Analysis of ULIP

ANALYSIS OF ULIP
A SUMMER PROJECT STUDY SUBMITTED IN PARTIAL FULFILLMENT
FOR THE REQUIREMENT OF THE TWO YEAR
POST GRADUATE DIPLOMA IN MANAGEMENT (2016-18)
BY
Nikunj Batra
Roll No. 010/2016
LAL BAHADUR SHASTRI INSTITUTE OF MANAGEMENT, DELHI

JUNE, 2017
DECLARATION
I, Nikunj Batra, bonafide student of Lal Bahadur Shastri Institute of Management, Delhi; hereby
declare that this project entitled Analysis of ULIP undertaken at IDBI Federal Life Insurance
Company, New Delhi under the guidance of Dr S.P. Ketkar, Professor Marketing (Academic Mentor),
LBSIM, New Delhi and Mr Manas Das (Training Manager) is my original work.
I also declare that the data in this report is publicly available i.e. nothing disclosed is confidential and
no part of this report has been submitted by me fully or partly for the award of any other degree,
diploma, title or recognition earlier.
Date: 23rd July 2017

Place: New Delhi (Nikunj Batra)
ACKNOWLEDGEMENT
I am really thankful to all the people who have been helpful in the successful execution and
completion of the project titled Analysis of ULIP.
I would like to express my deepest gratitude to my project mentor Mr. Manas Das (Traning Manager)
for his valuable guidance, inspiration and encouragement that I received throughout the project.
I also acknowledge the fact that throughout the project he has dedicated his valuable and
precious time that helped me a lot.
It was a great privilege for me to work under the expert guidance of Dr S.P. Ketkar, Professor -
Marketing, LBSIM New Delhi who was always there to monitor progress in the project and provide
me with ample suggestions and guidance to successfully complete this project.
Nikunj Batra
PGDM(General)
Lal Bahadur Shastri Institute of Management

OBJECTIVES
To determine and evaluate the risk and return of the other companies.
To determine a better portfolio for IDBI Wealthsurance.
Understanding the portfolio design of various companies and comparing it with IDBI
INTRODUCTION
In the commercial arena, the choice of an effective strategy is perhaps the most important and
the toughest decision to take. The decision to select among the grand strategies and deciding
Upon which strategy, will best meet the organization objectives is rendered complex by multiple
considerations. The same is also true with the insurance companies in India who are constantly
revamping their strategies and coming out with innovative options to stay in the competition. There
were days when Life Insurance Corporation of India (LIC) was the only insurance company
available to people in India and where people synonymies Insurance to LIC. Also, since it was a
Public-Sector Undertaking (PSU) it has a great support from people. But now times have changed
a lot of private players have entered into the fray. There have been a lot of Indian companies
collaborating with foreign insurance giants like ICICI Prudential, Bajaj Allianz etc. who have
already made their presence felt in the Indian Insurance industry.
Even though LIC is still the market leader with more than over 60% of the market share, the private
players are giving it a tough time. Since the last decade the market share of LIC had fallen by about
more than 20%.
The new private players have started offering a variety of unlimited schemes right from insurance
plans for a 30 days old baby to that of a 70 years old senior citizen. Also, the private
Companies have started creating the important have started positioning their brands and are
Marketing their products in such a way the people have started feeling the need of security
in their lives.
Taking into account the huge population and growing per capita income besides several other
driving factors, a huge opportunity is in store for the insurance companies in India. According to
the latest research findings, nearly 80% of Indian population are without life insurance cover while
health insurance and non-life insurance continues to be below international standards. And this
part of the population is also subjected to weak social security and pension systems with hardly
any old age income security. As per our findings, insurance in India is primarily used as a means
to improve personal finances and for income tax planning; Indians tend to invest in properties and
gold followed by bank deposits. They selectively invest in shares also but the percentage is very
small (4-5%). This in itself is an indicator that growth potential for the insurance sector is immense.
It's a business growing at the rate of 15-20% per annum and presently is of the order of around
more than $55 billion.
India is a vast market for life insurance that is directly proportional to the growth in premiums and
an increase in life density. With the entry of private sector players backed by foreign expertise,
Indian insurance market has become more vibrant.
Competition in this market is increasing with companys continuous effort to lure the customers
with new product offerings. However, the market share of private insurance companies remains low in the 25-
35% range. Even to this day, Life Insurance Corporation (LIC) of India dominates Indian insurance sector. The
heavy hand of government still dominates the market, with price controls, limits on ownership, and other
restraints. They private players are still in their initial days and would take some more time to capture a good
market share. At present, they are coming up with new and innovative ideas.
Since the last decade the life insurance industry in India has been growing very fast and many new companies
have entered this business insurance. The Indian life insurance industry has recorded a robust growth of more
than 16 per cent for the nine-month period which ended on December 31, 2008.It is expected to grow at an
amazing rate of 20 per cent this year Also in the present scenario the most sought after insurance plans are the
Unit Linked Insurance Plans (ULIPs).
A ULIP is a life insurance policy which provides a combination of risk cover and investment. ULIPs have
gained high acceptance due to attractive features they offer like flexibility, transparency, liquidity and a vast
variety of fund option. Unit linked plans are suitable for all customer profiles; however, as a general belief the
risk averse investors tend to choose traditional plans and an informed customer prefers a ULIP. ULIPs offer
the kind of flexibility that no insurance product can. ULIPs essentially combine the benefits of an insurance
policy and a market-linked investment. Investors can select a ULIP with an equity-debt combination that is in
line with their risk profile. A risk-taking investor would typically select one with a high equity component,
while a risk-averse investor would opt for a debt-heavy one. Simply put, ULIPs are structured in such a way
that the protection element and the savings element are distinguishable, and hence managed according to your
specific needs. In this way, the ULIP plan offers unprecedented flexibility and transparency.
So, with many players around for a company to really be successful it has to be very efficient on all fronts. It
must constantly adapt to the changing consumer preferences with a lot of new innovations and implementing
new technology try to different from the lot. Especially if it is a new player in the market the company has to
really work very hard to get into the completion and stay afloat.
COMPANY PROFILE
1.3.1 Name Of Company-IDBI FEDERAL LIFE INSURANCE
Branch Address- 903, Aggarwal Corporate Heights, District Centre,

Netaji Subhash Place, Pitampura, New Delhi -110034
Telephone no- 011-33541400,33541424

Website- www.idbifederal.com
Registered Address- IDBI Federal Life Insurance Co. Ltd,1st Floor, Trade view, Oasis Complex,
Kamala City, P.B Marg, Lower Parel (W), Mumbai-400013. India
1.3.2 The Organisation Deals in Insurance Sector with the Aim to provide Services to the People.
Its main Functional Area is Finance and Marketing.
1.3.3 ABOUT IDBI FEDERAL
IDBI Federal Life Insurance Co Ltd is a joint venture between three leading financial conglomerates
Indias premier development bank, Federal bank and Age as (formally Fortis).
one of Indias leading private and insurance giant, Fortis, each of which enjoys a significant status
in their respective business segments. In this venture, IDBI Bank owns 48% equity while Federal
Bank and Fortis own 26% equity each.
IDBI Fortis launched its first set of products across India in March 2008, after receiving the requisite
approvals from the Insurance Regulatory Development Authority (IRDA). The company offers its
services through a vast nationwide network across the branches of IDBI Bank and Federal Bank in
addition to a sizeable network of advisors and partners.
At IDBI Fortis, people endeavour to deliver products that provide value and convenience to the
customer. Through a continuous process of innovation in product and service delivery the company
intends to deliver world-class wealth management, protection and retirement solutions to Indian
customers
IDBI Ltd. continues to be, since its inception, Indias premier industrial development bank Created
in 1956 to support Indias industrial backbone, IDBI has since evolved into a Powerhouse of industrial
and retail finance. Today it is amongst Indias foremost commercial banks, with a wide range of
innovative products and services, serving retail and corporate customers in all corners of the country
from over 490 branches and more than 600 ATMs. The Bank offers its customers an extensive range
of diversified services including project financing, term lending, working capital facilities, lease
finance, venture capital, loan syndication, corporate advisory services and legal and technical
advisory services to its corporate clients as well as mortgages and personal loans to its retail clients.
As part of its development activities,
IDBI has been instrumental in sponsoring the financial sector such as the Securities and Exchange
Board of India (SEBI), National Stock Exchange of India Limited (NSE) and National Securities
Depository Ltd.
Federal Bank is one of Indias leading private sector banks, with a national network and dominant
presence in the state of Kerala. It has a strong network of over 550 branches and 450 ATMs spread
across India. The bank provides over four million retail customers with a wide variety of financial
products. Federal Bank is one of the first large Indian banks to have an entirely automated and
interconnected branch network. They operate on the core banking platform and are RTGS/ NEFT
enabled through which the Bank offers state-of-the-art technology enabled products and services.
In addition to interconnected branches and ATMs, the Bank has a wide range of services like Internet
Banking, Mobile Banking, Tele Banking, and Any Where Banking, debit cards, co-branded credit
cards, online bill payment and call centre facilities to offer round the clock banking convenience to
its customers. The Bank has been a pioneer in providing innovative technological solutions to its
customers and the Bank has won several awards and recommendations.
Fortis, a European financial services provider engaged in banking and insurance with a presence in
over 50 countries, offers its personal, business and institutional customers a comprehensive package
of products and services through its own channels, in collaboration with intermediaries and through
other distribution partners. With a market capitalization of over EUR 40 billion, Fortis ranks among
the sound solvency position and dedicated, professional workforce of over 80,000, enables it to
Combine global strength with local flexibility to provide its clients with optimum support and service.
1.3.4 VISION
To be the Leading Provider of wealth Management, Protection and Retirement

