A MINOR PROJECT REPORT

METHODS OF WEALTH MANAGEMENT

BIRLA SUNLIFE DISTRIBUTION COMPANY LTD.(BSDL)

SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENT OF

BACHELORS OF BUSINESS ADMINISTRATION BBA (B&I)

SUBMITTED TO : SUBMITTED BY :
Mr. ANUJ.P.KUMAR PRABHLEEN SINGH
GENERAL MANAGER BBA (B&I) III SEM
BSDL

DELHI INSTITUTE OF RURAL DEVELOPMENT,

NANGLI PUNA, NEW DELHI

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 PREFACE

This project is altogether a new exercise in it approach known as “Skilling Approach”, in

equipping the student with marketing skills. This shift is, therefore, on skill testing rather than
content testing.

This project is very imperative, as it enhances the ability of analytical and rational thinking. It
provides deep insights of the industry and the company. It lays great emphasis on the application
of theoretical knowledge in the practical field.

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 ACKNOWLEDGEMENT

The project is the result of a collective effort of teachers, senior agency manager and his team.
Each page is written, discussed and revised. With the deepest sense of esteem and gratitude, I
express my sincere thanks to all of them, whose assistance helped me to incorporate the analysis
that has been made on the manuscript.

I am grateful to Mr. Sanjay Pandey (Branch Manager), Mr. Anuj. P. Kumar (General Manager),
and his team, who have assisted me in a thousand different ways in the production of this project.

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 AN OVERVIEW

In India, after the amendments to the relevant laws in 1999, the LIC did not have the exclusive
privilege of doing life insurance business in India by 31.3.2002; eleven new insurers have begun
to transact life insurance business in India.

License have been issued to both Indian and Foreign players. To safeguard the interest of the
Indian companies, IRDA made a ruling where it asked foreign companies to tie up with
Indian companies. Indian companies had a share of 74% and foreign companies had a share
of only 26% for example, ICICI had a tie up with Prudential, Birla with Sunlife, HDFC with
Standard Life, Bajaj with Alliance, TATA with AIG etc.

Birla Sunlife co. ltd is a truly global brand which has already established itself as one of the
biggest private sector Insurance Companies in India. It has a solid reputation of over 160 years.
Its insurance and investment funds under management have exceeded Rs. 11, 00, 000 crores. The
company has positioned itself as the dominant life and pension’s player built on trust by world
class people and service

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 METHODOLOGY

In order to make this project effective and to show the real picture of the status and the
reach of those companies, I have undertaken the following steps: -
 I first searched the various plans of Birla Sunlife and then understood them
through their website and manuals provided by them.

 Then I collected and chose the names of 9 of the most satisfactory life insurance
companies after that I searched for the modes of selecting an agent for the
company, various channels of other insurance companies like through logging on
to their websites, through phone enquiry or by visiting their branch office.

 I opted all of the three modes for the completion of this project.

 I also collected information regarding the untouched places or the places where
Birla Sunlife has its branch offices yet.

 At last after collecting all the essential data, I omitted the incomplete /
unnecessary data and then summarized the information about the methods of
wealth management to make them easily reasonable.

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 CONTENTS

PARTICULARS PAGE NO.

INTRODUCTION 7
• About Wealth Management
7
• Overview of Industry
14
• Profile of Organization
17
• Competition Information
18
• SWOT Analysis
22

Conceptual Discussion 24
• Board of Directors 24
• Management Team 26

Product Knowledge 29
• Mutual Funds 29
• Equity 30
• Debt 31
• Hybrid 32
• MF-INSTA INVEST 33
• Life Insurance 34
• General Insurance 40
• Commodities 44
• Alternative Investment 45
1. Real estate 46
2. Private Equity 47
• Structured Products 48
• Fixed Deposits 49

Findings and Recommendations 51

Conclusion 57
Bibliography 58

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 INTRODUCTION

About Wealth Management

An investment strategy is a crucial element of wealth management. It is a combination of

expertise and perception, complex market dynamics and innate planning. With the variety and
complexity of the investment options available in today's marketplace, it is important to have
disciplined, experienced professionals to provide advice at every stage in your life. And this is
where we come in.

Presenting Birla Sun Life Wealth Management. We offer you unique services; so personalised,
that you get the best of both the worlds: our focus and dedication towards the success of our
clients and your aspirations regarding your finances.

That is why, more than a plan, you need a partner with the financial expertise and cutting-edge
tools and processes to maximise your hard-earned wealth. We work with you to help ensure your
goals are not just met - but exceed your expectations at every step.

Birla Sun Life Wealth Management is your trusted advisor and your partner in helping you
achieve the pinnacle of financial success.

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Our Philosophy
Birla Sun Life Wealth Management is founded on a strong philosophy and a belief, that expertise
and guidance is fundamental to wealth management. Our mantra is to focus on capital protection,
backed by strong growth so you own a healthy portfolio and returns.

A well thought-out plan coupled with disciplined investment process and strategy is important
for achieving the desired financial goals. Strategic asset allocation is the time-tested process of
diversifying an investment portfolio by allocating the funds across multiple asset classes, with
the goal of earning the best possible rate of return for a given level of risk. Based on your risk
profile, your Relationship Manager will show-case a bouquet of products to you and periodically
review your portfolio to ensure it stays in line with your risk profile.

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Financial Planning
We offer comprehensive financial planning to complement your investment strategy. The core
focus of financial planning is to tailor and customize a portfolio to suit your financial needs.
Right from understanding your need, risk appetite and expectations, we do all that goes into
making your portfolio precise distinct and as individual as you.

Our Planning Approach

Identifying your financial goal

The key to any investment plan is to know your needs as an individual, your background,
investment pattern, risk appetite and expectations regarding returns. With this we create a profile
that revolves around you, and offer investments that suit your personality.

Investment plan
With an in-depth understanding of personal profile and views based on your short term long term
goals, we build and allocate a suitable asset allocation plan. In this plan, your actual portfolio
rebalancing is done after consulting with you.

Portfolio construction
Once the appropriate investment portfolio has been chosen, your dedicated wealth manager will
navigate you through every stage of the investment process and ensure that the health of your
portfolio is never compromised. We work to execute your tailor-made investment strategy with
complete confidentiality and security, across the breadth of your investment portfolio.

Portfolio maintenance
As market conditions and risk factors are bound to fluctuate, your wealth manager proactively
monitors the state of your portfolio, periodically re-evaluates each account, and then carefully
suggests alternate investment strategies to capitalise on changing trends.

Portfolio review
With changes in your investment needs, patterns and goals, your wealth manager will monitor
and review your portfolio. Based on your inputs we realign the same to suit your current
investment horizon.

