A

RESEARCH REPORT
ON
“COMPARATIVE ANALYSIS OF IDBI FEDERAL LIFE AND HDFC LIFE”
Submitted in partial fulfillment for the award of the degree
MASTER OF BUSINESS ADMINISTRATION

SESSION: 2017-2019

SUBMITTED TO RESEARCH GUIDE

Ms. POOJA Ms. POOJA
ASSISTANT PROFESSOR ASSISTANT PROFESSOR
DEPT. OF MANAGEMENT DEPT. OF MANAGEMENT

SUBMITTED BY
ANJALI KUMARI
M.B.A. 4th Semester
ROLL NO.: 17MBA01002

CAMBRIDGE INSTITUTE OF TECHNOLOGY RANCHI

Affiliated to Ranchi University Ranchi Jharkhand 835103

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 DECLARATION

I hereby declare that the research report entitled on “COMPARATIVE ANALYSIS OF IDBI
FEDERAL LIFE AND HDFC LIFE”. This is a genuine project work undertaken by me under
guidance of Ms. Pooja (Assistant Professor Of MBA, CAMBRIDGE INSTITUTE OF
TECHNOLOGY, RANCHI).
The information has been collected from the genuine authentic sources.

The report is being submitted in partial fulfillment of the requirement of

MASTER IN BUSINESS ADMINISTRATION.

ANJALI KUMARI

ROLL N0. 17MBA01002

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 ACKNOWLEDGEMENT

I would like to take this opportunity to express my profound gratitude and deep regard to my
mentor Ms. Pooja, for her exemplary guidance, valuable feedback and constant encouragement
throughout the duration of project.
Her valuable suggestions were of immense help throughout my report work.

Her perceptive criticism kept me working to make this report in a much better way. Working
under her was an extremely knowledgeable experience for me.

I am heartly thankful to Mrs. Shalini Singh (HOD of Management Department) for leading me
expertly in the direction throughout my endeavor with his experience and knowledge.

ANJALI KUMARI

17MBA01002

(2nd YEAR MBA)

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 PREFACE

As a part of the partial fulfillment of the MBA program at Cambridge Institute of Technology,
Ranchi, research report is done with the COMPARATIVE ANALYSIS OF IDBI FEDERAL LIFE
AND HDFC LIFE in the broadest sense report.

Report is necessary to make the students of business school familiar with the industrial
environment prevailing the world.

To be competitive and work aggressive students need to know the policies.

Procedures and the trends going on the present industrial world.

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 CERTIFICATE

This is to certify that the report of the submitted is an outcome of the project work entitled “A
COMPARATIVE ANALYSIS OF IDBI FEDERAL LIFE AND HDFC LIFE” carried out by
Anjali Kumari.

Carried out under my guidance and supervision for the award of Degree of MBA in
CAMBRIDGE INSTITUTE OF TECHNOLOGY embodies the work of the candidate
himself/herself.

I. Has duly completed.

II. Fulfils the requirement of the ordinance relating to the MBA degree of the university, and
III. Is up to the desired standard for the purpose of which is submitted

INTERNAL SIGNATURE EXTERNAL SIGNATURE

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 EXECUTIVE SUMMARY

Influencing the ways that people act in their daily consumption lives is a concern for
researchers in a number of disciplinary areas, including consumer behavior psychology,
sociology and marketing.

This project is focused on analyzing the internal and the external factors which aims at
determining the customers buying behavior towards insurance products of IDFI Federal
and HDFC Life. It is mainly focused in trying to understand the various factors
responsible for the buying decision. Understanding these factors is a critical task. The
purchase decision in general is prompt by number of factors viz. Psycho graphical,
Economical, Socio political, Legal and Demographical. There are certain other factors
which need to be understood while keeping in mind the investment decision made by
customers, such as, customer buying behavior, Customer Preferences and Perception,
Brand Loyalty etc.

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 TABLE OF CONTENTS

Executive Summary

Chapter 1 : Introduction……………………………………………………9-10

1.1 Introduction of the stream……………………………………………………9

1.2 Objective Of the study………………………………………………………10
1.3 Limitations Of The study…………………………………………………..10
1.4 Scope Of the study…………………………………………………………..10

Chapter 2 : Industry Profile………………………………………………11-19

2.1 Indian Insurace Industry at present………………………………………11

2.2 Introduction to insurance industry……………………………………….11-12

2.3 Insurance sector in India…………………………………………………..13-19

Chapter 3 : Company Profile IDBI Federal……………………………..20-46

3.1 IDBI Federal Life………………………………………………………20-23

3.2 IDBI – Vision Mission and Values……………………………………….24

3.3 Milestones………………………………………………………………25-27

3.4 Organization Structure…………………………………………..................28

3.5 Products Of IDBI Federal ……………………………………………..29-44

3.6 SWOT Analysis…………………………………………………............45-46

Chapter 4 : Company Profile HDFC Life………………………………...47-55

4.1 Introduction OF HDFC Life……………………………………………48-51

4.2 HDFC – Vision and Values……………………………………………..42

4.3 SWOT Analysis…………………………………………………………53-55

Chapter 5 : Research Methodology….……………………………………..56

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Chapter 6: Data Analysis and Interpretation ……………………………57-70

Chapter 7: Findings and

Suggestions…………………………………………………………………71-72

Conclusion……………………………………………………………………73

Bibliography………………………………………………………………….74

Appendices…………………………………………………………………75-77

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 1. INTRODUCTION OF THE STREAM

Finance is the life blood of business. Before discussing the nature and scope of financial
management, the meaning of ‘finance’ has to be explained. In fact, the term, finance has to be
understood clearly as it has different meaning and interpretation in various contexts. The time
and extent of the availability of finance in any organization indicates the health of a concern.
Every organization, may it be a company, firm, college, school, bank or university requires
finance for running day to day affairs. As every organization previews stiff competition, it
requires finance not only for survival but also for strengthening themselves. Finance is said to be
the circulatory system of the economy body, making possible the required cooperation between
the innumerable units of activity.

According to Paul G. Hazing, "finance" is the management of the monetary affairs of a company.
It includes determining what has to be paid for and when, raising the money on the best terms
available, and devoting the available funds to the best uses.
The term ‘finance’ refers to the financial system in a rudimentary or traditional economy, that is,
an economy in which the per capita output is low and declining over a period of time. The
financial organization in rudimentary finance is characterized by the absence of any financial
instruments of the saving deficit units of their own which they can issue and attract savings.
There will not be any inducement for higher savings by offering different kinds of financial
assets to suit the varied interests and preferences of the investing public. The other characteristic
of such a financial system is that there are no markets where firms can compete for private
savings.

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 1.2OBJECTIVE OF THE STUDY

 Compare between products on financial grounds.

● To know the investment parameters of both the companies.

● To check level of risk in IDBI Federal Life Insurance and HDFC Standard Life
Insurance.

● To know the financial planning parameters set by both the companies.

● To make forecast about future prospectus of a company.

● To help in decision making and control.

1.3 LIMITATION OF THE STUDY

● Costly in amounts.

● Lack of trust and different perceptions.

● Tricky terms and condition.

● Lengthy legal formalities.

● Claim settlement problems.

● Tenure of insurance.

1.4SCOPE OF THE STUDY

 The IDBI Federal Life Insurance Company basically offers financial protection to
dependent of the family in unexpected scenario.

● Area of application is limited.

● This is the sector of study the consumer behavior, income, need, safety and securities.

