &s th n t ass t .al% of th %n&ts. Th .al% -o%l$ " h&)h o! lo- $ * n$&n) on th +a!( t con$&t&ons $%!&n) th * !&o$ of th *ol&c# an$ th * !fo!+anc of th f%n$ +ana) !. Th%s th ! &s no ca*&tal *!ot ct&on on +at%!&t# %nl ss th sch + s* c&all# *!o.&$ s fo! &t. Th ! co%l$ " *ol&c& s that allo- th *ol&c# hol$ ! o! ! +a&n &n. st $ " #on$ th +at%!&t# * !&o$ &n th . nt of th +at%!&t# .al% not " &n) sat&sfacto!#. 9)at ($u M&ST as* ($ur a.ent First (ear )ar.es3 Us%all#, a +&n&+%+ of 1J * ! c nt. 7o- . !, h&)h *! +&%+s att!act lo- ! cha!) s an$ .&c . !sa. 2ha!) s can " as h&)h as L0 * ! c nt &f th sch + affo!$s a lot of fl 6&"&l&t#. S%"s 4% nt cha!) s< Us%all# lo- ! than f&!st0# a! cha!) s. 7o- . !, so+ &ns%! !s cha!) h&)h ! f s &n th &n&t&al # a!s an$ lo- ! th + s&)n&f&cantl# &n th s%"s 4% nt # a!s. A#"inistrati$n )ar.es< Th&s !an) s " t- n Rs 1J * ! +onth to Rs K0 * ! +onth an$ &s l .& $ "# canc llat&on of %n&ts an$ also $ * n$s on th nat%! of th sch + . Ris* )ar.es3 Th cha!) s a! "!oa$l# co+*a!a"l ac!oss &ns%! !s. Asset "ana.e"ent fees3 1%n$ +ana) + nt cha!) s .a!# f!o+ 0.K * ! c nt to 0.LJ * ! c nt fo! a +on # +a!( t f%n$, an$ a!o%n$ 1.J * ! c nt fo! an 4%&t#0o!& nt $ sch + . 1%n$ +ana) + nt 6* ns s an$ th "!o( !a) a! "%&lt &nto th $a&l# n t ass t .al% . S-it )in. )ar.es3 So+ &ns%! !s allo- fo%! f! +&n&+%+ a+o%nt. Oth !s allo- ?%st on f! s-&tch s &n . !# # a! "%t l&n( &t to a s-&tch &n ach # a! an$ cha!) RS 100 fo!

. !# s%"s 4% nt s-&tch. So+ &ns%! !s $on,t cha!) an#th&n).

T$+2u+s3 Us%all# att!acts 1 * ! c nt of th to*0%*s a+o%nt. To*0%* no!+all# )o s $&! ctl# &nto #o%! &n. st+ nt acco%nt 9%n&ts: %nl ss #o% s* c&f&call# as( fo! an &nc! as &n th !&s( co. !. Surren#er 'alue $f units3 Ins%! !s l .# c !ta&n cha!) s &f th *ol&c# &s s%!! n$ ! $ *! +at%! l#. Th&s l .# .a!& s " t- n &ns%! !s an$ co%l$ " a!o%n$ LJ * ! c nt &n th f&!st # a!, K0 * ! c nt &n th s con$ # a!, 40 * ! c nt &n th th&!$ # a! an$ n&l aft ! th fo%!th # a!. Fun# +erf$r"an e3 Oo% co%l$ ch c( o%t th * !fo!+anc of s&+&la! sch + 9"alanc $ -&th "alanc $H 4%&t# -&th 4%&t#: ac!oss &ns%!anc co+*an& s. Loo( at NAV * !fo!+anc o. ! a * !&o$ of at l ast t-o to th! &s no )%a!ant # a!s. Th&s can onl# )&. +*has&s &s #o% so+ &n$&cat&on a"o%t th c! $&"&l&t# of th f%n$ +ana) ! " ca%s *ast * !fo!+anc to f%t%! ! t%!ns, s* c&all# &n &ns%!anc *!o$%cts -h ! th on lon) t !+ * !fo!+anc 910 # a!s o! +o! :. S&nc &ns%!anc &s a *!o$%ct, -h&ch nta&ls lon)0t !+ co++&t+ nt on th *a!t of th &ns%! !, &t &s &+*o!tant not to )o onl# "# f at%! s o! "# th cost a$.anta) s of sch + s "%t "# th * !c nta) of th &ns%! ! as - ll. 2o+*a!&n) sch + s "as $ on costs &s a fa&!l# co+*l 6 6 !c&s . As a !%l , th h&)h ! th &n&t&al # a!s, 6* ns s th + lon) ! &t ta( s fo! th *ol&c# to o%t* !fo!+ &ts * !s -&th lo&n&t&al # a!s, costs an$ sl&)htl# h&)h ! s%"s 4% nt # a! 6* ns s. 5$- #$es &LIP -$r*sL Sa!a &s a th&!t#0# a! ol$ -ho -ants a *!o$%ct that -&ll )&. h&+ +a!( t0l&n( $ ! t%!ns as - ll as a l&f co. !. 7 -ants to &n. st Rs J0,000 a # a! fo! 10 # a!s &n an 4%&t#0"as $ sch + . Bas $ on th&s *! +&%+, th s%+ ass%! $ -o!(s o%t to Rs J,AG,000, th a+o%nt of *! +&%+ " &n) Rs J0,0AG. Bas $ on th c%!! nt NAV of th *lan that Sa!a choos s to &n. st &n, h &s allott $ %n&ts &n th sch + . Th n, %n&ts 4%&.al nt to th cha!) s a! $ $%ct $ f!o+ h&s *o!tfol&o. Th cha!) s &n th f&!st # a! &ncl%$ a 14 * ! c nt sal s cha!) , an a$+&n&st!at&on cha!) 9L * ! c nt fo! th f&!st Rs G0,000 an$ A * ! c nt fo! th ! +a&n&n) Rs A0,000: an$ %n$ !-!&t&n) cha!) s, -h&ch a! $ $%ct $ +onthl#. B s&$ s, +o!tal&t# cha!) s o! th cha!) s fo! th l&f co. ! a! also $ $%ct $. 1o! th ! +a&n&n) n&n # a!s a A.J * ! c nt sal s cha!) an$ an a$+&n&st!at&. cha!) of 4 * ! 6act

