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ABOUT THE COMPANY

ICICI Prudential life insurance company is a joint venture between icici bank, a

premier financial powerhouse and prudential plc, a leading international financial services

group headquartered in the United Kingdom. ICICI Prudential was amongst the first private

sector insurance companies to begin operations in December 2000 after receiving approval

from insurance regulatory development authority (IRDA).

ICICI Prudential’s equity base stands at rs.6.75 billion with ICICI bank and

Prudential plc holding 74% and 26% stake respectively. In the year ended march 31, 2004,

the company had issued over 430,000 policies, for a total sum assured of over Rs. 8,000

crore and premium income in excess of Rs. 980 crore. The company has a network of about

30,000 advisors: as well as 12 bancassurance tie-ups. Today the company is the #1 private

life insurer company.

ICICI Prudential was the first life insurer in India to receive a national insurer

financial strength rating of AAA (Ind) from fitch ratings. For three years in a row, ICICI

Prudential has been voted as India’s most trusted private life insurer, by the economic times -

ac Nielsen Org Marg survey of 'most trusted brands'. As we grow our distribution, product

range and customer base, we continue to tirelessly uphold our commitment to deliver world-

class financial solutions to customers all over India.

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ABOUT ICICI

ICICI bank is India’s second largest bank with an asset base of Rs. 106812 crore.

ICICI bank provides a broad spectrum of financial services to individuals and companies.

This includes mortgages, car and personal. Loans credit and debit cards, corporate and

agricultural finance. The bank services a growing customer base of more than 7 million

customer accounts and 5 million bondholders’ accounts through a multi-channel access

network. This includes about 450 branches and extension counters, 1675 ATMs, call centres

and internet banking. ICICI bank posted a net profit of Rs. 1206 crore for the year ended

march 31, 2003. Icici bank is the only Indian company to be rated above the country rating

by the international rating agency Moody’s and the only Indian company to be awarded an

investment grade international credit rating. The bank enjoys the highest AAA (or

equivalent) rating from all leading Indian rating agencies.

ABOUT PRUDENTIAL

Established in 1848, Prudential plc is a leading international financial services

company in the UK, with around us 4250 billion funds under management, and more than 16

million customers worldwide. Prudential has brought to market an integrated range of

financial services products that now includes life assurance, pensions, mutual funds,

banking, investment management and general insurance. In Asia, prudential is UK's largest

life insurance company with a vast network of 22 life and mutual fund operations in 12

countries-China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines,

Singapore, Taiwan, Thailand and Vietnam. Since 1923, Prudential has championed

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customer-centric products and services, supported by over 60,000 staff and agents across the

region.

THE ICICI PRUDENTIAL EDGE:

The ICICI Prudential edge comes from our commitment to our customers, in all that

we do - be it product development, distribution, the sales process or servicing. Here's a peek

into what makes us leaders.

1. Our products have been developed after a clear and thorough understanding of

customers' needs. It is this research that helps us develop Education plans that offer the ideal

way to truly guarantee your child's education, Retirement solutions that are a hedge against

inflation and yet promise a fixed income after you retire, or Health insurance that arms you

with the funds you might need to recover from a dreaded disease.

2. Having the right products is the first step, but it's equally important to ensure that

our customers can access them easily and quickly. To this end, ICICI Prudential has an

advisor base across the length and breadth of the country, and also partners with leading

banks, corporate agents and brokers to distribute our products .

3. Robust risk management and underwriting practices form the core of our business.

With clear guidelines in place, we ensure equitable costing of risks, and thereby ensure a

smooth and hassle-free claims process.

4. Entrusted with helping our customers meet their long-term goals, we adopt an

investment philosophy that aims to achieve risk adjusted returns over the long-term.

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5. Last but definitely not the least, our 20,000 plus strong team is given the

opportunity to learn and grow, every day in a multitude of ways. We believe this keeps them

engaged and enthusiastic, so that they can deliver on our promise to cover you, at every step

in life.

PARTNERS

ICICI and Prudential came together in 1993 to form Prudential ICICI Asset

Management Company, which has today emerged as one of the leading mutual funds in

India. The two companies bring together two of the strongest financial service brands in Asia,

known for their professionalism, excellent quality of service and long term commitment.