● Financial decision making.

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 2. INDIAN INSURANCE INDUSTRY AT PRESENT

Life Insurance Corporation (LIC) had the monopoly over the market till the late 90’s when the
insurance sector in India was opened for private players. Before that there were only two state
insurer, one was LIC (Life Insurance Corporation of India) and GIC (General Insurance
corporation of India).

Indian insurance sector at present has undergone many structural changes in 2000. The
Government of India has liberalized the insurance sector in 2000 with IRDA (Insurance
Regulatory and development authority) lifting all entry restriction of foreign players with a
specific limit on direct foreign ownership. Under the current guideline 26% of equity cap is there
for foreign players in an insurance company and proposal is being given to increase this limit to
49%.Post liberalization insurance industry in India have come a long way and today it stands as
one of the most competitive, challenging and exploring industry in India. Increased use of new
distribution channels are in limelight today due to entry of private players. In the long run the use
of these distribution channels and modern IT tools has increased scope of the insurance industry.
Also the changing economics patterns, changing political scenario, modern IT tools will
eventually help in reshaping future of Indian financial market and Life Insurance business in the
country.

2.2 INTRODUCTION TO INSURANCE INDUSTRY:

Insurance is a form of risk management that shields insured from the risk of any uncertain of
unfortunate events. In simple terms insurance can be defined as transfer of risk from one entity to
another in exchange of the payment. The transaction consists of insured assuming a guaranteed
small loss in the form of payment to the insurer in exchange of the promise to compensate
insured in case of any kind of financial loss to insured. In a layman’s term, insurance is a guard
against monetary loss arising on the happening of an unforeseen event. In developing countries
like India insurance sector still holds lot of potential which need to be tapped.

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 TYPES OF INSURANCE:
Insurance can be classified into three categories:

1. Life Insurance:
Life Insurance is a concord between the insurer and the policyholder, where insurer
promises to pay beneficiary designated sum of money upon death of the insured person.
Life Insurance covers number of contingencies like Death, Disability, and Disease.

2. General Insurance:
General Insurance is a non-life insurance policy including automobile and homeowner
policy. General insurance specifically consist of non- life insurance. It includes property
insurance, liability insurance and other forms of insurance. Fire and Marine insurance are
called property insurance.

3. Social Insurance:
Social insurance is another type of insurance for weaker section of the society. It provides
protection to weaker section of the society who are unable to pay premium. Industrial
Insurance, sickness insurance, pension plan, disability benefits, unemployment benefits
are some the type of social insurance.

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2.3 INSURANCE SECTOR IN INDIA:

Indian insurance sector has gone through different phases of competition, from being an open
competitive market to a nationalized market and then again getting back to liberalized market.
Indian insurance sector has witnessed complete dynamism in past few centuries.

Insurance sector in India has a deep- rooted history. Its mention has been found in writings of
Manu (Manuscript), Yagnavalkya (dharmashastra) and Kautilya (Arthshastra). Ancient Indian
history has preserved traces of insurance in the form of marine trade loans and carrier contracts.

Insurance industry in India is governed by Insurance Act of 1938, Life Insurance Corporation
Act of 1956 and General Insurance business Act, 1972, Insurance Regulatory and Development
Authority (IRDA) Act of 1999 and other related acts. Insurance industry in India is considered as
an industry with big potential market. One of the reason that India is seen as huge potential
market is because of its huge population and untapped market area of this population. In terms of
population India has an immense potential expanding their life insurance cover. Majority of
people in India are unaware of the functions and benefits of Insurance because of which
insurance sector has a bright future in India. But it is relevant to consider factors like different
varieties of social structure, urban and rural composition other than very important factors like
age, sex, income level, literacy level. Making assessment of Life Insurance potential of India is
very difficult task due to wide variance in every aspect of Indian circumstances and without a
refined analysis any estimate would be meaningless.

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REGULATORY ISSUES:

Insurance Regulatory and Development Authority (IRDA) is a national agency of government

of India. It was formed by an act of Indian Parliament known as IRDA Act 1999 which was
amended in 2002 to incorporate some upcoming requirement. It is responsible for protecting the
interest of policy holders, to regulate and promote orderly growth of Insurance Industry in India.
To achieve this objective IRDA has taken following steps:

1. IRDA has notified protection of policyholders Interest Regulation 2001 to provide for:
policy proposal document is in easily understandable language; claims procedure in both
life and non-life; setting up grievance redress machinery; speedy settlement of claims and
policy holders servicing. The regulation also provides for payment of interest by insurer
for delay in settlement of claims.
2. Solvency margins are to be maintained by the insurer so that they can be in a position to
meet their obligation towards the policyholder with respect to payment of claims.
3. The Insurance Company has to clearly disclose the benefits, terms and condition under
the policy.
4. The advertisement issued by the insurer should not mislead the insuring public.

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 5. Proper grievance redress machinery should be set up in the head office and all the other
offices by the insurer.
6. If any complaints are received by the policyholder with respect to the services provided
by the insurer under the insurance contact, then the authority takes up with the insurer.
7. Insurer has to maintain separate account related to the fund of Policyholder. The funds of
the policyholder should be retained within the country.
8. According to the new regime, Insurance companies will have to exposure to rural and
social sector.

CRITICAL SUCCESS FACTORS:

Post Liberalization Insurance industry in India has become very competitive. With private
players entering into the India market making the market lot more competitive. Insurance
industry in India has become highly competitive with different companies and individual agents
competing against each other to gain higher market share. In order to gain higher market share
companies have to differentiate themselves from others. Companies can differentiate themselves
in the market by using a number of critical success factors:

1. Product Quality:
One the most important factor that differentiates companies is by the quality of product it
offers. Quality of product instills a confidence in the customer that the product offered by
the company is better. Better the quality of product, more successful is the company.

2. Developing relationships with the customer:

Insurance Industry is a highly competitive industry. In order to gain the market share first
priority is to be given to the customer. Range of product and services should be designed
to give the customer what he desires.

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 3. Market Segmentation:
Greater market segmentation should be done in which target audience should be divided
into homogenous groups and products and services should be targeted towards such
market. This would tie company to their client by customized combination of coverage,
easy payment plan, risk management advice and quick claim handling.

4. Designing new strategies:

Insurance Industry cannot be satisfied with consolidation of their existing market, but
have to achieve future growth and penetration. Companies must focus on new
distribution channels, strengthening their existing point of services, direct contact with
their ultimate customer, refresh their marketing setup, new comers should focus on
tapping the market which is left unexploited by public sector companies.

5. Shift towards Rural market:

Rural market is India is still uncovered by this sector. Insurance penetration can be
achieved by tapping the untapped rural market of India.

6. Motivating sales force:

The company, because of which a proper motivation of sales force is very important for
the company
Sales force is one the major strength that the company has that could differentiate them
from their competitors. A good sales force can do wonders to the future of. Life
Insurance Company should constantly involve in motivating their sales force so that they
can meet their target on time.

7. Use of technology:

Technology plays a very important role in the success of the company. Internet based Life
insurance will help companies to reduce time and transaction cost and also improves
quality of services to its customer.