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'Wealth Guide'
The 'Wealth Guide' is a disciplined approach of investing through a set of recommended asset
allocations designed to fulfill your financial needs and goals. It helps in creating a balance
between safety, liquidity and returns through a mix of asset categories.

Based on your appetite for risk, you can optimize the risk and return expectations by investing in
an appropriate mix of investment options across several asset classes.

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Benefits
At Birla Sun Life Wealth Management, we understand your investment needs. For which we
have a dedicated Relationship Manager, who is not only your advisor, but also a person who will
help you assess several suitable avenues and develop different means to achieve your dreams.
This advisor will be allocated to your account and will be readily accessible to discuss all aspects
of your wealth management. With a highly experienced professional by your side, you will be
able to develop and preserve a comprehensive financial plan and ensure that your financial
planning blueprint correlates to your goals at all stages of life.

Investments. Portfolio Balancing. Managing risk.

Regarding investments, we help you plan strategically and systematically in advance. After
analyzing your risk appetite and several other factors that effect your investments we balance
your portfolio minimizing your risk, making your wealth work in your benefit for a lifestyle you
have always dreamed of. For a continuous and seamless service, you have access to a Customer
Service Manager Executive who will complement your wealth manager.

Expert Team. Expert Solutions.

We rank among the top players in this segment, driven by knowledge, expertise and experience.
With combination of personal attention, ethical practices, strong research, state-of-the-art
technology, streamlined processes and innovative marketing our team of experts are well poised
to serve the growing economy and increasing investor population.

Research
At Birla Sun Life Wealth Management, we provide our clients with the best financial advice
backed with extensive research and state-of-the-art technology.

Exceptional Services
We exceed client expectations with our fast, effective and friendly services. The service includes
daily Market Update, Weekly Update on MF, Event Based SMS, you will be kept fully informed
on the markets.

Online Access to Portfolios

You can constantly monitor the composition of your portfolio as well as all transactions through
our online services. This simple yet efficient process ensures that you are always aware of the
detail regarding your investments and meet your long term objectives.

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Products & Services
We provide you with new investment opportunities and investment advice which allows you to
choose from a broad spectrum of products and services. With Birla Sun Life Wealth
Management by your side, you can be rest assured that you will have access to only the most
viable wealth management products and solutions. With a well planned wealth consolidation
strategy we ensure a lasting legacy for you and your loved ones.

Our Products:

Mutual Funds
Mutual Funds give you access to Indian equity and debt securities .We offer you advice on the
entire universe of mutual funds. So be it equity funds, where you look for growth and capital
appreciation or debt funds for capital preservation, we can help you select the right mix to suit
you. Choose from an array of more than 15 fund houses with innumerable schemes.

PMS
A unique way to build a customized portfolio of Indian equities is through Portfolio Management
System (PMS). We act as authorized distributors for various PMS providers to meet the growing
needs of investors and broaden the portfolio beyond equities and bonds.

Direct Equity
You can enjoy convenient, simple and efficient trading in Indian equities that is offered by
Apollo Sindhoori Capital Investments Limited. We provide you a seamless platform to invest in
the Indian secondary markets. Your wealth management advisor will provide you valuable
advice based on in-house research.

Structured Products
We offer customized investment solutions to access various asset classes. Most structures will
offer principal protection with returns based on performance of an associated asset class. Based
on your preference, returns can be linked to a variety of asset types such as equity indices, basket
of stocks, commodities.

Alternate Asset Products

Through our distribution tie-ups, we offer a wide range of Private Equity Funds, which invest in
the unlisted securities, to give you the opportunity of investing in the growing Indian economy.
Access to these types of products and strategies can support a variety of investor objectives
including capital preservation, risk protection, leverage, and diversification e.g. Private Equity
Funds. So, if you are looking beyond the stock market, you will find us there too!

Real Estate
We offer niche property investment services. We bring in a combination of in-depth market
knowledge and real estate industry experience to offer a range of specialized real estate
investment services. According to the analysis of the needs and objectives of the investor, we
provide expert advice and innovative real estate solutions to our clients.
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Loan Against Securities and Mutual Funds
Our tie up with Birla Global Finance will allow investors to use their investments in shares as
security for their borrowing, which in turn can fund the purchase of additional investments.
In this way clients are able to invest more and increase the size of their total portfolio.

Gold
A healthy portfolio is about the diversification and management of risk. Holding gold in a
portfolio can provide distinct benefits, its most valuable contribution to a portfolio lies in the fact
that it is not correlated with most other assets. We offer multiple avenues of investing in gold so
that you can benefit from effective portfolio diversification

Life Insurance
While offering solutions for building and preserving capital, Relationship Manager will offer you
comprehensive advice on how best to protect yourself and your family against all the most
serious risks that you face.

Our affiliation with Birla Sun Life Insurance provides the opportunity to obtain more favorable
offers, which can result in lower costs and greater benefits. Our Policy Analyst review ensures
that the planning you’ve previously done remains competitive and current.

Top

Our Services :

Research
Our quality research provides clients with the information they need to make informed
investment decisions. The Birla Sun Life Wealth Management Research team is dedicated to
keep you updated with an access to these publications and to a wide range of research tools
including market depth, breaking commentary, long-term forecasts to detailed daily updates and
the latest financial news.

Highly proactive services

We deliver a fast, effective and friendly service that often exceeds our client's expectations. The
service includes daily Market Update, Weekly Update on MF, Event Based SMS, you will be
kept fully informed on the markets.

Online Portfolio Access

Wherever you are, our network works for you. This process is simple yet efficient, and ensures
that you are always aware of every detail regarding your investments. You can constantly
monitor the composition of your portfolio as well as all transactions, which will enable you to
see if you can meet your long term objectives.

Financial planning
To complement your investment strategy we offer comprehensive financial planning. This
planning session will be followed by a complimentary personalised report containing specific
recommendations on the actions you need to take to achieve your financial goals.

Regular Portfolio Reviews

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Periodic reviews to ensure the integrity of the portfolio and continued viability of assets within
the portfolio. We believe in diversification and are committed to providing a sound and
conservative investment acumen.

OVERVIEW OF INDUSTRY

The insurance industry provides protection against financial losses resulting from a variety of
perils. By purchasing insurance policies, individuals and business can revive reimbursement for
losses due to car accidents, theft of property, and fire and storm damage, medical expenses, and
loss of income due to disability or death.

The insurance industry consists mainly of insurance carriers (or insurers) and insurance agencies
and brokerages. In general, insurance carriers are large companies that provide insurance and
assume the risk covered by the policy. Insurance agencies and brokerages sell insurance policies
for he carriers. While some of these establishments are directly affiliated with a particular insurer
and sell only those carrier policies, many are independent and are thus free to market the policies
of a variety of insurance carriers. In addition to supporting these two primary components, the
insurance industry establishments that provide other insurance-related services, such as claims
adjustment or third-party administration of insurance and pension funds.