solutions that meets the needs of our customers and adds values to their lives.
MISSION
To continually strive to enhance customer experience through innovative

product offerings, dedicated relationship management and superior service delivery while striving to
interact with our customers in the most convenient and cost effective manner. To be transparent in
the way we deal with our customers and to act with integrity. To invest in and build quality human
capital in order to achieve the mission.
1.3.5 Size of Manpower in IDBI Federal Life Insurance includes around 1000 on roll Employees
and 7500 Agents, along with that the Company offers its services through a vast nationwide network
2308 partners Bank Branches of IDBI Federal. As on 31st December 2013, Company issued nearly
5.5 Lakh Policies with a sum assured of over Rs. 32,110.48 crores. Fastest growing new insurance
company by garnering 100 crores as premium.
1.3.6 PRODUCT RANGE OF IDBI FORTIS
IDBI Fortis offers a variety of products targeting every customer right from a 3 months child to a 70
years senior citizen. All the products have been classified majorly under four plans namely
Wealthsurance
Homesurance
Bondsurance
Retiresurance
WEALTHSURANCE
The Wealthsurance Foundation Plan enables the customer to save and build wealth to meet your
financial goals. However, unlike other investment alternatives, it also enables him to achieve his
wealth goals even in the event of unexpected death, accidents, disablement or serious illness. The
Wealthsurance Foundation Plan can ensure that his plans for wealth creation are achieved by
protecting that plan with insurance benefits.
HOMESURANCE
The Homesurance Protection Plan is a reducing term plan, which provides insurance cover equal
to the outstanding balance of your home loan. In the unfortunate event of death of the home loan
borrower, the insurance cover enables repayment of the home loan liability.
BONDSURANCE
Bondsurance is a single premium plan which allows you to make a one-time investment and get a
guaranteed amount on maturity. You can choose a maturity period of 5 or 10 years for your
investment. At the end of the chosen period, you will receive a guaranteed maturity amount.
Besides the guaranteed maturity amount, Bondsurance also provides a life insurance cover. In case
of death before the maturity date, a Death Benefit which is also guaranteed will be paid. Thus you
can get life insurance cover, while earning an assured return on your investment.
RETIRESURANCE
Retiresurance is a pension plan without life cover that allows a longer policy term so that the
customers investments can get the benefit of compounding. The customer has to choose any
vesting age between 40-75 yrs. The vesting age chosen can also be postponed or preponed within
the above range by informing the company 30 days in advance. It is especially for people who
wish to lead a happy and prosperous life even after their retirement.
UNIT LINKED INSURANCE PLANS
Unit linked insurance plan (ULIP) is a life insurance solution that provides the client with the
benefits of protection and flexibility in investment. It is a solution which provides for life insurance
where the policy value at any time varies according to the value of the underlying assets at the
time. The investment is denoted as unit and is represented by the value that it has attained called
as Net Asset Value (NAV).
ULIPs are a category of goal-based financial solutions that combine the safety of insurance
protection with wealth creation opportunities. In ULIPs, a part of the investment goes towards
providing a life cover. The residual portion of the ULIP is invested in a fund which in turn invests
in stocks or bonds; the value of investments alters with the performance of the underlying fund
opted by the customer.
Simply put, ULIPs are structured in such that the protection element and the savings element are
distinguishable, and hence managed according to your specific needs. In this way, the ULIP plan
offers unprecedented flexibility and transparency. ULIPs came into play in 1960s and became very
popular in Western Europe and America. The reason that is attributed to the wide spread popularity
of ULIP is because of the transparency and the flexibility which it offers to the clients. As time
progressed the plans were also successfully mapped along with life insurance needs to retirement
planning .In todays times U insurance planning, financial needs, financial planning.
STRUCTURE OF ULIPs
ULIPs offered by different insurers have varying charge structures. Broadly the different types
of fees and charges are given below. However, the insurers have the right to revise or cancel the
fees and charges over a period of time
Mortality Charge
These are charges to provide for the cost of insurance coverage under the plan. Mortality charges
depend on number of factors such as age, amount of coverage, state of health etc.
Fund Management Charges
These are fees levied for management of the fund(s) and are deducted before arriving at the Net
Asset Value (NAV) .
Policy/ Administration Charges
These are the fees for administration of the plan and levied by cancellation of units. This could
be flat throughout the policy term or vary at a pre-determined rate
Surrender Charges
A surrender charge may be deducted for premature partial or full encashment of units wherever
applicable, as mentioned in the policy conditions.
Fund Switching Charge
Generally, a limited number of fund switches may be allowed each year without charge, with
subsequent switches, subject to a charge. But now a days many insurers offer fund switching free
of cost.
Service Tax Deductions
Before allotment of the units the applicable service tax is deducted from the risk portion of the
premium.
PREMIUM
LESS CHARGE
INVESTMENT
REPRESENTED AS
UNIT LIFE COVER
CHART- Premium back under ULIP

TYPES OF FUNDS UNDER ULIPs
Most insurers offer a wide range of funds to time horizons. Different funds have different risk
profiles. The potential for returns also varies from fund to fund. The following are some of the
common types of funds available along with an indication of their risk characteristics.
General description Nature of investments Risk category

Primarily invested in
Equity Funds company Medium to High
stocks with the general aim
of
capital appreciation.
Income, Fixed Interest and Invested in corporate bonds, Medium

government securities and
Bond Funds other
fixed income instruments.
Sometimes known as
Cash Funds Money Low
Market Funds invested
in
cash, bank deposits and
money
market instruments
Combining equity
Balanced Funds investment Medium
with fixed interest
instruments
Table 1: Types of funds under ULIPs

ADVANTAGES OF ULIPS
ULIP distinguishes itself through the multiple benefits that it provides to the consumer. The plan
is a one stop solution for everything the customers want. Unit Linked Insurance Plans (ULIPs) are
different from traditional plans purely because, they are much more transparent, various charges
are shared with the customer before the sale of the product, so as to enable the customer to make
an informed decision.
Customers have the flexibility to choose their life cover. Also, the customers have the choice of
multiple fund options based on their risk appetite, thereby enabling an investor to make the desired
returns from the investment.
The following are some of the advantages of Unit linked plans:
a. Life protection
b. Investment and Savings
Market linked fund based on risk profile
Switch option
Premium redirection
Automatic Transfer Plan(ATP)
c. Tax Planning
d. Flexibility of cover continuance
e. Transparency
f. Extra protection with riders
Death due to accident
Disability
Critical illness
g. Liquidity
Partial withdrawals during the term
At maturity
h. Variable investment options
i. Premium holiday
j. Allow Top-ups
INDUSTRY PROFILE
1.4.1 INSURANCE
Insurance may be described as a social device to reduce or eliminate risk of loss to life and property.
Under the plan of insurance, a large number of people associate themselves by sharing risks attached
to individuals. The risks which can be insured against include fire, the perils of sea, death and
accidents and burglary. Any risk contingent upon these, may be insured against at a premium
commensurate with the risk involved. Thus, collective bearing of risk is insurance.
1.4.2 CHARACTERISTICS OF INSURANCE
Sharing of risks
Cooperative device
Evaluation of risk
Payment on happening of a special event
The amount of payment depends on the nature of losses incurred.
1.4.3 HISTORY OF INDIAN INSURANCE
Insurance has a long history in India. Life Insurance in its current form was introduced in 1818 when
Oriental Life Insurance Company began its operations in India. General Insurance was however a
comparatively late entrant in 1850 when Triton Insurance company set up its base in Kolkata.
History of Insurance in India can be broadly bifurcated into three eras:
Pre-Nationalization
Nationalization and
Post Nationalization
Life Insurance was the first to be nationalized in 1956. Consolidating the operations of various
insurance companies formed Life Insurance Corporation of India. General Insurance followed suit
and was nationalized in 1973. General Insurance Corporation of India was set up as the controlling
body with New India, United India, National and Oriental as its subsidiaries. The process of opening
the insurance sector was initiated against the background of Economic Reform process, which
commenced from 1991. For this purpose, Malhotra Committee was formed during this year who
submitted their report in 1994 and Insurance Regulatory Development Act (IRDA) was passed in
1999. Resultantly Indian Insurance was opened for private companies and Private Insurance
Company effectively started operations from 2001.

Total life insurance premium in India is projected to grow Rs. 12,30,000 crores by 2010-
11.

Total non-life insurance premium is expected to increase at a CAGR of 25% for the period
spanning from 2008-09 to 2010-11.

With the entry of several low-cost airlines, along with fleet expansion by existing ones and
increasing corporate aircraft ownership, the Indian aviation insurance market is all set to
boom in a big way in coming years.

Home insurance segment is set to achieve a 100% growth as financial institutions have
made home insurance obligatory for housing loan approvals.

Health insurance is poised to become the second largest business for non-life insurers after
motor insurance in next three years.