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DOMESTIC ECONOMIC CONDITIONS:

Domestic economic conditions play a major role in growth or downfall of an Insurance company,
No matter how financially stable an insurer is; none is immune to the slow economic growth. In
an Indian economy double digit inflation is one the uncomfortable factor and RBI which is the
central bank of India has a huge task of controlling the inflation without hampering the
economic growth. Trade off between Interest rates and Inflation has been the core the business
of the RBI and the past one year has been very difficult for the RBI. In an attempt to manage
inflation, RBI has been constantly raising repo rate and reverse-repo rates every quarter but it
has not succeeded in moderating inflation. This simply implies that inflation is more of a supply
side issue than a monetary implication. The implications of this relatively high interest rates and
high inflation regime are unlikely to be positive for insurance industry. It would be difficult for
an Insurance industry to manage return expectations as they are likely to be high. While
competing with a fixed income product higher assured returns are required for high.
Interest rates in order to increase penetration. There may be some reductions in actual growth
rates, but Indian’s long term fundamentals remain intact as life Insurance being an industry with
long time horizon, it would be able to tide over economic cycle.

Inflation on the other hand means lower disposal incomes in the hand of the consumer leading to
lower household savings which currently stands at 34.7%, though significantly lower than china
which is 50%.

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GLOBAL ECONOMIC ENVIRONMENT:

According to the Swiss Re’s newly appointed Economist, Kurl Karl low interest rates and euro
debt crisis will prove to be a problem for insurance industry. According to Kurt Karl momentum
of growth has been slowed down due to these two factors, but the only bright spot according to
him is the ongoing growth in the emerging market. However Kurl is lot more optimistic looking
forward to 2013 forecasting a pick-up in investment yield and premium in a modest
improvement in economic conditions.

1. Political Development: Political developments are the more serious threat in Europe and US.
In Europe this can lead to serious sovereign defaults and also exit from the euro monetary
union.

2. Emerging markets has been negatively impacted by faltering growth in the developed
economy. Also tighter monetary policies on the part of several emerging economies also
slowed down growth.

3. Both global in-force and new business life insurance fell in 2011, but it again recovered.
According to the economist in order to return to the pre-crisis profitability short- term factors
like low investment returns, high hedging cost and more onerous capital requirement. Life
Insurance industry’s capitalization has improved markedly and it is in the better shape to cope
up with the future challenges.

4. Because of some Regulatory changes in China and India, coming two years will see life
insurance business in emerging market returning to its long term trend of around 8%.

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DEMAND DRIVERS:
Insurance industry in India has become lot more competitive in recent years. With private players
entering into the market, competition level has significantly increased with more private players
trying to gain more market share. Some of the demand drivers that give change

to the smaller companies to compete against giants like Life Insurance Corporation of India Ltd
(LIC) which has 70% market share are:

1. Rural market:
According to the Mckinsey report, titled India Insurance 2012: Fortune Favors the Bold,
finds that the sector is still in a dissident with different players in different stage of
development and market presence. According to the McKinney’s report the rural penetration
is likely to increase from about 25% at present to around 35-40% in 2012. With 65% of the
Life insurance coming from rich urban class, smaller companies can look for rural and low
income group as potential demand driver.

2. Product Mix;
A better product mix would also drive growth of insurance companies, with companies
making a move to lower the share of single premium products.
Life insurance product can also fill the gap that is created by growing demand for investment
products and long-term savings

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 3. COMPANY PROFILE
OF
IDBI FEDERAL LIFE INSURANCE CO. LTD.

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IDBI Federal Life Insurance Co Ltd is a joint-venture of IDBI Bank, India’s premier
development and commercial bank, Federal Bank, one of India’s leading private sector banks
and Ageas, a multinational insurance giant based out of Purpose. 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. 26,591Cr.

Federal Bank Ltd is engaged in the banking business. The Bank operates in four segments:
treasury operations, wholesale banking, retail banking and other banking operations.

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.

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SPONSORS OF IDBI FEDERAL LIFE INSURANCE

IDBI Bank is an Indian government-owned financial service company, formerly known as

Industrial Development Bank of India, headquartered in Mumbai, India. It was established in
1964 by an Act of Parliament to provide credit and other financial facilities for the development
of the fledgling Indian industry. It is currently 10th largest development bank in the world in
terms of reach, with 3350 ATMs, 1853 branches, including one overseas branch at Dubai, and
1382 centers It is one of 27 commercial banks owned by the Government of India. The bank has
as aggregate sheet size of INR 3.74 trillion as on 31 March 2016.

It received the ‘Overall Best Bank’ and ‘Best Public Sector Bank’ awards in the Dun &
Bradstreet Banking Awards, 2011.

In 2011, it received Banking Technology awards for best use of business Intelligence and
the best Risk Management from Indian Banks Association.

Federal Bank Limited is a major Indian commercial bank in the private sector, headquartered at
Aluva, Kochi, and Kerala. As on 31st March 2016, Federal Bank has 1252 branches spread
across 24 states and 1516 ATMs across the country. Its balance-sheet stood at Rs. 1.37 trillion as
end of March 2016 and its net profit stood at Rs 475 crores for full fiscal year. 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 service like
Internet banking, Mobile banking, Tele banking, anywhere banking, debit cards, online bill
payment and call center facilities to offer round the clock banking convenience to its customers.
The bank has been a pioneer in providing innovative technological solution to its customer and
the Bank has won several awards and recommendations.

Ageas is an international insurance group with a heritage spanning 190 years. Present in 13
countries across Europe and Asia, the company offers Life and Non-Life solutions to millions of
retail and business customers. Ageas helps customer to manage, anticipate and insure their risks
through a wide range of products designed for their needs both today and in the future. As one of

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Europe’s larger insurance companies, Ageas is the No. 1 insurer in Belgium and ranks among the
market leaders in most of the countries in which it operates. With a total workforce of more than
40,000 people (including the non-consolidated partnershisps), Ageas is present in Belgium, the
UK, Luxembourg, France, Italy, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam
and the Philippines. In 2015 Ageas reported annual inflow close to EUR 30 billion (at 100%).
Ageas is listed on Euro next business and is included in the BEL20 index. 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. In September 2012, Ageas
acquired Groupama’s UK insurance operations, boosting its presence in the automobile and
home sectors. The deal will see Ageas add another million policyholders in the UK. In 2016,
Ageas acquired AXA insurance operations in Portugal, becoming the second largest insurer by
premiums, the third Non-Life insurer (with a 14% market share) and the third largest Life
insurer (with a 19% market share).

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3.2 VISION, MISSION AND VALUES

Vision:

To be the leading provider of wealth management, protection and retirement solutions that meets
the needs of our customers and adds value to their lives.

Mission:

1. To continually strive to enhance customer experience through innovative product

offerings, dedicated relationship management and superior service delivery while striving
to interact with our customers in the most convenient and cost effective manner.
2. To be transparent in the way we deal with our customers and to act with integrity.
3. To invest in and build quality human capital in order to achieve our mission.

Value:

▪ Transparency: Crystal Clear communication to our partners and stakeholders.

▪ Value to Customers: A product and service offering in which customers perceive value
▪ Rock Solid and Delivery on Promise: This translates into being financially strong,
operationally robust and having clarity in claims.
▪ Customer-friendly: Advice and support in working with customers and partners.
▪ Profit to Stakeholders: Balance the interests of customers, partners, employees,
shareholders and the community at large.