c nt 9fo! th f&!st Rs G0,000 an$ G * ! c nt fo! th ! +a&n&n) Rs A0,000: a! l .& $ &n a$$&t&on to +o!tal&t# cha!) s. 1%n$ +ana) + nt f of 1.J * ! c nt 9 4%&t#: an$ "!o( !a) a! also cha!) $. Th&s cost &s "%&lt &nto th calc%lat&on of n t ass t .al% . On +at%!&t# Vthat &s, aft ! 10 # a!s0 Sa!a -o%l$ ! c &. th s%+ ass%! $ of Rs J,AG,000 o! th +a!( t .al% of th %n&ts -h&ch . ! &s h&)h !. Ass%+&n) th )!o-th !at &n th +a!( t .al% of th %n&ts to " K * ! c nt * ! ann%+ Sa!a -o%l$ ! c &. Rs J,N1,J00H ass%+&n) th )!o-th !at &n th +a!( t .al% of th %n&ts to " 10 * ! c nt, Sa!a -o%l$ ! c &. Rs L,G4,400. In cas of Sa!a,s %nt&+ l# $ ath at th n$ of th n&nth # a!, h&s " n f&c&a!& s -o%l$ ! c &. th s%+ ass%! $ of Rs J,AG,000 o! th +a!( t .al% of th %n&ts -h&ch . ! &s h&)h !. Ass%+&n) th )!o-th !at &n +a!( t .al% of %n&ts &s K * ! c nt * ! ann%+, th .al% of &n. st+ nt -o%l$ " Rs J,10,G00. 7o- . !, h&s fa+&l# -&ll ) t Rs J,AG,000 as &t &s th s%+ ass%! $. Ass%+&n) a )!o-th !at of 1I * ! c nt * ! ann%+, th .al% of %n&ts at th &nit2lin*e# insuran e +lans2 T)e )$ne( an# t)e stin. Th no-. In. sto!s0 thos that $ *lo# $ f%n$s $&! ctl# o! th!o%)h th +%t%al f%n$s !o%t V ha. ha$ a !&ch ha!. st of hon #. Anoth ! class of &n. sto!s that has ! ason to s+&l &s th on that &n. st $ &n 4%&t#0o!& nt $ sch + s of %n&t0l&n( $ &ns%!anc *lans. Th s *lans na"l &n. sto!s t!ac( th * !fo!+anc of th &! n t ass t .al% s . !#$a#. >&th co+*an& s ha.&n) %n&t0l&n( $ *!o$%cts -ast&n) no t&+ $a&l& s a! *a! fo! th co%!s , &t &s not %nco++on to s s* ctac%la! ! t%!ns that s%ch *lans ha. $ l&. ! $. Th t +*tat&on to ) t ca!!& $ a-a# "# th h#* can " &!! s&st&"l , "%t no- &s th t&+ to to "!oa$cast acco+*l&sh+ nts, th a$. !t&s&n) "%s&n ss &s also a"%88. >h&l + nt&ons &n "%s&n ss hoa!$&n)s anno%nc&n) th 4%&t# +a!( t, -h n &t &s all a"%88, has th +a)&cal 4%al&t# of +o!*h&n) &nto a hon #co+". In. sto!s s-a!+ &t, l%! $ "# th *!os* ct of h&)h ! t%!ns. It &s no $&ff ! nt n$ of th n&nth # a! -o%l$ " Rs K,G1,I00. 7 nc , th " n f&c&a!& s -o%l$ ) t Rs K,G1,I00.

6 !c&s so+ $&! ct&ons. A loo( at ho- s%&ta"l th %n&t0l&n( $ *lans a! f!o+ an &ns%!anc * !s* ct&. , an$ -hat facto!s &n. sto!s n $ to cons&$ !. 5i.) returns an# suita!ilit( Th h&)h0$ c&" l a$. !t&s&n) ca+*a&)n +a# l a$ &n. sto!s to " l& . that th ! t%!ns ) n !at $ o. ! th *ast f - +onths a! s%sta&na"l . Noth&n) co%l$ " fa!th ! f!o+ th t!%th. To $!a- a *a!all l, s&+&la! a$. !t&s + nts - ! *%t o%t "# +%t%al f%n$s $%!&n) th h a$# $a#s of th +a!( t &n th +&$01II0s. 1o! &nstanc , ca+*a&)ns -&th s%ch *%nch l&n s as D100 * ! c nt ! t%!ns &n 10 +onthsF - ! co++on. In. sto!s -ho nt ! $ s%ch f%n$s - ! l ft h&)h an$ $!# -h n th +a!( t tan( $. Suita!ilit( $f $+ti$ns Un&t0l&n( $ &ns%!anc *lans %s%all# off ! th! sch + s< On o!& nt $ to-a!$s $ "t an$ +on #0+a!( t &nst!%+ nts, anoth ! -&th a t&lt to-a!$s 4%&t& s, an$ a th&!$ that s ( to ach& . a +&6 of &n. st&n) &n "oth 4%&t& s an$ $ "t. If on o*ts fo! th *lan that &n. sts *!&+a!&l# &n 4%&t#, th "%88&n) +a!( t co%l$ l a$ to -&n$fall ! t%!ns. 7o- . !, sho%l$ th "%88 $& $o-n, &n. sto!s co%l$ " l ft st%n). If on &n. sts &n a %n&t0l&n( $ * ns&on *lans a!l# on, sa# GJ, on can affo!$ to ta( th !&s( assoc&at $ -&th 4%&t& s, at l ast &n th *lan,s &n&t&al sta) . 7o- . !, as a**!oach s tJh ! t&! + nt th 4%ant%+ of ! t%!ns sho%l$ s%"o!$&nat $ to ca*&tal *! s !.at&on. At th&s sta) , &n. st&n) &n a *lan that has an 4%&t# t&lt +a# not " a )oo$ &$ a.

&LIPs Plans $ffere# !( SCB

N - Un&t Ca&n< An &n. st+ nt *lan that c! at s .al% fo! . !# !%*

#o% &n. st

It &s a %n&t l&n( $ ! )%la! *! +&%+ *lan. IKR of 1&!st O a!,s R )%la! P! +&%+ &s allocat $ to f%n$s &n th follo-&n) +ann !
o

Of th f&!st # a!,s R )%la! P! +&%+, 4JR &s allocat $ to 1%n$9s: &++ $&at l# J.1R of th 1&!st O a!,s R )%la! P! +&%+ -&ll " allocat $ to f%n$s . !# # a! sta!t&n) f!o+ 4th *ol&c# # a! t&ll th n$ of 1Ath *ol&c# # a! 9+a(&n) &t J1R: , *!o.&$ $ all $% R )%la! P! +&%+s ha. " n *a&$

A n - Ass t Allocat&on 1%n$ V A )oo$ o*t&on to &n. st &n that sh&fts #o%! f%n$s as * ! th o**o!t%n&t& s a.a&la"l 5 att!act&. n ss of th s cto!

Oo%n)ca! 5 Oo%n)ca! *l%s< It &s a %n&t l&n( $ ! )%la! *! +&%+ *lan s* c&all# $ s&)n $ to s c%! #o%! ch&l$,s f%t%!

It has an &n "%&lt >OP 9>a&. ! of *! +&%+: !&$ !. &. on $ ath of L&f ass%! $, th *ol&c# cont&n% s -&th *! +&%+s *a&$ &nto th *ol&c# "# th &ns%!anc co+*an# t&ll th n$ of t !+ ! c &. s th f%n$

S%+ Ass%! $ &s *a&$ on 3 ath an$ >OP &s t!&)) ! $. No+&n .al% at th n$ of th t !+

Lo#alt# %n&ts a! &nf%s $ &nto th *ol&c# f!o+ th Kth O a! on-a!$s as a R of th f%n$ .al%

SIGNIFICANCE OF T5E ST&D6

In th&s c%!! nt sc na!&o &ns%!anc s cto! &s )!o-&n) . !# !a*&$l#. Va!&o%s &ns%!anc co+*an& s nt ! &nto th +a!( t $% to -h&ch co+* t&t&on &s ! ach $ at &ts * a( l . l. Th%s . !# &ns%!anc co+*an# a$a*t $&ff ! nt0 $&ff ! nt st!at )& s fo! th &! s%!.&.al. B# th&s st%$# - -&ll " a"l to (no- a"o%t th sal s st!at )# of f& l$ fo!c of Ba?a? All&an8 Ins%!anc 2o+*an#. Also - -&ll " a"l to (no- a"o%t n - *!o)!a+s as - ll as th aft ! sal s *!o)!a+ of Ba?a? All&an8 L&f Ins%!anc 2o+*an#. Th&s st%$# also t lls a"o%t th *!oc ss of s ll&n) of &ns%!anc *ol&c& s "# th a) nts o! &n. st+ nt a$.&so!s of Ba?a? All&an8 l&f Ins%!anc 2o+*an#%

RE7IE9 OF LITERAT&RE

Currie an# Gru!er B1@@<D P! .&o%s -o!( on th 2%!!& ff cts of *%"l&c &ns%!anc on h alth o%tco+ s &ncl%$ s a *a* ! "# 6*ans&on an$ C!%" ! 91IIK:. Th # loo( $ at ho- t-o $&ff ! nt M $&ca&$

co. !&n) lo-0&nco+ *! )nant -o+ n aff ct $ th !at s of lo- "&!th - &)ht an$ &nfant +o!tal&t# !at s. Th # 1&n$ that th +o! na!!o-l# ta!) t $ 6*ans&on ha$ an ff ct on ! $%c&n) &nfant +o!tal&t# "# a"o%t N.JR. Th # st&+at that th&s ! $%ct&on &n &nfant +o!tal&t# ca+ at a cost of WN40,000 * ! l&f sa. $. On &nno.at&on th # $ . lo* $ -as to c! at an &nst!%+ ntal .a!&a"l to co!! ct th *!o"l + that th n%+" ! of -o+ n l&)&"l fo! th 6*ans&on $ * n$ $ on not ?%st stat of A000 -o+ n. Th&s s&+%lat $ f!act&on l&)&"&l&t# l&+&ts, "%t stat l&)&"l -as %s $ as an $ +o)!a*h&c an$ cono+&c con$&t&ons. Th # s&+%lat nat&onal sa+*l l )&slat&. l&)&"&l&t# &n ach stat %s&n) a