Riding on the success of this relationship, the two companies joined hands once more in

2000, to form ICICI Prudential Life Insurance Company Limited. ICICI bank has 74% stake

in the company, and Prudential plc has 26%.

VISION MISSION AND VALUES OF THE COMPANY

1. VISION

To Be The Dominant Life And Pensions Player Built On Trust By World Class

People And Service.

This could be achieved by:-

1. Understanding the Needs of the Customers and Offering Those Superior

Products and Services.

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2. Leveraging Technology to Service Customers Quickly, Efficiently and

Conveniently.

3. Developing and Implementing Superior Risk Management and Investment

Strategies to Offer Sustainable and Stable Returns to Policyholders.

4. Providing and Enabling Environment to Foster Growth and Learning for their

employees

5. And above all, building transparency in their dealings.

2. MISSION

“To set the standard in helping our customers manage their financial future.”

3. VALUES

The success of the company will be founded in its unflinching commitment to 5 core

values. Each of these values describes what the company stands for, the qualities of

their people and the way they work. They are as follows:-

INTEGRITY

CUSTOMER FIRST

BOUNDARYLESS

OWNERSHIP

PASSION

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MANAGEMENT PROFILE

Board of Directors

The ICICI Prudential life insurance company limited board comprises reputed people

from the finance industry both from India and abroad.

Mr. K.V. Klamath: Chairman

Mr. Marknorbom

Mrs. Lalita D. Gupta

Mrs. Kalpana Morparia

Mrs. Chanda Kochhar

Mr. Kevin Holmgren

Mr. M.P. Modi

Mr. R. Narayanan

Ms. Shikha Sharma, Managing Director

Management Team

Ms. Shikha Sharma, Managing Director

Mr.Sandeep Batra, Chief Financial Officer * Company Secretary

Mr. Shubhro J. Mitra. Chief- Human Resources

Mr. Puneet Nanda, Head- Investments

Ms. Anita Pai, Chief-Operations & Underwriting

Mr. V Rajagopalan, Appointed .Actuary

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Mr. Shridhar Sethuram, Chief- Sales & Marketing

Mr. Anil Tikoo, Head- Information Technology

DISTRIBUTION

ICICI Prudential Has One Of The Largest Distribution Networks Amongst Private

Life Insurers In India, Having Commenced Operations In 58 Cities And Towns In India.

These Are:

Agra, Ahmedabad, Ajmer, Allahabad, Amritsar, Aurangabad. Bangalore, Bhatinda,

Bhopal, Bhubhaneshwar, Calicut, Chandigarh, Chennai, Coimbatore,

Dehradun, Goa, Guntur, Gurgaon, Hyderabad, Hubli, Indore, Jaipur, Jalandhar,

DISTRIBUTION CHANNELS

Till Date Insurance Agents Still Remain The Main Source Through Which Insurance

Products Are Sold. The Concept Is Very Well Established In The Country Like India But

Still The Increasing Use Of Other Sources Is Imperative. It Therefore Makes Sense To

Look At Well-balanced, Alternative Channels Of Distribution.

LIC Has Already Well Established And Have An Extensive Distribution

Channel And Presence. New Players May Find It Expensive And Time Consuming

To Bring Up A Distribution Network To Such Standards. Therefore They Are

Looking To The Diverse Areas Of Distribution Channel To Have An Advantage. At

Present The Distribution Channels Of ICICI Prudential Life Insurance Private

Company Ltd Are:

Tied Agency

Corporate Agents

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Brokers And Cooperative Societies

Bancassurance

To Make All These Channels A Success The Companies Have To Be

Very Alert And Skillful To Know How To Use These Channels In A Proper Way.

BANCASSURANCE

India has an extensive bank network established over the years. What insurance

companies have to do is to just take advantage of the customers' long-standing trust and

relationships with banks. This is a mutually beneficial situation as banks can also expand

their range of products on offer to customers, while the insurance company will also earn

profits from the exposure. Another advantage is that banks, with their network in rural

areas, help to fulfill rural and social obligations stipulated by the insurance regulatory and

development authority (IRDA) recently. Insurance companies should see bancassurance as a

tool for increasing their market penetration in India. It is also good for the one who sees

bancassurance in terms of reduced price, high quality product and delivery at doorsteps.