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 3.3 MILESTONES

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 2007 ● IDBI Federal received license from IRDAI

2008 ● IDBI Federal starts operations with two products –

Homesurance&Wealthsurance.
● IDBI Federal becomes one of the fastest growing new life
insurers to collect premiums worth Rs 100 crores.
● IDBI Federal launches Bondsurance
2009 ● IDBI Wealthsurance Cup 2009 – India v/s Sri Lanka held in Sri
Lanka.
● Collected premium of over 328 corers and 87,000 policies and a
Sum assured of Rs 2825 crores since inception
Launches Retirements &Termsurance Grameen Suraksha
● IDBI Federal launches Incomesurance
2010 ● Launches Incomesurance Endowment & Money Back Plan,
Termsurance Protection Plan &Termsurance Grameen Bachat
Yojana
● Launches Loansurance Group Life Plan &Healthsurance
Hospitalization and Surgical Plan
2011 ● Launches Retirements Guaranteed Pension plan
● Launches TV Campaigns for Wealthsurance – jinse bhi suna,
khareed liya, Incomesurance – guaranteed income ki
bhavishyavani and Retiresurance – Monthly pension, zindgibhar
2012 ● Top 10 most Trusted Life Insurance brands if India in the
Economic Times’ Brand Equity Survey
2013 ● Most active company
Stepathlon bestowed with an award for being the “Most Active
Company”
2014 ● Asian customer Engagement Forum (ACEF)
Gold for the Radio Effectiveness Category for the Child Radio Film
Festival and, Bronze for the Best use of celebrity endorsement
2015 ● Gold Award- PRCI Awards (For Annual Report FY2013-14 at

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 Public Relations Council of India)
● Indian Insurance Awards (recognized as the Under –Served
Market Penetration leader amongst the medium sized life
insurance companies)
● Silver Award- PRCI Awards (For the Business Development kit)
● Silver Award- PRCI Awards (For the Advisor Recruitment
Manual)
● League of communications Professionals Awards
2016 ● Excellence in Radio Awards (ERA) by India Radio Forum
towards most effective use of radio for Childsurance campaign
● Indian insurance Award for Banc assurance Leader in
Small/Medium category Marketing Initiative of the year
● 10th Public Relations Council of India (PRCI) Global
Communications Conclave (Gold for Annual Report, Silver For
Corporate Brochure, Silver for Childsurance Social Media
Campaign
● Outdoor Advertising Convention (OAC) 2016
2017 ● Insurance company of the year 2017 at Assocham Insurance
Excellence Award
● Life Insurance Company of the Year- Medium &Small (Private
Sector)
● Life Insurance Company of the Year 2017 at the India Insurance
Summit And Awards

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 3.4 ORGANIZATION STRUCTURE

CEOVIGNESH
SHAHANE

Marketing
Under Finance Human Produc
&
writing Resourc t
Promotion
e

East
North Zonal
Zonal Support
Support Manage
Manage r
r
South West
Zonal Zonal
Support Support
Manage Manage
r r

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 3.5 PRODUCTS OF IDBI FEDERAL

At IDBI Federal, it’s 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.
● LIFESURANCE
● CHILDSURANCE
● INCOMESURANCE
● TERMSURANCE
● WEALTHSURANCE
● LOANSURANCE
● MICROSURANCE
LIFESURANCE:

Often, the first step towards a long and arduous journey is the toughest. However, once you have
taken that first stride, the rest of the journey seems easier and more enjoyable. With your
investments, it is the same approach that will ensure you build the right corpus to fulfill your
dreams for yourself and your family – start small, save big!

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HOW IT WORKS

Types of life insurance:

1. Term Insurance plan

2. Endowment plan
3. ULIP
4. Whole Life Plans
5. Money Back Plans
6. Annuity Pension Plans

1. Term Insurance:

● Isurance Online Term Plan:Isurance online term plan pays out a lump sum amount to the
beneficiary on the account of death of the policyholder. This plan offers you a minimum life
cover of Rs. 50 lakh and a maximum of 30 crores. The minimum policy term can be 10
years and maximum can be 25 years. The plan offers special discounts to women and the
premium rates are low as compared to what is offered to men.
● Termsurance Life Protection Insurance plan: A plan that ensures your family’s dreams
are protected, no matter what. Termsurance Life Protection Insurance plan by IDBI Federal
offers you with two options- a.) Pure protection cover, which offers you beneficiary with
the death benefit on the account of your death. B.) Return of premium, a type of plan that

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 returns all your premiums, in case you survive the term of the policy. The plan offers
attractive premium rates for women and also offers rebates on high sum assured.
● Termsurance Group Protection Insurance Plan: Helping you secure the future of family
member’s of your employees, Termsurance Group Protection Insurance Plan secures your
employees. With the plan, you can also opt for additional riders like accidental death rider,
critical illness and terminal illness cover.
● Termsurance Sampoorn Suraksha Micro-Insurance Plan: This term insurance plan
offers you financial security at low premium rates. No medical tests are required for
availing this plan and you can also opt for 5 or 10 year policy term. This is a pure term
insurance plan, having no maturity benefit. Sum assured can be minimum Rs. 5000 and
maximum Rs. 50,000.You also have a choice of single or regular premium payment option.

2. Endowment plan:

 IDBI Federal Lifesurance Whole Life Savings Insurance Plan: IDBI Federal
Life Whole Life Savings Plan is an insurance plan that offers life cover up to 100
years of age. A lump sum amount will be paid at the end of premium payment term
and payment is made again when the insured reaches 100 years of age.
 IDBI Federal Lifesurance Savings Insurance Plan: IDBI Federal Life
Lifesurance Savings Insurance Plan is a traditional savings plan that offers
bonuses to boost one’s savings. IDBI Federal Wealthsurance Growth Insurance
Plan: A unit-linked plan that offers you the freedom to invest in over 9 fund
offerings and also provides life cover benefit, thereby ensuring financial security of
your loved ones. This is a smart investment plan that lets you design your
investments your way. It gives you the flexibility to decide what you want to invest
in and for how long you want to invest in. Loyalty additions are provided to boost
your investment.

31 | P a g e
  IDBI Federal Wealthsurance Growth Insurance Plan Single Premium: Enjoy
the growth of your plan by paying one-time premium and also get a life cover to
protect the needs of your loved ones. You are offered a bouquet of 9 funds and
have the ability to switch between them. With this plan, you are also eligible for
partial withdrawals and bonus.

 IDBI Federal Life Insurance Wealth Gain Plan: This is a comprehensive plan
that helps you build wealth and also provides you with life cover to ensure your
loved ones stay protected all throughout the term of the policy. The plan offers you
8 fund offerings and gives you the freedom to invest in one or more funds.
Premium is waived off in case of permanent disability of the policyholder

4. Whole Life Plans:

● IDBI Federal Life Termsurance Group Insurance Plan: IDBI Federal Life
Termsurance Group Insurance Plan helps the employer provide life cover
insurance not only to the employees but also to customers, suppliers and
affiliated groups.

● IDBI Federal Life Group Microsurance Plan: IDBI Federal Life Group
Micro insurance Plan is designed for Micro Financial Institutions. This plan
helps institutions provide life insurance to members of the group and also
provide loan protection to their families.

● IDBI Federal Life Termsurance Sampoorn Suraksha Micro-Insurance

Plan: IDBI Federal Life Termsurance Sampoorn Suraksha Micro-Insurance
Plan is a pure term insurance plan that offers financial protection at a very
minimal cost. One can opt for either a 5 year or 10 year policy term plan.

32 | P a g e
 ● IDBI Federal Loansurance Group Insurance Plan: IDBI Federal Life
Loansurance Group Insurance Plan is for lending institutions. It helps
institutions protect their clients’ savings and assets.