&nst!%+ nt fo! th n%+" ! of -o+ n l&)&"l &n ach stat . Th&s IV onl# $ * n$s on th n.&!on+ nt that c! at $ th )%&$ l&n s. 2%!!& an$ Tho+as 91IIJ: loo( at th ff cts that ha.&n) *%"l&c o! *!&.at &ns%!anc has on h alth ca! %t&l&8at&on. Th # f&n$ that th ! a! !ac&al $&ff ! nc s &n ho- -h&t s ! s*on$ to ha.&n) &ns%!anc . !s%s ho- "lac(s ! s*on$. Th # f&n$ that -h&t ch&l$! n co. ! $ "# &th ! fo!+ of &ns%!anc a! +o! l&( l# to .&s&t a $octo! -h n s&c(. >h&t ch&l$! n co. ! $ "# M $&ca&$ a! +o! l&( l# to ! c &. *! . nt&. ca! than -h&t ch&l$! n -&th *!&.at &ns%!anc o! no &ns%!anc . Th a%tho!s f&n$ that fo! "lac(s M $&ca&$ co. !a) has l ss ff ct on &nc! as&n) *! . nt&. ca! an$ no &nc! as &n h alth ca! %t&l&8at&on. Th # also f&n$ that *!&.at &ns%!anc co. !a) fo! "lac(s has no &nc! as $ ff ct of h alth ca! %t&l&8at&on o. ! no co. !a) . 2%!!& an$ C!%" ! 9Ma# 1IIK: loo(s at ho- th M $&ca&$ 6*ans&ons ff ct $ ch&l$ h alth loo(&n) at + as%! s s%ch as *!o"a"&l&t# of not ha.&n) a hos*&tal .&s&t &n th last # a! , th *!o"a"&l&t# of hos*&tal&8at&ons, an$ +o!tal&t#. Th # f&n$ that th hos*&tal .&s&t. Th W1.K. 6*ans&on of l&)&"&l&t# c%t &n half th *!o"a"&l&t# of not s &n) th $octo! &n th last # a!, -h&l $o%"l&n) th *!o"a"&l&t# of a 6*ans&on also $ c! as $ +o!tal&t# "# J.1R, -&th an a. !a) cost of

+&ll&on * ! l&f sa. $. Th # ha. a s+all s ct&on on s&t of t! at+ nt, "%t &t &s . !# s+all an$ +ostl#, ?%st tal(H th # $&$ !%n a f - ! )! ss&ons. Most *a* !s loo( not at h alth o%tco+ s, "%t h alth &n*%ts l&( hos*&tal&8at&on. Th on h alth o%tco+ *a* ! fo! S27IP -as Mo#c an$ Rac&n 9G00A:. Th # loo( at th ff ct that th +an$ato!# co. !a) of .acc&nat&ons ha$ on th l&( l&hoo$ of ch&l$! n " &n) %* to $at on .acc&nat&ons, an$ &f co. !a) chan) $ th n%+" ! ! c &.&n) all shots f!o+ a s&n)l *!&.at *!o.&$ !. Us&n) th Nat&onal I++%n&8at&on S%!. # 9NIS:, th # f&n$ that S27IP onl# &nc! as $ th %s of th n - .a!&c lla .acc&n , an$ that &nst a$ of s &n) +o! .acc&n s $on "# a s&n)l *!&.at *!o.&$ !, th * !c nta) act%all# $ c! as $. Carr$- Kennet) A% an# 5er$n R B1III: Th a%tho!s &n. st&)at ho- th *assa) of th 1&nanc&al S !.&c s Mo$ !n&8at&on Act of 1III 91MA: aff ct $ stoc( *!&c s of "an(s, th!&fts, f&nanc co+*an& s an$ &ns%!anc co+*an& s. Th st%$# loo(s at stoc( 6c ss ! t%!ns ac!oss s cto!s an$ co+*an# s&8 . Th &$ a &s that th *assa) of th 1MA o* ns $oo!s fo! *ot nt&al + !) !s an$ consol&$at&ons ac!oss "an(&n), f&nanc&al an$ &ns%!anc s cto!s, t!anslat&n) &nto a"no!+al *os&t&. ! t%!ns fo! "%s&n ss s that a! th l&( l# can$&$at fo! + !) !s an$ consol&$at&on. Th ! s%lts of th st%$# s%)) st that th la!) st ! t%!ns to th 1MA *assa) - ! ! al&8 $ "# la!) &n. st+ nt "an(s an$ &ns%!anc co+*an& s. Th stoc( *!&c s of "an(s, "oth s+all an$ la!) , s + $ to " %naff ct $ "# th n - l )&slat&on -h&l th!&fts, f&nanc co+*an& s an$ fo! &)n "an(s lost .al% . Carr$- Kennet) A B/001D Th&s *a* ! &s conc *t%all# s&+&la! to th on c&t $ a"o. , &n that th a%tho! &n. st&)at s -h th ! th anno%nc + nt of a + !) ! " t- n 2&t&co!* an$ T!a. l !s a"no!+all# &+*act $ stoc( *!&c s of f&nanc&al an$ &ns%!anc co+*an& s. Anal#s&s of a"no!+al ! t%!ns s%!!o%n$&n) th + !) ! sho- that l&f &ns%!anc co+*an& s an$ la!) "an(s 6* !& nc $ s&)n&f&cant stoc( *!&c &nc! as s, -h&l th ! t%!ns of stoc(s of s+all ! "an(s, h alth &ns%! !s, an$ *!o* !t#/cas%alt# &ns%! !s ! +a&n ! lat&. l# %nchan) $. Estrella4 Artur$% B/001D