Everybody is a winner here. The creation of bancassurance operations has made an

important impact on the financial services industry at large. This is though a new concept

but it has gained a lot of importance in the industry at present and has a great future.

Bancassurance is an important channel of distribution for insurance companies. This

channel is relatively new in India but has already taken roots. This article dwells on ICICI

bank's experiences in bancassurance across its various channels and segments. Icici bank is

the second largest commercial bank in India with a customer base of over five million retail

customers and five million bondholders and a deposit base of well over Rs.one lakh crores.

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The bank is today the single largest distributor for ICICI Prudential Life Insurance Company

(ICICI Pru life) and is arguably the most successful bancassurance channel in India. Twenty

per cent of ICICI Pru life's total sales come

From bancassurance, a major share of which comes from ICICI bank. The bank was

one of the pioneers to launch bancassurance as early as 2001.the decision to offer insurance

to the bank's customers was a quick one. The universal banking concept supported the idea

of creating an optional structure for the retail business and allowed the full range of asset and

liability products to be offered to all its retail customers. With the bank co-promoting ICICI

Prudential Life Insurance Company (ICICI Pru Life), the selling of its products was taken up.

The bank has a large geographical reach with presence in over 230 cities across the country.

Even though this is a vast market, ICICI Pru life was unable to provide operational support in

so many cities right away. Hence, it was decided to start with the top cities and slowly expand

to other cities.

After two years of operation, the bank today offers insurance at 25 major cities of the

country. While starting bancassurance, ICICI bank considered various sales one of the

options was to take a corporate agency license and hire an independent sales force to sell

insurance. It was not easy to get a corporate agency at that point of time. However. It was

certain that the bank would take the insurance distribution business seriously and be the clear

industry leader. It was decided to start with a referral model and then move to become a full-

fledged insurance distribution house over a period of time. Under the referral model, the bank

would refer its customers to ICICI Pru life who would employ an exclusive sales force to

be deployed at its branches. The bank staff would give referrals to the ICICI Pru life

employees who would follow up and close the deals. After two years, the referral model

has been a success. Cross-sales to the branch walk-in customers, salary account customers

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and private banking customers are effectively taking place. Here's a review of each of these

channels and segments.

BRANCH

The branch channel has been the backbone of bancassurance for ICICI bank. The

insurance product was completely new for the entire front desk staff of the bank. A lot of

ground work had to be put in to make the branch staff aware of insurance. Training sessions

were planned for the branches after banking hours and during holidays. The best part of this

training was that the branch staff showed a lot of interest in learning about insurance and

various insurance products. This had a positive impact on sales. Motivation of the branch

staff is also important to ensure that quality referrals are continuously generated for insurance

sales. Insurance referrals are a part of the branch manager's targets and credit for insurance

sales is given to the branch.

ATM

Other channels, which service the branch customers, are the ATM network. Call

centre and the website on the internet. ICICI bank has the largest ATM network in the country

with over 1,700 ATMs. A number of customers do not visit the branch at all, they use /only

the ATMs. These are the particularly serve higher income group customers. I am

personally very bullish on the ATM channel and its strengths. The quality of leads from this

channel can be improved substantially on introducing more complexities,Which help to attract

the customer towards the insurance product.

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INTERNET

The internet has proved to be one of the most potent and low-cost sales channels

all over the world. However, insurance distribution is yet to take off from this channel in

India. I am of the opinion that the sales through this channel can be enhanced, especially

when customers are already using the bank's website for their banking needs. The internet

can be used to offer value added services like product information, customer profiling,

suitable product recommendation and finally, purchase of the policy itself. Post-sale policy

servicing can also be done through the internet itself. The bank intends to significantly

enhance its internet capabilities in insurance distribution business as it views a great potential

in the internet for acquiring and servicing the customers. Call centre ICICI bank has got

some of the largest in-house call centre in the country. The call centre is an expensive but

effective channel which can generate quality insurance leads. The call centre customer

service officers (CSOS) interact with a number of customers each day. At the end of the

insurance training sessions. The csos started generating referrals for the insurance. This is

an expensive mode of getting referrals, but the leads generated are of good quality and

conversion rates have been higher Salary accounts.

