``

SUMMER INTERNSHIP
REPORT ON
INVESTMENT IN INSURANCE
SECTOR
SUBMITTED TO:
SUBMTTED BY:
MR. AMAR JOHRI
RAMNEET KAUR
B.B.A. V
SEM
FINANCE

ACKNOWLEDGEMENT
Well to say this is my project would be totally untrue. At best this was my dream. There
are people in this world, some of them so wonderful that made this dream become a
project. I would like to thank all of them, and in particular :Especially, MR. SAURABH
GARG Franchise manager - who trained us about products and services of IDBI
FEDERAL INSURANCE and taught us how to deal with customer and to know there
need and analyze it so that to provide the customers with best and the suitable product.
The internship opportunity I had with IDBI FEDERAL was a great chance for learning
and professional development. Therefore, I consider myself as a very lucky individual as
I was provided with an opportunity to be a part of it. I am also grateful for having a
chance to meet so many wonderful people and professionals who led me though this
internship period.
Bearing in mind previous I am using this opportunity to express my deepest gratitude and
special thanks to the Prof. AMAR JOHRI who in spite of being extraordinarily busy
with his duties, took time out to hear, guide and keep me on the correct path and allowing
me to carry out my project at their esteemed organization and extending during the
training.
I express my deepest thanks to NAVEEN KAPOOR, AREA HEAD for taking part in
useful decision & giving necessary advices and guidance and arranged all facilities to
make life easier. I choose this moment to acknowledge his/her contribution gratefully.
I perceive as this opportunity as a big milestone in my career development. I will strive to
use gained skills and knowledge in the best possible way, and I will continue to work on
their improvement, in order to attain desired career objectives. Hope to continue
cooperation with all of you in the future,
THANKING YOU
RAMNEET KAUR

PREFACE
There is a famous saying The theory without practical is lame and practical without
theory is blind.
Investing in INSURANCE SECTOR helps us to secure our money and get future
benefits. It not only helps but also guide us the best place and techniques to invest our
money and get profits out of it. FOR EXAMPLE: TAX BENEFITS UNDER 80C AND
10(10D).
Finance is an important part of any business and also for a human being to get secure
their family from future uneven.
Our institution has come forward with the opportunity to bridge the gap by imparting
modern scientific management principle underlying the concept of the future prospective
managers.
To the emphasis on practical aspect of management education the faculty of GRAPHIC
ERA UNIVERSITY has with a modern system of practical training of repute and
following management technique to the student as integral part of GRADUATION in
accordance with the above obligation under going project in IDBI FEDERAL. The
title of my project is INVESTMENT IN INSURANCE SECTOR
Certainly this analysis explores my abilities and strength to its fullest extent for the
achievement of organization as well as my personal goal.

EXECUTIVE SUMMARY
My project is all about INSURANCE SECTOR in INDIA. In this project I will brief
about what is basically insurance, why we need to invest in these sectors, why it is
important etc. I am going to look at the Insurance market in INDIA and start to
introduce some of the key concepts and ideas behind LIFE INSURANCE.
WHAT IS INSURANCE?
INSURANCE is a contract between the insurance company (insurer) and the
policyholder (insured). In return for a consideration ( the premium), the insurance
company promises to pay a specified amount to the insured on the happing of a specific
event.
WHY IT IS NEEDED?
LIFE INSURANCE provides protection to a family on the untimely death of the income
provider. FOR EXAMPLE: If a person dies and he has a life insurance cover than the
family will receive money from the insurance company which can help them for their
survival. The insurance company will help to take care of the familys living expenses,
education and marriage etc.
Insurance, then, is nothing but a risk transfer mechanism wherein the person taking out
insurance transfers their risk to the insurance company in return for a payment( known as
premium).

The purpose of studying INSURANCE SECTOR is to get knowledge and spreading

awareness among people about the LIFE INSURANCE plans and products which can
help them whenever any uneven situations comes in their life.
In this project I have mentioned different types of products available with INSURANCE
COMPANY and how it gives benefits to people. Through this 1 month internship I come
across many situations as if dealing with people, convincing them by knowing their
needs and priorities and also customer satisfaction.
My basic study is on INSURANCE provided by IDBI FEDERAL which gives a proper
guideline in investing money and getting extra benefits in terms of tax, bonuses (terminal
bonus) and the fixed rate of return.
The PRODUCTS mentioned are GUARNTEED INSURANCE, WEALTH
INSURANCE last but not the least CHILDSURANCE PLAN.
The further study on the topic INSURANCE and INSURANCE PRODUCTS will clear
the path of investing money in a most appropriate place and taking out all kinds of
benefits and uses out of these insurance companies. This study will clear all doubts and
confusion which a human being had in him regarding investing in INSURANCE
SECTOR and will give a new view point to their investing plans.

DECLARATION BY STUDENT
I, the undersigned hereby the project report entitled INVESTMENT IN INSURANCE
SECTOR indentifying its importance with special reference to IDBI FEDERAL,
DEHRADUN written and submitted by me to GRAPHIC ERA UNIVERSITY in
partial fulfillments of requirements for the award of degree of BACHELORS OF
BUSINESS ADMINISTRATION under the guidance of Prof. MR. AMAR JOHRI, is
my original work and interpretations drawn therein are based on material collected by
myself.

PLACE: Dehradun
DATE:
NAME: Ramneet kaur kalra

INDUSTRY PROFILE
INTRODUCTION TO INSURANCE SECTOR IN INDIA

HISTORY OF INSURANCE IN INDIA

In India, insurance has a deep-rooted history. It finds mention in the writings of Manu
(Manusmrithi ), Yagnavalkya (Dharmasastra ) and Kautilya ( Arthasastra ). The writings
talk in terms of pooling of resources that could be re-distributed in times of calamities

such as fire, floods, epidemics and famine. This was probably a pre-cursor to modern day
insurance. Ancient Indian history has preserved the earliest traces of insurance in the
form of marine trade loans and carriers contracts. Insurance in India has evolved over
time heavily drawing from other countries, England in particular.

1818 saw the advent of life insurance business in India with the establishment of the
Oriental Life Insurance Company in Calcutta. This Company however failed in 1834. In
1829, the Madras Equitable had begun transacting life insurance business in the Madras
Presidency. 1870 saw the enactment of the British Insurance Act and in the last three
decades of the nineteenth century, the Bombay Mutual (1871), Oriental (1874) and
Empire of India (1897) were started in the Bombay Residency. This era, however, was
dominated by foreign insurance offices which did good business in India, namely Albert
Life Assurance, Royal Insurance, Liverpool and London Globe Insurance and the Indian
offices were up for hard competition from the foreign companies.

In 1914, the Government of India started publishing returns of Insurance Companies

in India. The Indian Life Assurance Companies Act, 1912 was the first statutory measure
to regulate life business. In 1928, the Indian Insurance Companies Act was enacted to
enable the Government to collect statistical information about both life and non-life
business transacted in India by Indian and foreign insurers including provident insurance
societies. In 1938, with a view to protecting the interest of the Insurance public, the
earlier legislation was consolidated and amended by the Insurance Act, 1938 with
comprehensive provisions for effective control over the activities of insurers.

The Insurance Amendment Act of 1950 abolished Principal Agencies. However, there
were a large number of insurance companies and the level of competition was high.
There were also allegations of unfair trade practices. The Government of India, therefore,
decided to nationalize insurance business.

An Ordinance was issued on 19th January, 1956 nationalising the Life Insurance
sector and Life Insurance Corporation came into existence in the same year. The LIC
absorbed 154 Indian, 16 non-Indian insurers as also 75 provident societies245 Indian
and foreign insurers in all. The LIC had monopoly till the late 90s when the Insurance
sector was reopened to the private sector.

The history of general insurance dates back to the Industrial Revolution in the west
and the consequent growth of sea-faring trade and commerce in the 17th century. It came
to India as a legacy of British occupation. General Insurance in India has its roots in the
establishment of Triton Insurance Company Ltd., in the year 1850 in Calcutta by the
British. In 1907, the Indian Mercantile Insurance Ltd, was set up. This was the first
company to transact all classes of general insurance business. 1957 saw the formation of
the General Insurance Council, a wing of the Insurance Associaton of India. The General
Insurance Council framed a code of conduct for ensuring fair conduct and sound business
practices.
In 1968, the Insurance Act was amended to regulate investments and set minimum
solvency margins. The Tariff Advisory Committee was also set up then.

In 1972 with the passing of the General Insurance Business (Nationalisation) Act,
general insurance business was nationalized with effect from 1st January, 1973. 107
insurers were amalgamated and grouped into four companies, namely National Insurance
Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company
Ltd and the United India Insurance Company Ltd. The General Insurance Corporation of
India was incorporated as a company in 1971 and it commence business on January 1sst
1973.

This millennium has seen insurance come a full circle in a journey extending to nearly
200 years. The process of re-opening of the sector had begun in the early 1990s and the
last decade and more has seen it been opened up substantially. In 1993, the Government
set up a committee under the chairmanship of RN Malhotra, former Governor of RBI, to
propose recommendations for reforms in the insurance sector.The objective was to
complement the reforms initiated in the financial sector. The committee submitted its
report in 1994 wherein , among other things, it recommended that the private sector be
permitted to enter the insurance industry. They stated that foreign companies be allowed
to enter by floating Indian companies, preferably a joint venture with Indian partners.