Th&s *a* ! anal#s s -h&ch t#* s of + !) !s a! l&( l# to " +ost *!o$%ct&. fo! "an(s an$ oth ! f&nanc&al f&!+s &n th Un&t $ Stat s. Th a%tho! ac(no-l $) s that th $&. !s&f&cat&on )a&ns an$ loss of ff&c& nc#. Th ! s a!ch cons&$ !s l&f 6t nt to &ns%!anc , -h&ch $&ff ! nt "%s&n ss act&.&t& s a! f%n$a+ ntall# $&st&nct &n$%c s a t!a$ off " t- n *!o* !t#/cas%alt# &ns%!anc , s c%!&t& s, an$ co++ !c&al f&!+s as *ot nt&al +atch s fo! f&!+s an$ concl%$ s that *ot nt&al $&. !s&f&cat&on )a&ns a!&s f!o+ al+ost all co+"&nat&ons &n.ol.&n) "an(&n) an$ &ns%!anc . Th *a* ! stan$s o%t " ca%s &t sho-s, %nl&( oth ! a!l& ! ! s a!ch, that *!o* !t# an$ cas%alt# &ns%!anc co+*an& s off ! la!) ! $&. !s&f&cat&on )a&ns to "an(s than l&f &ns%!anc co+*an& s. J$)nst$n4 Jarr$# an# Ma#ura J% B/000D Th a%tho!s f&!st s%++a!&8 *! .&o%s l&t !at%! that 6a+&n $ +ot&. s fo! co+"&n&n) "an( an$ oth ! f&nanc&al s !.&c s. 3&. !s&f&cat&on " n f&ts an$ *!o$%ct co+*l + nta!&t& s 9&. . +o!t)a) an$ +o!t)a) &ns%!anc , a%to f&nanc&n) an$ a%to &ns%!anc : s + to " th *!&+ +ot&. s. 7o- . !, so+ cha!act !&st&cs that ) n !at a!l& ! ! s a!ch also s%)) sts that th ! a! f - l&n(a) s " t- n "an( s !.&c s an$s %n$ !-!&t&n) s !.&c s &n t !+s of c%sto+ !s, o%tl ts, o! oth ! ff&c& nc& s. C&. n th so%!c s of *ot nt&al )a&ns, &t a** a!s that l&f &ns%!anc co+*an& s -&th th &! l&+&t $ %n$ !-!&t&n) !&s( an$ -&$ .a!& t# of oth ! *!o$%cts off ! $ to &n$&.&$%al c%sto+ !s -o%l$ " +o! att!act&. ta!) ts fo! "an(s than oth ! t#* s of &ns%!anc co+*an& s. Bas $ on th s o"s !.at&ons, th a%tho!s *!o*os to t st -h th ! co++ !c&al "an(s, &ns%!anc co+*an& s, an$ "!o( !a) f&!+s - ! fa.o!a"l# aff ct $ "# th 2&t&)!o%*/T!a. l !s + !) ! fo! &+* n$&n) consol&$at&on of f&nanc&al s !.&c s f&!+s. Th # + as%! th .al%at&on ff cts ! s%lt&n) f!o+ th + !) ! anno%nc + nt a+on) thos co++ !c&al "an(s an$ f&nanc&al s !.&c s f&!+s +ost l&( l# to " aff ct $ an$ concl%$ that co++ !c&al "an(s, &ns%!anc co+*an& s, an$ "!o( !a) f&!+s ha. all 6* !& nc $ *os&t&. an$ s&)n&f&cant .al%at&on ff cts %*on th anno%nc + nt of th 2&t&)!o%* + !) !. 7o- . !, th a%tho!s f&n$ that th .al%at&on ff cts a! +o! fa.o!a"l fo! "!o( !a) f&!+s than fo! co++ !c&al "an(s an$ fo! &ns%!anc co+*an& s.

1&nall#, th a%tho!s * !fo!+ a c!oss0s ct&onal anal#s&s -h&ch concl%$ s that th la!) st "an(s an$ th la!) st "!o( !a) f&!+s 6* !& nc +o! fa.o!a"l .al%at&on than th s+all ! "an(s o! s+all ! "!o( !a) f&!+s. S&8 $o s not s + to " s&)n&f&cant fo! &ns%!anc co+*an& s In#ustr( Pu!li ati$ns Ar"str$n.4 E# an# Buse4 P% B1@@<D Th a!t&cl *!o? cts that "an(s -o%l$ a$$ J010 * !c nt to th &! aft ! ta6 *!of&ts &f Dth # a))! ss&. l# *%!s% th &! &ns%!anc o**o!t%n&t#.= Th a%tho! $ . lo*s a *!o fo!+a stat + nt fo! "an(s s ll&n) 1G $&ff ! nt &ns%!anc &t +s. B$r$s4 J$an E% B/00/D Th a%tho! stat s that Dcon. !) nc F $ * n$s on &ts $ f&n&t&on. Sh off !s . !# %s f%l $ f&n&t&ons fo! con. !) nc < 1: M !) ! of "an(s an$ &ns%! !s, h ! tofo! &n$ * n$ nt, &nto a f&nanc&al s%* !+a!( t -&th n$l ss c!oss0s ll&n) *ot nt&al, an$ G: A co+"&nat&on of &ns%!anc an$ ca*&tal +a!( ts *!o$%cts +o.&n) &nto a %n&on an$ %n&fo!+&t#, o! s *a!at +a!( ts * !fo!+&n) th sa+ f%nct&ons. Th&s co%l$ also " la" l $ as s c%!&t&8at&on of &ns%!anc !&s( an$ o! D&ns%!anc&8at&onF of f&nanc&al !&s(. Cr(stal4 Mar( B1@@=D Th&s *an l $&sc%ss&on on "an( +a!( t&n) s%)) sts +o! $&! ct &nt !act&on -&th c%sto+ !s "# $&! ct +a&l o! * !sonal contact. 3o&n) &t *!o0act&. l# an$ "# alt !nat&. + tho$s< call c nt !s, P20"an(&n), &nt !n t "an(&n) an$ s%* !+a!( t "an(&n). Us&n) "!an$&n) an$ oth ! ! ta&l +a!( t&n) s(&lls. Ban( !s ha. t!& $ to c%t $o-n on * !sonal contact an$ +a# ha. al& nat $ th &! c%sto+ !s.

Gjertsen4 Lee Ann B/00/D Ins%!anc a) nts of N - M !s #, 2onn ct&c%t an$ Massach%s tts fo%n$ $ an assoc&at&on as 'In$ * n$ nt Ins%!anc A) nts an$ B!o( !s, an$ ha. a**l& $ fo! a cha!t ! fo! an assoc&at&on sa.&n)s "an(. Th "an( *!o$%cts a! to " sol$ "# th &n$ * n$ nt &ns%!anc a) nts that o-n th &! o-n a) nc& s. Th "an( &s to " na+ $ Ins%!Banc. G$rs*i4 L$rraine B/00/D Th a!t&cl $ sc!&" s ho- &ns%! !s can %s th "an(s, c%sto+ ! "as to ! ach n c%sto+ !s. Ban(s ha. th t!%st of th &! c%sto+ !s an$ that -o%l$ " a )oo$ $&st!&"%t&on chann l fo! l&f &ns%!anc , s* c&all# &n th +&$l . l o! +ass +a!( t. Ban(s co%l$ ! *! s nt A04 $&ff ! nt &ns%! !s th ! fo! th &ns%!anc *!o$%cts n $ to " co+* t&t&. 9fo! th c%sto+ ! an$ th ! *! s ntat&. : an$ s* c&f&c fo! "an( +*lo# s ll&n). 1%!th !+o! , sta"l ! lat&onsh&*s a! n c ssa!# an$ th *!o$%ct n $s to " "!an$ $ an$ - ll a$. !t&s $. Un$ !-!&t&n) -&ll sta# -&th th &ns%! !s "%t s ll&n) +a# )o "oth -a#s "# &ns%!anc a) nts o! "an( +*lo# s. G$rs*i4 L$rraine B/00/D Ins%! !s ha. fo%n$ $ "an(s to off ! "an(&n) *!o$%cts. On h%n$! $ an$ th&!t# f&. a**l&cat&ons - ! +a$ " t- n Man.1, 1IIL an$ Ma# A1, G001. Ins%!anc "an(s ha. an %*h&ll "attl to con.&nc th &! c%sto+ !s to sta"l&sh a "an( acco%nt " ca%s &t &s ha!$ to $ t !+&n -h n an$ -h# an &ns%!anc c%sto+ ! n $s a "an( acco%nt. On th oth ! han$, &t &s as& ! fo! a "an( that *!o.&$ s a loan to s ns -h n &ns%!anc &s n c ssa!#. S&nc +ost * o*l al! a$# ha. a "an( acco%nt, c%sto+ ! as - ll as a) nts ha. to " +ot&.at $ to $ al -&th anoth ! f&nanc&al &nst&t%t&on o! to s-&tch. In a$$&t&on th s n &nst&t%t&ons oft n ha. no "!&c( an$ +o!ta! sta"l&sh+ nt "%t !ath ! ! l# on Int !n t a**l&cat&ons an$ Int !n t &nt !act&ons. Esta"l&sh&n) "an(s na"l &ns%! !s to ) t &nto th t!%st "%s&n ss an$ off ! a so*h&st&cat $ ! t&! + nt *ac(a) an$ to " a"l to c!oss0s ll &ns%!anc *!o$%cts to th &! c%sto+ !s an$