Insurance carriers assume the risk associated with annuities and insurance policies and assign
premiums to be paid for the policies. In the policy, the carrier states the length and conditions of
the agreement, exactly which losses it will provide compensation for, and how much will be
awarded. The premium charged for the policy is based primarily on the amount to be awarded in
case of loss, as well as the likelihood that the insurance carrier will actually have to pay. In order
to be able to compensate policyholders for their losses, insurance companies invest the money
they receive in premiums, building up a portfolio of financial assets and income-producing real
estate which can then be used to payoff any future claims that may be brought. There are two
basic types of insurance carriers: direct and reinsurance. Direct carriers are responsible for the
initial underwriting of insurance policies and annuities, while reinsurance carriers assume all or
part of the risk associated with the existing insurance policies originally underwritten by other
insurance carriers.

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Direct insurance carriers offer a variety of insurance policies. Life insurance provides financial
protection to beneficiaries usually spouses and dependent children upon the death of the insured.
Disability membership organizations for the benefit of their members. Among the most common
policies of this nature insurance supplies a preset income to an insured person who is unable to
work due to injury or illness, and health insurance pays the expenses resulting from accidents
and illness. An annuity (a contract or a group of contracts that furnishes a periodic income at
regular intervals for a specified period) provides a steady income during retirement for the
remainder of one life. Property-casualty insurance protects against loss or damage to property
resulting from hazards such as fire, theft, and natural disasters. Liability insurance shields
policyholders from financial responsibility for injuries to others or for damage to other people
property. Most policies, such as automobile and homeowners insurance, combine both property-
casualty and liability coverage. Companies that underwrite this kind of insurance are called
property-casualty carriers.

Some insurance policies cover groups of people, ranging from a few to thousands of individuals.
These policies usually are issued to employers for the benefit of their employees or to unions,
professional associations, or other are group life and health plans. Insurance carriers also
underwrite a variety of specialized types of insurance, such as real-estate title insurance,
employee surety and fidelity bonding, and medical malpractice insurance.

A relatively recent act of Congress allows insurance carriers and other financial institutions, such
as banks and securities firms, to sell one another's products. As a result, more insurance carriers
now sell financial products such as securities, mutual funds, and various retirement plans. This
approach is most common in life insurance companies that already sell annuities; however,
property and casualty companies also are increasingly selling a wider range of financial products.
In order to expand into one another's markets, insurance carriers, banks, and securities firms have
engaged in numerous mergers, allowing the merging companies access to each other's client base
and geographical markets.

Insurance carriers have discovered that the Internet can be a powerful tool for reaching potential
and existing customers. Most carriers use the Internet simply to post company information, such
as sales brochures and product information, financial statements, and a list of local agents.
However, an increasing number of carriers are starting to expand their websites to enable
customers to access online account and billing information, and a few carriers even allow claims
to be submitted online. Some carriers also provide insurance quotes online based on the

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information submitted by customers on their Internet sites. In the future, carriers will allow
customers to purchase policies through the Internet without ever speaking to a live agent.

In addition to individual carrier-sponsored Internet sites, several lead generating sites have
emerged. These sites allow potential customers to input information about their insurance policy
needs. For a fee, the sites forward customer information to a number of insurance companies,
which review the information and, if they decide to take on the policy, contact the customer with
an offer. This practice gives consumers the freedom to accept the best

The insurance industry also includes a number of independent organizations that provide a wide
array of insurance-related services to carriers and their clients. One such service is the processing
of claims forms for medical practitioners. Other services include loss prevention and risk
management. Also, insurance companies sometimes hire independent claims adjusters to
investigate accidents and claims for property damage and to assign a dollar estimate to the claim.

Other organizations III the industry are formed by groups of insurance companies, to perform
functions that would result in a duplication of effort if each company carried them out
individually. For example, service organizations are supported by insurance companies to
provide loss statistics, which the companies use to set their rates.

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PROFILE OF THE ORGANIZATION

Birla Sun Life Distribution Company Ltd ('BSDL') is a wholly owned

subsidiary of Aditya Birla Nuvo Ltd. (Nuvo). Earlier it was established as a joint venture
between Aditya Birla Nuvo and Sun Life (India) Distribution Investments. In March 2009, Nuvo
purchased the remaining 50.001 per cent stake from its joint venture partner. The company was
launched in the year 1999 with the vision to be 'the first preference of our customers as a leading
integrated provider of financial services through superior value creation and technology.
BSDL offers wealth management, financial planning and investment solutions, mainly through a
range of products like mutual funds, insurance, PE funds, alternate investments, select fixed
deposits and IPOs and structured products. The company provides life insurance products of
Birla Sun Life Insurance, sourced through its wholly owned subsidiary BSDL Insurance
Advisory Services Ltd (BSDLIAS), licensed to act as a Corporate Agent of Birla Sun Life
Insurance Company Limited.

The Corporate & Institutional section caters to banks, financial institutions and other companies;
Wealth Management service focuses on HNIs; while the Retail section offers solutions through
Channel Partners and branches.

A combination of personal attention, ethical practices, strong research, state-of-the-art

technology, streamlined processes and innovative marketing has made BSDL one of the premier
distribution companies in India, well poised to serve the growing economy and increasing
investor population. BSDL has also been honoured with awards and certifications by leading
industry watchers.

Noteworthy achievements

 Among the top distributors in the country with AUM (Assets Under Management) of Rs
12000 cr from 2.6 lakh investors

 Network of 42 branches in 29 cities across India and growing, besides over 5000 business
associates

Aditya Birla Group

The Aditya Birla Group (www.adityabirla.com), a US $28 billion conglomerate, is among the
largest business houses in India.

It enjoys a leadership position in all the sectors in which it operates. It is anchored by a force of
100,000 employees, belonging to 25 nationalities. Its operation spans 25 countries across six
continents and is reckoned as India's first multinational corporation. Headquartered in Mumbai,
India, over 60 per cent of the Group's revenues flow from our overseas operations. The Group
nurtures a work culture where success is built on learning and innovation. The Aditya Birla
Group has been adjudged ‘The Best Employer in India and among the top 20 in Asia’ by the
Hewitt, Economic Times and Wall Street Journal Study in the year 2007.