Following the recommendations of the Malhotra Committee report, in 1999, the

Insurance Regulatory and Development Authority (IRDA) was constituted as an
autonomous body to regulate and develop the insurance industry. The IRDA was
incorporated as a statutory body in April, 2000. The key objectives of the IRDA include
promotion of competition so as to enhance customer satisfaction through increased
consumer choice and lower premiums, while ensuring the financial security of the
insurance market.

The IRDA opened up the market in August 2000 with the invitation for application for
registrations. Foreign companies were allowed ownership of up to 26%. The Authority
has the power to frame regulations under Section 114A of the Insurance Act, 1938 and
has from 2000 onwards framed various regulations ranging from registration of
companies for carrying on insurance business to protection of policyholders interests.

In December, 2000, the subsidiaries of the General Insurance Corporation of India

were restructured as independent companies and at the same time GIC was converted
into a national re-insurer. Parliament passed a bill de-linking the four subsidiaries from
GIC in July, 2002.

Today there are 28 general insurance companies including the ECGC and Agriculture
Insurance Corporation of India and 24 life insurance companies operating in the country.

The insurance sector is a colossal one and is growing at a speedy rate of 15-20%.
Together with banking services, insurance services add about 7% to the countrys GDP. A
well-developed and evolved insurance sector is a boon for economic development as it
provides long- term funds for infrastructure development at the same time strengthening
the risk taking ability of the country.

 WHAT IS BASICALLY INSURANCE

When faced with an unexpected accident, you feel a need of security that wont
instigate you to beg for money at the eleventh hour. Any kind of protection or a
safety net is welcomed rather than having nothing.
Insurance, in the simplest terms, means you pay a lump sum to get a leverage or
protection against an incident of a large magnitude. So, when the unexpected
misfortune is encountered, the insurance company can step in, helping you out to sail
through the dirt.
In all we can define insurance as:
Insurance is a contract between the insurance company (insurer) and the
policyholder (insured). In return for a consideration (the premium), the
insurance company promises to pay a specified amount to the insured on the
happening of a specific event.
Insurance comes in many forms and types. You can have liability, life, health, auto or
property insurance and much more. This protection is for other people-people
dependent upon you for one thing or another. Property insurance is young protection
procurement against damage to your home items like unexpected loss under floods,
fir attack or other natural freaks. All professionals persons like doctors, lawyers, get
insured for their specific profession under professional liability insurance.

LURS & NEED

Is it necessary to be insured? Many of us keep writing off checks per month and
never exercise the insurance rights. That way, the monthly investment for a security,
or protection, you may never need, seems stupid.
Insurance is actually the fuel, allowing the powerful countries (like USA) economic
engine to keep running! It not only provides you protection, but lends security to all
and everybody near you. The amounts, paid per month in insurance, keeps the
economy floating, ensuring that banks have enough moving cash to keep business
and industries running up. Insurance is simply a mutual interest between you and the
bank. You get back complete recovery plan and coverage in case of any misfortune,
natural or man brought.

Can you fight off against an unexpected disaster by yourself? If you think you can,
then
That is great; otherwise, insurance is your best shot. Insurance means you do not
have to be on the streets, if someone the main family bread earner passes away, or
the roof over your road to quick salvation.
The greatest asset insurance bestows is the absolute peace in case of most traumatic
moments of ones life. A dying man, who is insured for life, would breathe his/her
last in complete peace, knowing he/she can pass without fretting over the financial
state of his/her family. In automobile accident, you do not lay down in a panic attack,
if the vehicle is properly insured. Hence, it would be justifiable to claim that
insurance brings an extra strength to face the worst upsets of life.

LOOK UP FACTORS:
Insurance is an addiction. No matter how much protection it gives against all
probable risks; one needs to walk with care, lest he/she is drowned in all the lure and
whirlwind of the insurance mania. The market, at present, is full of million types of
insurances, so it is hard to figure where to stop.
Keep in mind that human life can never be without a risk. The best way to deal with
risks is to get insured. One has to buy protection if not for himself/herself, but for the
family-that is why insurance structure exists and functions in the world.

THIS WAS ALL ABOUT INSURANCE SECTOR IN INDIA. FROM THIS

INSURANCE WE CAN NOT ONLY SECURE OUR FAMILY BUT CAN
ALSO PROVIDE THEM VARIOUS BENEFITS.
NOW I WOULD LIKE TO FOCUS ON WHAT IS LIFE INSURANCE
BASICALLY???????

What Is Life Insurance?

A life insurance policy is a contract with an insurance company. In exchange for
premiums (payments), the insurance company provides a lump-sum payment, known as a
death benefit, to beneficiaries in the event of the insured's death.
Typically, life insurance is chosen based on the needs and goals of the owner. Term life
insurance generally provides protection for a set period of time, while permanent
insurance, such as whole and universal life, provides lifetime coverage. It's important to
note that death benefits from all types of life insurance are generally income tax-free.1
There are many varieties of life insurance. Some of the more common types are
discussed below.

Term life insurance

Term life insurance is designed to provide financial protection for a specific period of
time, such as 10 or 20 years. Typically, premiums are level and guaranteed for that time.
After that period, policies may offer continued coverage, usually at a substantially higher
premium rate. Term life insurance is generally a less costly option than permanent life
insurance.

Needs it helps meet: Term life insurance proceeds are most often used to replace lost
potential income during working years. This can provide a general safety net for your
beneficiaries and can also help ensure the family's financial goals will still be metgoals
like paying off a mortgage, keeping a business running, and paying for college.
It's important to note that, although term life can be used to replace lost potential income,
life insurance benefits are paid at one time in a lump sum, not in regular payments like
paychecks.

 Universal life insurance

Universal life insurance is another type of permanent life insurance designed to provide
lifetime coverage. Unlike whole life insurance, universal life insurance policies are
flexible and may allow you to raise or lower your premium or coverage amounts
throughout your lifetime. Like whole life insurance, universal life also has a tax-deferred
savings component, which may build wealth over time. Additionally, due to its lifetime
coverage, universal life typically has higher premiums than term.

Needs it helps meet: Universal life insurance is most often used as a flexible estate
planning strategy to help preserve wealth to be transferred to beneficiaries. Another
common use is long term income replacement, where the need extends beyond working
years. Some universal life insurance product designs focus on providing both death
benefit coverage and building cash value while others focus on providing guaranteed
death benefit coverage.
Whole life insurance
Whole life insurance is a type of permanent life insurance designed to provide lifetime
coverage. Because of the lifetime coverage period, whole life usually has higher
premiums than term life. Policy premiums are typically fixed, and, unlike term, whole
life has a cash value, which functions as a savings component and may accumulate taxdeferred over time.
Fidelity does not currently offer whole life insurance.

Needs it helps meet: In addition to providing lifetime coverage, whole life is commonly
used to accumulate tax-deferred savings. Whole life can also be used as an estate
planning tool to help preserve the wealth you plan to transfer to your beneficiaries.

Comparing Types of Life Insurance

Term Life
Insurance

Universal Life Insurance Whole Life

Insurance

Needs it helps
meet

Income
replacement in a
lump sum

Wealth transfer, income

protection and some
designs focus on taxdeferred wealth
accumulation

Wealth transfer
preservation and taxdeferred wealth
accumulation

Protection
period

Designed for a
specific period
(usually a number
of years)

Flexible; generally, for a

lifetime

For a lifetime

Cost
differences

Typically less
expensive than
permanent

Generally more expensive Generally more

than term
expensive than term

Premiums

Typically fixed

Flexible

Typically fixed

Proceeds paid Yes, generally

to beneficiaries income tax-free

Yes, generally income tax- Yes, generally income

free
tax-free

Investment
options

No

No2

No

May help build No

equity

Yes

Yes

Available
through
Fidelity

Yes, Fidelity Term Yes, Universal Life

Life Insurance3
Insurance, primarily
focused on death benefit
protection

Not currently offered

Advantages of Life Insurance

ADVANTAGES OF LIFE INSURANCE

Life Insurance provides the dual benefits of savings and security. The following benefits
explain why this investment tool should be an integral part of your financial plans.
Risk Cover - Life today is full of uncertainties; in this scenario Life Insurance ensures that your
loved ones continue to enjoy a good quality of life against any unforeseen event.
Planning for life stage needs - Life Insurance not only provides for financial support in the event of
untimely death but also acts as a long term investment. You can meet your goals, be it your children's
education, their marriage, building your dream home or planning a relaxed retired life, according to
your life stage and risk appetite. Traditional life insurance policies i.e. traditional endowment plans,
offer in-built guarantees and defined maturity benefits through variety of product options such as
Money Back, Guaranteed Cash Values, Guaranteed Maturity Values.
Protection against rising health expenses - Life Insurers through riders or stand alone health
insurance plans offer the benefits of protection against critical diseases and hospitalization expenses.
This benefit has assumed critical importance given the increasing incidence of lifestyle diseases and
escalating medical costs.
Builds the habit of thrift - Life Insurance is a long-term contract where as policyholder, you have to
pay a fixed amount at a defined periodicity. This builds the habit of long-term savings. Regular
savings over a long period ensures that a decent corpus is built to meet financial needs at various life
stages.