● IDBI Federal Life Insurance Retiresurance Group Insurance Plan: It is a

non-linked, non-participating insurance plan designed for employer-employee
groups that will help the employer plan and manage funds for the employee’s
retirement benefits.

5. Money Back Plans:

It is an endowment plan as well as a money back insurance plan where the premium is paid only
for the first five years of the policy term. The insured will receive guaranteed annual payments
every year from the 6th year.

6. Annuity Pension Plans:

The Annuity Pension Plan not gives you fantastic saving scheme for post retirement but also lets
you multiply and grow your wealth with myriad tailor- made investment options. The range of
entry age is between 18-70 years and the minimum and the maximum policy term are 5 and 75
years respectively.

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CHILDSURANCE:

Whether your child wants to be a doctor, an engineer, an MBA, a sportsman, a performing artist,
or dreams of being an entrepreneur, the IDBI Federal Childsurance Dream builder Insurance
Plan will keep you future-ready against both, changing dreams and life’s twists. It allows you to
create build and manage wealth by providing several choices and great flexibility so that your
plan meets your specific needs. However, what makes Childsurance a must-have for any parent
who is looking to make their child’s future shock-proof is its powerful insurance benefits.
Childsurance allows you to protect your child plan with triple insurance benefits so that your
wealth-building efforts remain unaffected by unforeseen events and your child’s future goals can
be achieved without any hindrance.

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Types of Childsurance Policy:

1. Childsurance Savings Protection Insurance Plan

2. Wealthsurance Future Star Insurance Plan

1. Childsurance Savings Plan: Helping you secure your child's future, this plan offers you
guaranteed annual payouts to fund important milestones in their lives. In case of your death, the
plan waives of all the future premiums and also offers immediate payout at the same time. To
boost your savings, bonus is provided right from first year.

2. Wealthsurance Future Star Insurance Plan: Understanding the need of building a

financially healthy future for your child, this plan by IDBI Federal offers you life cover with
triple benefits. First, the sum assured is paid out as death benefit, second, all the future
premiums are waived off and third, the policy continues and maturity benefit is paid at the end
of the policy term. Guaranteed loyalty benefits are paid to boost your savings and you can also
enjoy tax benefits under 80(C ) and 10(10D) of the Income Tax Act, 1961.

35 | P a g e
HOW IT WORKS

This second illustration below explains how the product works for a limited premium policy with
a policy term of 20 years

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 INCOMESURANCE:

IDBI Federal Incomesurance Endowment and Money Back Plan is loaded with lots of benefits
which ensure that you get Guaranteed Annual Payout along with insurance protection which will
help you to reach you goals with full confidence. Incomesurance Plan is very flexible and allows
you to customize your Plan as per your individual and family’s future requirements. Moreover it
also allows you to choose Premium Payment Period, Payout Period, Payout Options and more.

Types of Incomesurance plan:

Incomesurance Endowment & Money Back Plan is an Endowment cum Money Back Plan as
the name suggests. It is a Traditional Plan without Bonus facility. It is a plan with Guaranteed
Income linked to GOI Bonds
In this plan, premium needs to be paid needs to be paid for r 5, 10 or 15 years.
After the Premium Paying Term is over, the Payout Period starts. Thus, during the Payout period
of 5 or 10 years as chosen, Guaranteed Annual Payout is paid at the end of each year.

Guaranteed Annual Payout= Minimum Annual Payout + Additional Annual Payout

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HOW IT WORKS

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 Age Payout Age Payout

18-30 138% 47 131%

31-36 137% 48 131%

37-39 136% 49 130%

40 135% 50 130%

41 135% 51 130%

42 134% 52 128%

43 134% 53 128%

44 133% 54 127%

45 133% 55 126%

46 132%

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TERMSURANCE:

IDBI Federal Life Insurance Company is India’s one of the fastest growing life insurance
companies. This company offers a variety of products that include wealth management,
retirement and protection to corporate as well as individuals.IDBI Federal Life Insurance Co.Ltd
is a collaboration between IDBI Bank which is India’s premier development and commercial
bank and Federal Bank,

Types of IDBI Federal Term Insurance Plans:

Insurance Online Term Plan

● The minimum entry age is 18 years and maximum age is 50

● The minimum sum assured is 50 Lakh and maximum sum assured is 30 crores
● The policy term can be minimum 10 years and maximum 25 years
● The premium payment frequency is annual
● This plan can be purchased by Indian resident, Non Resident Indian, Person of Indian
origin, Overseas Citizenship of India and an Indian person with dual citizenship may also
apply

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Termsurance Life Protection

● The minimum entry age is 18 years and maximum age is 60 and the maturity age is 70
years maximum
● The minimum sum assured is 5 Lakh and maximum sum assured doesn’t have any limit
● The policy term can be minimum 10 years and maximum 30 years
● The premium payment frequency is annual, half-yearly, quarterly and monthly
● The premium payment term is single and regular payment.
● The premium amount is however based on the age of the life assured and the type of plan
chosen

Termsurance Sampoorn Suraksha

● The minimum entry age is 18 years and maximum age is 55 and the maturity age is 60
years maximum
● The minimum sum assured is Rs.5000 and maximum sum assured is Rs.50, 000
● The policy term can be minimum 5 years and maximum 10 years
● Offers flexibility of premium payment in single and regular premium option
● The premium payment frequency is annually only for regular premium option
● Offers sum assured inbuilt with accidental death benefit
● Doesn’t offer the loan facility option

Group Termsurance Plan

This plan is mainly designed to offer protection to the employees

 The minimum entry age is 18 years in case of employer-employee groups and accidental
death benefit and 15 years in case of non-employer-employee group. The maximum age
is 69.

● The minimum sum assured is Rs.5000 and maximum sum assured has no limits
● The minimum accidental death sum assured is Rs.5000 and maximum sum assured is 50
lakh
● The minimum terminal illness sum assured is Rs.5000 and maximum sum assured is 50
lakh

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 ● Here policy term needs to be renewed every year

WEALTHSURANCE:

Insurance plan. A plan that gives you freedom to decide how much you want to invest and for
how long you want to stay invested. With a bouquet of 9 fund offerings, it gives you the freedom
vest in one or more funds, basis your risk appetite and financial goals in life. Plus it comes with a
life cover benefit that ensures financial security for your loved ones.

Product Benefit

● Maturity benefit:
Maturity benefit is equal to the fund value in your investment account on the date of
maturity. Upon payment of The IDBI Federal Wealthsurance Growth Insurance Plan is a
regular premium unit-linked the maturity benefit, your Wealthsurance Growth plan is
terminated

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 ● Death of Life Insured: Sum assured, fund value in your investment account, 105% of
the total premium paid till the date of death.

LOANSURANCE:

A financial lender that delights the customer will offerings for setting up a new business, higher
education, purchasing a home or expanding a business, it is imperative that you also help your
customers insure their loan liability. In case of the borrower’s death, Loansurance Group
Insurance Plan SP will help the borrower’s family to pay off the outstanding debt.

Under Loansurance Group Insurance Plan SP, two types of life plans are offered. Reducing
Cover - Under this, the death benefit for the member ceases with time. Level Cover - The
death benefit is constant over the cover term of the member and is same as that of initial sum
assured.