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COMPETITION INFORMATION

LIST OF COMPETITORS
Name of the Company No. of Branches
ICICCI PRU LIFE 112
OM KOTAK MAHINDRA LIFE 51
BAJAJ ALLIANZ LIFE 535
MAX NEW YORK 89
HDFC STANDARD LIFE 158
LIC OF INDIA 100
ING VYSYSA LIFE 60
AVIVA INDIA 102
SBI LIFE INSURANCE 53

Indian Life Insurance Scenario today

 Number of private players 15%

 Market share of private players (in premiums) 25%

 (For Apr. 06 - Jan. 07)

 Total Premium Underwritten (Rs. cr.) 44,823

 (For Apr. 06 - Jan. 07)

 Growth rate of life insurance industry 127%

 (In Apr. 06 - Jan. 07 over the previous year)

 Premium as % of GDP 2.26%

18
[FIG1.1 : Market share (premium underwritten)]

19
20
[FIG1.2 : Market share (no. of policies)]

21
[FIG1.4 : Market share (premium u/w) private companies]

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SWOT ANALYSIS OF THE ORGANIZATION

SWOT analysis is a technique for understanding strengths, weakness, opportunities and threats
of an organization.

The SWOT Analysis is a technique used for identifying an organization’s strengths and
weakness and examining the opportunities and the threats which the organization is facing

STRENGTH WEAKNESS
OPPORTUNITIES THREATS

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STRENGTHS
 Marketing expertise.
 Big distributional channel.
 Innovative product or services.
 Brand name

WEAKNESSES
 Similar products offered by the competitors.
 Undifferentiated price in comparison to the competitors.
 Anticipated returns are told to the customers.
 Less of organization culture.

OPPORTUNITIES
 No startup capital required.
 Flexible working environment
 Be your own boss.
 Unlimited earning potential.
 To be part of a world-class team.

THREATS
 Price conflicts with the competitors.
 Product and service conflicts with competitors.
 Change in government policy regarding taxation.
 Rapid launch of more companies in the same industry.

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 CONCEPTUAL DISCUSSION

Board of Directors

Mr. Ajay Srinivasan

Mr. Srinivasan holds a Bachelor of Arts degree with Honors in Economics from St Stephens College,
University of Delhi and an MBA from the Indian Institute of Management, Ahmedabad. He is the Chief
Executive, Financial Services and Director, Corporate Strategy and Business Development at the Aditya
Birla Group since July 2007.

In his role as Chief Executive, Financial Services, Aditya Birla Group, he sets the strategic direction and
vision and provides operational leadership for the Group’s Financial Services business. In his role as
Director, Corporate Strategy and Business Development, he directs and strategies on business portfolio
issues for the Aditya Birla Group focusing on the long-term sustainability, profitability and value creation of
the Group’s businesses.

Prior to joining the Aditya Birla Group, Mr. Ajay Srinivasan was associated with Prudential Corporation Asia,
Threadneedle Asset Management, etc. at senior levels. With a proven track record for building successful
businesses, his experience in the financial services industry spans almost two decades.

Mr. Bishwanath N.Puranmalka

Mr. Puranmalka is commerce and law graduate and also a Fellow member of the Institute of
Chartered Accountants of India and Institute of Company Secretaries of India. He is the Director of
Aditya Birla Group’s Financial Services and has a total working experience of more than 45 years. He
has been associated with the Aditya Birla Group in various capacities since the inception of his
career.

He has a rich experience in implementation and running of several manufacturing, training, service
industry business and setting up Greenfield manufacturing operations. He is on the Board of various
companies.

Mr. Pankaj Razdan

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 Mr. Pankaj Razdan holds a B.E. degree and has been working with various organisations of repute for
over 15 years. He has a rich experience in the arena of financial services and his expertise is
reflected in his accomplishments through the years. Prior to joining the Aditya Birla Group as Dy.
CEO, Financial Services, Mr. Razdan held the position of Managing Director in Prudential ICICI Asset
Management Company

Mr. Manoj Kedia

Mr. Manoj Kedia is a Chartered Accountant and has been associated with the Aditya Birla Group for
more than 18 years. With his extensive knowledge and proficiency he has created a niche for himself
in the company through the years. He is currently holding the position of Dy. CFO in Aditya Birla Nuvo
Limited.

Management Team

26
Mr. Kanwar Vivek - Chief Executive Officer

Educational Qualifications PGDM (MBA) - IMT, Ghaziabad

Experience Mr. Kanwar Vivek has a rich and varied

experience of over 20 years in the Financial
Services and Office Automation sectors. Prior to
joining BSDL, he was General Manager – Retail
Liability Group at ICICI Bank Ltd In the past, he
has been associated with organisations like ITC
Classic Finance, HCL and NELCO.

Mr. Girish Venkat - Head Wealth Management

Educational Qualifications B.Com, MBA, Mumbai

Experience Girish brings with him 14 years of rich

experience in Financial Services.

In his last assignment with ICICI Bank, he was

designated as “Head - Global Private Client
Group". Before that he was Regional Head -
Gujarat (Operations, Liability Sales & Fee
Income) at ICICI Bank Limited.

Prior to this he has worked with companies like

Lloyds Finance Limited, Lexicon Finance Ltd &
Harvest Finance Ltd.

Mr. Manoj S Chauhan - Head Retail and Institutional Sales

27
Educational Qualifications PMIR and MBA, Gwalior

Experience Manoj brings with him a rich experience of 15

years in sales and distribution.

Prior to joining BSDL Manoj was National Head -

Theatrical Distribution in Reliance Ad labs Films
Limited. Before that he was Country Head - Sales
and Distribution at Reliance Life Insurance
Company. He has also worked with General
Insurance arm of Reliance Capital.

Prior to this he has worked with companies like

Blow Plast, Gillette, Coca Cola India, ICICI Bank
in sales and distribution.

Mr. Lal Tahilramani - Head Finance & Accounts

Educational Qualifications B.Com & CA, ICAI, Mumbai

Experience Lal brings with him a rich experience of 13 years

in Finance, MIS and Audit reporting. Prior to
joining BSDL he was Manager Accounts in
Nimbus Communications Ltd.
Before that he was with Batliboi Ltd as Assistant
Manager Accounts & Finance

Mr. Rajesh Srivastava - Head Human Resources

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Educational Qualifications MA (Psychology), MBA, Allahabad

Experience Rajesh brings overall experience of around 15 yrs

in different areas of HR. He has been with the
Aditya Birla Group for around 10 years. During
this period he has worked in different business of
the group – Cement, Trading Insurance and
Corporate function. Prior to joining BSDL, he was
with Group Human Resources of the Group

PRODUCT KNOWLEDGE

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Mutual Funds

Let the experts help you grow your money

A Mutual Fund is a trust that pools together the savings of a number of investors who share a
common financial goal. The fund manager invests this pool of money in securities, ranging from
shares, debentures to money market instruments or in a mixture of equity and debt, depending
upon the objective of the scheme. Thus a Mutual Fund is the most suitable investment for the
common man as it offers an opportunity to invest in a diversified, professionally managed basket
of securities at a relatively low cost.

Why Invest in Mutual Funds?

Professional Management
Fund managers are professionals who track the market on an ongoing basis. With their
mix of professional qualification and market knowledge, they are better placed than the average
investor to understand the markets.