Safe and profitable long-term investment - Life Insurance is a highly regulated sector. IRDA, the
regulatory body, through various rules and regulations ensures that the safety of the policyholder's
money is the primary responsibility of all stakeholders. Life Insurance being a long-term savings
instrument, also ensures that the life insurers focus on returns over a long-term and do not take risky
investment decisions for short term gains.
Assured income through annuities - Life Insurance is one of the best instruments for retirement
planning. The money saved during the earning life span is utilized to provide a steady source of
income during the retired phase of life.
Protection plus savings over a long term - Since traditional policies are viewed both by the
distributors as well as the customers as a long term commitment; these policies help the
policyholders meet the dual need of protection and long term wealth creation efficiently.
Growth through dividends - Traditional policies offer an opportunity to participate in the economic
growth without taking the investment risk. The investment income is distributed among the
policyholders through annual announcement of dividends/bonus.
Facility of loans without affecting the policy benefits - Policyholders have the option of taking
loan against the policy. This helps you meet your unplanned life stage needs without adversely
affecting the benefits of the policy they have bought.
Tax Benefits-Insurance plans provide attractive tax-benefits for both at the time of entry and exit
under most of the plans.
Mortgage Redemption- Insurance acts as an effective tool to cover mortgages and loans taken by
the policyholders so that, in case of any unforeseen event, the burden of repayment does not fall on
the bereaved family.

 TYPES OF LIFE INSURANCE

When Mr. Mehta decided to get life insurance to protect himself and his family, he had to
be sure he was choosing the right policy. He had to buy a life insurance policy that caters
to his needs, as well as his sons education needs and his daughter's marriage expenses.
He was clear about that. These decisions could not be taken lightly anymore. When he
was faced with his own mortality, it gave him the push he needed to save wisely and save
for the future. His life insurance company helped him derive a formula that best suited
his requirements and the requirements he has for his children. The various life insurance
policies he could choose from are listed below:
Term Insurance
This type of life insurance policy is a contract between the insured and the life insurance
company to pay the persons/s he has given entitlement to receive the money, in the case
of his/her death, after a certain period of time. These policies can be taken for 5, 10, 15,
20 or 30 years.

Endowment Policy
In an endowment policy, periodic premiums are received by the insured person and a
lump sum is received either on the death of the insured or once the policy period expires.
Money Back Life Insurance Policy
This policy offers the payment of partial survival benefits (money back), as is determined
in the insurance contract, while the insured is still alive. In case the insured dies during
the period of the policy, the beneficiary gets the full sum insured without the deduction
of the money back amount given so far.
Group Life Insurance
This is when a group of people have been named under a single life insurance policy. It is
popular for an employer or a company to add employees under the same policy. Each
member of the group has a certificate as legal evidence of insurance.
Unit Linked Insurance Plan
ULIPs (Unit Linked Insurance Plan) offer the insured the double benefit of protection
from risk and investment opportunities. ULIPs are linked to the market where the
insureds money is invested to help earn additional monetary benefits.

NOTE: After gathering information on insurance, types of insurance and a brief study on
life insurance I would to focus on my main topic i.e. about IDBI FEDERAL,
PRODUCTS OFFERED BY IDBI FEDERAL

 COMPANY PROFILE
HISTORY ON IDBI BANK
Industrial Development Bank of India (IDBI Bank) is today one of Indias largest
commercial Banks. For over 40 years, IDBI Bank has essayed a key nationbuilding role,
first as the apex Development Financial Institution (DFI) (July 1, 1964 to September 30,
2004) in the realm of industry and thereafter as a fullservice commercial Bank (October
1, 2004 onwards). As a DFI, the erstwhile IDBI stretched its canvas beyond mere project
financing to cover an array of services that contributed towards balanced geographical
spread of industries, development of identified backward areas, emergence of a new spirit
of enterprise and evolution of a deep and vibrant capital market.
On October 1, 2004, the erstwhile IDBI was converted into a Banking company (as
Industrial Development Bank of India Limited) to undertake the entire gamut of Banking
activities while continuing to play its secular DFI role. Post the mergers of the erstwhile
the bank with its parent company (IDBI Ltd.) on April 2, 2005 (appointed date: October
1, 2004) and the subsequent merger of the erstwhile United Western Bank with IDBI
Bank on October 3, 2006, the techsavvy, new generation Bank with majority
Government shareholding today touches the lives of millions of Indians through an array
of corporate, retail, SME and Agri products and services.
Headquartered in Mumbai, IDBI Bank today rides on the back of a robust business
strategy, a highly competent and dedicated workforce and a stateoftheart information
technology platform, to structure and deliver personalized and innovative Banking
services and customized financial solutions to its clients across various delivery channels.
Services

Retail banking: It provides a wide range of products and services like deposits, loans,
NRI services, demat, pension account, mobile banking, internet banking, investment
schemes such as mutual fund, insurance products, bonds, debentures etc.

Corporate banking: It provides corporates project finance, film finance, foreign

currency loan, working capital finance, treasury products, etc.

Agri business and microfinance: It provides finance to agri businesses in the form of
dairy loans, farm mechanization loans, financing for fisheries, poultry, piggery,
warehouse receipt finance, etc.

SME: IDBI Bank also offers products and services to SME sector.

Subsidiaries of the bank

IDBI Capital Markets

IDBI Intech

IDBI Asset Management

Milestones and Recognition

IDBIs long term foreign currency debt was given Baa2 rating by Moodys
reflecting strong government ownership and control.

IDBI Bank was assigned BBB rating by Standard's & Poor and Fitch, which
represents strong market position.

IDBIs longterm bonds, fixed deposits and shortterm borrowing are rated by
CRISIL, ICRA and Fitch, reflecting high safety in respect to timely payment of
interest and principal.

2010
IDBI Bank launches Portfolio Investment Scheme (PIS)2011
IDBI Bank Launches Aadhaar Enrolment in Bihar
IDBI Bank Launches Aadhaar Enrolment in Kerala
IDBI Bank Launches Aadhaar Enrolment in Chennai
IDBI Bank Ltd. Awarded the ISO 9001: 2008 Certification for its Customer Care
Centre and InHouse Journal.
IDBI Bank Wins the Dun & Bradstreet Banking Awards 2011 for Best Bank & Best
Public Sector Bank.
IDBI Bank launches Being Me Savings Account For the Youth on International
Youth Day.
IDBI Bank Launches Magic Card.

2012
IDBI Bank Launches Urban Financial Inclusion Programme at Dhobi Ghat

IDBI Bank Launches Kisan Credit Smart Card

IDBI Bank Receives Greentech CSR Award
IDBI Bank launches Floating Rate Interest on Retail Term Deposit (FRTD)
IDBI Bank launches IDBI Samriddhi CD Portal
IDBI Bank Launches 24*7 Loan Monitoring System for its Retail and Corporate
Clients
IDBI Bank Launches MSE Focused Branch in Jalandhar.
IDBI Bank launches India's first online Retail GSec Portal.

2013
IDBI Bank Introduces Digital Signature based authentication for Corporate Inet
Banking Channel
IDBI Bank introduces online PPF Subscription Facility
IDBI Bank establishes inland Letter of Credits (LCs) through Structured Financial
Messaging System (SFMS) and introduces issuance of BRC in electronic form.

2014
IDBI Bank wins the 3rd Annual Greentech CSR Award for the year 2013
IDBI Bank Wins the Golden Peacock CSR Award for the year 2013
IDBI Bank Launches Kiosk Banking Solution under Financial Inclusion and donated
Solar lamps to Chinchvali Gram Panchayat under CSR.

The Present
Today, IDBI Bank is counted amongst the leading public sector banks of India, apart from claiming the
distinction of being the 4th largest bank, in overall ratings. It Is presently regarded as the tenth
largest development bank in the world, mainly in terms of reach. This is because
of its wide network of 1474 branches, 2649 ATMs and 1 0 5 2 c e n t e r s . Ap a r t f r o m
b e i n g i n v o l v e d i n b a n k i n g s e r v i c e s , I D B I h a s s e t u p institutions like The
National Stock Exchange of India (NSE), The National Securities Depository Services Ltd. (NSDL) and
the Stock Holding Corporation of India (SHCIL).

 OBJECTIVES & FUNCTIONS OF IDBI

Objectives

The main objectives of IDBI is to serve as the apex institution for term finance for
industry in India. Its objectives include:

Co-ordination, regulation and supervision of the working of other financial

institution such as IFCI, ICICI, UTI, LIC, Commercial Banks and SFCs.

Supplementing the resources of other financial institutions and there by widening

the scope of their assistance.

Planning, promotion and development of key industries and diversification of

industrial growth.

Devising and enforcing a system of industrial growth that conforms to national

priorities.

Functions
The IDBI has been established to perform the following functions To grant loans and advances to IFCI, SFCs or any other financial institution by way of
refunding of loans granted by such institution which are repayable within 25 year.
To grant loans and advances to scheduled banks or state co-operative banks by way of
refinancing of loans granted by such institution which are repayable in 15 years.
To grant loans and advances to IFCI, SFCs, other institutions, scheduled banks, state cooperative banks by way of refinancing of loans granted by such institution to industrial
concerns for exports.
To discount or re-discount bills of industrial concerns.

 To underwrite or to subscribe to shares or debentures of industries concerns.

To subscribe to or purchase stock, shares, bonds and debentures of other financial
institutions.
To grant line of credit or loans and advances to other financial institutions such as IFCI,

SFCs, etc.
To grant loans to any industrial concern.
To guarantee deferred payment due to any industrial concern.
To guarantee loans raised by industrial concerns in the market or from institutions.
To provide technical, legal, marketing and administrative assistance to any industrial

concern or person for promotion, management or expansion of any industry.

Planning, promotion and developing industries to fill up gaps in the industrial structure in
India.
To act as trustee for the holders of debentures or other securities.