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 MICROSURANCE:

A pure term insurance plan that provides life Insurance cover to you by paying a lump sum
benefit to your family in case of an unfortunate death

● Get affordable life cover

● Choice of single or regular premium payments
● Additional amount in case of an accidental death

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3.5 SWOT ANALYSIS OF IDBI FEDERAL LIFE

SWOT analysis of IDBI Federal Life Insurance represents analyzing strength, weakness,
opportunities, and threat of the company which are as follows:-

STRENGTH:-
● The major strength of IDBI Federal Life is its sponsor companies which are IDBI bank,
Federal bank and Fortis. Because of its innovative ideas it is the first insurance company
to collect 100cr within five months of its commencement of business. One major strength
of IDBI Federal is its combined network of more than 1600 branches of IDBI bank and
Federal bank.
● Superior customer service with huge network and innovative products
● High level of customer (both internal & external) satisfaction because of its management
policy.
● Large pool of technically skilled workforce with deep knowledge of insurance market.

WEAKNESS:-
● The major weakness of IDBI Federal is the constraint sectorial growth due to low
unemployment level.
● Low confidence of people in private insurance company.
● The corporate clients under group schemes and salary savings schemes are captured by
other major players.

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OPPORTUNITIES:-
● Only 10% of Indian population is covered by insurance policy out of 30% insurable
population.
● Due to liberalization it can operate globally.
● Fast track carrier development opportunities on an industrial wide basis.
● After liberalization it is expected that insurance business is roughly 400 billion rupees per
year now which shows big opportunities and market for IDBI Federal Life Insurance.
● The existing LIC and GIC, have created a large group of dissatisfied customers due to the
poor quality of service. Hence there will be shift of large number of customers for other
players.

THREATS:-
● Big public insurance companies like LIC, National Insurance Companies Limited,
Oriental Life Insurance etc are the biggest threats to IDBI Federal Life Insurance.
● Large potential market attracts new rivals.

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 4.COMPANY PROFILE
OF
HDFC STANDARD LIFE INSURANCE CO.
LTD.

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 HDFC Standard Life Insurance Co. Ltd.

HDFC Life (HDFC Standard Life Insurance Company) is a long-term life insurance provider
with its headquarters in Mumbai, offering individual and group insurance.

It is a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of
India's leading housing finance institution and Standard Life Aberdeen PLC, leading well known
provider of financial savings & investments services in the United Kingdom. On 14 August 2015
HDFC Ltd. entered into a share sale agreement with Standard Life to sell a 9.00% stake in
HDFC Life to the latter. The transaction is subject to receipt of regulatory approvals. Post the
completion of the above transaction, HDFC will hold 61.65% stake in HDFC Life and Standard
Life’s stake will increase to 35.00%, with rest to be held by others

Presence & Distribution

HDFC Life has about 414 branches and presence in 980+ cities and towns in India. The company
has also established a liaison office in Dubai.

HDFC Life distributes its products through a multi channel network consisting of Insurance
agents, Bancassurance partners (HDFC Bank, Saraswat Bank, RBL Bank), direct channel,
Insurance Brokers & Online Insurance Platform.

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Products & Services
HDFC Life's products include Protection, Pension, Savings, Investment, Health along with
Children and Women plans. The company also provides an option of customizing the plans, by
adding optional benefits called riders, at an additional price. The company currently has 29 retail
and 8 group products, along with 7 optional rider benefits (as on 7 May 2018).

● Protection Plans
● Launched CSC Suraksha to be sold exclusive through the Common Services Centre
network.
● Health Plan
● Savings & Investment plans
● Retirement plans
● Women’s plans
● Children’s plans
● Rural & social Plans
1. Protection plan:

Protection plan have comprehensive coverage at affordable cost,

Provide financial protection for you and your family,
Customize your plan with choice of cover options.
- Life Option: This pays lump sum on death
- Extra Life Option: This pays an additional lump sum on death due to accident
- Income option: This pays 10% of the Sum Assured on death with the remaining 90% payable
as monthly
Income over 15 years
- Income Plus option: This pays the Sum Assured to the nominee upon the death of the life
assured as well as a monthly income to the family for a period of 10 years. A monthly
income equal to 0.5% of Sum Assured becomes payable for a period of 10 years. The
monthly income can be level or increasing at a simple rate of 10% p.a. on each policy
anniversary.

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Benefits:

Under Life Option, the Death Benefit specified above shall be payable in the form of a lump
sum upon death.

Under Extra Life Option, the Death Benefit specified above shall be payable in the form of a
lump sum.

Under Income Option, 10% of the Death Benefit paid as a lump sum upon death ,remaining
90% of the Death Benefit shall be paid as monthly income over next 15 years (0.5% of Death
Benefit.

Under Income plus Option, 100% of the Death Benefit specified above shall be paid as a lump
sum upon death.

2. CSC Suraksha :
CSC Suraksha Plan, a simple, hassle free term insurance plan. This plan provides for a payment
of a lump sum in the event of your unfortunate death.
Benefits:
Death Benefit,
The premium amount excludes any underwriting extra premiums, any loading for modal
premium and taxes and levies as applicable.
Upon the payment of Death Benefit the policy shall terminate and all benefits shall cease.
Maturity Benefit,
This plan provides no maturity benefit.
Surrender Benefit,
This plan provides no surrender value.
Tax Benefit,
Tax benefits under section 80C of the Income-tax Act, 1961, may available to an individual or
HUF for the premiums paid subject to the conditions/ limits specified therein.

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 3. Health plan:
Health is the most important asset you have. Every aspect of your life isdependent on
your good health. Due to changing lifestyles, healthissues have escalated, thus imposing
extra financial burden on thefamily. It becomes imperative therefore to have a health
insuranceproduct in place, to ensure that no matter how critical your illness, itdoes not
impair your financial security.
Benefits:
1. Flexibility:
Pay Single / Regular Premium based on your convenience
Daily Hospital Cash Benefit
2. Daily Hospital Cash Benefit:
Available from ` 250 to` 5000 per day as per your requirement
3. Surgical Benefit:
Get lump sum payout in case of any of the 138 surgeries Specified
4. Critical Illness Benefit:
Lump sum payout in case diagnosed with any of the 18Critical Illnesses specified
5. Value for Money

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 4.2 VISION AND VALUES

Vision

'The most successful and admired life insurance company, which means that we are the
most trusted company, the easiest to deal with, offer the best value for money, and set the
standards in the industry'.

In short, 'The most obvious choice for all'.

Values

Values that define how work:

• Excellence • People Engagement • Integrity • Customer Centricity • Collaboration

Besides the above (which provides an insight into the Corporate Structure of the
Company), the Committees appointed by the Board focus on specific areas and take
informed decisions within the framework of delegated authority, and make specific
recommendations to the Board on matters within their areas of purview. All decisions and
recommendations of the Committees are placed before the Board for information or for
approval.

Key people

The MD & CEO of the company is Vibha Padalkar, Chief Actuary & Appointed Actuary is
Srinivasan Parthasarthy, Prasun Gajri is the CIO & Rajendra Ghag heads the human resources as
Chief HR Officer
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 4.3 SWOT ANALYSIS OF HDFC STANDARD LIFE
INSURANCE

Strengths in the SWOT analysis of HDFC Life Insurance:

This helps in understanding the core areas of the business where it beats the competition and has
the competitive advantage in the market. The business should use its strength to
create differentiation in the market. Strengths are generally the core competency of the business.