A booming life insurance market has propelled the Indian life insurance agents into the
Top 10 country list in terms of members
An exclusive club for the highest performing life insurance agents.
1.4.4 CAPITAL REQUIREMENTS AND FOREIGN PARTICIPATION
Minimum capital requirement for direct life and Non-life Insurance company is INR1000 million
and that for reinsurance company is INR2000 million. A maximum 26% foreign equity stake is
allowed in direct insurance and reinsurance companies. In the 2004-05 budget, the Government
proposed for increasing the foreign equity stake to 49%.
1.4.5 LIFE INSURANCE
As is evident from its very name, it deals with insurance of human life. Life insurance
corporation of India a public-sector undertaking has the monopoly in this sector since its
nationalization.
In our wordily life, whenever there is uncertainty, there is an involvement of risk. The instinct for
security against such risk is one of the basic motivating forces determining human attitudes. As a
squeal to this quest for Security, the concept of insurance must have been born.
The urge to provide insurance or protection against the loss of life & property must have prompted
people to make some sort of sacrifice willingly in order to achieve security through
COLLECTIVE CO-OPERATION, in this sense story of insurance is probably as old as story of
mankind.
All life insurance companies in India have to comply with the strict regulations laid out by Insurance
Regulatory and Development Authority of India (IRDA). Therefore, there is no risk in going in for
private insurance players. In terms of being rated for financial strength like international players,
only ICICI Prudential is rated by Fitch India at National Insurer Financial Strength Rating of AAA
(Ind) with stable outlook indicating the highest claims paying ability rating.
The private companies are coming out with better products which are more beneficial to the
customer. Among such products are the ULIPs or the Unit Linked Insurance Plans which offer both
life cover as well as scope for savings or investment options as the customer desires. Further, these
types of plans are subject to a minimum lock-in period of three years to prevent misuse of the
significant tax benefits offered to such plans under the Income Tax Act.
Unlike the mutual fund product that has a very simple cost structure, ULIPs carry a greater number
of costs (administration and mortality), in addition to the others. So comparing ULIPs with mutual
funds is erroneous
Right now there are a total twenty two life insurance companies operating in India, of which one
(Life Insurance Corporation) is a Public Sector Undertaking and the remaining twenty three are all
private sector enterprises.
AEGON Religare Life Insurance

Life Insurance Corporation Of India
Edelweiss Tokio Life Insurance Co. Ltd
Aviva India
Shriram Life Insurance
Bajaj Allianz Life Insurance
Bharti AXA Life Insurance Co Ltd
Birla Sun Life Insurance
Canara HSBC Oriental Bank of Commerce Life Insurance
Star Union Dai-chi Life Insurance
DHFL Pramerica Life Insurance
Future General Life Insurance Co Ltd
HDFC Standard Life Insurance Company Limited
ICICI Prudential Life Insurance Company Limited
IDBI Federal Life Insurance
India First Life Insurance Company
Exide Life Insurance
Kotak Life Insurance
Max Life Insurance
PNB MetLife India Life Insurance
Reliance Life Insurance Company Limited
Sahara Life Insurance
SBI Life Insurance Ltd.
TATA AIG Life Insurance
LITERATURE REVIEW
Till today a lot of research has been done on the Indian insurance industry especially the life
insurance sector. The material for this study was collected from various internet sites, journals and
books by various authors. Similar research has been carried out by analyst who worked on the risk
profile of ULIPs and analysed insurance as an investment option. They say that Life Insurance
Corporation of India (LIC) is still the undisputed leader in the Indian context.
According to Ravi Akula, Asst. Professor, Department of Commerce and Business Management,
Mahatma Gandhi University and Tirupathi Kanchu, Faculty Member, Vaagdevi Institute of
Medical Sciences the insurance sector has changed entirely with the onset of 21st century as it
welcomed many private players. Hence, with the increased competition companies thrive to come
up with a better insurance plans for the people. To overcome the competition, the private players
mainly targeted with ULIP policies over traditional policies. With the advancement in the plans
life based contracts can now be classified into two categories i.e. protection policies in which
benefit is provided in the event of specified event, e.g. term plan and investment policies wherein
the purpose is to enhance the growth of capital by regular or single premiums, e.g. whole life,
universal life and variable life. The ULIP plans enjoyed a tremendous growth from 2007 to 2009,
whereas the Life Fund saw a steady decline, yet the ULIP boomed amazingly well. Life insurance
marketing is one of the most strenuous jobs for those who are involved in the insurance marketing.
It is because of the everlasting conflict between the insurance companies which want to profit the
most and the insured person who wants to get as much compensation as possible from the insurance
company. Commissions for the life insurance companies are very high and they seldom make
profits out of the policies. Also, the insurance policy needs to be transparent so that the potential
customer understands it totally and should not feel that they have been treated unfairly by the
insurance company. The marketing of traditional policies is similar to the marketing of Unit Linked
Insurance Plans (ULIPs). The difference arises due to the allotment of insured premium. In ULIP
policies, some proportion of amount of the premium of a policy holder is invested in the market.
Based on the market trend, the returns are calculated for each premium paid by the policy holder.
According to Mr Kantesha Sanningammanavara, the companies with a better NAV (Net Asset Value)
have a better portfolio. There is every type of player in the market. There are companies which provide
a great rate of return and there are companies that provide very low rate of return. So, it is very essential
to think before investing in any company, even though the services offered might be similar but the
return can be significantly different.
RESEARCH MEHTODOLOGY
Techniques of data collection

Internet Survey
IDBI Documents
The following Methodology has been followed to achieve the objectives of Project:
Developing a right research design and timeline for the project

Collecting secondary data about the insurance industry
Analysis of secondary data
Collection of primary data
Analysis of primary data
Interpretation of the results
Preparation of the report
SOURCES OF DATA
In the data collection method, both the primary data and the secondary data have been collected to meet
the objectives.
Primary data
The primary data was collected by the data provided to me by the company.
Secondary data
The secondary data was collected directly from the companies and their websites and internet
surveys. Also, a lot of similar research studies and journals have been referred to.
RESEARCH DESIGN
A research design is the plan on program me of research. It includes an outline of what the investigator
will do from writing the hypothesis and their operational implications to the final analysis of data.
DATA ANALYSIS
UNIT LINKED INSURANCE PLANS (ULIPs) OF DIFFERENT COMPANIES
IDBI FEDERAL LIFE INSURANCE COMPANY
IDBI FORTIS different variety of schemes and a good range of ULIPs under the flagship banner
Wealthsurance. There are a lot of other ULIPs under Bondsurance, Homesurance and Retiresurance
but as our study is only confined to the study and comparative analysis of ULIPs under
Wealthsurance we would just be discussing about the various plans under Wealthsurance. As
discussed earlier the Wealthsurance Foundation Plan enables the customer to save and build wealth
to meet your financial goals. However, unlike other investment alternatives, it also enables him to
achieve his wealth goals even in the event of unexpected death, accidents, disablement or serious
illness.
The Wealthsurance Foundation Plan can ensure that his plans for wealth creation are achieved by
protecting that plan with insurance benefits. Wealthsurance is one of its kind in India. The company
offer 11 investment options and 8 protection benefits under the plan apart from tax benefits (Source:
www.idbifortis.com)
Under Wealthsurance there are a lot of different funds available which are explained below:
WEALTHSURANCE
Min entry age 30 dys
Max entry age 65 yrs
Min premium 10000
Max maturity age 75 yrs
ADBR, ADB, WOPR, MAJOR DISEASES BENIFIT,
Riders HOSPITAL CASH
BENEFIT, TERMINAL ILLNESS BENEFIT
Min premium payment term 3 yrs
Types of funds EQUITY, NIFTY, Capital Guarantee, Asset Allocator,
GRF, MONTHLY INT A/C, INCOME, LIQUID
As discussed earlier we would be comparing the Unit Linked Insurance Plans (ULIPs) of the
companies selected initially with those of IDBI FORTIS and then make a detailed analysis. This
analysis would be well supported by the primary data analysis and then the final results would be
interpreted. So, here first we would be listing out various ULIPs of the selected companies and
their details. After that we make a detailed comparison with that of the plans under Wealthsurance
of IDBI FORTIS and explain it.
So, following are the details of ULIPs of various companies and the comparative analyses.
IBAJAJ ALLIANZ LIFE INSURANCE
COMPANY
BAJAJ ALLAINZ OFFERS FIVE TYES OF

ULIPs
1. UNIT GAIN PLUS GOLD

2. UNIT GAIN PREMIER
3. CENTURY PLUS
4. NEW UNIT GAIN PLUS
PENSION GUARANTEE
UNIT GAIN PLUS GOLD

UNIT GAIN PREMIER
Min entry age 0 yrs
Min entry age 0 yrs
Max Maturity age 70 yrs
Min premium 12000
Min premium 50000
No of funds 6
No of funds 3
Riders 6(after 18)
Riders NM
CENTURY PLUS
Min entry age 8 yrs NEW UNIT GAIN PLUS
Max entry age 60 yrs Min entry age 0 yrs
Max Maturity age 70 yrs Max entry age 60 yrs
Min premium 25000 Max Maturity age 70 yrs
No of funds 7 Min premium 10000
Riders ADBR No of funds 7
Riders ADBR, WOP
CIBR, FIB, HCB
Min premium payment term 3 yrs PDB
PENSION GUARANTEE
ADBR-Accidental Death Benefit Rider,
Min entry age 45 yrs
CIBR-Critical Illness Benefit Rider,
NM-Not Mentioned,
Max Maturity age NA WOP-Waiver of Premium,
Min premium 25000- FIB-Family Income Benefit,
purchase HCB-Hospital Cash Benefit,
price PDB-Permanent Disability Benefit
No of funds NM
Riders NM
Min premium payment term NM
COMPARITIVE ANALYSIS
I. Wealthsurance only has a allocation charge of only

4% in comparison to 15% in this product
UNIT GAIN PLUS
GOLD II. Max Entry age in Wealthsurance is 65 as against 60
of Unit Gain Gold Plus
III. Wealthsurance has an Min Entry Age of 0 Years

against this product where the entry age is 8 Years.
IV. Min Premium in Wealthsurance is only Ten Thousand
CENTURY
PLUS Rupees in comparison to Twenty Five Thousand
Rupees of this product.
V. In Wealthsurance there is a choice of 5 riders where
as in this product only one rider is available
I. Wealthsurance only has a allocation charge of only