About IDBI Federal Life Insurance

IDBI Federal Life Insurance Co Ltd is a joint-venture of IDBI Bank, Indias premier
development and commercial bank, Federal Bank, one of Indias leading private sector
banks and Ageas, a multinational insurance giant based out of Europe. In this venture,
IDBI Bank owns 48% equity while Federal Bank and Ageas own 26% equity each. .
Having started in March 2008, in just five months of inception, IDBI Federal became one
of the fastest growing new insurance companies to garner Rs 100 Cr in premiums.
Through a continuous process of innovation in product and service delivery IDBI Federal
aims to deliver world-class wealth management, protection and retirement solutions that
provide value and convenience to the Indian customer. The company offers its services
through a vast nationwide network of 2137 partner bank branches of IDBI Bank and
Federal Bank in addition to a sizeable network of advisors and partners. As on 28th
February 2013, the company has issued over 8.65 lakh policies with a sum assured of
over Rs. 26,591 Cr.
IDBI Federal today is recognized as a customer-centric brand, with an array of awards to
their credit. They have been awarded the PMAA Awards (2009) for best Dealer/Sales
force Activity, EFFIE Award (2011) for effective advertising, and conferred with the
status of Master Brand 2012-13 by the CMO Council USA and CMO Asia

History

2006: IDBI Bank, Federal Bank and Belgian-Dutch insurance major Forties Insurance
International NV signed a MoU to start a life insurance company

2008: IDBI Forties Life Insurance Co. Ltd., which started its operations in March 2008

2008: IDBI Forties opens its second branch in Andhra Pradesh in Vijay Wada

2008: IDBI Forties Life positive on assured return products

2008: IDBI Forties launches the Bondsurance Plan

2009: IDBI Forties announces Rs 250cr capital infusion

2009: Nimbus ropes in IDBI Forties as title sponsor of IndiaSri Lanka series

2009: 'IDBI Forties' Boss-Ka-Boss receives PRCI Award

2009: IDBI Forties launches Retiresurance Pension Plan

2009: IDBI Forties scores with Goalsurance

2009: IDBI Forties reaches the banks of Hoogly

2009: IDBI Forties launches Incomesurance Immediate Annuity

2009: IDBI Forties Life Insurance uses an interactive application to help users
easily calculate their taxes

2009: IDBI Forties reaches the City of Eastern Light

2009: IDBI Forties receives bronze Dragon at 'PMAA 2009'

2009: IDBI Forties Life Insurance introduces financial inclusion plan in rural
Orissa

2009: IDBI Forties launches Termsurance Protection Plan

2009: IDBI Forties redefines endowment & money back with Incomesurance

2009: IDBI Forties to open 65 more branches; raise headcount by 1,000

2010: IDBI Forties now renamed as IDBI Federal Life Insurance Company.

Technology
To monitor and manage its network equipment across 34 sites, IDBI Forties uses Tulip
Proactive Managed CE solution. The solution includes device management, proactive
troubleshooting and notification support. With the implementation of the solution, IDBI
has reported improvement of network performance and availability, with a faster, more
effective change and configuration management.

Products
IDBI Forties launched its first set of products across India in March 2008, after receiving
the requisite approvals from the Insurance Regulatory and Development Authority
(IRDA). IDBI Forties offers services through a nationwide network across the branches
of IDBI Bank and Federal Bank in addition to a network of advisors and partners. IDBI
Forties has 35 branches across the country.

Sponsorships, Awards

IDBI Forties Life Insurance Company was selected as the title sponsor for the India-Sri
Lanka Cricket Series 2009, consisting of five One-Day Internationals and a Twenty 20
match. The ODI series will be called the IDBI Forties Wealthsurance Cup. This will be
followed by the IDBI Forties Wealthsurance Twenty20.

Wealthsurance Made Easy (WME), a knowledge aid by IDBI Forties for its sales force,
won The Bronze Dragon in the category for Best Dealer/Sales Force activity at the
Promotion Marketing Awards of Asia (PMAA).
About the sponsors of IDBI Federal Life Insurance Co Ltd
IDBI Bank Ltd. continues to be, since its inception, Indias premier industrial
development bank. It came into being as on July 01, 1964 (under the Companies Act,
1956) to support Indias industrial backbone. 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 1077 branches and 1702 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 Bank has been instrumental in sponsoring the development
of key institutions involved in Indias financial sector National Stock Exchange of India
Limited (NSE) and National Securities Depository Ltd, SHCIL (Stock Holding
Corporation of India Ltd), CARE (Credit Analysis and Research Ltd).

FEDERAL BANK

Type

Public
NSE:FEDERALBANK

Trade as

BSE: 500469
LSE: FEDS

Industry

Banking and allied industries

Founded

Kochi, 1945
Federal

Headquarters

Aluva,

Towers,
Kochi

683

101,

Kerala, India.
Key people

Shyam Srinivasan (CEO)

Products

Loans, Savings, etc.

Website

www.federalbank.co.in

Federal Bank is one of Indias leading private sector banks, with a dominant presence in
the state of Kerala. It has a strong network of over 1060 branches and 1158 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. In addition to interconnected branches
and ATMs, the Bank has a wide range of services like Internet Banking, Mobile Banking,
Tele Banking, Any Where Banking, debit 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

History
In the year 1931, Travancore Federal Bank was inaugurated at Vengal Varuttisseril at
Nedumpuram, near Tiruvalla, Kerala. The 14 founders included Sri Vengal Varuttisseril
Oommen Varghese, his brothers Oommen Chacko, Oommen Kurian, Oommen George
and also another person from Tiiruvalla, Kavumbhagam Mundapallil Lukose, and others.
Oommen Varghese was the Chairman and Oommen Chacko the Manager. After it had
functioned for nearly 10 years, the bank's day to day transaction had to be stopped due to
the ill-health of the Manager.

Understanding this situation, a lawyer from Perumbavoor named Sri K.P.Hormis and his
acquaintances joined together, bought the bank and took over the management. In 1945,
they moved the bank's registered office to Aluva and Hormis became the Managing
Director. In 1947, the bank's name was shortened from Travancore Federal Bank to
Federal Bank.

In 1970, the bank became a Scheduled Commercial Bank. Recently, it opened a

representative office in Dubai.

Acquisitions and Mergers

In 1964, the bank embarked on a series of acquisitions that would substantially increase
its size. It acquired the Chalakudy Public Bank in Chalakudy, the Cochin Union Bank in
Thrissur, and the Alleppey Bank in Alappuzha.

In 1965, it acquired the St.George Union Bank in Puthenpally.

In 1968, it acquired the Marthandom Commercial Bank in Thiruvananthapuram.

In 2006, Federal Bank acquired Ganesh Bank of Kurundwad after the Reserve Bank of
India suspended the bank. Established in 1920, Ganesh Bank had its headquarters at

Kurundwad, Maharashtra. The bank had a network of 32 branches and its operations
were concentrated in Sangli and Kolhapur in Maharashatra and Belgaum in Karnataka.
Prior to the merger, Federal Bank had 20 branches in Maharashtra.

In March 2008, Federal Bank entered into a joint venture with IDBI Bank and Fortis
Insurance International to form IDBI Fortis Life Insurance, of which Federal Bank owns
26 percent. The company ended the year with over 300 Cr in premiums as on 31 March
2009.

On 24 August 2010, IDBI Fortis, rejuvenated as IDBI Federal Life Insurance with Aegas
of Belgium.

Ageas
Ageas

N.V./S.A.

(Belgium)

Ageas N.V. (Netherlands)

Type
Traded as

Naamloze vennootschap / Socit

anonyme
Euronext: AGS

Industry

Financial services

Predecessor(s) Fortis Holding

Founded
Headquarters

Key people

1990 (as Fortis); 2010 (as Ageas)

Brussels,

Belgium

Utrecht, Netherlands
Jozef De Mey (Chairman), Bart de
Smet (CEO)

Products

Insurance

Revenue

13.65 billion (2010)

Profit

223.1 million (2010)

Total assets

99.17 billion (end 2010)

Total equity

9.869 billion (end 2010)

Employees

11,710 (end 2010)

Website

www.ageas.com

Ageas is an international insurance group with a heritage spanning more than 180 years.
Ranked among the top 20 insurance companies in Europe, Ageas has chosen to
concentrate its business activities in Europe and Asia, which together make up the largest
share of the global insurance market. These are grouped around four segments: Belgium,
United Kingdom, Continental Europe and Asia and served through a combination of
wholly owned subsidiaries and partnerships with strong financial institutions and key
distributors around the world. Ageas operates successful partnerships in Belgium, UK,
Luxembourg, Italy, Portugal, Turkey, China, Malaysia, India and Thailand and has
subsidiaries in France, Hong Kong and UK. Ageas is the market leader in Belgium for
individual life and employee benefits, as well as a leading non-life player through AG
Insurance. In the UK, Ageas has a strong presence as the fourth largest player in private
car insurance and the over 50s market. Ageas employs more than 13,000 people and has
annual inflows of more than EUR 21 billion.

History
The company's roots reach back to the 1824 foundation of the Belgian life insurer
Assurances Gnrales (now AG Insurance).[2] In 1990 AG merged with the Netherlandsbased bancassurer AMEV/VSB to form Fortis. AMEV/VSB had itself been formed
earlier that year by the combination of savings bank VSB (Verenigde Spaarbank) and
insurer AMEV, which took advantage of the recent relaxation of Dutch legislation
preventing mergers between banks and insurers. AMEV had originally been founded in
Utrecht in 1920 as Algemeene Maatschappij tot Exploitatie van
Verzekeringsmaatschappijen (English: General Society for Operation of Insurance).