to a!n f

&nco+ . Altho%)h th&s can " $on th!o%)h *a!tn !sh&*s, so+ &ns%! !s -ant

to $o &t alon an$ th%s to a.o&$ f&n$&n) lat ! on %n*l asant s%!*!&s s. Th # co%nt on th &! na+ ! co)n&t&ons an$ th a.a&la"&l&t# of th &! a) nts 9Stat 1a!+, Allstat :. Inc! as&n) "!an$ a-a! n ss, $&! ct +a&l&n), *!o.&$&n) %*0to0$at &nt ! st !at s sho%l$ h l* to l%! c%sto+ !s. Most &ns%!anc f&!+s ha. h&! $ 6* !& nc $ "an( !s to c! at an$ +ana) th s "an(s. 5$.an4 J$)n D B/001D In th&s *a* !, th a%tho! cont n$s that th &+*act of th CLB Act on th &ns%!anc &n$%st!# &s %ncl a!. It ha$ " n -&$ l# ass%+ $ that th "an(&n) &n$%st!# -o%l$ 4%&c(l# 6*an$ &nto non0"an(&n) act&.&t& s, as s#n !)& s co%l$ " 6* ct $ f!o+ th la!) "an( c%sto+ ! &nfo!+at&on "as an$ f! 4% nt contacts -&th c%sto+ !s. 7o- . !, th&s 4%&c( ! s*ons has not ta( n *lac , *a!tl# " ca%s of * !c *t&on of !&s( &n th &ns%!anc "%s&n ss. Th a%tho! also c&t s a ! s a!ch st%$# "# Th 1 $ !al R s !. Ban( of Atlanta that s%)) sts that "an( hol$&n) co+*an& s -&ll a$$ &ns%!anc *!o$%cts to th &! l&n s of "%s&n ss fo! so%n$ ! asons s%ch as< 1: s+all &nc! + nt costs &n.ol. $, G: th *! s nc of 6&st&n) c%sto+ ! ! lat&onsh&*s, A: ! . n% $&. !s&f&cat&on, 4: a"s nc of &nt ! st !at !&s( &n &ns%!anc co+*a! $ -&th loans an$ J: "an(s, - "0"as $ +a!( t&n) ca*a"&l&t#. M Daniel4 Da'i# B1@@; Th a!t&cl 6*la&ns that &ns%!anc a) nts a! af!a&$ of "an(s c%tt&n) &nto th &! "%s&n ss as ff&c& nt than a) nts. Th a!t&cl la#s o%t

th # ha. &n E%!o* -h ! "an(s a! fa! +o!

ho- to +a( th *!o*os $ l )&slat&on &n ff ct&. , "# -a!n&n) of %ns%"stant&at $ t& 0&ns an$ "an( co !c&on, *!o*os&n) 100$a# -a&t&n) * !&o$s, stat l )&slat&on, an$ to%)h f&! -alls.

Milli.an4 J$)n B1@@< 1&!st Lon) Islan$ Ban( *!os* !s " ca%s &t s !. s a s+all n&ch of s+all *!&.at l# o-n $ co+*an& s an$ %*scal cons%+ !s that &t co$$l s "# " &n) a.a&la"l "oth &n * !son/ *hon an$ onl&n . Pasini4 R$( B1@@= Th a%tho! stat s that th &ns%!anc &n$%st!# can $ f n$ &ts lf a)a&nst th &n.as&on "# "an(s th!o%)h " tt ! c%sto+ ! s !.&c an$ )! at ! %s of t chnolo)&cal ff&c& nc& s. 9e!er4 Irene B/00/D > " ! ! *o!ts that, s&nc th CLB Act of 1III, a f - "an(s ha. ac4%&! $ &ns%!anc f&!+s an$ th n 2&t&)!o%* s*l&t %* a)a&n. Sh *!o.&$ s th follo-&n) ! asons fo! non0 con. !) nc <

R )%lat&on< f&nanc&al an$ "an( hol$&n) co+*an& s a! f $ !all# ! )%lat $, &ns%!anc f&!+s a! stat ! )%lat $. CLB ! 4%&! s U.S. ?%!&s$&ct&on to a$o*t %n&fo!+ o! ! c&*!ocal a) nt an$ "!o( ! l&c ns&n) la-s "# No. +" ! G00G. R c&*!oc&t# has a**a! ntl# " n a**!o. $ "# +ost stat s. B%t n &ns%!anc *!o$%cts n $ to ha. stat a**!o.al " fo! th # a! allo- $ to " +a!( t $, -h&ch &s a slo- *!oc ss. >&ll th ! " f $ !al cha!t !&n) of &ns%!anc f&!+s &n th f%t%! E

T chnolo)#< "an(s a! a"l to off ! &nt !act&. onl&n s !.&c s, -h&l &ns%!anc *!o$%cts a**a! ntl# $on,t l n$ th +s l. s to &t. Also oth !-&s &ns%!anc a! slo- ! to a$o*t n - t chnolo)#.

1&nanc&al ! asons< R t%!n on 4%&t# fo! &ns%! !s -as fo! G000 onl# L.4G * !c nt -h&l "an(s +a$ 1G.G * !c nt. P!o"a"l# 2&t&)!o%* s*%n off T!a. l !,s " ca%s 2&t&"an(. &t $&$ not +a( $o%"l $&)&t )!o-th, a no!+ fo!

Ban(s ha. t-o )oals &n +&n$<

R . n% $&. !s&f&cat&on P!o$%ct $&. !s&f&cat&on fo! th &! c%sto+ !s

A) nc& s can *!o.&$ fo! "oth thos n $s -&tho%t a$$&t&onal %n$ !-!&t&n) !&s(s fo! th "an(s. Ban(s &nc! as&n)l# "o%)ht &ns%!anc a) nc& s - ll " fo! CLBH th # &nc! as $ f!o+ I &n 1IIK to KG &n G000, "%t $ c! as $ to 4A &n G001. Th ! a! so+ "&) "an(s -h&ch ha. *%!s% $ that st!at )# fo! a lon) t&+ , BB5T co+*l t $ JK a) nc# ac4%&s&t&ons s&nc 1INI an$ has th 11th la!) st &ns%!anc a) nc# n t-o!(, > lls 1a!)o, th "an( -&th th la!) st &ns%!anc a) nc# n t-o!( *lans to +a( GJ * !c nt of &ts &nco+ th!o%)h &ns%!anc , t!%st, an$ "!o( !a) "%s&n ss.

OBJECTI7ES OF T5E ST&D6

To st%$# th sal s St!at )# of f& l$ fo!c of Ba?a? All&an8 L&f Ins%!anc . To st%$# th *!oc ss of s ll&n) of Ins%!anc Pol&c& s "# A$&.so!s. To st%$# a"o%t n - sal s *!o)!a++ off ! $ "# th co+*an#. To (no- a"o%t th +a!( t&n) an$ *!o+ot&on aft ! n - sal s *!o)!a++ .

RESEARC5 MET5ODOLOG6
R s a!ch + tho$olo)# &s a -a# to s#st +at&call# sol. th ! s a!ch *!o"l +. R s a!ch + tho$olo)# const&t%t s of ! s a!ch + tho$s, s l ct&on c!&t !&on of ! s a!ch + tho$s, %s $ &n cont 6t of ! s a!ch st%$# an$ 6*lanat&on of %s&n) of a *a!t&c%la! + tho$ o! t chn&4% so that ! s a!ch ! s%lts a! ca*a"l of " &n) .al%at $ &th ! "# ! s a!ch ! h&+s lf o! "# oth !s. >h# a ! s a!ch st%$# has " n %n$ !ta( n, ho- th ! s a!ch *!o"l + has " n fo!+%lat $, -h# $ata ha. " n coll ct $ an$ -hat *a!t&c%la! t chn&4% of anal#8&n) $ata has " n %s $ an$ a " st of s&+&la! oth ! 4% st&on a! %s%all# ans- ! $ -h n - tal( of R s a!ch + tho$olo)# conc !n&n) a ! s a!ch *!o"l + o! st%$#. Th +a&n a&+ of ! s a!ch &s to f&n$ o%t th t!%th -h&ch &s h&$$ n an$ -h&ch has not " n $&sco. ! $ as # t.