NEW UNIT GAIN PLUS 4% in comparison to 55% in this product
II. Max Entry age in Wealthsurance is 65 as against 60
of Unit Gain Gold Plus
I. Min Premium in Wealthsurance is only Ten Thousand

Rupees in comparison to Fifty Thousand Rupees of
UNIT GAIN PREMIUM this product.
II. Max Entry age in Wealthsurance is 65 as against this
product which has a cut of 60 years.
I. Wealthsurance can be customized for retirement

planning.
II. Customers can opt for a partial withdrawal without
PENSION GUARANTEE any charges post 3 years from his fund value and use
the money as pension. There is no Tax/Charges on the
money withdrawn/taken as pension
LIFE INSURANCE CORPORTAION (LIC) OF
INDIA
LIC OFFERS THREE DIFFERENT TYPES OF ULIPS
a. MARKET PLUS
b. PROFIT PLUS (RP & SP)
c. FORTUNE PLUS
MARKET PLUS PROFIT PLUS(RP&SP)

Min entry age 18 yrs Min entry age 0 yrs
Max entry age 80 yrs Max entry age 65 yrs
Max Maturity age 75 yrs Max Maturity age 70,75 yrs
Min premium 5000 RP Min premium 1000 RP
10000 SP 20000 SP
No of funds 4 No of funds 4
Riders ADBR Riders ADBR, CIBR
Min premium payment term 5 yrs Min premium payment term 3 yrs
FORTUNE PLUS
Min entry age 12 yrs
Min premium 20000
No of funds 4
Riders ADBR
ADBR-Accidental Death Benefit Rider, CIBR-Critical Illness Benefit Rider

COMPARITIVE ANALYSIS
I. Premium allocation charge is 16.5% in this product

whereas Wealthsurance has a charge of Max 4%.
II. In Wealthsurance there is unlimited switching
redirection and partial withdrawal allowed absolutely
MARKET PLUS free of charge.
III. There are no riders available in this product as
against Wealthsurance has a host of riders to choose
from.
IV. After 3 years, we can go for unlimited partial
withdrawals as against in this product there are no
partial withdrawal available
I. Premium allocation charge is 15% min in this product
PROFIT PLUS (RP & SP) II. In Wealthsurance there is unlimited switching
free of charge.
III. There are no riders available in this product as
from.
I. Min Entry age in Wealthsurance is 0 years as against

in this product, it is 12 years
FORTUNE PLUS II. Max entry age in Wealthsurance is 65 years, as
against in this product it is 60 years only.
HDFC STANDARD LIFE INSURANCE COMPANY
HDFC STANDARD LIFE OFEERS FOUR DIFFERENT TYPES

OF ULIPs
a. ENDOWMENT PLUS II
b. ENHANCED LIFE PROTECTION II
c. UNIT LINKED PENSION RP
d. UNIT LINKED PENSION SP
ENDOWMENT PLUS II ENHANCED LIFE

PROTECTION II
Min entry age 18 Min entry age 18
Max entry age 65 Max entry age 45
Max Maturity age 75 Max Maturity age 75
Min premium 12000 Min premium 12000
Riders ADBR, CIBR Riders NO
Min premium payment term TERM Min premium payment term TERM
UNIT LINKED PENSION RP UNIT LINKED PENSION SP

Min premium 12000 Min premium NM
Riders NO Riders NO
Min premium payment term TERM Min premium payment term TERM
ADBR-Accidental Death Benefit Rider, CIBR-Critical Illness Benefit

Rider
COMPARATIVE ANALYSIS
I. Min Entry age in Wealthsurance is 0 years, as

against in this product it is 18 years
II. Premium allocation charge is 40% in this product
ENDOWMENT PLUS II whereas Wealthsurance has a charge of Max 4%.
III. Min Premium in Wealthsurance is 10000 as
against this product.
IV. Min Entry age in Wealthsurance is 0 years, as
against in this product it is 18 years
V. Premium allocation charge is 40% in this product
ENHANCED LIFE PROTECTION VI. Min Premium in Wealthsurance is 10000 as
II against this product. Max entry age in this
product is only 45 years, where as in
Wealthsurance it is 65 years
VII. In Wealthsurance after 3 years unlimited partial
withdrawals are allowed where as in this product
the customer needs to wait till the 5th year.
I. There is no rider available in this product as
against Wealthsurance has a host of riders to
choose from.
II. Allocation charge of 25% on this product and
Wealthsurance has a 4% charge.
UNIT LINKED PENSION RP III. Annuity is taxable whereas all the funds in
Wealthsurance is tax free. Wealthsurance can be
customized to be a tax-free retirement plan.
IV. Post 3 years, customers can also do unlimited
partial withdrawal whenever there is a need for
money without being charged or taxed.
V. Min Premium in Wealthsurance is 10000 as
I. There is no rider available in this product as
against Wealthsurance has a host of riders to
UNIT LINKED PENSION SP choose from.
II. Allocation charge of 6% on this product and
Wealthsurance has a 4% charge.
III. Post 3 years, customers can also do unlimited
partial withdrawal whenever there is a need for
money without being charged or taxed.
IV. Min Premium in Wealthsurance is 10000 as
ICICI PRUDENTIAL LIFE INSURANCE
COMPANY
ICICI PRUDENTIAL OFFERS ELEVEN DIFFERENT TYPES

OF ULIPs
a. LIFE TIME GOLD

b. LIFE LINK SUPER
c. PREMIER LIFE GOLD
d. LIFE TIME PLUS
e. LIFE STAGE
f. SMART KID CHILD PLAN
g. LIFE TIME SUPER PENSION
h. LIFE STAGE RP PRNSION
i. LIFE STAGE RP
j. LIFE STAGE ASSURE
k. INVEST SHEILD LIFE NEW
LIFE TIME GOLD LIFE LINK SUPER

ADBR, Riders NO
Riders CIBR,
WOP Min premium payment term SP
LIFE TIME PLUS

PREMIER LIFE GOLD
Min entry age 0
Min entry age 0 Max entry age 65
Max entry age 65,69 Max Maturity age 75
Max Maturity age 75 Min premium 20000
Min premium 10000 No of funds 7
No of funds 7 ADBR,
ADBR, Riders CIBR
Riders CIBR
WORP Min premium payment term 3 yrs
Min premium payment term 3,5 yrs
LIFE STAGE SMART KID CHILD PLAN
Riders ADBR, CIBR Riders ADBR, CIBR
WOP
Min premium payment term LIFE BASED Min premium payment term 3 yrs
LIFE TIME SUPER PENSION LIFE STAGE RP PENSION

Max Maturity age 45 yrs Max Maturity age 50-80 yrs
vesting age Vesting age
Riders ADBR, CIBR Riders NO
LIFE STAGE RP LIFE STAGE ASSURE

Max entry age MAX TERM Max entry age 65
75
Riders ADBR, CIBR Riders ADBR, CIBR
INVEST SHIELD LIFE NEW

ADBR-Accidental Death Benefit Rider,
Min entry age 0 CIBR-Critical Illness Benefit Rider,
Max entry age 65 NM-Not Mentioned,
Max Maturity age 75 WOP-Waiver of Premium
Min premium 12000 SP-Single Premium
No of funds 6
Riders NM
COMPARATIVE ANALYSIS
I. Premium allocation charge is premium based in this

product where as Wealthsurance has a charge of Max
4% and with higher premium the allocation charge
LIFE TIME GOLD decreases.
II. Min Premium in Wealthsurance is only Rs.10000 as
against in this product it is 20000
III. In Wealthsurance there is unlimited switching
free of charge.
I. Premium allocation charge is 20% in this product
LIFE LINK SUPER against in this product it is 20000
free of charge.
whereas Wealthsurance has a charge of Max 4%
II. There are no riders available in this product as
PREMIER LIFE
GOLD against Wealthsurance has a host of riders to choose
from.
free of charge
LIFE TIME PLUS against in this product it is 20000
free of charge.
LIFE STAGE RP redirection and partial withdrawal allowed absolutely
free of charge.
IV. There are only 2 riders available in this product as
from.
LIFE STAGE III. In Wealthsurance there is unlimited switching
free of charge.
IV. There are only 2 riders available in this product as
from.
SMART KID CHILD II. Min Premium in Wealthsurance is only Rs.10000 as
PLAN
III. Wealthsurance can be beautifully customized to be a
child plan by just adding wavier of premium.
I. Premium payable in this product is Rs.75000 as

against in Wealthsurance it is only Rs.10000
II. There are only two riders available in this product as
from.
III. Allocation charge of 20% on this product and
LIFE TIME SUPER Wealthsurance has a 4% charge.
PENSION IV. Annuity is taxable whereas all the funds in
customized to be a tax-free retirement plan. 4. Post 3
years customers can also do unlimited partial
withdrawal whenever there is a need for money
without being charged or taxed.
I. Premium payable in this product is Rs.15000 as

against in Wealthsurance it is only Rs.10000
II. There are only two riders available in this product as
LIFE STAGE PR from.
PENSION III. Annuity is taxable whereas all the funds in
customized to be a tax-free retirement plan.
IV. Post 3 years, customers can also do unlimited partial
withdrawal whenever there is a need for money with
being charged or taxed, absolutely free.
I. In Wealthsurance partial withdrawals are allowed
right after 3 years where as in this product the
customer cannot touch his funds till 7th year.
II. First year premium is utilized towards Guaranteed
LIFE STAGE additions and returned on maturity as a Guarantee.
ASSURE III. If you surrender the policy the GA component is not
given to the customer and only the FV which gets
accumulated from 2nd premium is returned after
deducting surrender charges, whereas in
Wealthsurance there will not be any other charges
apart from surrender charges that too if applicable
IV. Premium allocation charge is 20% in this product