After its creation in 1990, Fortis expanded its offerings to include private and investment
banking and asset management, establishing subsidiaries around the world, and by 2007
it had become the 20th largest business in the world by revenue. That year Fortis agreed
to jointly purchase ABN AMRO with Banco Santander and Royal Bank of Scotland
Group, but the onset of the major financial crisis exacerbated problems with financing its
part of the large acquisition and prompted fears of impending insolvency. Considered
"too big to fail", Fortis received an 11.2 billion bailout from the Benelux governments
and saw its retail banking operations in Belgium sold to BNP Paribas and its insurance
and banking subsidiaries in the Netherlands nationalised.

The remaining assets of the company, consisting principally of insurance operations but
also including some distressed assets, were rebranded Fortis Holding. In April 2010 its
shareholders agreed a formal change of name to Ageas N.V. /S.A., with ownership of the
Fortis brand passing to BNP Paribas.

Operations
The company is the largest provider of insurance in Belgium, owning 75% of AG
Insurance the remainder is held by Fortis Bank N.V./S.A., which was sold to BNP Paribas
in 2009). Products are sold through independent agents, brokers and financial planners,
and through branches of BNP Paribas Fortis and its subsidiary Banque de La Poste/Bank
van De Post.

Ageas also wholly owns the subsidiary Ageas Insurance International (formerly Fortis
Insurance International), through which it is the United Kingdom's third-largest provider
of private vehicle cover and fourth-largest provider of travel insurance through

subsidiaries such as Kwik Fit Insurance. Fortis Insurance International also operates in
France, Germany, Turkey, Ukraine and Hong Kong and holds partnerships or joint
ventures in Luxembourg, Italy, Portugal, China, Malaysia, India and Thailand. In
addition, Ageas holds 45% of Royal Park Investments, a special purpose vehicle which
manages a portfolio of "toxic" structured credit assets previously held by Fortis Bank.

PRODUCTS OFFERED BY IDBI FEDERAL INSURANCE

At IDBI Federal, its our constant endeavor to create innovations that create value for our
customers. These innovations are brought to life through our wide array of products that
fit the varying financial and investment needs at different stages of life.

Secure your childs future.

At every step.
A savings plan to support your childs important milestones
Being a good parent means making sure your child gets good education so that her future
stays secure. The cost of education has shot up significantly and is expected to rise
further. Add to that the cost of your childs marriage or giving her a head start in career. It
is therefore important for you to stay prepared. Plan early to help your childs dreams
come true tomorrow and support her at every important milestone of life. Go ahead;
secure your childs future. At every step!
PLAN OVERVIEW
IDBI Federal Childsurance Savings Protection Plan (UIN: 135N032V01) is a nonlinked participating endowment plan that ensures your childs future financial needs are
fulfilled. Childsurance Savings, is designed to give you guaranteed annual payouts and
aid the important milestones in your childs life. Whats more, in the unfortunate event of
you not being around, the policy will continue exactly as you had planned it, without any

further premiums being paid. .In other words, this plan ensures that your child gets to live
his/her dream exactly as you have planned, whether or not you are around.

Age at entry - Insured Person Minimum 18 years

(Parent)
Maximu
Regular payment option: 40 years
m
Limited payment option: 50 years
Age at entry - Nominee
(Child)

Greater than one month and less than 18 years of age

Maturity age (Insured

Person)

Minimum 28 years

Policy term

Minimum 10 years

Maximu
m

Maximu
m

Regular payment option: 65 Years

Limited payment option: 75 years

25 years

Premium payment term

Regular payment option: Equal to policy

term
Limited payment option: 5 years less
than the policy term

Premium payment frequency

Yearly, and monthly by ECS, standing

instructions or direct debit only

Premium
(exclusive of service tax and
education cess)

Minimum Yearly: Rs.10,000, Monthly: Rs.1,000

Loading factor of 0.09 is applicable for
monthly premium payment frequency
Maximu
m

Maturity Sum Assured

No limit (subject to underwriting)

Minimum Subject to above minimum premium

Maximu
m

No limit, subject to underwriting

WHY CHILDSURANCE?????
Guaranteed annual payouts for important milestones

Childsurance gives you guaranteed annual payouts either in the last 3 or last 5 years of
the policy, depending on the policy term you choose.
Bonuses to add to your savings
Right from the 1st year, you get reversionary bonus. Along with reversionary bonus,
interim and terminal bonuses (if any) would also be paid out at maturity.
Immediate payout of lump sum in case of your unfortunate death
In case of an unfortunate event, the death sum assured will provide for your childs
immediate needs.
Waiver of future premiums
In case of an unfortunate event of you not being around, all future premiums of the policy
will be waived off.
Plan continues and benefits are paid as planned
Even in the unfortunate event of death, the guaranteed annual payouts and bonuses will
be paid on their respective due dates.
Two tax benefits
Childsurance allows you to enjoy deductions under Section 80C of the Income Tax Act,
1961 on the premiums you pay. It also gives you maturity amount that is tax-free under
section 10(10D). Childsurance offers you tax benefits for all the payouts.
Flexibility to plan for your needs
With Childsurance, you have the option of choosing the maturity sum assured, policy
term, premium payment term, and payment mode as per your childs future needs.
Exclusive fund for your loved ones
By endorsing your Childsurance policy under the Married Womens Property Act,
1874, you can create an exclusive fund for your loved ones which is legally protected
from creditors and claimants.
Loan facility
In case of an emergency, you can avail of the loan facility on your policy. Loan is
available once the policy attains surrender value. For more on loans please refer to the
product brochure.

 HOW DOES THE PLAN WORKS???

We recommend you follow the steps given below while buying Childsurance Savings:
Decide the amount of guaranteed annual payouts you would need. This will depend on
your plans for your childs future.
Basis the amount of payouts, you should choose the Maturity Sum Assured (MSA).
Guaranteed annual payouts are percentages of MSA such that sum of all guaranteed
annual payouts equal to the MSA.
Next, choose when and for how long you would need the payouts the difference
between your childs current age and the age at which the guaranteed annual payouts
should end, will be the policy term. Accordingly, you will know whether you will get 3 or
5 guaranteed annual payouts. This can help you plan your childs future better.

If you choose a Policy Term of 10 to 14 years, you will receive 3 Guaranteed annual
payouts as 20%, 20% and 60% of MSA in the corresponding last 3 years of your
policy. If you choose a Policy Term of 15 to 25 years, you will receive 5 Guaranteed
annual payouts s in the last 5 years of your policy with 20% of Maturity Sum
Assured each year.

The illustration below explains how the product works for a limited premium policy with
a policy term of 14 years.

This second illustration below explains how the product works

for a limited premium

policy with a policy term of 20 years

What are the benefits of Childsurance Savings?

The maturity benefit of your Childsurance Savings policy payable is the aggregate of the
maturity sum assured and the declared bonuses.
Maturity Sum Assured: It is the sum assured that is used to determine your premium and
maturity benefit. It is paid out as guaranteed annual payouts at important milestones for
your child. You can choose your maturity sum assured based on the amount of
guaranteed annual payouts you wish to receive.

i) Guaranteed annual payouts

Childsurance Savings gives guaranteed annual payouts either in the last 3 or the last 5
years of your policy, depending on the policy term that you choose. The policy term is
the number of years for which you have chosen to have insurance cover.
The table below shows a breakup of the guaranteed annual payouts:

Balance
policy term
Policy
Term
10 to 14
years

15 to 25
years

Guaranteed Annual Payouts(% maturity sum assured)

4 years
3 years
2 years
1 year

At maturity

Nil

nil

20%

20%

60%

20%

20%

20%

20%

20%

ii) Bonuses
Your Childsurance Savings policy will participate in the profits of our participating
policyholders life fund by way of reversionary bonuses and terminal bonus, if any.
Bonuses are linked to the profits of the participating life fund and depend on the future
experience and performance of the fund. The bonuses will be declared by the Board of
IDBI Federal Life Insurance Company each year, and once added, they will form part of

the guaranteed benefits of the policy. The company may declare an interim bonus in the
event of a claim made before the subsequent bonus declaration.
Bonus is always applied on maturity sum assured.

Death Benefit
In the unfortunate event of your death during the term of the policy, the death sum
assured is paid immediately. Additionally, the future premiums are waived and your
nominee would be paid the guaranteed annual payouts on their respective due dates.
Your policy will continue to participate in the surplus of the participating policyholders
life fund and the vested reversionary bonuses along with the terminal bonus, if any,
would be paid at the end of the term.

Death sum assured:

The death sum assured is higher of 10 times annualised premium (for age less than 45)
and 7 times annualised premium (for age 45 and above) .Maturity sum assured
Death benefit:
On death of the insured person the following death benefit will be paid Death sum
assured, paid immediately on death, plus Future guaranteed annual payouts, to be paid on
their due dates, plus Bonuses to be paid at end of term We will also ensure that the
minimum death benefit paid will be equal to 105% of all premiums paid till date of death
(excluding extra mortality premiums, services tax and cess, if any).