Diversification and Lowered Risks

Since a mutual fund is a trust that pools the savings of a number of investors sharing a
common financial goal, the associated risks are greatly reduced. This is also because a fund will
invest your money in different types of instruments like shares and bonds. Hence, loss in one
sphere will not greatly affect your overall investment status.

Low Costs
When compared to direct investments in the capital market, mutual funds cost less. This
is due to savings in brokerage costs, Demat costs, depository costs, etc.

Liquidity
Investments in mutual funds are quite liquid and hence can be redeemed at the Net Assets
Value (NAV)–related price on any working day.

Transparency
All that you invest in a scheme is made known to you and you are periodically informed
about all the updates and changes taking place

Flexibility
Mutual funds offer flexibility in their options and schemes to match individual needs.
Also, with features like regular withdrawal plans and systematic investment plans, you can
withdraw or invest funds according to your needs and convenience.

Choice of Schemes
Mutual funds offer a vast variety of well-designed schemes and options that you can
choose from depending on your risk appetite.

Tax Benefits
In India, these funds become even more attractive because of the tax advantage,
indexation benefits, long term capital gains tax, tax free dividends and much more.
Equity

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Equity schemes primarily invest in shares. Based on the objective investments could be in
growth stocks where earnings growth is expected to be high or value stocks where the view of
the fund manager is that current valuations in the markets do not reflect the intrinsic value.

Equity Linked Saving Schemes (ELSS):

Mutual Fund schemes investing predominantly in equity, and which offer tax deduction to
investors under section 80 C of the Income Tax Act. Currently tax deduction u/s 80C can be
availed up to a maximum investment of Rs 1, 00,000/-. A lock-in of 3 years is mandatory.

Diversified Equity Fund:

A mutual fund scheme that achieves the benefits of diversification by investing in the stocks of
companies across a large number of sectors. As a result, it minimizes the risk of exposure to a
single company or sector.

Index Fund:

One of the easiest ways to mirror the performance of markets is by investing in the Index Fund
for it endeavours to replicate the performance of the Indices such as the BSE Sensex or the S&P
CNX Nifty. The costs are lower and the portfolio, well diversified.

Debt

31
Debt fund invests in interest bearing securities mainly government securities and corporate
bonds. This fund earns returns for its investors from interest income on its investments and
profits on trading securities. In terms of risk, this type of fund is the least risky. Various kinds of
debt scheme are:

Income or Bond Schemes:

These schemes invest in a basket of debt securities such as bonds, government securities,
corporate debentures etc of various maturities. The objective is to maximize income while at the
same time maintaining the optimum balance of yield, safety and liquidity.

Gilt Fund:
The Gilt Fund invests in a portfolio of bonds issued by the Government, which are essentially
liquid and carry no credit risk. However, the fund is subject to interest rate risk.

Floating-Rate Debt Fund:

A fund comprising of bonds for which the interest rate is adjusted periodically according to a
predetermined formula, usually linked to an index.

Fixed Maturity Plan (FMP):

FMPs are ideal choice for investors who like to buy a bond and hold it to maturity, without
taking any market risk. The fund invests into bonds at the beginning of the plan, such that the
maturity of the bonds matches the investing horizon of the plan.

Hybrid

32
Balanced Funds:
The aim of balanced funds is to provide both growth and regular income as such schemes invest
both in equities and fixed income securities. They generally invest between 65% to 80% in
equity and between 20% to 35% debt and money market.

Monthly Income Plan (MIP):

MIPs are suitable for conservative investors who desire a regular income stream periodically
along with some capital appreciation. This fund invests in good quality debt instruments to
provide consistency in returns, and a small allocation of 5% to 15% to equity, to ensure some
growth. However the monthly income is not assured.

MF Insta-invest

33
Invest online in mutual fund - 24 x 7 x 365

With Birla Sun Life Wealth Management’s MF Insta-invest, you can instantly invest in a range
of Mutual Funds online by paying from any of 13 banks via internet banking.

Who can use MF Insta-invest?

You don’t have to be a Birla Sun Life Wealth Management’s existing customer to access this
facility. Any individual - resident citizen or NRI is eligible under the facility. A Parent/Guardian
can also invest on behalf of a minor.

To know more about MF Insta-invest, please read FAQs

Please note that you can transact(s) subject to the

Terms and Conditions mentioned herein and you can transact online after completing
documentation, and receiving User ID and password from BSDL on your registered mobile
number.

Complete one-time documentation in easy steps

1) Print and sign the completed Registration Form, which you have downloaded and saved.

2) Sign and attach the following documents to the form:

1. If you are not KYC compliant:
a. Completed KYC Form
b. Attested Copy of PAN Card.
c. Attested proof of correspondence/permanent address.
d. Cancelled bank cheque of the Sole/First Applicant.
2. If you are KYC compliant:
a. Self-attested Copy of your PAN Card
b. Self-attested Copy of your KYC acknowledgement letter.
c. Cancelled bank cheque of the Sole/First Applicant.

3.Submit your documents at any of our branches. Click here for

branch locator You can also post or deliver them to-

MF Insta-invest,
Birla Sun Life Distribution Company Ltd,
205, Dynasty Business Park, Wing - A,
Andheri - Kurla Road, Andheri (East),
Mumbai – 400069

You will receive your User ID and password on the registered mobile number provided to us
within 5 working days from the date of receipt of the form.

LIFE INSURANCE

34
What is Life Insurance?

Life insurance is a guarantee that your family will receive financial support, even in your
absence. Put simply, life insurance provides your family with a sum of money should something
happen to you. It thus permanently protects your family from financial crises.

In addition to serving as a protective cover, life insurance acts as a flexible money-saving

scheme, which empowers you to accumulate wealth-to buy a new car , get your children married
and even retire comfortably .

Life insurance also triples up as an ideal tax-saving scheme. To know more, read the Key
Benefits of Life Insurance.

Key Benefits of Life Insurance

Life insurance, especially tailored to meet financial needs.

Need for Life Insurance

Today , there is no shortage of investment options for a person to choose from Modern day
investments include gold , property , fixed income instruments , mutual funds and of course , life
insurance . Given the plethora of choices, it becomes imperative to make the right choice when
investing your hard-earned money. Life insurance is a unique investment that helps you to meet
your dual needs - saving for life's important goals, and protecting your assets.

Let us look at these unique benefits of life insurance in detail.

Asset Protection

From an investor's point of view, an investment can play two roles - asset appreciation or asset
protection. While most financial instruments have the underlying benefit of asset appreciation,
life insurance is unique in that it gives the customer the reassurance of asset protection, along
with a strong element of asset appreciation.