V. Min Premium in Wealthsurance is only Rs.10000 as
VI. In Wealthsurance there is unlimited switching
INVEST SHEILD LIFE redirection and partial withdrawal allowed absolutely
NEW free of charge.
VII. There are only 2 riders available in this product as
from.
VIII. This product has no top up facility where as in
Wealthsurance tops are allowed any time.
IDBI FEDERAL is a new company with over just over Six year of operations and so we
have very less information about its past performance. Therefore not many negatives can
be found with the company in regard to the Unit Linked Insurance Plans. Some general
demerits with regard to the distribution network and marketing strategies have been
mentioned after the analysis of the primary data.
As a part of this comparative analysis we have also compared the performance of ULIPs
of a selected fund since the last one year (as the data of IDBI FEDERAL is limited only
to the last one year). The comparison has been carried out in the next page.
PERFORMANCE OF ULIPs OF THE SELECTED COMPANIES
Here in order to compare the performances of the ULIPs of the selected five companies with that
of IDBI FEDERAL we have selected a particular type of fund called equity growth funds. The
reason for selecting equity growth fund is that we would be very clearly able to understand the
effect of market slowdown on these companies. Here we have considered the Net Asset Values
(NAV) of the equity growth funds from August 1st 2016 to June 1st 2017.We have then compared
the maximum and minimum NAVs during the period and found out the percentage change for the
NAVs observed for the equity funds of the respective selected companies selected companies.
We have calculated the average NAV for every month (from August 1st 2016 to June 1st 2017)
for all the companies and then plotted them on graphs. We have then found out the extent to which
each company was affected due to the market slowdown.
Date NAV
NAV
Aug-16 20.1 23
Sep-16 20.34 22.5

Oct-16 20.58
22
Nov-16 20.95
Dec-16 20.41 21.5
Jan-17 20.51
21
Feb-17 21.43
Mar-17 22.21 20.5
Apr-17 22.71
20
May-17 22.81
Jun-17 22.09 19.5
Jun-16 Aug-16 Oct-16 Nov-16 Jan-17 Mar-17 Apr-17 Jun-17 Aug-17
Figure 1: NAVs of LIC

NAV
Date NAV
4621
Aug-16 39.89
45
Sep-16 40.85
20.5
Oct-16 40.85 44
Nov-16 40.41 4320
Dec-16 38.8
42
Jan-17 38.93
19.5
41
Feb-17 41.6
Mar-17 42.44 40
19
Apr-17 44.1 39
May-17 44.75
18.5
38
Jun-17 45.64 Jun-16
Jun-16 Aug-16
Aug-16 Oct-16
Oct-16 Nov-16
Nov-16 Jan-17
Jan-17 Mar-17
Mar-17 Apr-17
Apr-17 Jun-17 Aug-17
Figure 2: NAVs of Bajaj Allianz
NAV
Date NAV
21
Aug-16 18.68
Sep-16 19.04
20.5
Oct-16 19.24
Nov-16 19.26
20
Dec-16 19.07
Jan-17 18.85
19.5
Feb-17 19.49
Mar-17 19.51
19
Apr-17 20.04
May-17 20.18
18.5
Jun-17 20.59 Jun-16 Aug-16 Oct-16 Nov-16 Jan-17 Mar-17 Apr-17 Jun-17 Aug-17
Figure 3: NAVs of HDFC Standard Life

NAV
Date NAV
16.3
Aug-16 15.29
16.2
Sep-16 15.42 16.1
Oct-16 15.6 16
Nov-16 15.64 15.9
Dec-16 16.02 15.8
Jan-17 15.9 15.7
Feb-17 15.95 15.6
Mar-17 15.86 15.5
Apr-17 16.02 15.4

15.3
May-17 16.04
15.2
Jun-17 16.18 Jun-16 Aug-16 Oct-16 Nov-16 Jan-17 Mar-17 Apr-17 Jun-17 Aug-17
Figure 4: NAVs of ICICI Prudential Life Insurance
Date NAV NAV

Aug-16 21.89 26
Sep-16 22.28 25.5
Oct-16 22.5 25
Nov-16 22.46 24.5
Dec-16 21.25 24
Jan-17 21.35 23.5
Feb-17 23.12 23
Mar-17 23.67 22.5
Apr-17 24.49 22
May-17 25.11 21.5
Jun-17 25.47 21
Jun-16 Aug-16 Oct-16 Nov-16 Jan-17 Mar-17 Apr-17 Jun-17 Aug-17
Figure 5: NAVs of IDBI Federal Life Insurance

Chart Title
30
25
20
15
10
LIC Bajaj HDFC ICICI IDBI
Figure 6: Overall Comparison
It can be observed that there was a significant drop in the month of November 2016, due to
demonetisation. But the market gained momentarily in no time so the NAV (Net Asset Value)
increased and got stable as it was before.
COMPARISON OF DIFFERENT PORTFOLIOS:
The companies: HDFC Standard Life, Bajaj Alliance, ICICI Prudential, LIC, IDBI Federal Life
Insurance Co
To move further let us first get acquainted with what is portfolio:
A portfolio is a collection of investments held by an institution or a private individual. Holding a

portfolio is part of an investment and risk-limiting strategy called diversification. By owning
several assets, certain types of risk (in particular specific risk) can be reduced. The aim of Portfolio
Management is to achieve the maximum return from a portfolio which has been delegated to be
managed by an individual manager or financial institution. The manager has to balance the
parameters which define a good investment i.e. security, liquidity and return. The goal is to obtain
the highest return for the client of the managed portfolio. While doing the portfolio management
of customers it is ensured that the portfolio has multiple objectives and achieves a sound balance
between the competing objectives, which are:
Safety of investment
Stable current returns
Appreciation in capital value
Liquidity
Tax planning
Minimizing Risk
Diversification
Portfolio of HDFC Standard Life
Detailed Portfolio
Market Prev
Weighting Number
Name Instrument Sector Value Number
(%) of Shares
(mil) of Shares
Stock
Equity -
Others - 12.8100 44.2131 - -
Undefined
HDFC Bank Ltd Equity BANKS 9.0500 31.2356 258959 290926
CONSUMER NON
ITC Ltd Equity 5.5100 19.0175 786985 955448
DURABLES
Infosys Ltd Equity SOFTWARE 4.6400 16.0147 158468 227895
PETROLEUM
Reliance Industries Ltd Equity 4.5500 15.7041 145086 174119
PRODUCTS
ICICI Bank Ltd Equity BANKS 4.0700 14.0474 550231 0
CONSTRUCTION
Larsen & Toubro Ltd Equity 2.8000 9.6641 71633 83045
PROJECT
Tata Motors Ltd Equity AUTO 2.6400 9.1118 193047 280984
Maruti Suzuki India Ltd Equity AUTO 2.5100 8.6631 16285 16784
Kotak Mahindra Bank Ltd Equity BANKS 2.1400 7.3861 102628 113912
Tata Consultancy Services

Equity SOFTWARE 1.9200 6.6268 28014 31881
Ltd
IndusInd Bank Ltd Equity BANKS 1.8500 6.3852 57633 82511
State Bank of India Equity BANKS 1.8200 6.2816 251065 274017
Mahindra & Mahindra Ltd Equity AUTO 1.6800 5.7984 48944 34431
Sun Pharmaceuticals
Equity PHARMACEUTICALS 1.4800 5.1081 81082 104584
Industries Ltd
Oil & Natural Gas Corp

Equity OIL 1.3400 4.6249 241701 275349
Ltd
Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
Shree Cement Ltd Equity CEMENT 1.3000 4.4869 3045 4012
Power Grid Corp Of India

Equity POWER 1.2000 4.1417 225708 192319
Ltd
HCL Technologies Ltd Equity SOFTWARE 1.1900 4.1072 49607 63054
NON - FERROUS
Vedanta Ltd Equity 1.1600 4.0037 185227 186565
METALS
Bharat Petroleum Corp PETROLEUM

Equity 1.1400 3.9347 61914 77029
Ltd PRODUCTS
INDUSTRIAL CAPITAL
Bharat Electronics Ltd Equity 1.1100 3.8311 27862 31336
GOODS
Divi's Laboratories Ltd Equity PHARMACEUTICALS 1.1000 3.7966 48445 53315
Hindustan Petroleum Corp PETROLEUM

Equity 1.0700 3.6931 83686 96847
Ltd PRODUCTS
Yes Bank Ltd Equity BANKS 1.0000 3.4515 29845 41244
Eicher Motors Ltd Equity AUTO 0.9700 3.3479 1536 1777
Coal India Ltd Equity MINERALS/MINING 0.9400 3.2444 108145 112900
UltraTech Cement Ltd Equity CEMENT 0.9300 3.2099 9876 11058
Bajaj Auto Ltd Equity AUTO 0.9100 3.1408 11932 0
LIC Housing Finance Ltd Equity FINANCE 0.8900 3.0718 54883 81015
Wipro Ltd Equity SOFTWARE 0.7900 2.7266 57470 68317
Tata Communications Ltd Equity TELECOM - SERVICES 0.7500 2.5886 41246 70246
CONSUMER NON
Hindustan Unilever Ltd Equity 0.7500 2.5886 31326 0
DURABLES
Zee Entertainment MEDIA AND