Flexibility to Choose a Plan to Suit Your Needs

Childsurance Savings is a flexible plan, and can be customised to suit your needs.
i) Choose your policy term: You can choose any policy term from a minimum of 10
years to a maximum of 25 years. You can choose a term in a way that you start receiving
your payouts in time for your childs educational expenses like graduation or post
graduation fees, etc.

ii) Choose your premium payment term: You can choose the number of years for
which you wish to pay premium. You have 2 options:
a. Limited payment - In this option, you pay premiums for a period which is 5 years less
than the policy term. For example if you have chosen a policy term of 15 years, your
premium payment term will be 10 years.
b. Regular payment - The premium payment term is the same as the policy term. For
example if you have chosen policy term of 15 years, your premium payment term will
also be 15 years.
iii) Choice of premium amount: The minimum premium amount that you can pay is
`10,000 for annual installments and `1,000 for monthly installments. This is excluding
service tax and education cess. A loading factor of 0.09 is applicable for monthly
installments.

Example - Childsurance for education planning

Mr. Ajay Mishra is a 32-year old, healthy male with a 2-year old daughter. Mr. Mishra
chooses to invest in Childsurance to secure the funds for his daughters future
educational needs. He buys a plan with a maturity sum assured of `5, 00,000. He pays his
premium annually. The date of commencement of risk is 3rd July 2012. Mr. Mishra
chooses a policy term of 20 years and a premiums are exclusive of service tax and
education.
Age of insured person

maturity sum assured

annual premiums

policy term

32

5,00,000

32,405

20

premium p
term
15

The benefits Mr. Mishra would receive under the policy provided he survives to maturity
are as follows:
Date of
guaranteed
annual
payout

Daughter
s
age
(years)

Guarantee
d annual
payouts(A
)

Total bonuses
Total benefits
(not guaranteed)
(A)+ (B)
(B)
@4%p.a @8%p.a @4%p. @8%
a
p.a
1,00,000 1,00,000

on 2 Jul
2028

18

1,00,000

On 2 Jul
2029

19

1,00,000

1,00,000

1,00,000

On 2 Jul
2030

20

1,00,000

1,00,000

1,00,000

On 2 Jul
2031

21

1,00,000

1,00,000

1,00,000

On 2 Jul
2032
Cumulative
payouts
received for
the entire
term of the
policy

22

1,00,000

1,00,000

4,20,000

2,00,000

5,20,000

5,00,000

1,00,000

4,20,000

6,00,000

9,20,000

Tax Benefits
You also get tax benefits for investing in Childsurance Savings. The premiums that you
invest are eligible for deduction under Sec 80C of the Income Tax Act, 1961, up to the
limit of`1,00,000 (this limit includes other eligible investments). The maturity benefit as
well as death benefit that you receive is tax-free under Sec 10(10D) of the Income Tax
Act, 1961

Other Benefits
Advantage women
Childsurance Savings offers an additional premium discount for female insured persons.
The basic premium payable for a woman will be equivalent to the premium for a
corresponding 3 year younger man.
For example, if you are a healthy woman and your age is 30 years, your premium
payable will be equivalent to the premium of a 27 year old healthy man
Create exclusive funds for loved ones
A useful feature under Childsurance Savings is that you will be able to create exclusive
funds for the benefit of your loved ones which no one else will be able to access. These
funds are legally protected from creditors and claimants on estate such as legal heirs,
parties to disputes and creditors. Under Section 6 of the Married Womens Property Act,
1874 a married man can take an insurance policy on his own life and express it to be for
the benefit of his wife or children. When such intent is expressed on the face of the
policy, it shall be deemed to be a trust for the benefit of the named beneficiaries (your
wife or children) and it shall not be subject to the control of the husband, or his creditors
or form part of his estate. The Act also provides that nothing contained in the provision
shall operate to destroy or impede the right of any creditor to be paid out of the proceeds
of any policy of assurance which may have been effected with intent to defraud creditors.
You can ask for an endorsement of your Childsurance policy for the benefit of your
children under the Married Womens Property Act. You can also indicate the percentage
share for each of your children in the policy. Once endorsed, the policy will be
exclusively for the benefit of the named beneficiaries.

 How to buy Childsurance Savings?

Age at entry Insured
Person (Parent)
Age at entry Nominee
(Child )
Maturity age
(Insured
Person)

Minimum:

18 years

Maximum: Regular payment option: 40 years

Limited payment option: 50 years
Greater than one month and less than 18
years of age
Minimum:

28years

Regular payment option: 65 Years

Maximum: Limited payment option: 75 years
Policy term
Minimum:

10 years

Maximum: 25 years
Premium payment
term

Regular payment option:

Limited payment option: 5 years less than the
policy term
Equal to policy term
Yearly, and monthly by ECS, standing
instructions or direct debit only

Premium payment
Frequency
Premium
(exclusive of
service tax
and education
cess)
Maturity sum
assured

Minimum:

Yearly: 10,000, Monthly: `1,000

Loading factor of 0.09 is applicable for
monthly premium payment frequency

Maximum

No limit (subject to underwriting)

Minimum:

Subject to above minimum premium

Maximum: No limit, subject to underwriting

WEALTHSURANCE
IDBI Federal Wealth Suvidha Growth Insurance Plan

A systematic allocator to help you build wealth with ease.

Option to choose how long you want to stay invested.
Guaranteed loyalty additions to boost up your wealth
Final protection against uncertainty.
Partial withdrawal for emergency fund requirement.

Plan Overview
IDBI Federal Wealthsurance Suvidha Growth Insurance Plan (UIN: 135L033V01)
is a simple unit linked plan that helps you take your first step towards wealth creation and
that too, with ease. Whats more, the life cover with this plan provides financial
protection to your loved ones.
Eligibility
Criteria

Minimum/
Maximum

Age at entry

Minimum

1 month (subject to minimum maturity age)

Maximum

65 years (subject to maximum maturity age)

Minimum

18 years

Maximum

75 years

Policy term

Fixed options

10 years, 15 years and 20 years

Premium
payment term

Fixed options

10 years and in multiples of 5 thereafter

Premium

Minimum

Rs. 15,000 p.a.

Maximum

Rs. 25,000 p.a.

Maturity age

Premium
Fixed
payment mode

Annual

Sum assured

10 times the annual premium

Fixed

All ages are as per last birthday

 Why wealthsurance suvidha?

Systematic allocator to help you build wealth with ease

You have two options of managing funds in Wealthsurance Suvidha. You can either manage the funds yours
opt for Systematic Allocator. If you opt for Systematic Allocator, you will enjoy a balance between growt
safety. In the early policy years, your investment will have a higher exposure to equity. This will help
investments have the potential to earn you higher returns. As the policy approaches maturity, your inves
will be automatically rebalanced to reduce the exposure to equity. This ensures that your investment is prot
from the ups and downs of the equity markets. For more details on Systematic Allocator, please refer t
product brochure.
Option to choose how long you want to stay invested

With Wealthsurance Suvidha, you can choose the policy term (PT) which is the duration for which you w
stay invested. In addition, you can also choose how long you want to pay your premiums by choosin
premium payment term (PPT) most suited to your needs. Please refer to the product brochure for combinatio
PT and PPT available.
Guaranteed loyalty additions to boost your wealth*

At the end of the 10th policy year and every 5 years thereafter, you get guaranteed loyalty additions to boost
wealth.
Financial protection against uncertainty

In case of an unfortunate death during the policy term, your nominee gets the death benefit which is the
assured or the fund value at that time, whichever is higher. At any time during the policy term, the death b
will be more than 105% of all premiums paid.
Partial withdrawals for emergency fund requirements

In case of a financial emergency, you can make partial withdrawals from your funds any time after the 5th p
year. For more information on partial withdrawals, please refer to the product brochure.

Two tax benefits

The premiums you pay under Wealthsurance Suvidha are eligible for tax benefit under Sec 80C of the In

Tax Act, 1961. The maturity benefit and death benefit are also tax free under Sec 10(10D).
Flexibility to switch funds and investment options

You can switch your investment option between Systematic Allocator and managing your funds by you
Also, if you are managing your funds yourself, you can also switch from one fund to the other.
Option to surrender

Wealthsurance Suvidha also provides the feature of surrendering the policy free of charge after the 5th p
year. A surrender amount equal to the fund value as on date will be paid out. Discontinuance charge w
applicable for policies surrendered within the first 5 years of the term.
Exclusive funds for loved ones

By endorsing your Wealthsurance Suvidha policy under the Married Womens Property Act, 1874, you can c
an exclusive fund for your loved ones which is legally protected from creditors and claimants.

Benefits of the Plan

Maturity Benefit
At maturity of the plan you will receive the fund value as on that date.

Death Benefit
In case the insured person dies before the maturity date while the
policy is still in force, the company will pay higher of sum assured or
fund value. In addition, at no time the death benefit would be less
than 105% of the total premiums paid till the date of death.
Guaranteed
Loyalty Additions
The IDBI Federal Wealthsurance Suvidha Growth Insurance Plan
gives an added impetus to your Investment Account through
guaranteed loyalty additions. Your investment account will be
th credited with guaranteed loyalty additions at the end of 10 policy
year and every 5 years thereafter. Guaranteed loyalty additions will
be 3% of the average fund value in the last 36 months preceding

the guaranteed loyalty addition date. If you have invested in

multiple funds, we will add the guaranteed loyalty additions to
each fund in the same proportion as the fund value in each fund.

Investment Fund options

You can choose to invest your money in the following funds:
Equity Growth Fund (SFIN: ULIF04111/01/08EQOPP135
Investment objective
&strategy
Invests in listed stocks and
aims to generate high returns
by picking
stocks that have growth
prospects. It aims to diversify
risk by investing
in large cap as well as mid cap
stocks across multiple sectors.
The fund
will usually have a high
proportion of investments in
equities and
equity-linked instruments
other than in market
conditions that
warrant diversification into
money market

Asset Category

Cash and money

market

Equities and equitylinked instruments

Returns and Risk

The returns from the Equity Growth fund are likely to be high
but the risk is also high.