BROKERS :

There is also the system of brokers who canvass business and place the same with

insurers, on terms that are standard or even negotiated. Negotiation of terms will be

necessary, if the needs of the proposer are unique and not met by the benefits under the

standard plans of insurance. A broker usually does business for mare than one insurance

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company. He collects commission from the insurer with whom the business is placed and does

not change the prospect. In India however till the beginning of the year 2002, the system of

brokers were not permitted. The IRDA has powers to review the law in this matter. It has

since issued regulations regarding the operations of brokers. Brokers have to obtain licenses

from the government in order to be able to procure business and receive commission therefore.

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ORGANIZATIONAL STRUCTURE OF ICICI PRUDENTIAL LIFE INSURANCE CO. LTD. LUCKNOW

BRANCH SALES MANAGER

TERRITORY SALES MANAGER

AREA SALES MANAGER

UNIT MANAGER

TIED AGENGY

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CAREER PROGRESSION AND FUTURE OPPORTUNITIES

ADVISOR

PINNACLE UNIT MANAGER

AGENCY MANAGER

SENIOR AGENCY

MANAGER

ASSISTANT SALES

MANAGER

PARTNERSALES

MANAGER

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ACHIEVEMENTS

ICICI Prudential is the largest private player in the insurance industry in India,

with 34.3% market share among pvt. Life insurance and 5.6% of total market

share

They sell one policy every two minutes

They have crossed one million policies milestones till date.

They have collected new business premium income: Rs.. 1700 crores,

Total sum assured: over Rs. 22500 crores.

ICICI Prudential is the first life insurance company to offer ecs debit Facility

ICICI Prudential is first company to introduce unit linked pension products.

Prudential is 154 year old company (founded in the year 1848)

1t is one of the largest companies in U.K.

It's the fifth largest company in the word.

In the year 2000 ICICI bank was awarded the best bank award by global finance

media inc and in the year 2004 ICICI bank is awarded as a company of the year,

Mr. K.V. Kamath is honored as businessman of the year by Economic Times this

year.

Prudential has 75 years of experience in Asia.

ICICI bank is now the parent company for: ICICI Venture CICI Ltd., ICICI

Securities, ICICI Prudential life insurance companies ICICI Web Trade, ICICI

PFS,ICICI Capital, ICICI InfoTech.

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PRODUCTS

Life is unpredictable. But in face of adversity, our responsibilities towards our

parents, children and loved ones need not be compromised. Insurance planning equips you to

smooth out the uncertainties and adversity that life might send your way, so that the best that

life as to offer, secure in the knowledge that your beloved ones are well provided for.

ICICI PRU offers a complete range of insurance products for customer preferences.

1. Protection Plans

2. Saving Plans

3. Child Plans

4. Investment Plans

5. Retirement Plans

6. Group Plans

7. Rural Plans

8. Plans for NRIs

9. Keyman Plans

10. Riders

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PROTECTION PLANS

Life Guard

ICICI Prudential Life Insurance offers LifeGuard to customers- a set of

pure protection plans. Choose from amongst three different product structures to

insure your l i f e and provide total security to your family, at a very affordable

cost.

Level Term Assurance with return of premium

Level Term Assurance without return of premium

No survival or maturity benefits.

You can also enhance the above two policies by adding Accident

& Disability Benefit Rider and Waiver of Premium Rider (WOP).

Level Term Assurance - Single premium:

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No survival or maturity benefits

SAVING PLANS

I C I C I P r u d e n t i a l o f f e r s a v a r i e t y o f p o l i c i e s t h a t g i v e c u s t o m e r s t h e

b e n e f i t s o f p r o t e c t i o n a n d t h e o p p o r t u n i t y t o s a v e f o r im p o r t a n t a s s e t s o r e v e n t s ,

l i k e a h o m e , a c a r o r a w e d d i n g .

Invest Shield Cash

A regular premium unit-linked insurance plan with an assurance of Capital

Guarantee# with the added advantage of flexible liquidity option. An ideal plan

for long term planning with the benefit of liquidity.

The key features of the plan are:

1. Flexibi l i ty to choose a specific level of protection (Sum

Assured), based

on a mul t iple of the annual premium. You can also choose the

term of

the plan.