RESEARC5 DESIGN
DA R s a!ch 3 s&)n &s th a!!an) + nt of con$&t&ons fo! coll ct&on an$ anal#s&s of $ata &n a +ann ! that a&+s to co+"&n ! l .anc to th ! s a!ch *%!*os -&th cono+# &n *!oc $%! .F R s a!ch $ s&)n &s th "l% *!&nt to st%$# an# *!o"l +. It &s *lan fo! coll ct&on, anal#s&s an$ &nt !*! tat&on of $ata &n a +ann ! that &s ! l .ant to th ! s a!ch *%!*os -&th cono+# &n th *!oc $%! .F E6*lo!ato!#F &s %s $ fo! ca!!#&n) o%t th&s ! s a!ch.

T(+es $f Resear ) Desi.n3

R s a!ch $ s&)n can " class&f& $ &nto follo-&n) t#* s<0 3 sc!&*t&. 5 3&a)nos&s ! s a!ch $ s&)n E6*lo!ato!# ! s a!ch $ s&)n E6* !&+ ntal ! s a!ch $ s&)n Anal#t&cal ! s a!ch $ s&)n

EK+l$rat$r(3 In &t th *!o"l + &s fo!+%lat $ fo! *! c&s &n. st&)at&on an$ -o!(&n)
h#*oth s&s &s $ . lo* $.

AREA OF ST&D6

Th a! a of th st%$# ! lat $ -&th ) tt&n) co!! ct &nfo!+at&on of l&f &ns%!anc *ol&c& s of $&ff ! nt * o*l s &n th ! )&on of 7&ssa!.

SAMPLE DESIGN A sa+*l $ s&)n &s a $ f&n&t *lan fo! o"ta&n&n) a sa+*l f!o+ a )&. n *o*%lat&on. It ! f !s to th t chn&4% s o! th *!oc $%! th ! s a!ch ! -o%l$ a$o*t 6*lo!ato!# &n s l ct&n) &t +s fo! th sa+*l . Sa+*l $ s&)n +a# as - ll " $!a-n f!o+ th *o*%lat&on to " &ncl%$ $ &n th sa+*l &. . th s&8 of th sa+*l . Sa+*l $ s&)n &s $ t !+&n $ " fo! $ata a! coll ct $. EAPLORATOR6 3 Durin. "( stu#( I )a'e ta*en ;0 insuran e are $nsultants as t)e size $f sa"+le.

TOOLS &SED To (no- th ! s*ons , I ha. %s $ th 4% st&onna&! + tho$. If on -&sh to f&n$ -hat &ns%!anc ca! cons%ltants th&n( o! (no-, th lo)&cal *!oc $%! &s to as( th +. Th&s has l $ +a!( t&n) ! s a!ch !s to %s th 4% st&onna&! t chn&4% fo! coll ct&n) $ata +o! than an# oth ! + tho$. In th&s + tho$ 4% st&onna&! - ! $&st!&"%t $ to th ! s*on$ nts an$ th # - ! as( $ to ans- ! th 4% st&ons &n th 4% st&onna&! . Th 4% st&onna&! - ! st!%ct%! $ non $&s)%&s $ 4% st&onna&! " ca%s th 4% st&on -h&ch th 4% st&onna&! conta&n $, - ! a!!an) $ &n a s* c&f&c o!$ ! " s&$ s . !# 4% st&on as( $ - ! lo)&cal fo! th st%$#, no 4% st&on can " t !+ $ as &!! l .ant. Th 4% st&onna&! -as non0$&s)%&s $ " ca%s th 4% st&onna&! -as const!%ct $ so that th o"? ct&. &s cl a! to th ! s*on$ nt. Th ! s*on$ nts - ! a-a! of th o"? ct&. . Th # (n - -h# th # - ! as( $ to f&ll th 4% st&onna&! . >&th th h l* of follo-&n) t chn&4% s, -h&ch a! %s&n) "# Ba?a? All&an8 I anal#s that th ho- t chn&4% s of sal s *!o+ot&on a! %s f%l. DATA COLLECTION PRIMAR6 DATA SO&RCES Th!o%)h &nt !act&on -&th &ns%!anc ca! cons%ltant Th!o%)h 4% st&onna&! s f&ll $ f!o+ th &ns%!anc ca! cons%ltant.

SECONDAR6 DATA SO&RCES3 Th!o%)h &nt !n t, .a!&o%s off&c&al s&t s of th co+*an& s. Th!o%)h *a+*hl ts an$ "!och%! s of th co+*an& s. Mo%!nals 5 Ma)a8&n

DATA ANAL6SIS AND INTERPRETATION

9Bas $ on s%!. # con$%ct $ fo! J0 &ns%!anc ca! cons%ltants: T.1 >h&ch t chn&4% of sal s *!o+ot&on #o% *! f !E R s*ons &n R 40R 14R 1KR G0R 10R

O*t&ons 3&s*la# 3oo! to 3oo! 3 +o E6h&"&t&on 2atalo)% P!&c Off

40% 35% 30% 25% 20% 15% 10% 5% 0% Display Door to Door Demo Exhibition Catalogue Pri e !""

INTERPRETATION3 Acco!$&n) to th st%$# 40R &ns%!anc ca! cons%ltants *! f ! $&s*la# t chn&4% ,G0R &ns%!anc ca! cons%ltants *! f ! catalo)% s, 1KR to th 6h&"&t&on, 14R to th $oo! to $oo! $ +o an$ 10R &ns%!anc ca! cons%ltants *! f ! *!&c off t chn&4% .

T.G

-h&ch t chn&4% &s )&.&n) )oo$ ! s*ons f!o+ c%sto+ !sE R s*ons &n R 1NR AKR 1NR 1KR 1GR

O*t&ons 3oo! to 3oo! 3 +o 3&s*la# E6h&"&t&on 2atalo)% P!&c Off

INTERPRETATION3 Acco!$&n) to th st%$# AKR &ns%!anc ca! cons%ltants sa# $&s*la# t chn&4% s )&.&n) )oo$ ! s*ons , 1NR &ns%!anc ca! cons%ltants sa# to th $&s*la# 5 6h&"&t&on, 1KR to th catalo)% s 5 1GR sa# to th *!&c off t chn&4% .

T.A.

3o #o% (no- th sal s *!o+ot&on sch + E R s*ons &n R 100 0

O*t&ons OES NO

Int !*! tat&on< Aft ! th st%$# &t -as fo%n$ that 100R of th cons%ltants (no- a"o%t th *!o+ot&ons sch + s.

T4.

3o #o% (no- ho- +an# sch + s a! a.a&la"l &nto th +a!( t&n)E R s*ons &n R 100 0

O*t&ons OES NO

Int !*! tat&on< Aft ! th st%$# &t -as fo%n$ that 100R of th cons%ltants (no- a"o%t ho- +%ch sch + s &n th +a!( t.

T.J.

>hat &s +ost att!act&. sch + s &n th +a!( tE R s*ons &n R 40 G0 GJ 1J

O*t&ons Mon # Bac( P ns&on Sch + 2h&l$ *lans Oth !s

INTERPRETATION In th +a!( t s )+ ntat&on +on # "ac( &s +ost att!act&. sch + s &n th +a!( t an$ aft t that ch&l$ *lan th n * ns&on sch + . 10R ! s*on$ nt )o s to oth ! sch + s.

T.K

>h&ch t chn&4% &s cono+&call# " n f&c&alE R s*ons &n R 10R GGR 10R 4KR 1GR

O*t&ons 3&s*la# 3oo! to 3oo! 3 +o E6h&"&t&on 2atalo)% P!&c Off

50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Display Door to Door Demo

Exhibition

Catalogue

Pri e !""

Int !*! tat&on< Acco!$&n) to th 4KR &ns%!anc ca! cons%ltants, catalo)% t chn&4% &s cono+&call# " n f&c&al. GGR to th $oo!0to0$oo! $ +o an$ 1GR &ns%!anc ca! cons%ltants *! f ! *!&c off t chn&4% .10R to th 6h&"&t&on 5 $&s*la# t chn&4% .