Allocation

0 50%

50 100%

Income Fund (SFIN: ULIF04211/01/08INCOME135

Investment Objective and
Strategy
Aims to generate returns by
investing in fixed income
and money market
investments that carry low
or medium market risk. The
duration of the underlying
portfolio will be medium.
The fund may use
derivatives to meet its
objective to the extent
permitted by the applicable
guidelines

Asset Category
Fixed income
investments

Allocation
25 - 100%

0 75%
Cash and money
market

The returns from the Income fund are likely to be related to

short-term interest rates and the risk is also low

How to change your investment options

Your investment preferences may change over time. You can change the mix of your
investment options in the following two ways:
Switching
At any time you may instruct the company in writing to switch
some or all of the units from one unit linked fund to another. The
company will give effect to this switch by cancelling units in the
old fund and allocating units in the new fund.
Note: Switches advised prior to 3:00 pm will be processed at unit price of
the date of receipt of instructions, while switches advised after 3:00 pm
will be processed at the unit price of the day following the date of receipt of
instruction. Currently there is no switching charge. The switching charge
may be introduced up to a maximum of `500 per request with the prior
approval of IRDA.
Premium Redirection

At any time you may instruct the company in writing to redirect

all your future premiums in an alternative proportion to the
various unit funds available. Redirection will not affect the
premiums paid prior to the request.
Note: Minimum amount of premium redirection in any investment fund
should be at least 15% of the annual premium. This is not applicable if you
have opted for the Systematic Allocator.

Applicable NAV
New business premiums will be allocated units at the NAV as on
the date of commencement of the policy after completion of
the proposal.
Switches in investment fund(s) and renewal premiums received
before the cut-off time at our designated office through local
cheque or demand draft payable at par at the place the premium
is received will be allocated units at the same days NAV. If
received after the cut-off time, the units will be allocated at the
next business days NAV.
Renewal premiums paid through outstation cheques or
outstation demand drafts will be allocated units as per the NAV on
the business day of realisation of the cheques or demand drafts.
In case you pay your renewal premiums in advance, the units will
be allocated as per the NAV prevailing on premium due date.
In case of cancellation of units for charges and valid notification
and instructions received at our designated office for switches out,
partial withdrawals, surrenders and death claims, we will apply the
same days NAV if the request is received before the cut-off time.
Else, the request will be processed at the next business days NAV.
The cut-off time will be as per the IRDA guidelines, which, at
present is 3.00 pm.

Allocation of units
The company applies premiums less premium allocation
charges to allocate units in one or more of the unit linked funds
in the proportion that the policy owner specifies

Cancellation of units

To meet charges and to pay benefits, the company will cancel

proportionate units equal in value to the amount of the payments
which are due. If the units are held in more than one unit linked
fund, then the company will cancel proportionate units in each
fund to meet the amount of the payment due. For partial
withdrawals, the company will cancel units in the unit linked
funds as instructed by the policy owner. To meet charges, units
will be cancelled from the various funds in the manner described
in the general terms and conditions.

Liquidity Benefits: Partial withdrawals

You can make partial withdrawals at any time during the policy
term subject to the total amount being withdrawn in any policy
year is not more than 20% of the fund value as at the beginning
of that policy year. We will not allow partial withdrawals which
would result in termination of the contract. The minimum
amount of any partial withdrawal is `10,000. The fund value
after the partial withdrawal should not be less than one annual
regular premium.
In a policy where life insured is minor, partial withdrawals will be
allowed only after the insured person attains the age of 18. Units
to the value of each withdrawal are cancelled from the unit linked
funds according to the proportions that the policy owner
specifies. Currently, there is no partial withdrawal charge. The
partial withdrawal charge may be introduced up to a maximum
of `500 per request with the prior approval of IRDA.
Partial withdrawal will not reduce the minimum death benefit of
105% of the total premiums paid till the date of death
Reduction in death benefits following a partial withdraw
In the event of the death of the insured person before age 60, we
will deduct the total of any partial withdrawals made in the two years preceding the date
of death from the sum assured. On the 60 birthday of the insured person, we will reduce
the sum
assured by the total amount of all withdrawals made between
the insured persons 58 and 60 birthdays. We will further
reduce the sum assured by the amount of any withdrawals made,
after attaining the age of 60.
However the minimum death benefit paid will always be 105% of

all premiums paid till date of death

Surrender
Your policy will have a lock-in period of five years from the date of inception. If the
policy is surrendered within the lock in period, a discontinuance charge will be applicable
as given in the section on Discontinuance of Basic Premiums. We will credit the fund
value less the discontinuance charge, to the discontinued policy fund and the insurance
benefit will cease. At the end of the lock-in or revival period (whichever is later), we will
terminate your policy and refund the proceeds of the discontinued policy. After
completion of the five year lock in period you may surrender your policy at any time and
there is no surrender charge and we will pay you the entire fund value as on the date of
surrender.

ELIGIBILITY CONDITIONS
Eligibility
Criteria

Minimum
/
Maximum

Age at entry

Minimum:

1 month (subject to minimum maturity age)

Maximum:

65 years (subject to maximum maturity age)

Minimum:

18 years

Maximum:

25 years

Fixed
options

10 years, 15 years and 20 years

Maturity age

Policy term

Premium
payment term

Fixed
options

10 years and in multiples of 5 thereafter

Minimum:

RS`15,000 p.a.

Maximum:

RS. 25000 p.a

Premium
payment mode

Fixed

Annual

Sum assured

Fixed

Basic sum assured: 10 times the annual

premium

Premium

GUARANTEED MONEY BACK PLAN

Life is full of uncertainties, and as a result we always try and predict what lies in store in
the future, so we can be prepared. However, our minds are always full of doubts as there is
no way to guarantee the future. Incomesurance Guaranteed Money Back is a plan which
will enable you to stop predicting the future, and guarantee it instead!
PLAN OVERVIEW
IDBI Federal Incomesurance Guaranteed Money Back Insurance Plan (UIN No.
135N031V01) is a non-linked non-participating money back plan which gives you
guaranteed* returns on your investment, so that you stop worrying about the future. With
Incomesurance, you can guarantee a secure future for your family even when you are not
around.

Age at entry of life

insured (last birthday)

Age at maturity of the life

insured (last birthday)

Minimum

18 years

Maximu
m

55 years

Maximu
m

65 years

Death sum assured

Premium

Fixed

10 times of Annual premium

Minimum Rs.20,000

Maximu
m

Not applicable

Premium payment period

Fixed

5 years

Policy term

Fixed

10 years

Survival benefit

Guaranteed annual payouts are paid at the end

of every year from the 6th to the 10th policy
year

WHY INCOMESURANCE??????
Guarantee as it should be
At the time of buying Incomesurance, you know exactly how much you will get as
guaranteed annual payouts.
Limited premium payment term
You pay premiums only for the first 5 years of the policy.
Guaranteed annual payouts
You will receive guaranteed annual payouts at the end of each year from the 6th to the
10th policy year. These payouts are a defined percentage of your annual premium*
depending on your age at entry.
Flexibility to choose premium amount as per your needs
You can decide the premium amount based on how much money you want as guaranteed
annual payouts from the 6th to 10th year of the policy.

 Financial protection against uncertainty

In case of the unfortunate death, your family will get 10 times the annual premium* as
death benefit regardless of any payouts received by you in the past.
Two tax benefits
You get tax benefit of Section 80(C) of the Income Tax Act, 1961 on premiums paid
towards Incomesurance. The payouts you receive are also tax free under Section 10(10D)
of the Income Tax Act, 1961. Please consult your tax advisor for more details.
Loan facility
Loan amount granted will be limited to 85% of Guaranteed Surrender Value available
under the policy subject to a minimum loan amount of Rs 5000.
In case of financial emergency
You have the option to surrender the policy in case of a financial emergency after you
pay 2 annual premiums from the date of commencement of your policy.

Exclusive funds for your loved ones

You can create an exclusive fund for your loved ones by endorsing your policy under the
Married Women Property Act, 1874. These funds are legally protected from creditors and
claimants.

HOW DOES IT WORK????/

Incomesurance is a simple plan with guaranteed benefits. On payment of premiums for

5th years you will receive guaranteed annual payouts at the end of every year for the next
5th years. At the time of purchasing the policy, you will know exactly how much you will
receive as guaranteed annual payouts. The guaranteed annual payouts that you receive
will depend on two factors - the amount of annual premium that you pay and your age.
For instance, if you are 40 years of age, the guaranteed annual payout from the end of the
6th year to the end of the 10th year will be guaranteed at 135% of the annual premium
paid. This means that if you pay a premium of 1, 00,000 per annum for 5th years, you
would receive a guaranteed annual payout of `1, 35,000 from the end of the 6th to the end
of the 10th year. The guaranteed annual payouts are subject to you paying all due
premiums in full. Throughout the term of 10 years, your family will be financially

protected against uncertainties through the life cover of 10, 00,000 that you get with
Incomesurance.

BROCHURE

Stop predicting. Guarantee your future.

A money back insurance plan
to provide guaranteed* annual income.
Life is uncertain. In this uncertainty, we always look for things that give us some
guarantee of what lies ahead in our lives. When it comes to our investments, the
assurance of guarantee becomes even more important. Many of us also look for regular
payouts that help us manage our expenses and forthcoming financial commitments.
Unfortunately, there are very few investment options that can provide us the combination
of guarantee and regular payouts.