Equity 0.7400 2.5541 56375 59145
Enterprises Ltd ENTERTAINMENT
Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
Adani Ports & Special

Equity TRANSPORTATION 0.7300 2.5196 93856 124769
Economic Zone Ltd
Hero MotoCorp Ltd Equity AUTO 0.7200 2.4850 8165 11244
Bharti Airtel Ltd Equity TELECOM - SERVICES 0.7000 2.4160 79045 92010
CG Power & Industrial INDUSTRIAL CAPITAL

Equity 0.6900 2.3815 401602 398398
Solutions Ltd GOODS
NON - FERROUS
Hindustan Zinc Ltd Equity 0.6900 2.3815 93246 156138
METALS
HealthCare Global HEALTHCARE

Equity 0.6900 2.3815 96222 114586
Enterprises Ltd SERVICES
CONSUMER NON
Godrej Industries Ltd Equity 0.6800 2.3470 54568 70009
DURABLES
Gujarat State Petronet

Equity GAS 0.6600 2.2780 163002 171788
Ltd
Sanofi India Ltd Equity PHARMACEUTICALS 0.6400 2.2089 5137 5982
CONSTRUCTION
Engineers India Ltd Equity 0.6200 2.1399 141715 0
PROJECT
CONSUMER NON
Dabur India Ltd Equity 0.5900 2.0364 73211 93909
DURABLES
PETROLEUM
Indian Oil Corp Ltd Equity 0.5900 2.0364 62647 0
PRODUCTS
HeidelbergCement India
Equity CEMENT 0.5900 2.0364 185545 214986
Ltd
Cadila Healthcare Ltd Equity PHARMACEUTICALS 0.5600 1.9328 54194 67749
UPL Ltd Equity PESTICIDES 0.5500 1.8983 29340 0
Tata Steel Ltd Equity FERROUS METALS 0.5400 1.8638 47637 0
CONSUMER NON
Asian Paints Ltd Equity 0.5300 1.8293 20529 29681
DURABLES
Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
Total Stock 89.5200 308.9740
Bond
7.61% GOI Mat 09-May- Bond -

- 1.2300 4.2453 - -
2030 (7.6100%) Gov't/Treasury
8.97% GOI Mat 05-Dec- Bond -

- 1.0100 3.4860 - -
8.15% GOI Mat 24-Nov- Bond -

- 0.9200 3.1753 - -
9.20% GOI Mat 30-Sep- Bond -

- 0.5800 2.0018 - -
Power Finance Bond -

- 0.4600 1.5877 - -
Corporation Ltd Corporate Bond
Power Grid Corporation of Bond -

- 0.4400 1.5186 - -
India Ltd Corporate Bond
Bond -
LIC Housing Finance Ltd - 0.4200 1.4496 - -
Corporate Bond
Bond -
Others - 0.4100 1.4151 - -
Undefined
Bond -
Others - 0.3600 1.2425 - -
Gov't/Treasury
Mahindra Vehicle Bond -

- 0.3300 1.1390 - -
Manufacturers Ltd Corporate Bond
8.30% GOI Mat 31-Dec- Bond -

- 0.3100 1.0700 - -
Housing Development Bond -

- 0.1500 0.5177 - -
Finance Corporation Ltd Corporate Bond
Total Bond 6.6200 22.8486

Portfolio Summary 31/12/2016
Total Market Value (mil)
345.1452 INR
Top 10 Equity Holding(%)

39.8300
Market Capital (mil)

11450.6
Number of Holdings
65
Number of Stock Holdings

51
Number of Bond Holdings

12
Number of Holdings (S)

0
Number of Stock Holdings (S)

0
Number of Bond Holdings (S)

0
Earnings Yield
0.0502
Book Value Yield

0.3712
Revenue Yield
0.5255
Asset Allocation
Type % Net
Stock 91.8794
Bond 6.6200
Cash 1.5006
Sector Weightings
Portfolio of LIC:
Detailed Portfolio
Weighting Market Value N

Name Instrument Sector
(%) (mil) of
Stock
ICICI Bank Ltd Equity BANKS 7.8177 272.8990
State Bank of India Equity BANKS 7.5441 263.3480
Bharti Airtel Ltd Equity TELECOM - SERVICES 6.3579 221.9420
Punjab National Bank Equity BANKS 5.1105 178.3960 1
NTPC Ltd Equity POWER 4.9106 171.4200 1
Tech Mahindra Ltd Equity SOFTWARE 4.4954 156.9250
Bank of India Equity BANKS 4.4487 155.2940 1
Power Grid Corp Of India Ltd Equity POWER 4.2456 148.2040
Tata Motors Ltd Class A Equity AUTO 4.1214 143.8710
Larsen & Toubro Ltd Equity CONSTRUCTION PROJECT 4.0347 140.8420
Wipro Ltd Equity SOFTWARE 3.8934 135.9110
Infosys Ltd Equity SOFTWARE 3.8869 135.6840

(%) (mil) of
Bank of Baroda Equity BANKS 3.8728 135.1910
Tata Chemicals Ltd Equity CHEMICALS 3.1171 108.8130
Bharat Forge Ltd Equity INDUSTRIAL PRODUCTS 2.3330 81.4390
Prestige Estates Projects Ltd Equity CONSTRUCTION 2.2027 76.8930
Supreme Industries Ltd Equity INDUSTRIAL PRODUCTS 2.0446 71.3720
Sun Pharmaceuticals Industries Ltd Equity PHARMACEUTICALS 2.0103 70.1760
Power Finance Corp Ltd Equity FINANCE 1.9893 69.4430
PI Industries Ltd Equity PESTICIDES 1.9659 68.6270
Coal India Ltd Equity MINERALS/MINING 1.9074 66.5830
Dabur India Ltd Equity CONSUMER NON DURABLES 1.7198 60.0360
Aurobindo Pharma Ltd Equity PHARMACEUTICALS 1.7133 59.8070
Tata Power Co Ltd Equity POWER 1.6113 56.2460
Axis Bank Ltd Equity BANKS 1.4828 51.7620
Ipca Laboratories Ltd Equity PHARMACEUTICALS 1.3830 48.2790
Tata Steel Ltd Equity FERROUS METALS 1.3273 46.3330
Cadila Healthcare Ltd Equity PHARMACEUTICALS 1.1919 41.6070
SKF India Ltd Equity INDUSTRIAL PRODUCTS 1.1727 40.9380
KPIT Technologies Ltd Equity SOFTWARE 1.0856 37.8960

(%) (mil) of
Navin Fluorine International Ltd Equity CHEMICALS 0.9894 34.5380
AIA Engineering Ltd Equity INDUSTRIAL PRODUCTS 0.8614 30.0700
Hero MotoCorp Ltd Equity AUTO 0.8584 29.9640
Bajaj Electricals Ltd Equity CONSUMER DURABLES 0.5582 19.4840
Sanofi India Ltd Equity PHARMACEUTICALS 0.5384 18.7940
Total Stock 98.8035 3449.0270
Cash
CBLO Cash - Collateral - 1.7026 59.4350
Net Receivables / (Payables) Cash - -0.5059 -17.6600
Total Cash 1.1967 41.7750
Grand Total 100 3490.8020

3,490.8020 INR

53.0866

611103
Number of Holdings (L)

36
Number of Stock Holdings (L)

35
Number of Bond Holdings (L)

0

1

0

0
Earnings Yield
0.0492
Book Value Yield

0.6081
Revenue Yield
0.6175
Asset Allocation
Type % Net
Stock 98.8033
Cash 1.1967
Sector Weightings
Portfolio of Bajaj Allianz:
Detailed Portfolio
Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
Stock
HDFC Bank Ltd Equity BANKS 5.7375 191.2278 1168731 1371745
NON - FERROUS
Hindalco Industries Ltd Equity 4.9804 165.9923 8270666 9044364
METALS
Yes Bank Ltd Equity BANKS 4.5334 151.0957 1055617 1078563
CONSUMER NON
ITC Ltd Equity 4.5056 150.1695 4816212 5266116
DURABLES
Housing Development
Equity FINANCE 3.4436 114.7736 731112 671468
Finance Corp Ltd
Maruti Suzuki India Ltd Equity AUTO 3.3307 111.0090 153944 176737
Kotak Mahindra Bank

Equity BANKS 2.9405 98.0052 1014494 871390
Ltd
IndusInd Bank Ltd Equity BANKS 2.9051 96.8261 653921 745541
Tata Motors Ltd Equity AUTO 2.7427 91.4136 1919848 1966301
ICICI Bank Ltd Equity BANKS 2.6384 87.9374 2693747 4081637
Infosys Ltd Equity SOFTWARE 2.6142 87.1293 891759 815171
PETROLEUM
Reliance Industries Ltd Equity 2.3644 78.8029 587774 563416
PRODUCTS
HCL Technologies Ltd Equity SOFTWARE 2.3236 77.4428 896070 898342

Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
CONSTRUCTION
Larsen & Toubro Ltd Equity 2.2836 76.1110 432277 753098
PROJECT
Hero MotoCorp Ltd Equity AUTO 2.2661 75.5285 201654 218565