T.L

>h&ch t chn&4% ! 4%&! s l ss t&+ &n sal s *!o+ot&onE R s*ons &n R GGR ANR 10R 1KR 14R

O*t&ons 3&s*la# 3oo! to 3oo! 3 +o E6h&"&t&on 2atalo)% P!&c Off

40% 35% 30% 25% 20% 15% 10% 5% 0% Display Door to Door Demo Exhibition Catalogue Pri e !""

INTERPRETATION Acco!$&n) to th st%$# ANR &ns%!anc ca! cons%ltants sa# $&s*la# t chn&4% ! 4%&! s l ss t&+ 6h&"&t&on. &n sal s *!o+ot&on. GGR to th $&s*la# t chn&4% , 1KR &ns%!anc ca! cons%ltants .ot to th catalo)% s, 14R &ns%!anc ca! cons%ltants .ot to th 10R to th

TN

>h&ch t chn&4% &s as&l# +ana) a"l E R s*ons &n R 1NR A0R 10R A4R NR

O*t&ons 3&s*la# 3oo! to 3oo! 3 +o E6h&"&t&on 2atalo)% P!&c Off

35% 30% 25% 20% 15% 10% 5% 0% Display Door to Door Demo Exhibition Catalogue Pri e !""

Int !*! tat&on< Acco!$&n) to th st%$# A4R &ns%!anc ca! cons%ltants sa# that th catalo)% s &s as&l# +ana) a"l , A0R to th $oo! to $oo! $ +o,1NR &ns%!anc ca! cons%ltants *! f ! $&s*la# t chn&4% 10R to th t chn&4% . 6h&"&t&on, an$ NR &ns%!anc ca! cons%ltants sa# to th *!&c off

T.I >h&ch t chn&4% ! 4%&! s l ss (no-l $) to 6 c%t E O*t&ons 3&s*la# 3oo! to 3oo! 3 +o E6h&"&t&on 2atalo)% P!&c Off R s*ons &n R 14R 1GR 1GR GGR 40R

40% 35% 30% 25% 20% 15% 10% 5% 0% Display Door to Door Demo Exhibition Catalogue Pri e !""

Int !*! tat&on< Acco!$&n) to th st%$# 40R &ns%!anc ca! cons%ltants .ot to th *!&c off t chn&4% &s ! 4%&! l ss (no-l $) to 6 c%t .GGR &ns%!anc ca! cons%ltants *! f ! catalo)% s, 14R to th $&s*la# an$ 1GR to th 6h&"&t&on 5 $oo! to $oo!.

T.10 >h&ch t chn&4% ! 4%&! s +o! (no-l $) to 6 c%t E O*t&ons 3&s*la# 3oo! to 3oo! 3 +o E6h&"&t&on 2atalo)% P!&c Off
45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Display Door to Door Demo Exhibition Catalogue Pri e !""

R s*ons &n R G0R 4GR G4R 10R 4R

Int !*! tat&on< Acco!$&n) to th st%$# 4GR &ns%!anc ca! cons%ltants .ot to th $oo!0to0$oo! t chn&4% that &t ! 4%&! s +o! (no-l $) to 6 c%t than oth !s. G4R to th &ns%!anc ca! cons%ltants *! f ! *!&c off t chn&4% . 6h&"&t&on, G0R to th $&s*la# t chn&4% , 10R &ns%!anc ca! cons%ltants )&. .ot to th catalo)% s an$ 4R

T.11 P!&c off a! n c ssa!# fo! sal s *!o+ot&onE O*t&ons O s No 2an,t sa#
50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% #es $o Can%t say

R s*ons s &n R 4KR 40R 14R

Int !*! tat&on< Acco!$&n) to th st%$# 4KR &ns%!anc ca! cons%ltants sa# # s that th *!&c off a! n c ssa!# fo! sal s *!o+ot&on. 40R sa# no an$ 14R sa# can,t sa#.

T.1G

3o #o% th&n( that sal s *!o+ot&on *!o)!a+ that &s *! s ntl# %n$ !ta( n "# Ba?a?

All&an8. a! sat&sfacto!#E O*t&ons O s No 2an,t sa#

50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% #es $o Can%t say

R s*ons s &n R A4R 4KR G0R

Int !*! tat&on < Acco!$&n) to th st%$# 4KR &ns%!anc ca! cons%ltants sa# No that th sal s *!o+ot&on *!o)!a+ that &s *! s ntl# %n$ !ta( n "# Ba?a? All&an8 a! sat&sfacto!&l# AKR sa# O s an$ G0R sa# can,t sa#.

T.1A

Sho%l$ Ba?a? All&an8 ta( %* n - sal s *!o+ot&on *!o)!a+E R s*ons s &n R LGR GGR KR

O*t&ons O s No 2an,t sa#

(0% '0% &0% 50% 40% 30% 20% 10% 0% #es

$o

Can%t say

Int !*! tat&on < Acco!$&n) to th st%$# LGR &ns%!anc ca! cons%ltants sa# # s &nstall+ nt off !s a! GGR sa# no an$ KR sa# can,t sa#.

T.14

Sho%l$ Ba?a? All&an8 )ot +o! " n f&t f!o+ n - sal s *!o+ot&on *!o)!a+E R s*ons s &n R LNR GGR

O*t&ons O s No

Int !*! tat&on < Acco!$&n) to th st%$# LNR &ns%!anc ca! cons%ltants sa# # s th n - sal s *!o)!a++ s +a( +o! " n f&t an$ GGR sa# no th ! &s st&ll no +o! " n f&ts.

FINDINGS
Th&s sal s *!o+ot&on *!oc ss -as . !# +%ch sat&sf#&n) fo! + not onl# *!act&call# an$ aca$ +&call# "%t &t also h l* $ + &n $ . lo*&n) +# co++%n&cat&on s(&ll an$ n!&ch $ +# (no-l $) also. I ha. co+ to (no- a"o%t th &+*o!tanc of +a!( t&n) s* c&all# -&th ! )a!$ to Sal s P!o+ot&on on th +ost ! no-n $ o!)an&8at&on l&( Ba?a? All&an8. Es* c&all# " ca%s of + !) nc of +an# co+* t&to! -&th 6c ll nc &n s !.&c s 5 co+* t&t&. *!o$%ct. Th "as of th&s cha*t ! concl%s&on &s on th $ata anal#s&s o! -hat - sa# f&n$&n)s. I ha. f&n$&n) f!o+ th &ns%!anc ca! cons%ltants of th Ba?a? All&an8. an$ th &! &ns%!anc *ol&c& s on +# to*&c. >h n th &ns%!anc ca! cons%ltant &s as( $ -h# th # a! $ al&n) &n th&s *a!t&c%la! &ns%!anc *ol&c& s 9*!o$%ct: th # +ostl# st! ss $ on co+*an#,s &+a) . Th # also sa&$ that all &nco+ an$ a) )!o%* of c%sto+ !s a! att!act $ to-a!$s th &! *!o$%ct "%t "%# !s a! +a&nl# f!o+ h&)h ! an$ +&$$l 0&nco+ )!o%*. Ins%!anc ca! cons%ltants sa&$ that th &! sal &s . !# +%ch &nc! as $ &n th last # a!s " ca%s of an 6c ll nt * !fo!+anc of th *!o$%ct. Ins%!anc ca! cons%ltants sa&$ that th c%sto+ ! a! . !# +%ch sat&sf& $ aft ! ) tt&n) &ns%!anc *ol&c& s " ca%s of &ts f at%! s ! lat $ -&th !&s(s of l&f an$ also " ca%s of 4%al&t# of s !.&c *!o.&$ "# th &! co+*an# &s . !# )oo$.