1. Customized Packages – The business offers its customers with customized insurance
plans based on the needs of the customer. This is an interesting feature because
everyone needs an insurance plan according to their requirements and offering that
clearly creates a differentiating factor in the market.
2. Brand Image – HDFC life insurance has a very well established domestic image in the
Indian market. Supported by the international image of Standard Life insurance which
further ads up to the credibility of the brand.
3. Well established Networks – The business has a well-established network in the
country who further sells the policies to customers. It has a network of over 500
branches in over 700 cities.
4. The base is Strong – HDFC insurance has a very strong base in capital and reserve.
5. Customer Service is Best in the market – The customer service offered by the
business is exceptionally good and hence it helps in building brand reputation

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Weaknesses in the SWOT analysis of HDFC Life Insurance :

This is the pain area of the organization where it does not have the resources or skills. Business
has to work upon these areas so that they are not left behind from the competition. Though there
will be some or the other weakness it should not be an area which takes the business pout off the
market

1. High Cost of operations – The business involves high administration cost and
management expenses. As selling needs some investment and hence there is a
continuous cash flow going out in order to do business development.
2. Retention of the network is poor – Thought the business has a well-established
network but there is a high churn in the network and hence it further adds to the cost of
operations.

Opportunities in the SWOT analysis of HDFC Life Insurance :

This helps in understanding what other things a business can do with the current skills and
resources. It helps the business to know the areas where it can expand and take a lead in order to
diversify the business and expand the customer base

1. Population – the population of India is increasing at a rapid pace and also the
insurable population is too high and not yet covered completely and hence there is a
huge potential for the business in Indian market.
2. Liberalization in Laws – The liberalization of the insurance laws in India will help the
business to further expand the new avenues which were earlier restricted due to the
stringent policies and laws of the insurance sector.

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Threats in the SWOT analysis of HDFC Life Insurance :

This analysis helps in understanding what are the areas which can impact the business in future
or right away. So business has to prepare itself to handle the threats in the market landscape.
Competition or increasing number of players in the market with same value proposition is a
threat to business as it directly lowers down the customer base and revenue.

1. Instability in Economy – There is a high instability in the economy which impacts the
business to great extent. Global crisis inhibits people from investing in such policies as
the guarantee of getting the returns or even the principal amount is not known

2. NBFC’s Entry in the industry – There is a high competition in the market owing to
the fact that many new players are entering the market and biggest threat is from
NBFC’s

3. Movement of Employees – The industry experiences high churn ratio and hence the
employees who are successful in the industry keeps on moving from one company to
another which puts a lot of pressure on hiring and also the candidates who are driven
for sales and increasing the business in terms of new insurances issued for the brand.

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 4. RESEARCH METHODOLOGY

Research Methodology deals with the procedure adopted to carry out study.

Types of research used under this research study are :

● Exploratory research - it is conducted to clarify the ambiguous situations or problems

Under this study it is used to analyze the working, principle and benefits to Insurance.
● Descriptive research - to portray the characteristics of a situation or problem. It is used
Under the study to analyze the viewpoint and perception of people regarding Insurance.

Research Design:

In the data collection method, we have collected both primary and secondary data to meet the
objectives.

● Primary data – the primary data was collected by a survey based on questionnaire.
● Secondary data – the secondary data was collected mostly from internet and IDBI Federal
Life Insurance Co. data.
Research Design:

Sampling Plan:

● Sampling unit - people of maldahiya and nearby areas

● Sampling technique – random and convenient sampling
● Contact method – questionnaire.

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 5. DATA ANALYSIS AND INTERPRETATION

Ques1. Of which age group you are?

Below 30 31-40 41-50 51-60 Above 60

5% 25% 40% 20% 10%

Sales

above 60below 30
10% 5%

31-40
51-60 25%
20%

41-50
40%

INTERPRETATION:
As per the data collected from various age group people, I found that the 41-50 age groups
people are more invest their money in insurance sector i.e. 40%. While below 30 age group
people is not interested to invest their fund in insurance sector i.e.5%

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Ques2.What is your occupation:

Student Employed Self employed Other

2% 35% 47% 16%

Chart Title
50%

45%

40%

35%

30%

25%

20%

15%

10%

5%

0%
student employed self employed other

INTERPRETATION:
The finding which came out from the survey was that the people who are self employed which is
47% of people is like to make investment for getting better return.

While only 2% of people who are students are not interested to invest in insurance sector.

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Ques3.What is the range of your annual Income:

Below 1 lakh 1-3 lakh 3-5 lakh Above 5 lakh

10% 45% 25% 20%

Series 1
below 1 lakh 1-3 lakh 3-5 lakh above 5 lakh

45%

25%
20%

10%

below 1 lakh 1-3 lakh 3-5 lakh above 5 lakh

INTERPRETATION:
As per the above survey, the result is the person who has 1-3 lakh annual income they invested
more in insurance companies i.e. 45%. And below the 1 lakh annual income people is minimum
to invest their fund i.e.10%.

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Ques4. Do you think Insurance is important?

Yes No
65% 35%

Series 1
yes no

65%

35%

yes no

INTERPRETATION:
As per the data collected from various people, the result is 65% of people to think the investment
is important and they like to invest in insurance sector. While only 35% of people to think the
investment is important.

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Ques5. Would you like to invest in IDBI Federal Life Insurance?

Yes No
75% 25%

80%

70%

60%

50%

40% 75%

30%

20%
25%
10%

0%
yes no

INTERPRETATION:
From the above survey , 75% of people who like to want invest in IDBI Federal life insurance
company and only 25% of people who have not like to invest their money in IDBI Federal life
insurance company.

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Ques6. What kind of investment do you prefer in IDBI Federal Life Insurance Co. Ltd.?

Below 1 lakh 1-3 lakh 3-5 lakh Above 5 lakh

50% 25% 15% 10%

Sales

below 1 lakh
24%

above 5 lakh 1-3 lakh

57% 12%

3-5 lakh
7%

INTERPRETATION:
From the above data it was found out that 50% of people to choose the investment which is
below 1 lakh.

While only 10% of people to choose investment is above 5 lakh.

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Ques7. What percentage of your salary do you prefer to invest on Insurance?

Less than 15% 15-20% 20-25% More than 25%

15% 35% 40% 10%

Series 1
less than 15% 15-20% 20-25 more than 25%

more than 25% 10%

20-25 40%

15-20% 35%

less than 15% 15%

INTERPRETATON:
As per the data collected from various percentage of people there is 20-25% of people are
maximum save our salary i.e. 40% , the 15 -20% age group people is save usually salary 35%,
less than 15% age group people is save 15% salary and more than 25 % of people is save salary
only 10%.

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Ques8. What kind of Investment option prefer in IDBI Federal life insurance and HDFC
Standard life insurance in terms of time?

Short term Long term Both

IDBI 10% 80% 10%
HDFC 5% 65% 20%

Chart Title
IDBI HDFC

5%
65%

20%

10%
80%

10%

short term long term both

INTERPRETATION:
From the above survey, I found that the 10% of short term,80% long term and 10% both
investment prefer in terms of times in IDBI Federal life insurance co. ltd.

And 5% short term,65% long term and 20% both investment prefer in terms of time in HDFC
Standard life insurance co, ltd.

Hence, the maximum people of IDBI Federal is to prefer long term invest for getting long term
benefit and in HDFC Standard there is less people prefer long term as compare to IDBI.

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Ques9. For what purpose you invest in IDBI Federal Life Insurance and HDFC Standard Life
Insurance?