Equity OIL 2.2263 74.2019 4192195 3102659
Ltd
Mphasis Ltd Equity SOFTWARE 2.1805 72.6730 1184468 1370497
Tech Mahindra Ltd Equity SOFTWARE 2.1671 72.2293 1852033 637792
CONSUMER NON
Nestle India Ltd Equity 2.1520 71.7246 107936 113183
DURABLES
Pfizer Ltd Equity PHARMACEUTICALS 1.9344 64.4732 386936 404292
CONSUMER NON
Akzo Nobel India Ltd Equity 1.8522 61.7318 344572 353085
DURABLES
MEDIA AND
Sun TV Network Ltd Equity 1.7895 59.6428 747404 769798
ENTERTAINMENT
National Aluminium Co NON - FERROUS

Equity 1.6477 54.9161 8129701 8714698
Ltd METALS
BASF India Ltd Equity CHEMICALS 1.6243 54.1373 393554 408132
MRF Ltd Equity AUTO ANCILLARIES 1.5858 52.8537 8062 8413
CONSUMER NON
Asian Paints Ltd Equity 1.5399 51.3250 445839 451239
DURABLES
CONSUMER NON
Hindustan Unilever Ltd Equity 1.4056 46.8470 439053 451826
DURABLES
Godrej Consumer CONSUMER NON

Equity 1.3719 45.7255 252411 269962
Products Ltd DURABLES
Wipro Ltd Equity SOFTWARE 1.3713 45.7061 853522 757760
INDUSTRIAL
AIA Engineering Ltd Equity 1.3680 45.5954 309741 329795
PRODUCTS
Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
Idea Cellular Ltd Equity TELECOM - SERVICES 1.1701 38.9992 4874901 5130903
Johnson Controls -
CONSUMER
Hitachi Air Conditioning Equity 1.0203 34.0049 162890 167829
DURABLES
India Ltd
Motherson Sumi
Equity AUTO ANCILLARIES 1.0199 33.9941 754503 829861
Systems Ltd
Grasim Industries Ltd Equity CEMENT 0.9041 30.1338 260887 163578

Equity GAS 0.8484 28.2768 1659435 1877247
Ltd
Automotive Axles Ltd Equity AUTO ANCILLARIES 0.7352 24.5033 332971 341502
Hindustan Petroleum PETROLEUM

Equity 0.6719 22.3924 404049 687140
Corp Ltd PRODUCTS
Bayer CropScience Ltd Equity PESTICIDES 0.6533 21.7738 47791 40712
Dr Reddy's Laboratories
Equity PHARMACEUTICALS 0.6500 21.6632 85834 28654
Ltd
Lupin Ltd Equity PHARMACEUTICALS 0.5306 17.6841 152318 140404
MEDIA AND
Jagran Prakashan Ltd Equity 0.5178 17.2572 961673 995170
ENTERTAINMENT
Indraprastha Gas Ltd Equity GAS 0.5088 16.9590 157854 0
Ramco Cements Ltd Equity CEMENT 0.5016 16.7187 230873 149084
Power Finance Corp Ltd Equity FINANCE 0.3769 12.5614 940577 817893
Procter & Gamble

CONSUMER NON
Hygiene and Health Care Equity 0.3541 11.8013 15838 15878
DURABLES
Ltd
Bharti Airtel Ltd Equity TELECOM - SERVICES 0.3299 10.9955 295935 296685
PTC India Financial

Equity FINANCE 0.2369 7.8971 1790726 1795266
Services Ltd
Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
CONSUMER NON
Dabur India Ltd Equity 0.2267 7.5560 269905 0
DURABLES
WABCO India Ltd Equity AUTO ANCILLARIES 0.1649 5.4960 9433 18179
Mahindra & Mahindra

Equity AUTO 0.1259 4.1952 29607 42216
Ltd
GAIL (India) Ltd Equity GAS 0.0509 1.6968 40985 942757
Total Stock 87.4245 2913.8072
Bond
182 Days Tbill (MD Bond -

- 0.7366 24.5516 2500000 2500000
21/09/2017) Gov't/Treasury
364 Days T-Bill (MD Bond -

- 0.2501 8.3359 870000 870000
91 Days Tbill (MD Bond -

- 0.1691 5.6373 565000 565000
Total Bond 1.1558 38.5248
Cash
CBLO (MD 01/06/2017) Cash - Collateral - 2.8230 94.0900 940900000 0
Net Current Assets Cash - 0.0728 2.4254 - -
AXIS BANK LTD CD (MD Cash - CD/Time

- 0.0618 2.0611 210000 210000
11/09/2017) Deposit
INDUSIND BANK LTD CD Cash - CD/Time

- 0.0580 1.9323 198000 198000
(MD 13/10/2017) Deposit
IndiaBulls Housing Cash -

Finance Limited CP (MD Commercial - 0.0030 0.1000 10000 10000
02/06/2017) Paper
Total Cash 3.0186 100.6088

3,332.9400 INR

37.7579

8239.1
Number of Holdings
61

51

2

0

0

0
Earnings Yield
0.0420
Book Value Yield

0.3356
Revenue Yield
0.4972
Asset Allocation
Type % Net
Stock 95.8219
Bond 0.9867
Cash 3.1913
Sector Weightings
Portfolio of ICICI Prudential Life Insurance:
Detailed Portfolio
Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
Stock
Others (less than Equity -

- 11.9300 - - -
0.80%) Undefined
PETROLEUM
Reliance Industries Ltd Equity 6.8900 - - -
PRODUCTS
CONSUMER NON
ITC Ltd Equity 6.6100 - - -
DURABLES
Infosys Ltd Equity SOFTWARE 6.0700 - - -
ICICI Bank Ltd Equity BANKS 6.0400 - - -
Housing Development
Equity FINANCE 5.4200 - - -
Finance Corp Ltd
Tata Consultancy
Equity SOFTWARE 5.2000 - - -
Services Ltd
Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
HDFC Bank Ltd Equity BANKS 4.8400 - - -
CONSTRUCTION
Larsen & Toubro Ltd Equity 3.7900 - - -
PROJECT
Bharti Airtel Ltd Equity TELECOM - SERVICES 3.3100 - - -
Mahindra & Mahindra

Equity AUTO 2.3300 - - -
Ltd

Equity OIL 2.2600 - - -
Ltd
Dr Reddy's
Equity PHARMACEUTICALS 2.2300 - - -
Laboratories Ltd
State Bank of India Equity BANKS 2.0300 - - -
Maruti Suzuki India Ltd Equity AUTO 2.0100 - - -
HCL Technologies Ltd Equity SOFTWARE 1.9600 - - -
Lupin Ltd Equity PHARMACEUTICALS 1.9300 - - -
Tata Motors Ltd Class A Equity AUTO 1.9200 - - -
Gujarat Mineral
Equity MINERALS/MINING 1.9100 - - -
Development Corp Ltd
Hinduja Global
Solutions Ltd
Supreme Infrastructure
Equity CONSTRUCTION 1.8100 - - -
India Ltd
Axis Bank Ltd Equity BANKS 1.6200 - - -
Sun Pharmaceuticals
Industries Ltd
CONSUMER NON
Aditya Birla Nuvo Ltd Equity 1.5800 - - -
DURABLES
Wipro Ltd Equity SOFTWARE 1.3500 - - -

Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
Bank of Baroda Equity BANKS 1.2600 - - -
Hero MotoCorp Ltd Equity AUTO 1.2300 - - -
CONSUMER NON
United Spirits Ltd Equity 1.2200 - - -
DURABLES

Equity GAS 1.0600 - - -
Ltd
IndusInd Bank Ltd Equity BANKS 1.0000 - - -
NTPC Ltd Equity POWER 0.9800 - - -
NMDC Ltd Equity MINERALS/MINING 0.9500 - - -
Clariant Chemicals
Equity CHEMICALS 0.9300 - - -
(India) Ltd
Bajaj Auto Ltd Equity AUTO 0.9100 - - -
LIC Housing Finance

Ltd

Equity 0.8400 - - -
Ltd PRODUCTS
Total Stock 99.7800 -
Other
Unidentified
Net Current Asset - 0.1700 - - -
Holding
Unidentified
Cash & CBLO - 0.0500 - - -
Holding
Total Other 0.2200 -
Grand Total 100 -

18,884.9300 INR

32.3275

983280
Number of Holdings (L)

72
Number of Stock Holdings (L)

52
Number of Bond Holdings (L)

13

42

42

0
Earnings Yield
0.0487
Book Value Yield

0.4402
Revenue Yield
0.6773
Avg Credit Quality

AA
Yield to Maturity
7.6200
Modified Duration
1.7200
Asset Allocation
Type % Net
Stock 27.1972
Bond 23.2013
Cash 49.6015
Sector Weightings
Portfolio of IDBI Federal Life Insurance Company:
Detailed Portfolio
Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
Stock
Others (less than Equity -

- 11.9800 - - -
0.80%) Undefined
PETROLEUM
Reliance Industries Ltd Equity 6.8600 - - -
PRODUCTS
CONSUMER NON
ITC Ltd Equity 6.6200 - - -
DURABLES
Infosys Ltd Equity SOFTWARE 6.0800 - - -

Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
ICICI Bank Ltd Equity BANKS 6.0100 - - -
Housing Development
Finance Corp Ltd
Tata Consultancy
Services Ltd
HDFC Bank Ltd Equity BANKS 4.8600 - - -
CONSTRUCTION
Larsen & Toubro Ltd Equity 3.7700 - - -
PROJECT
Bharti Airtel Ltd Equity TELECOM - SERVICES 3.3100 - - -
Mahindra & Mahindra