The core benefit of life insurance is that the financial interests of one's family remain protected
from circumstances such as loss of income due to critical illness or death of the policyholder.
Simultaneously, insurance products also have a strong inbuilt wealth creation proposition. The
customer therefore benefits on two counts and life insurance occupies a unique space in the
landscape of investment options available to a customer.

35
GOAL BASED SAVINGS

Each of us has some goals in life for which we need to save. For a young, newly married couple,
it could be buying a house. Once, they decide to start a family, the goal changes to planning for
the education or marriage of their children. As one grows older, planning for one's retirement
will begin to take precedence.

Clearly, as your life stage and therefore your financial goals change, the instrument in which you
invest should offer corresponding benefits pertinent to the new life stage.

Life insurance is the only investment option that offers specific products tailor-made for different
life stages. It thus ensures that the benefits offered to the customer reflect the needs of the
customer at that particular life stage, and hence ensures that the financial goals of that life stage
are met.

Human Life Value

What is your Human Life Value?

Beyond all doubt, your life is invaluable. Yet, there is a certain worth that can be attributed to the
financial support you offer your parents, spouse or children. This worth is referred to as Human
Life Value (HL V). In the future, if your family does not have the protective blanket of your
presence, they will no longer be able to enjoy the benefits of the income you earned. Put simply,
Human Life Value is the present value of your future earnings.

Why should you calculate your Human Life Value?

You should calculate your Human Life Value so you can accordingly invest in insurance plans
that provide your family with adequate finances and hence security even in your absence.

How do you determine your Human Life Value?

Your Human Life Value is determined by 3 factors:

1. Your age.

2. Current and future expenses.

3. Current and future income.

36
As a thumb rule, if you are 30 years of age, you should insure yourself for an amount
approximately 8 times your annual income. At 35, your investment should be close to 6 times
your income. Of course, the exact amount of your investment should be determined by the
number of people who depend on you; your existing investments and your life stage. For
example, if you are 30 years of age and have two children and parents to provide for, the amount
you invest should be reflective of your requirements.

BSLI Children's Dream Plan

37
 There's no compromising when it comes to your child. The BSLI Children's Dream Plan offers
you the support in realizing your dreams for your child - enabling you to put up funds not
just for an education but for start up capital as well. You can also ensure that your child
continues to enjoy the benefits of the plan even thereafter.

Making your Dreams a reality

Education for your little one is a major concern. Professional courses like engineering,
medicine or an MBA today costs between Rs. 2 lakh to Rs. 10 lakh. And, with competition
and increasing costs, the future expenses on a premium education are going to be much
higher. The BSLI Children's Dream Plan is here to meet the education costs, assuring you a
Guaranteed Fund value equaling all premiums paid, less charges and the Guaranteed
Maturity Benefit. This fund is accumulated at 3% per annum. The higher of either the
Guaranteed Fund Value or the Fund Value is paid on maturity.

Boost your child’s career

With our unique Guaranteed Maturity Options of 100%, 200% and 300%, you could provide
your child the start-up capital that may be required to launch a career. Boost your child's
career and watch him/her sail ahead in life. The table below illustrates the benefit.

Guaranteed Maturity Options Table

Child's Age 100% Option 200% Option 300% Option

18 100% 100% 100%

19 -- 20% 25%

20 -- 20% 25%

21 -- 20% 25%

22 -- 20% 25%

23 -- 20% 100%

Total 100% 200% 300%

Note: 100%, 200% and 300% options are as a percentage of the Guaranteed Maturity

Benefit
We realize that you would like your child's dreams to be fulfilled, even in your absence. The BSLI
Children's Dream Plan would keep your policy alive, take care of all your premiums till maturity,
and provide all benefits, in case you are no longer there.

Other Benefits

Investment Risk Profile Asset Allocation Min. Max.

Fund Option

Protector Low Debt Instruments, Money market and 90% 100%

Cash

Equities and Equity related Securities 0% 10%

38
Builder Low Debt Instruments, Money Market & 80% 90%
Cash

Equities & Equity Related Securities 10% 20%

Enhancer Medium Debt Instruments, Money Market & 65% 80%

Cash

Equities & Equity Related Securities 20% 35%

Note for Asset Allocation: In each Investment Fund Option, the Money Market & Cash asset
allocation will not exceed 40%. Money Market Instruments are debt instruments of less than one-
year maturity. They include mutual funds, collateralized borrowing & lending obligation,
certificate of deposits, commercial papers, etc. Investment in Money Market Instrument supports
better liquidity management.

Partial Withdrawals: After the completion of 3 policy years, you are free to make partial
withdrawal at any time. The minimum amount permitted for a partial withdrawal is Rs. 5,000 and
the maximum is the excess of the fund value over the Guaranteed Fund Value.

Surrender: You have the freedom to surrender your policy at any time during the term of the
policy. After 3 years of completion of your policy, no charges are collected for surrendering the
policy.

Additional Protection: You have an option to increase the Sum Assured at any point in time, to
provide higher protection to your child.

Plan Summary

Entry Age Life Insured (Parent): 18 years - 60 years

Nominee (Child): 30 days - 13 years

Policy Term 18 years, less the age of child at entry

Riders Accidental Death & Dismemberment Benefit (ADD)

Partial Withdrawals Allowed after 3 complete policy years

Investment Funds Protector, Enhancer, Builder

Tax Benefit Under Section 80C and 10 (10D)

Disclaimer
This policy is underwritten by Birla Sun Life Insurance Company Limited (BSLI). This is a non-
participating unit linked child plan. Birla Sun Life Insurance, Children's Dream Plan, Protector,
Builder and Enhancer are only the names of the Company, Policy and the Investment Funds
respectively and do not in any way indicate the quality of the Policy, Investment Funds or their
future prospects or returns. The charges mentioned above are applicable to the base policy only
and do not include riders. The charges mentioned above are applicable to all the three
Investment Funds offered at present. Only the Policy Administration Charge and Fund
Management Charge can be modified by the company subject to specified limits and approval of
the IRDA. The value of the Investment Fund reflects the value of the underlying investments.
These investments are subject to market risks and change in fundamentals such as tax rates etc
affecting the investment portfolio. The premium paid in Unit Linked Life Insurance policies are
subject to investment risk associated with capital markets and the unit price of the units may go
up or down based on the performance of Investment Fund and factors influencing the capital
market and the policy owner is responsible for his/her decisions. There is no guarantee or
assurance of returns above the guaranteed returns from the Investment Funds. BSLI reserves

39
the right to recover levies such as the Service Tax levied by the authorities on insurance
transactions. If there be any additional levies, they too will be recovered from you. This brochure
contains the salient features of the plan. For further details please refer to the policy contract.
Tax benefits are subject to changes in the tax laws. Insurance is the subject matter of the
solicitation. For more details and clarifications, call your BSLI Insurance Advisor or visit our
website and see how we can help in making your dreams come true.