LIMITATIONS OF T5E ST&D6

1ollo-&n) l&+&tat&ons - ! fac $ $%!&n) th st%$#< 1. >h&l $ s&)n&n) th 4% st&onna&! &t -as ( *t &n +&n$ to )ath ! +o! an$ +o! &nfo!+at&on f!o+ ach ta!) t * !son. 1o! th n &th ! *! s nt no! $ sc!&*t&. 4% st&ons co%l$ ha. s !. $ th *%!*os . Th ! fo! th 4% st&onna&! conta&n $ &n th o* n0 n$ $ 4% st&ons. G. Th st%$# -as con$%ct $ &n Ba?a? All&an8 &n 7&sa! c&t#, -h&ch has 1GL to 1L0 &ns%!anc ca! cons%ltants onl#. Th sa+*l s&8 -as of J0 &ns%!anc ca! cons%ltants onl# so that acc%!ac# of $ata so coll ct $ co%l$ " a"s%!$ co. ! $ "# c&!c%lat&on of 4% st&onna&! . A. Th acc%!ac# of &n$&cat&ons )&. n "# th ! s*on$ nts +a# not " cons&$ ! a$ 4%at as -h th ! th lan)%a) %s $ &n th 4% st&onna&! &s %n$ !stoo$ "# th ! s*on$ nt cannot " ta( n fo! )!ant $. 4. Th st%$# &s "as $ on th "&as $ " ca%s th &nfo!+at&on )ath ! $ f!o+ th &ns%!anc ca! &ns%!anc ca! sho-n cons%ltants. Th ! fo! &n s%ch cas &t &s *oss&"l that th &nfo!+at&on s%**l& $ +&)ht " cons%ltant +&)ht ha. *a!t&al&t# to-a!$s th &! &ns%!anc *ol&c& s. J. S&nc th s%!. # -as l&+&t $ to J0 &ns%!anc ca! cons%ltants &t &s !ath ! $&ff&c%lt to )&. a *! c&s concl%s&on "%t I ha. t!& $ to th " st of +# ca*a"&l&t# to )&. th concl%s&on on a co+*! h ns&. +ann !.

S&GGESTIONS

7 ! a! so+ s%)) st&ons, -h&ch +a# h l* to st! n)th n th f&!+ f%!th ! Man# of th &ns%!anc ca! cons%ltants of th Ba?a? All&an8. 7as th lac( of )oo$ co++%n&cat&on s(&lls an$ t!a&n&n). So t!a&n&n) sho%l$ " as#. Ba?a? All&an8. Sho%l$ %s n - t chn&4% s of sal s *!o+ot&on. 2%sto+ ! s !.&c s sho%l$ " +o! co+fo!ta"l than oth !s. P o*l +%st " +a$ a-a! of th " n f&ts of th *ol&c& s of Ba?a? All&an8. Th co+*an# sho%l$ )&. * !sonal att nt&on to ach c%sto+ !. P!o* ! ass&stanc s ttl + nt. All th $ ta&ls a"o%t th co+*an# sho%l$ " )&. n to th c%sto+ !s. R )%la! a$. !t&s + nt of th co+*an# sho%l$ " )&. n TV an$ N -s*a* !. Th co+*an# +%st t!# to f&n$ n - +a!( ts s* c&all# &n th !%!al a! as. Th co+*an# sho%l$ $o f! 4% nt anal#s&s of th co+* t&to!s. sho%l$ " *!o.&$ $ to th c%sto+ ! at th t&+ of cla&+

CONCL&SION
Ba?a? All&an8 &s on of th -o!l$,s la!) st l&f &ns%!anc co+*an& s. It has "%s&n ss s s*! a$ o%t ac!oss th )lo" . Th co+*an# fac s a la!) a+o%nt of co+* t&t&on. To s%sta&n &ts lf &t +%st *!o+ot &ts *!o$%cts th!o%)h a$. !t&s&n) an$ &+*!o. &ts s ll&n) t chn&4% s. 2ons%+ !s +%st " a-a! of th n - *lans a.a&la"l at Ba?a? All&an8. Th + $&%+ of a$. !t&s&n) %s $ co%l$ " t l .&s&on s&nc +ost of &ts co+* t&to!s %s th&s tool to *!o+ot th &! *!o$%cts. Th co+*an# +%st " *!o+ot $ as an In$&an co+*an# s&nc cons%+ !s s + to ha. +o! t!%st &n &n. st&n) &n In$&an f&!+s. Th %n&t l&n( $ conc *t +%st " s* c&f&call# *!o+ot $. Th ) n !al * !c *t&on of l&f &ns%!anc has to chan) &n In$&a " fo! *!o)! ss &s +a$ &n th&s f& l$. P o*l sho%l$ not " af!a&$ to &n. st +on # &n &ns%!anc an$ +%st %s &t as an ff ct&. tool fo! ta6 *lann&n) an$ lon) t !+ sa.&n)s.

BIBLIOGRAP56
B$$*s K$t)ari C%R., 91III: R s a!ch M tho$olo)#, >&sh-a P!a(ashan K$tler P% an# Ar"str$n. G%4 9G00J: P!&nc&*l s of Ma!( t&n) N - 3 lh&, P! nt&c 7all of In$&a K$tler P%4 91III:Ma!( t&n) Mana) + nt Anal#s&s, Plann&n), I+*l + ntat&on an$ 2ont!ol, N - 3 lh&, P! nt&c 7all of In$&a SaKena Rajan, 91III: Ma!( t&n) Mana) + nt, Tata McC!a- 7&ll

9e!sites3 ---."a?a?all&an8.co+ ---.4%&c(+"a.co+ ---.&n$&a&nfol&n .co+

QUESTIONNAIRE
Na+ A$$! ss
T.1

< <

///////////////////////////////////// /////////////////////////////////////

To -h&ch t chn&4% of sal s *!o+ot&on #o% *! f !E B: 3oo! to $oo! $ +onst!at&on 3: 2atalo)%

A: 3&s*la# 2: E6h&"&t&on E: P!&c 0off T.G. OES T.A. OES T.4. Mon # Bac( 2h&l$ *lans T.J A: 3&s*la# 2: E6h&"&t&on E: P!&c 0off T.K

3o % (no- th sal s *!o+ot&on sch + E 9 9 : : 9 9 : : NO NO P ns&on Sch + Oth !s 9 9 9 9 : : : : 3o % (no- ho- +an# sch + s a! a.a&la"l &nto th +a!( t&n)E >hat &s +ost att!act&. sch + s &n th +a!( tE

-h&ch t chn&4% &s )&.&n) )oo$ ! s*ons f!o+ c%sto+ !sE B: 3oo! to $oo! $ +onst!at&on 3: 2atalo)%

>h&ch t chn&4% &s cono+&call# " n f&c&alE B: 3oo! to $oo! $ +onst!at&on 3: 2atalo)%

A: 3&s*la# 2: E6h&"&t&on E: P!&c 0off T.L

>h&ch t chn&4% ! 4%&! s l ss t&+ &n sal s *!o+ot&onE B: 3oo! to $oo! $ +onst!at&on 3: 2atalo)%

A: 3&s*la# 2: E6h&"&t&on E: P!&c 0off

T.N

>h&ch t chn&4% &s as&l# +ana) a"l E B: 3oo! to $oo! $ +onst!at&on 3: 2atalo)%

A: 3&s*la# 2: E6h&"&t&on E: P!&c 0off T.I

>h&ch t chn&4% ! 4%&! s l ss (no-l $) to 6 c%t E B: 3oo! to $oo! $ +onst!at&on 3: 2atalo)%

A: 3&s*la# 2: E6h&"&t&on E: P!&c 0off T.10

>h&ch t chn&4% ! 4%&! s +o! (no-l $) to 6 c%t E B: 3oo! to $oo! $ +onst!at&on 3: 2atalo)%

A: 3&s*la# 2: E6h&"&t&on E: P!&c 0off T.1G A: O s 2: 2an,t sa#

P!&c off an$ &nstall+ nt off !s a! n c ssa!# fo! sal s *!o+ot&onE B: No

T.1A3o #o% th&n( that sal s *!o+ot&on *!o)!a+ that &s *! s ntl# %n$ !ta( n "# Ba?a? All&an8. a! sat&sfacto!#E A: O s 2: 2an,t sa# T.14 A: O s 2: 2an,t sa# Sho%l$ Ba?a? All&an8. ta( %* n - sal s *!o+ot&on *!o)!a+E B: No B: No