Equity AUTO 2.3400 - - -
Ltd

Equity OIL 2.2700 - - -
Ltd
Dr Reddy's
Laboratories Ltd
State Bank of India Equity BANKS 2.0200 - - -
Maruti Suzuki India Ltd Equity AUTO 2.0000 - - -
HCL Technologies Ltd Equity SOFTWARE 1.9700 - - -
Lupin Ltd Equity PHARMACEUTICALS 1.9500 - - -
Tata Motors Ltd Class A Equity AUTO 1.9400 - - -
Hinduja Global
Solutions Ltd
Gujarat Mineral
Equity MINERALS/MINING 1.8900 - - -
Development Corp Ltd
Supreme Infrastructure
Equity CONSTRUCTION 1.8200 - - -
India Ltd
Axis Bank Ltd Equity BANKS 1.6200 - - -

Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
Sun Pharmaceuticals
Industries Ltd
CONSUMER NON
Aditya Birla Nuvo Ltd Equity 1.5700 - - -
DURABLES
Wipro Ltd Equity SOFTWARE 1.3400 - - -
Hero MotoCorp Ltd Equity AUTO 1.2400 - - -
Bank of Baroda Equity BANKS 1.2300 - - -
CONSUMER NON
United Spirits Ltd Equity 1.2200 - - -
DURABLES

Equity GAS 1.0600 - - -
Ltd
NTPC Ltd Equity POWER 1.0100 - - -
IndusInd Bank Ltd Equity BANKS 0.9800 - - -
Bajaj Auto Ltd Equity AUTO 0.9700 - - -
Clariant Chemicals
Equity CHEMICALS 0.9500 - - -
(India) Ltd
NMDC Ltd Equity MINERALS/MINING 0.9400 - - -
LIC Housing Finance

Ltd

Equity 0.8300 - - -
Ltd PRODUCTS
Total Stock 99.8500 -
Other
Unidentified
Net Current Asset - 0.1500 - - -
Holding
Total Other 0.1500 -

Market Prev
Weighting Number
(%) of Shares
(mil) of Shares
Grand Total 100 -

0.0000 INR

50.4300

8002.59
Number of Holdings
37
36

0

0

0

0
Earnings Yield
0.0734
Book Value Yield

0.4573
Revenue Yield
0.8071
Asset Allocation
Type % Net
Stock 99.8500
Other 0.1500
Sector Weighting
Companies HDFC LIC Bajaj Allianz ICICI IDBI Federal

Standard Life Prudential Life Insurance
Company
Life Insurance
Return .0502 .0492 .0420 .0487 .0734
It can be observed that the IDBI Federal Life Insurance Company being the newest entrant has
the highest return in comparison to other companies. It is possible only due to efficient Portfolio
Management. The company has been successful in allocating the right number of funds to the
right industry based on the risk and return of every industry. Therefore, it can be concluded that
IDBI Federal Life Insurance Company is worthy to invest in.
OBSERVATIONS
After interacting with several people during the project while selling policies to some of them
following points came to light:
1. Lack of awareness about the products.
Even though the number of asset management companies and insurance companies along with
investment schemes available has been increasing, it was seen that still many people dont know
about mutual funds or ULIP plans in Insurance. People were found to be knowledgeable about
the post office schemes and other traditional investment products, but not much about the modern
plans of investment.
2. Conservative attitude
Conservative attitude of the investors puts up a restriction on investments in mutual funds and life
Insurance. It was seen that investors have some misconceptions regarding the products. People
think that mutual funds are very risky and life insurance has some hidden costs involved. So, they
invest in government bonds and fixed deposits.
3. Tax benefit
Out of the various cases handled it was seen that many people invest just to save tax under section
80 C. They were not very picky in choosing the products for investment, there main objective was
to get tax benefit. Even after investing they are not very concerned about it. So, its easy to pitch
tax savings products to people in the months of February and March.
4. Peer pressure
It was found that some people are very dogmatic and they want to invest just because of peer
pressure. Even if the product is not matching his requirements he wants this product in his
portfolio just because his friend or family has that product
5. Brand name
It takes years to make a big brand in the market. HDFC gave good returns over a period
consistently and has occupied a position of trust in the minds of individual. Once a company has
a brand name, its products then sells like Hot cakes. The more the trust, the easier it is for
companies to collect higher revenues. Lack of Brand Awareness IDBI Federal Life Insurance
Company. The Biggest factor hindering successful growth of IDBI Federal Life Insurance is the
lack of awareness among the target customers and the consequent lack of trust when it comes to
investing money in view of other more reliable options like LIC, ICICI Prudential etc. In spite of
most insurance companies having similar plans, people prefer to go for reliability over
profitability.
RECOMMENDATIONS

There is a great future of the life insurance sector in India as 80% of the Indian population
is still without life cover and people are just now coming in response to the awareness
campaigns being carried out by almost all the insurance companies.

The company should concentrate more on advertising and promotion.

They can hold contests with the distributors and should advertise these contests.

Regular print advertisements should come in the major dailies of the country, since per
our survey print media is the most popular instrument for the promotion and advertising
of mutual funds.

Digital marketing and especially insurance marketing strategy should include an
integrated solution for web presence to serve both goals - retaining customers that are
pickier than ever in the competitive marketplace and acquiring new customers that now
have all the freedom to go online and compare every insurance offer.
CONCLUSIONS
Here I conclude that the summer internship program, done in IDBI FEDERAL Life Insurance
company, for partial fulfilment of the MBA program in Lal Bahadur Shastri Institute of
Management has been completed successfully.
Following are the achievements done during the summer internship from 3rd April, 2017 to 3rd
June, 2017:
a. Sales done by me during the time have done great business to the company.
b. I was one of the Sales generators with generated sales of more than 1,00,000.
c. The experience gained during the internship has sharpened my marketing and
negotiable skills and given me a great on the field experience.
REFRENCES
Research papers:
Ravi Akula & Tirupathi Kanchu, Growth of ULIP policies in Life Insurance Sector - A
comparative study of Traditional and ULIP policies, Volume II, Issue 2/3/2011
Mr Kantesha Sanningammanavara, A Comparative Study on the Performance of ULIPs Offered
by the Selected Insurance Companies-A Study in Indian Capital Markets, Volume 2, Issue - 4,
June 2013
Websites:
www.morningstar.in
www.moneycontrol.com

Analysis of ULIP

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Analysis of ULIP

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ANALYSIS OF ULIP

A SUMMER PROJECT STUDY SUBMITTED IN PARTIAL FULFILLMENT

FOR THE REQUIREMENT OF THE TWO YEAR

POST GRADUATE DIPLOMA IN MANAGEMENT (2016-18)

Roll No. 010/2016

LAL BAHADUR SHASTRI INSTITUTE OF MANAGEMENT, DELHI

Date: 23rd July 2017

completion of the project titled Analysis of ULIP.

me with ample suggestions and guidance to successfully complete this project.

Lal Bahadur Shastri Institute of Management

1.3.1 Name Of Company-IDBI FEDERAL LIFE INSURANCE

Branch Address- 903, Aggarwal Corporate Heights, District Centre,

Telephone no- 011-33541400,33541424

To be the Leading Provider of wealth Management, Protection and Retirement

To continually strive to enhance customer experience through innovative

1.3.6 PRODUCT RANGE OF IDBI FORTIS

UNIT LINKED INSURANCE PLANS

Fund Management Charges

Policy/ Administration Charges

CHART- Premium back under ULIP

General description Nature of investments Risk category

Income, Fixed Interest and Invested in corporate bonds, Medium

Table 1: Types of funds under ULIPs

The following are some of the advantages of Unit linked plans:

1.4.2 CHARACTERISTICS OF INSURANCE

1.4.3 HISTORY OF INDIAN INSURANCE

History of Insurance in India can be broadly bifurcated into three eras:

1.4.4 CAPITAL REQUIREMENTS AND FOREIGN PARTICIPATION

1.4.5 LIFE INSURANCE

AEGON Religare Life Insurance

Techniques of data collection

Developing a right research design and timeline for the project

BAJAJ ALLAINZ OFFERS FIVE TYES OF

1. UNIT GAIN PLUS GOLD

UNIT GAIN PLUS GOLD

I. Wealthsurance only has a allocation charge of only

III. Wealthsurance has an Min Entry Age of 0 Years

I. Wealthsurance only has a allocation charge of only

I. Min Premium in Wealthsurance is only Ten Thousand

I. Wealthsurance can be customized for retirement

LIC OFFERS THREE DIFFERENT TYPES OF ULIPS

MARKET PLUS PROFIT PLUS(RP&SP)

ADBR-Accidental Death Benefit Rider, CIBR-Critical Illness Benefit Rider

I. Premium allocation charge is 16.5% in this product

I. Min Entry age in Wealthsurance is 0 years as against

HDFC STANDARD LIFE OFEERS FOUR DIFFERENT TYPES

ENDOWMENT PLUS II ENHANCED LIFE

UNIT LINKED PENSION RP UNIT LINKED PENSION SP

ADBR-Accidental Death Benefit Rider, CIBR-Critical Illness Benefit

I. Min Entry age in Wealthsurance is 0 years, as

ICICI PRUDENTIAL OFFERS ELEVEN DIFFERENT TYPES

a. LIFE TIME GOLD

LIFE TIME GOLD LIFE LINK SUPER

LIFE TIME PLUS

LIFE TIME SUPER PENSION LIFE STAGE RP PENSION

LIFE STAGE RP LIFE STAGE ASSURE

INVEST SHIELD LIFE NEW

I. Premium allocation charge is premium based in this

I. Premium payable in this product is Rs.75000 as

I. Premium payable in this product is Rs.15000 as

IV. Premium allocation charge is 20% in this product

Sep-16 20.34 22.5

Figure 1: NAVs of LIC

Figure 2: NAVs of Bajaj Allianz