INSURANCE:

PRESENTED BY:
NAVNEET RANA
PREETI SINGH
PRINKA PODDAR
PRASHANT KUMAR
INTRODUCTION
1. In India, Insurance is a national matter, in which life and
general insurance is yet a booming sector with huge
possibilities for different global companies.

2. The Indian Insurance sector has gone through several

phases and changes, especially after 1999, when the
Govt. of India opened up the insurance sector for private
companies to solicit insurance, allowing FDI up to 26%.

3. The history of Insurance in India dates back to 1818,

when Oriental Life Insurance Company was established
by Europeans in Kolkata to cater to their requirements.
INSURANCE COMPANIES IN INDIA
1. Bajaj Allianz Life Insurance Company Limited
2. Birla Sun Life Insurance Co. Ltd
3. HDFC Standard life Insurance Co. Ltd
4. ICICI Prudential Life Insurance Co. Ltd.
5. ING Vysya Life Insurance Company Ltd.
6. Life Insurance Corporation of India
7. Max New York Life Insurance Co. Ltd
8. Met Life India Insurance Company Ltd.
9. Kotak Mahindra Old Mutual Life Insurance Limited
10.SBI Life Insurance Co. Ltd
11.Tata AIG Life Insurance Company Limited
12.Reliance Life Insurance Company Limited.
13.Aviva Life Insurance Co. India Pvt. Ltd
14.Shriram Life Insurance Co, Ltd.
15.Sahara India Life Insurance
16.Bharti AXA Life Insurance
 WHAT IS HUMAN LIFE VALUE
1. Beyond all doubt, your life is invaluable.
2. Yet, there is a certain worth that can be attributed to the financial support you offer
your parents, spouse or children.
3. This worth is referred to as Human Life Value (HLV).
• Why should you calculate your Human Life Value?
 You should calculate your Human Life Value so you can accordingly invest in
insurance plans that provide your family with adequate finances and hence security
even in your absence.

• How do you determine your Human Life Value?

 Your Human Life Value is determined by 3 factors:
1. Your age
2. Current and future expenses
3. Current and future income
ICICI PRUDENTIAL
HUMAN LIFE VALUE-CALCULATION
PROTECTION: CURRENT SITUATION CALCULATOR
PROTECTION:GOAL SETTING CALCULATOR
TOOLS OVERVIEW
1. Asset Allocator
Find out what your asset allocation should be, keeping
in mind your risk capacity and your risk behavior.
2. Inflation Erosion index
To find out how inflation will impact your expenses in
the future, use our inflation index calculator to find out
how your current expenses will grow in the future
3. Human Life Value Calculator
Investment in insurance is an essential requirement for
one's financial planning to be complete. However, the
quantum of insurance that one needs is a function of
one's income, assets, liabilities and future goals.
 NEED BASED METHOD:ICICI PRUDENTIAL
In this method, you can assess your needs -- and the needs of
your loved ones and make a calculated assessment.
Other major factors to consider are:
Loans
Kind of lifestyle you want to provide to your family
Provision for non-working spouse who would no longer get an
income
Child's education
Child's marriage
Providing for financially dependent parents
Special needs
Dreams and aspirations such as contributing to charitable causes
CONTINUED…
Once you determine the above factors, you run the following
calculations:
1. Lump sum needs on Life to be Insured's death
   a. Home loan payoff
   b. Car loan payoff
   c. Child's education
   d. Child's marriage 
   e. Emergency fund post death
2. Monthly income needs
  a. Monthly expenses
  b. Income of Living spouse in case she earns, or rent or interest
  c. Shortfall = (a-b)
CONTINUED..
3. Sum up the current invested assets and current life
insurance cover. Now see how much this total differs by
what you have calculated above. This will be the shortfall
(considering that you die today) that you will need to get
covered. But do note that invested assets exclude residence,
car and other personal assets.
HDFC:HUMAN LIFE VALUE CALCULATOR
NEED BASED METHOD:HDFC
1. Calculate outflows
1. Calculate annual income.
2. This is the amount that your family would require
annually in your absence.
3. You would need to consider day to day expenses
considering inflation.
2. Calculate Inflows/Assets.
1. Calculate saving that you have in your bank account,
your PF balance.
2. Do not consider your house as your family would need a
place to live (Until and unless you have 2 houses).
INSURANCE PLANS:ICICI PRUDENTIAL
ICICI Prudential has a wide array of insurance plans that have
been designed with the philosophy that different individuals are
bound to have differing insurance needs.
Pension & Retirement Solutions:
1. The primary objective of a pension plan is to help you provide
for your financial needs in your post retirement years.
2. You will find a Pension Planning Calculator on the site, meant
to make your pension plan review as simple as possible.
3. The calculator is the first step in your Pension Plan scheme,
there are othe steps towards getting the Indian pension policy
you need.
CONTINUED..
Health Product Suite:
Under Health Product Suite, ICICI Prudential offers plans
under the following major need categories: 
Hospitalisation Plan
MediAssure
Hospital Care 
 Critical Illness Plans
Crisis Cover 
 ICICI Prudential Smart Kid New Unit Linked RP
Death Benefit
Sum assured is paid out immediately; future premiums
are waived and the fund value is paid out on maturity.
Maturity Benefit
 Fund value which can be taken immediately or in
tranches through the 5 year settlement period.
Nominee
The child has to be the nominee.
 There is an age restriction on the nomination which is
between 0 and 15 years.
PERSONAL ACCIDENTAL INSURANCE
HDFC: CHILD INSURANCE PLANS
Children’s plans help you save so that you can fulfil your child’s
future dreams and aspirations.
• These plans go a long way in securing your child’s future by
providing the required protection and financing the key
milestones in their lives, even if you are not around to oversee
them.
• Who should take a children’s plan?
• All parents who have the capacity to afford such a plan should
invest. It is imperative that the plan be taken by the earning
parent/parents so that the financial security is provided to the
child.
• Which plan to choose?
• You should choose a plan that satisfies your need.
HDFC SLIC Young Star Super
Death Benefit:
1. Sum assured is paid out immediately.
2. Double Benefit – all future premiums towards the
policy are paid by the company and the fund value is
paid to the beneficiary on maturity.
3. Triple Benefit – 50% of the premium is paid to the
beneficiary and the remaining 50% goes towards the
policy and the fund value if paid out on maturity.
 Maturity Benefit
Fund value which can be taken immediately or in
tranches through the 5 year settlement period.
HDFC ACCIDENTAL INSURANCE