UIN No. - 109L026V01

GENERAL INSURANCE

Health & Wellness Solutions

A sudden medical emergency has the potential to derail even a well made financial plan and
throw your finances into complete disarray. Lack of instant access to funds could, at times, force
you to compromise on the quality of medical treatment, which would be an unfortunate but
easily avoidable situation.

Health costs are rising at alarming rates and consuming a larger share of your monthly expenses
than ever before. It is then, only wise to have a plan to ensure that you and your family are never
left in the want of funds, when a contingency arises.

Things to remember while buying a health insurance policy

 Insure yourself and your family for an adequate amount

 Make sure you are insured against major illnesses and injuries.

 Go for those policies that offer you cash less facility

40
 Type Product Name1 Product Name2

Type BSLI Universal Health BSLI Health Plan

Self, Spouse and Parents - 18 Self, Spouse and Parents - 18

Entry Age years to 65 years, Children - 3 years to 65 years, Children - 3
months to 17 years months to 17 years

Policy Tenure 3 Yrs 3 Yrs

Maximum Self, Spouse and Parents - 80 Self, Spouse and Parents - 80

coverage age years Children - 25 years years Children - 25 years

41
Premium 3 years regular premium
3 years regular premium payment
Payment Term payment

Family
members Self, Spouse and 3 dependent Self, Spouse and 3 dependent
eligible for children or Parents children or Parents
cover

Network
Hospitals with 5300 PLUS network hospitals 5300 PLUS network hospitals that
Cashless that provide cashless facility provide cashless facility
Facility

Free medical second opinion Free medical second opinion from

Medical Second
from worlds leading second worlds leading second opinion
Opinion
opinion provider provider

42
 In case of hospitalization, this
Hospitalization plan provides you with a per day
Benefit hospitalization expense and ICU
allowance
Comprehensive surgical cover for
Surgical a number of surgeries. These are
Benefits fixed benefits and not linked to
your actual expenses
You will be reimbursed one
annual premium every three
years, which can use this
Comprehensive
amount to pay for wellness
wellness cover
related expenses. Read our
product literature to understand
this in detail
under section 80D Annual
premiums up to Rs.15,000 (Rs.
20,000 for senior citizens In case
you are buying this plan to cover
Tax Benefits
your parents your premiums are
eligible for an additional tax
benefit of Rs.15,000 (Rs. 20,000
for senior citizens)
43
In case of hospitalization, this
plan provides you with a per day
hospitalization expense and ICU
allowance
Comprehensive surgical cover for
a number of surgeries. These are
fixed benefits and not linked to
your actual expenses
NA
under section 80D Annual
premiums up to Rs.15,000 (Rs.
20,000 for senior citizens In case
you are buying this plan to cover
your parents your premiums are
eligible for an additional tax
benefit of Rs.15,000 (Rs. 20,000
for senior citizens)
 Regular premium payments with Regular premium payments with
Guarantee
the end of every policy term the end of every policy term
Insurability
renewals are guaranteed without renewals are guaranteed without
Benefit
any medical tests. any medical tests.

Commodities

Enrich your portfolio with commodities

Despite the fact that the prices of commodities are highly

unpredictable, they are much preferred by the investors who want to
take risks, so as to earn high returns from the price fluctuations. Of
course there are also commodities like Gold, which over a long term

44
is a reliable and safe investment. Hence, Commodities are
increasingly becoming one of the most popular areas of investment
for diversifying portfolios and improving overall rate of returns. If
you’re looking towards making a balanced portfolio, make
commodities your vehicle to earn desired returns.

Why invest in Commodities?

 Earns high returns

 Diversifies portfolio

 Commodities like gold is safe for long term investment

 Improves overall investment returns

Alternative Investments

Most investors choose common investment options which reduce their

earnings and capital growth. The alternate route for investments from the
traditional asset class, like the name suggests are Alternative
investments. All investments which are not of the type of equities, bonds
and stocks are categorized under this asset class. Alternative investments
are favored mainly because their returns have a low correlation with
those of standard asset classes The sustained risk adjusted returns of
alternative investments, have made them increasingly important and
provide a well balanced and diversification to the portfolio.

Why choose Alternative Investments?

45
 Professionally managed by people with knowledge and expertise
to understand market situations

 Transparency at every level with regular updates on changing

status

 Varied choice of schemes designed to suit individual needs

 Easy liquidity is ensured through varied features

 Wide range of tenures

 Diversity and lower risks

 Good profit generating opportunities

Real Estate

Real Estate is a booming sector with immense potential of growth. It

involves the commitment of funds to property with an objective of
generating income through rental or lease and to achieve capital
appreciation. Thus, one can access this sector either directly, by buying
or selling properties, or indirectly through real estate funds. It is
important for an investor to understand real estate investment as it
involves a substantial amount of capital and a long term decision.
Although unpredictable, the sector provides the investors various ways
to participate in this market.

46
Why opt for Real Estate?

 Booming investment sector

 Core investments appeal to long term

 Ideal for those seeking enhanced returns despite high risk

 Offers opportunities along the risk spectrum that can be tailored

to specific return objectives

Private Equity

Private equity consists of equity securities in operating companies that

are not publicly traded on a stock exchange. It aids the emerging
enterprises through business expansions, acquisition financing and
buyout transactions to become tomorrow’s leaders. Specialty of private
equity lies in the fact that it provides the companies with funds even
under unfavorable market conditions. It also adds to the operational
competency of organisations and encourages private investments in
business ventures.

Why opt for Private Equity?

47
 Taps the growth potential of Indian economy

 Improves the risk and reward characteristics of your portfolio

 Generates higher absolute returns while improving portfolio

diversification

 Backs able entrepreneurs, and leads to faster growth of economy

 Picks true stock in a low inflation and low growth environment

Structured Products

Unlike traditional investments, Structured Products generate returns

under much wider range of market conditions. This is a pre-packaged
investment strategy which is based on derivatives such as a single
security, a basket of securities, commodities, debt issuances and foreign
currencies. It is highly popular among investors for offering low risk and
relatively stable returns. There are various Structured Products in the
market, and an investor can choose them on the basis of the market
conditions to gain maximum returns.

48
Why go for Structured Products?

 Spreads market risk by allowing participation in a portfolio of

many securities

 Most structured products specialize in stocks or fixed-income

securities and pursue a consistent objective

 They are often designed to provide investors with enhanced tax

benefits

 Gains superior investment results

 Expense ratios of structured products are usually less than others

Fixed Deposits

A safe way to grow your money

Fixed Deposit is an amount of money on deposit with Financial

49
Institutions for a fixed term at a rate determined by the term and other
factors. Fixed deposits in companies that earn a fixed rate of return over
a period of time are called Company Fixed Deposits. Primarily, financial
institutions and Non-Banking Finance Companies (NBFCs) also accept
such deposits. Deposits thus mobilized are governed by the Companies
Act under Section 58A.