2. At the end of the term, the higher of the value of units or the

guaranteed

value* is paid. On death, Sum Assured along with the higher of

value of units or the guaranteed value is payable.

3. Facility to make withdrawals from the 6th policy year onwards t i l l the

end of the policy term. Every year withdraw up to 10% of the value

of units.

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4. Additional credits payable as a percentage of the initial annual

premium are paid along with the death or maturity benefit.

5. Additional insurance for 10 years after the maturity, for an amount

of 50% of the Sum Assured.

6. Flexibility to make additional investment with the help of the top-up

facility.

7. F l e x i b i l i t y to increase / decrease your annual premium amount

8. F a c i l i t y of Automatic Premium Payment- With this facility you can

take a temporary break from premium payment.

9. Total transparency with the premium allocations, and other

charges declared upfront.

10. The guaranteed value of the unit fund is the value of all

invested premiums (premiums net of all charges) along with the

declared bonus interests.

** With Automatic Premium Payment facility, you can avail a

temporary break from premium payment for a maximum of 1 year. This

facility is available once if the premium paying term is less than 15 years and

twice, if it is 15 years or more.

# The capital guarantee is applicable only on the invested premium and

the declared bonus interests.

You can also enhance your policy by adding Accident & Disability

Benefit Rider, Waiver of Premium Rider and Critical Illness Rider.

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Invest Shield Life:

A regular premium unit-linked insurance plan with an assurance of Capital

Guarantee#. An ideal plan for your long-term savings and protection

requirement.

The key features of the plan are:

Flexibility to choose a specific level of protection (Sum Assured), based

on a multiple of the annual premium. You can a l s o choose the term of

the plan.

At the end of the term, the higher of the value of units or the guaranteed

value* is paid. On death, Sum Assured along with the higher of value of

units or the guaranteed value is payable

Additional credits payable as a percentage of the initial annual premium

are paid along with the death or maturity benefit.

Additional insurance for 10 years after the maturity, for an amount of

50% of the Sum Assured.

Flexibility to make additional investment with the help of the top-up

facility.

Flexibility to increase / decrease your annual premium amount

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F a c i l i t y of Automatic Premium Payment- With this facility you can take a

temporary break from premium payment. **

Total transparency w i t h the premium allocations, and other charges

declared upfront.

*The guaranteed value of t h e u n i t fund is the value of a l l invested premiums

(premiums net of a l l charges) along with the declared bonus interests.

** With Automatic Premium Payment facility, you can avail a temporary

break from premium payment for a maximum of 1 year. This facility is

available once if the premium paying term is less than 15 years and twice, if it

is 15 years or more.

# The capital guarantee is applicable only on the invested premium and the

declared bonus interests.

You can also enhance your policy by adding Accident & Disability Benefit

Rider , Waiver of Premium Rid er and Critical I l l n e s s Rider .

Invest Shield Gold:

A unit-linked insurance plan with an assurance of Capital

Guaranteed which offers you the benefit of a limited premium payment term.

An ideal plan for protection with wealth creation that offers the flexibility

of a limited premium paying term.

Flexibil i ty to choose a premium payment term of 5, 7 or 10 years for a

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maturity term of 10, 15 or 20 years respectively.

Flexibility to choose a specific level of protection (Sum Assured), based

on a multiple of the annual premium,

At the end of the term (maturity), the higher of the value of units or the

guaranteed value* is paid. On death, Sum Assured along with the higher

of value of units or the guaranteed value is payable.

Additional credits payable as a percentage of the initial annual premium

are paid along with the death or maturity benefit.

Facility to make withdrawals from the 6th policy year onwards t i l l the end

of the p o l i c y term. Every year withdraw upto 10% of the value of units

Flexibility to make additional investment with the help of the top-up

facility.

Flexibility to increase / decrease your annual premium amount

Total transparency with the premium allocations, and other charges

declared upfront.

The guaranteed value of the unit fund is the value of all invested

premiums (premiums net of a l l charges) along with the declared bonus

interests.

# The capital guarantee is applicable only on the invested premium and the

declared bonus interests.

You can a lso enhance your p o l i c y by adding Accident & D i s a b i l i t y

Benefit Rider and Critical I l l n e s s Rider.