Presenting
IDBI Federal Incomesurance Guaranteed Money Back Insurance Plan
At IDBI Federal, we understand this need and bring to you IDBI Federal Incomesurance
Guaranteed
Money Back Insurance Plan (referred to as Incomesurance hence). This plan gives you a
real guarantee what you see is what you get!
Whats more, this plan comes with the benefit of life cover throughout the term of the
policy!
What are the benefits of Incomesurance?

Pay premiums only for first 5 years of the policy

Incomesurance has a limited premium paying term of 5 years. This is ideal for you if you
are looking to pay for a short duration only.

Get guaranteed annual payouts from the 6th to 10th year of the policy
You will receive guaranteed annual payouts at the end of each year from the 6th to the 10th
year of the policy. For these 5th years you will receive guaranteed annual payouts which
are a defined percentage of your annual premium (excluding service tax and extra
mortality charges). This percentage depends on your age as shown in the table below

Guaranteed annual payouts are a defined percentage of your annual premium,

based on your age at entry. The table given below shows the rates corresponding to
age:

AGE
18-30
31-36
37-39
40
41
42
43
44

PAYOUT
138%
137%
136%
135%
135%
134%
134%
133%

AGE
47
48
49
50
51
52
53
54

PAYOUT
131%
131%
130%
130%
130%
129%
128%
127%

45

133%

55

126%

46

132%

This amount is an additional income for your family which can be used to fulfil goals
like family holidays, childs university fees, buying a car or durables for the house, etc.

Flexibility to choose premium amount as per your needs

You can decide upon your annual premium amount based on the following:

The amount of money you want to receive as pay back from 6th year onwards based on
your financial goals.

The life cover you require to protect your family.

Protect family with life cover for 10 years of policy term

In case of the unfortunate event of death of the life insured during the policy term, your
nominee will get the death sum assured, which is the highest of:

10 times of annualised premium (excluding service tax, education cess and extra
mortality charges).

105% of all premiums paid

Maturity sum assured

Maturity sum assured is the sum of all the guaranteed annual payouts. This will provide
your family with financial security for their future. The death sum assured will be
payable at all times during the policy term even if there have been payouts made to you.
However, the death sum assured is payable provided all due premiums are paid and the
policy is in force.
Get 2 tax benefits of 80C and 10(10D).

Deduction under 80C: The premiums that you invest in Incomesurance are eligible for
deduction under section 80C of the Income Tax Act up to the limit of `1, 00,000 (this
limit includes other eligible investments).

Tax free benefits under section 10(10D): The survival benefit (guaranteed annual
payouts) as well as death benefit that you receive in Incomesurance are tax free under
section 10(10D) of the Income Tax Act, 1961.
There is also no tax deduction at source.

 ELIGIBILTY
Age at entry of life
insured
(last birthday)

Age at maturity of
the life insured
(last birthday)

Minimum

18 years

Maximum

55 years

Maximum

65 years
Highest of:
10 times annual premium or
105% of all premiums paid or
Maturity sum assured

Death sum assured

Fixed

Premium

Minimum

Rs. 20,000

Maximum

Not applicable

Premium payment
period

Fixed

5years

Policy term

Fixed

10 years

Survival benefit

Guaranteed annual payouts are paid every year

from the 6th to 10th policy year and are expressed
as a percent of annual premium (exclusive of
service tax, education cess and mortality loading )
depending on the age at entry

OBJECTIVE OF THE STUDY

How to deal with customers and provide them best benefits which can secure their life as
well as can provide security.

By providing various options to people in insurance sector matching their need.

To get detail knowledge about insurance sector with reference to IDBI FEDERAL

To analyze the growth of life insurance corporation of India during the post
liberalizations era. This paper analyses components like growth in premium, new polices

To become a good dealer in insurance sector as well as to know the customer views
towards insurance companies.

To examine the internal and external factors affecting the insurance sector.

RESEARCH METHODOLOGY

Business research is a systematic enquiry that provides information to guide business

decision and aimed to solve managerial problems. Business research is of recent origin
and it is largely supported by business organizations that hopes to achieve competitive
advantages Research Methodology is a way to systematically solve the problems. It may
be understood as a science of studying how research is done scientifically. It include the
overall research design, the sampling procedure, data collection method and analysis
procedure.
DESCRIPTIVE RESEARCH
Descriptive research study includes surveys and fact-finding enquires of different kinds,
which help the researchers to describe the present situation that makes the analysis
about15
the effectiveness of employee satisfaction among the employees and helps to reach the
objective.
Sources Data Collection Methods:
Primary Data:
Primary data was collected through survey method through selling plans and providing
facts to the people to branch manager and other sales manager. The primary data taken
from survey through the staff and others.

Secondary Data:
Data was collected from books, magazines, web sites, going through the records of the
organisation, etc. It is the data which has been collected by individual or someone else
for the purpose of other than those of our particular research study.
SAMPLE UNIT/SAMPLE SIZE:
The item selected from the population constitutes the sample size. The study covers the
customers of IDBI federal life insurance company. Total sample size for the study is 40.

SAMPLE SIZE:
The sample size was: 40 respondents.
I have targeted 40 customer in the age group above 21 years for the purpose of the
research. The target population influences the sample size. The target population
represents the Dehradun City regions. The people were from different professional and
non professional as well backgrounds. The details of our sample are explained in chapter
named primary research where the divisions are explained in demographics section.
RESEARCH DESIGN
Sampling design is to clearly define set of objective, technically called the universe to be
studied. This research has infinite set of universe and the sampling design used in the
study is non-probability sampling convenience sampling.
TOOLS
Interaction with people
Observation made during the survey.
Process involved during the survey/ dealing.

ANALYSIS & INTERPRETATION

METHOD OF DATA EVALUATION

After the data analysis, it must be evaluate to get the decision. Here the decision rule will
be applied that is univariate measure calculated to the decision. The likers scale is given
1-3 to each statement in the questionnaires.
Based on the value indicated in the questionnaire, the average value for each factor is
considered. The mean value lies between 1-3 which follows.
1) Agree
2) Neutral
3) Disagree
1

Further three types of degree of consideration that can be derived regarding

differentiation variables are show in the following table.

Range

Decision Attribute

1<X=2.5

Low Level Relinquishment

2.5<X=3.5

Moderate Level Relinquishment

3.5<X<=5.0

High Level Relinquishment

PERSONAL INFORMATION
The research is to identify the customer retention in IDBI federal insurance Co limited in
Coimbatore branch. Retaining the customer is based on the customer satisfaction. Age,
sex, civil status, education level, occupation, income also decide the satisfaction.

AGE DISTRIBUTION
Age distribution pattern of the customer in Coimbatore branch its represented by the
sample 100. Age distribution class was categories in to three classes.63% of customer
represented the age categories of 18-35 years. 5% of customer represented the age

categories of 36-50 years. 32% of customer represented the age categories of over 50
years.

Age Distribution

Frequency

Percentage

18-35 Years

63

63%

36-50years

5%

Over 50 Years

32

32%

Total

100

100%

RECOMMENDATIONS AND SUGGESTIONS

Based on the data collected through the questions and interactions with the Staff
and Workers of IDBI the following recommendations are made for consideration:

1. Complaint and Suggestion System: Employee can freely deliver complaints and
suggestions through facilities like suggestion box, personal meetings with seniors etc.
2. Lost Employee Analysis: The exit interviews are conducted or employee loss rate

is

computed.
3:

Periodic surveys by use of questionnaire or telephone calls to random sample of

recent buyer help to find out customer satisfaction and relate to repurchase intention and
word of mouth score.
4.

Show a correct picture of the organization.

5.

Provide full information.

LIMITATIONS

This study was conducted with less sample size due to time constraint and the survey was
conducted only in dehradun, so the research findings may not be generalized.

Some of the customers are reluctant to give full information, this leads to bias & may not
reflect the true picture.
The observations are only based on current scenario, as it could change in future.
People are not ready to interact easily
They are not ready to listen the plans and discuss their needs.
People are not ready to share their views with us.

CONCLUSION

The data were collected from the customers response of the IDBI Federal Life Insurance
Corporation Limited Coimbatore branch. Based on the percentage of the customers 100

sample size was collected. The age, gender, marital statuses, educational qualification,
occupation, monthly income, were analyzed as personal information in the questionnaire.
According to the collected personal information, most of the sample customers were
young age, single, educated, higher income customers who got insurance. According to
the research the IDBI Federal Life Insurance Corporation Limited Coimbatore have high
customer relinquishment because most of the customers did not insure out of their own
interest. Parents, Friends who are working or doing their project or internship in IDBI
Federal Life Insurance wanted them to have a policy. This is the reason why customers
move out of IDBI Federal.

BIBLOGRAPHY
Books
1. Research Method for Business Students-Pearson Education-Mark Saunders,
Philip Lewis, and Adrian Thorn hill.
2. Kothari C.R. (1990) Research Methodology: Method and Techniques,
WishvaParkashan, New Delhi. PP115-117

3. Bodie. Z, Kane. A & Marcus. J: Essentials of Investments PP242-243

Websites
1. http://www.economywatch.com/indianeconomy/indian-insurance-sector.html
2. http://www.indianmba.com/Occasional_Papers/OP85/op85.html
3. http://www.banknetindia.com/finance/insure2011.htm