Company Fixed Deposits are adequate for regular income with the
option to receive monthly, quarterly, half-yearly, and annual interest
income. Moreover, the interest rates offered are higher than banks.

Why opt for Fixed Deposits?

 High Safety - since most of these instruments are rated

 Attractive Returns

 Stable and Fixed Source of Income

 Better rates for Senior Citizens

 High Service Standards

 Nomination Facility

 High Liquidity - Most of these issuers offer 75% of the

investment amount as loan @ 2% over the interest rate on the deposit as
well as pre-mature withdrawal
 Potential to earn compounding interest by reinvesting the
principal amount along with the interest earned during the period

 Flexible Tenure - most of the issuers offer various tenures

ranging from 1 year to 7 years
50
 Convenience of interest frequency - Most issuers offer monthly,
quarterly, semi- annual , annual or cumulative deposits

 Simple operational process - no requirement of PAN

 Direct ECS credit facility for interest payments or advance

interest warrants for the year issued by most of the companies

 No TDS for interest payment upto Rs 5000/- per financial year

FINDINGS
&
RECOMMENDATIONS

We are highly concerned about are Children’s Future

 Findings from MNYL NCAER India Financial Protection Survey:

o 81% of Indian household save.

51
 oIntent of savings very
high on children’s
education-81%
oHowever, because of
insufficient savings,
about 12% have to
depend on borrowing to
meet their future
expenses.

 Therefore, while
there is an intention to
save, the amount of
savings and the
instruments of savings
are just not sufficient.

(FIG 5.1 :
Competition update)

52
RECOMMENDATIONS

It is very imperative to ascertain the needs, priority and actual worth of a client before
providing any insurance plan or investment plan. And sometimes the need for buying life
insurance has to be arisen. It can be seen as follows:

5 reasons why health covers are a must

A health cover insures you against several illnesses and guarantees you stay financially
secure should you ever require treatment. The cover ensures you are taken care of by
compassionate and competent doctors at the best hospitals. It thus safeguards your peace of
mind, eliminates all worries about treatment expenses, and allows you to focus your energy
on more important things, like healing.

Indians at greater risk

Reason 1: Lifestyles have changed: Indians today suffer from high levels of stress. Long
hours at work, little exercise, disregard for a healthy balanced diet and a consequent

53
 dependence on junk food have weakened our immune systems and put us at an increased risk
of contracting illnesses.
Reason 2: Rare non-communicable diseases now common: Obesity, high blood pressure,
strokes, and heart attacks, which were earlier considered rare, now affect an increasing
number of urban Indians-almost every day.

Shocking Truths

 18% of the urban population suffers from hypertension, which leads

o to renal failure, stroke and cardio vascular diseases
 30% of the population suffers heart attacks before age 40
 66% of deaths today are due to cardio vascular diseases
 Almost 3.5 million Indians suffer from diabetes
 Cardiovascular diseases (CVDs) like heart disease and stroke are the main causes of
death and disability

The Cost Factor

Reason 3: Medical care is unbelievably expensive: Medical breakthroughs have resulted in

cures for dreaded diseases. These cures, however, are available only to a select few. High
operating expenses therapy for breast cancer costs as much as Rs. 2 lakh for 3 dayshave
restricted treatment to the richest. In fact, even among the affluent groups, 20% need to sell their
valuable assets so they can accumulate the required amount for their medication.

Reason 4: Indirect costs add to the financial burden: Indirect sources of expense travel, boarding
and lodging, and even temporary loss of income account for as much as 35% of the overall cost
of treatment. Most often, we overlook this fact when planning for medical expenses.

Reason 5: Incomplete financial planning: Most of us have insured our home, vehicle, child's
education, and even our retirement years. Ironically however, we have not insured our health.

54
We ignore the fact that illnesses strike without warning and seriously impact our finances and eat
into our savings in the absence of a good health cover.

No financial plan is complete without a comprehensive health cover. Birla Sun life provides
health plan, universal health plan, accidental assurances and many other health products. Each of
these plans provides you with guaranteed sums should you ever be diagnosed with a critical
illness. The benefit amount takes care of all your treatment costs and ensures your hard-earned
savings stay intact.

Need can be anse by doing the life line as I did with my customers to ascertain their needs and
their worth. They have to be made understood whether they are adequately insured.

Are You Adequately Insured ?

Sound health cover planning ensures you receive both, direct medical expenses and indirect
expenses, as soon as the need arises. When investing, choose a range of health plans that:

 Cover a wide spectrum of medical conditions from the most basic to the most critical.
 Include reimbursement and benefit-based plans, which enable you to meet specific health
risks and expenses as mentioned in the diagram below
An example: Canceralthough it does not occur as frequently as the common cold or
feverseverely drains one's finances as its treatment expenses are very high. Hence, it is
imperative to insure ourselves with a health plan that provides cover against Cancer.

Quick tip:
While selecting a health plan, ensure the plan:
 Provides long-term coverage
 Clearly mentions exclusions of cover
 Is guaranteed renewable
 Is backed by trusted name and gives the assurance of paying claims.

Personalized service which I have provided to the customer:

 Handling telephonic queries.

55
 Meeting new prospects to understand their requirement an offering them best product
in the market.
 Insuring that all customer enquiries are dealt effectively and updating customer data base.
 Maintaining regular contact with clients to generate references.
Responsible for providing regular and consistent service to the customer

CONCLUSION

Insurance is a social device in which a group of individuals (insured) transfer the risk to another
party (insurer) in order to combine the loss experience, which permits statistical prediction of the
losses and provides from payment of losses from the funds contributed (premiums) by all the
members who transferred risk.

BIRLA SUNLIFE DISTRIBUTION CO. LTD. is a premier financial powerhouse and a

leading international financial services group amongst the private sector that have the approval
from IRDA. Its equity stands at the highest and is the No.1 policy seller covering the distinct
parts of the country.
I would like to conclude both the positive as well as the negative aspects of this study:

BIRLA SUNLIFE DISTRIBUTION CO. LTD. is at the apex as it provides the maximum
56
number of premium payment options to its customers and has maintained the healthiest
customer satisfaction level in comparison of other life insurance companies. Some life
insurance companies qualifies with MNYL for providing online premium payment service,
they are KOTAK MAHINDRA LIFE, BAJAJ ALLIANZ LIFE, LIC OF INDIA and ING
VYSYA.

BIBLIOGRAPHY

BOOKS:
 Insurance and Risk management by P.K.Gupta

WEB SITES:

 WEALTH.BIRLASUNLIFE.COM
 WWW.GOOGLE.COM
 WWW.YAHOO.COM

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