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Premier Life

Presenting Premier Life - The Preferred plan for the Preferred Customer.

The key features of the plan are:

Limited premium payment option: Choose from among a 3, 5, 7 or 10

year premium paying term.

Choice of sum assured: Choose a sum assured, which is a minimum

multiple of 1 and a maximum multiple of 25 times the annual

contribution.

Additional allocation of units on a periodic basis.

F a c i l i t y to top-up your investment any l i m e you have surplus funds.

Choose from among four funds, based on your investment objective and r i s k

appetite.

Choice to switch between investments options (4 free switches every

policy year).

Flexibility to decrease your sum assured.

Add-on riders to protect you against any eventuality.

Loans against the policy.

You can also enhance your policy by adding Critical Illness Rider ,

Accident & Disability Benefit Rider .

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L i f e T i m e L i f e t i m e l l

Presenting LifeTime & LifeTime II - unit -linked plans that meets your

changing needs over a lifetime. These solutions have been developed to

meet your savings, protection and investment needs at every stage

in l i fe .

Protection:

Choose a specified level of protection (available only with LifeTime).

Two levels of Sum Assured to choose from (available only with LifeTime

II).

Flexibility to increase or decrease your sum assured.

Add-on riders to protect you against any eventuality.

Savings:

F l e x i b i l i t y to increase or decrease your contribution.

Facility of Premium Holiday, wherein t h e policy continues even if there

is a temporary break in the payment of annual contribution (available

only with LifeTime).

F a c i l i t y of Automatic Cover Continuance, wherein the policy continues

even if there is a temporary break in the payment of annual contribution

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(available only with LifeTime I I) .

Facility to top-up your investment any time you have surplus funds.

Additional allocation of units on a periodic basis.

Loans against the policy.

Investment:

Choose from among four funds, based on your investment objective and

r i s k appetite.

Choice to switch between investments options (4 free switches every

pol icy year).

You can also enhance your policy by adding Critical Illness Rider .

Major Surgical Assistance Rider , Accident & D i s a b i l i t y Benefit Rider ,

Accident Benefit Rider (available only with Life Time) and Waiver of Premium

Rider (ava i l ab le on ly with Life Time II) .

Secure plus:

An insurance plan that gives added protection, savings and multiple options,

a l l in one!

The flexibility to choose your premium contribution.

The flexibility to choose amongst three levels of cover ( i n the form of

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sum assured) for the same amount of total annual contribution.

The flexibility of shifting between the three levels of cover, as you

require.

The f l e x i b i l i t y of r e c e i v i n g your maturity proceeds as a lumpsum or in

equal annual installments over 3 or 5 years.

You can also enhance your policy by adding Variety of Riders

Cash Plus:

o An insurance plan that gives you added protection, savings, multiple

options, p l u s the power of liquidity.

The f l e x i b i l i t y to choose your premium contribution.

The f l e x i b i l i t y to choose amongst three levels of cover ( i n the form of

sum assured) for the same amount of total annual contribution.

The flexibility of shifting between the three levels of cover, as you

require.

The f l e x i b i l i t y of r e c e i v i n g your maturity proceeds as a lump sum or in

equal annual installments over 3 or 5 years.

The flexibility of withdrawing up to 10% of the accumulated value of

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your policy, after the first 5 policy years.

You can a l s o enhance your policy by adding Variety of Riders

Save’n’Protect:

o An ideal plan for those who want to accumulate funds on a regular

basis while

Enjoying insurance protection.

Guaranteed Benefits: Guaranteed additions @ 3.5% of the Sum

Assured, compounded annually for the first 4 years of the policy.

Extended Life Cover: An extended cover for 5 years after the maturity

of the policy, for 50% of the sum assured, at no extra cost.

Maturity Benefit: At the end of the term, the policyholder receives the

full sum assured, the guaranteed additions and the vested bonuses.

Death Benefit: The beneficiary receives the sum assured, the guaranteed

additions and the vested bonuses incase the life assured were to meet

with an unfortunate event. In case the life assured is aged 7 years or

less, the basic premium paid will be returned.