Income Capital Capital other

generation presentation appreciation
IDBI 50% 15% 30% 5%
HDFC 40% 30% 25% 5%

Chart Title
Income generation Capital presentation Capital appreciation other

50%

40%

30% 30%
25%

15%

5% 5%

IDBI HDFC

INTERPRETATION:
As per the data collected and from the diagram given below, it is clear that the maximum
percentage of people invest their money to generate income. While very less percentage of
people to choose other at the time of investment in IDBI Federal life insurance.

And from the above data in the HDFC Standard life insurance there is maximum people purpose
is to capital presentation i.e.30% .

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Ques10. Which company is more trustworthy according to you?

IDBI Federal Life Insurance HDFC Standard Life Other Co.

Co. Insurance Co.
65% 25% 10%

Chart Title

70%
60%
50%
Axis Title

40%
30%
20%
10%
0% Series 2

idbi federal life Series 1

insurance hdfc standard
other
life insurance

Axis Title

INTERPRETATION:
As per above survey 65% of people to choose IDBI Federal life insurance is more trustworthy
insurance company as comparison to others insurance company.

And 25% of people to choose HDFC Federal life insurance is trustworthy insurance company
while only 10% of people to choose for investment is another insurance company.

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Ques11. What scheme of Insurance policy have you taken?

Life Education Retirement Health plan Money

protection plan plan growth plan
plan

IDBI 25% 40% 10% 15% 10%

HDFC 30% 30% 5% 10% 5%

Chart Title
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
life protection education plan retirement plan Health plan money growth
plan plan

IDBI HDFC

INTERPRETATION:

After the survey it was found in IDBI Federal life insurance is more focuses on education plans
i.e.40% .

And in HDFC Standard life insurance is more focuses on life protection plan i.e.30%.

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Ques12. In which option do you like to invest more?

General plans ULIPS

IDBI 80% 20%

HDFC 60% 40%

Chart Title

80%
70%
60%
50%
40%
30%
20%
10%
0%

General plans
ULIPS

IDBI HDFC

INTERPRETATION:
The finding which came out from the survey was the 80% of people like to invest general plans
as compare to ULIPS In IDBI Federal life insurance co. ltd.

And in HDFC Standard life insurance co. ltd. there is more invested in ULIPS as compares to
general plans i.e. 40%

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Ques13. Which company do you feel, provide better service?

IDBI Federal Life Insurance HDFC Standard Life Other

Co. Insurance Co.
55% 30% 15%

Chart Title

other 15%

HDFC Standard 30%

IDBI Federal 55%

INTERPRETATION:
According to above survey, I found that the 55% of people feel the IDBI Federal life insurance
company provide better service as comparison to HDFC Standard Life Insurance Company.

And in 30% of people feel that HDFC Standard Life Insurance Company is provide better
service.

While only 15% of people feel that the better service provider company is other.

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Ques14. What made you choose your current life Insurance Company?

Brand Image Efficient service Low cost Quick settlement Other

of claims

IDBI 20% 25% 20% 30% 5%

HDFC 20% 20% 30% 25% 5%

40%
35%
35%
30%
30%
25% 25%
25%
20% 20% 20%
20%
15%
15%

10%
5% 5%
5%

0%
IDBI HDFC

brand image efficient service low cost quick settlement of claim other

INTERPRETATION:
As per the data collected and from the diagram given above, it is clear that the maximum people
choose the current life insurance company of IDBI Federal life insurance company because of
their efficient service and quick settlement of claims i.e.25%,30%.

While less people choose the HDFC Standard life insurance co,. according their efficient service
and quick settlement of claims.

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 FINDINGS AND SUGGESTIONS

FINDINGS

After the study I found the following points:

● Mostly people prefer IDBI Federal to invest their savings as compared to HDFC
Standard.
● I found that the main reason for investing in IDBI Federal is to get protection from
uncertainty.
● It is clear from the study that most of the people invest in IDBI Federal that of the view
that IDBI Federal have moderate risk factor .
● People become more aware about different investment plans.
● According to above studies the IDBI Federal provide better service as comparison to
HDFC Standard.

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SUGGESTIONS

● The company should undertake awareness programs providing information about

different risk to create new customer.
● The company should inform customer about new products and benefits.
● Risk covered by insurance should be diversified into fixed return products, increasing
return products, regular return products.
● There should be a product with similar features and low initial premium.
● Market surveys should be conducted regularly so that to know about customer demands
and changing needs.

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 CONCLUSION
The entry of private sector insurance companies into the Indian insurance sector trigged off a
series of changes in the industry. Even with the stiff competition in the market place.

A general impression as immense awareness and knowledge among people about various
companies and their insurance products gathered during Data Collection. Generally the mass is
inclined towards HDFC.

An interesting result found from the research that the respondents having less income are more
concern about their safe future and had invested their savings for their future.

Out of 100 respondents, more than 50% are male and about 70% candidate having age below 45
years, which shows that young people shows more attraction towards investment and insurance
rather than old people.

More than 50% respondents are engaged in service i.e. pvt. & govt. sector and among then more
than 70% falls below 3.5 lacs as their annual income.

When we compare result between IDBI Life and HDFC Life plans we conclude that IDBI
FEDERAL has good market image among the respondents and also many respondents believe
that IDBI FEDERAL LIFE provide better return as compare to HDFC life.

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 BIBLIOGRAPHY

● Emerging Trends in Banking, Finance and Insurance Industry by Prof. Anand

M.Agarwal & Krishn A.Goyal
● Principles of Insurance Management by Neelam C. Gulati
 www.idbifederallifeinsurance.com
 www.hdfcstandardlifeinsurance.com
 www.insuranesector.com
 www.wikipedia.com
 www.google.com
 www.policybazaarinsurance.blogspot.com

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 APPENDICES
Questionnaire:

Ques1. Of which age Group you are:

a) Below 30
b) 31-40
c) 41-50
d) 51-60
e) Above 60

Ques2. What is your occupation:

a) Student
b) Employed
c) Self employed
d) Other

Ques3.What is the range of your annual Income:

a) Below 1 lakh
b) 1-3 lakh
c) 3-5 lakh
d) Above 5 lakh

Ques4. Do you think Insurance is important?

a) Yes
b) No

Ques5. Would you like to invest in IDBI federal life insurance:

a) Yes
b) No

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Ques6. What kind of investment do you prefer in IDBI federal life insurance co.:

a) Below 1 lakh
b) 1-3 lakh
c) 3-5 lakh
d) Above 5 lakh

Ques7. What percentage of your salary do you prefer to invest on Insurance:

a) Less than 15%

b) 15-20%
c) 20-25%
d) More than 25%

Ques8. What kind of Investment option prefer in IDBI federal life insurance and HDFC standard
life insurance in terms of time?

a) Short term
b) Long term
c) Both

Ques9. For what purpose you invest in IDBI federal life insurance and HDFC standard life
insurance co.?

a) Income generation
b) Capital presentation
c) Capital appreciation
d) Other

Ques10. Which company is more trustworthy according to you?

a) IDBI Federal life insurance co. ltd

b) HDFC Standard life insurance co. ltd
c) Other

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Ques11. What scheme of Insurance policy have you taken?

a) Life protection plan

b) Education plan
c) Retirement plan
d) Health plan
e) Money plan

Ques12. In which option do you like to invest more?

a) General plans
b) ULIPS

Ques13. Which company do you feel, provide better service?

a) IDBI
b) HDFC
c) Other

Ques14. What made you choose your current life Insurance Company?

a) Brand Image
b) Efficient services
c) Low cost
d) Quick settlement of claim
e) Other

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