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You can a l s o enhance your policy by adding Critical I l l n e s s

Rider , Major S u r g i c a l Assistance Rider , Accident & D i s a b i l i t y Benefit Rider ,

Waiver of Premium Rider (WO P)

CHILD PLANS

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Smart Kid Education Plan : As a r espons ib le pa ren t , you wi l l

a lways s t r ive to ensure a hass le - f ree , successful life for your c h i l d .

However, life is full of uncertainties and even the b e s t - l a i d plans can go

wrong. Here's how you can g i v e your c h i l d a 10 0% safe and assured

tomorrow, whatever the uncertainties. Smar t Kid i s especia l ly des igned to

provide f lex ib i l i ty and safeguard your c h i l d ' s future education and

lifestyle, taking a l l p o s s i b i l i t i e s into account. Choose from amongst a

basket of 4 plans:

o S m a r t K i d r e g u l a r p r e m i u m

o S m a r t K i d u n i t - l i n k e d r e g u l a r

p r e m i u m

o S m a r t K i d u n i t - l i n k e d r e g u l a r p r e m i u m I I

o S m a r t K i d u n i t - l i n k e d s i n g l e

p r e m i u m I I

All these plans offer you:

Financial Benefits: Regular payments at critical stages in your

c h i l d ’ s life, like Board examinations, Graduation and Post-

graduation.

Total peace of mind, even if you are not around

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Sum Assured is paid immediately: Ensures that your loved ones

stay f inanc ia l ly secure, even in your absence.

All future premiums are waived: Ensuring that your family is

not financially burdened in your absence.

Policy benefits continue: The educational benefits of the policy

continue, ensuring that your c h i l d can rea l i ze his or her dreams

without any hassles.

Development Allowance: Smart Kid guarantees regular income to

secure your child’s educational career and also ensures hi s or her all-

round development, for a nominal additional amount. The

Income Benefit Rider takes care of this through an annual payment

of 10% of the sum assured, to your ch i l d , t i l l the maturity of the

policy, in the unfortunate event of the death of the parent.

All Smart Kid plans can be enhanced with the Accident & Disability Benefit

Rider and Income Benefit Rider . You can a l s o an Accident Benefit Rider to a Smart

Kid Regular Premium policy, and a Waiver of Premium Rider (WOP ) to Smart Kid

unit-linked regular premium policy.

INVESTMENT PLAN

Life Link II:

Life Link I I i s a unique plan tha t combines the secur i ty of a l i f e

insurance pol icy wi th the oppor tuni ty of en joying high returns on your

31

investments , without the market r isks compromising on the protection of

your family!

Death Benefit: The Sum Assured under the product has 2 options,

ei ther 500% of the i n i t i a l premium or 1 0 5 % of the i n i t i a l premium. In the

event of an unfortunate death, the beneficiary will receive higher of the value

of u n i t s or the i n i t i a l death benefit, less any withdrawals.

Withdrawal Benefit: One can make partial withdrawals from the

accumulated value of the policy after completion of one p o l i c y year.

Flexibility: Choose from four fund options, based on your investment

objective and r i s k appetite. If at a later stage your financial priorities change,

you can switch between the various fund options, absolutely free, 4 times a year.

RETIREMENT PLANS

Retirement Solutions:

Life Expectancy has been r i s i n g rapidly and today you can

expect to l i v e longer than your e a r l i e r generations. For you, t h i s increase

will mean a longer retirement life, stretching i n t o a couple of decades. ICICI

Prudential presents Retirement Solutions

tha t combine the bes t o f insu rance and inves tmen t . These so lu t ions

a re developed to ensure your peace of mind for the years to come.

1. Why plan for retirement?

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2. How much s h o u l d I se t aside for retirem ent?

3. The impact of inflation on your retireme nt savings

4. Why plan early?

5. About Annuities

Why plan for retirement?

For too many people, the joy of retirement after years of hard work is

e c l i p s e d by t h e financial uncertainties that it brings. Despite a l l the

planning and saving, you can never sure whether your money w i l l l as t a

l i fe t ime. Re t i rement p lanning of fers a way to ensure a more enjoyable ,

s t ress f ree tomorrow. A prudent plan will ensure that increasing l i f e

expectancy, higher inflation and increasing taxes do not eat away into your

hard earned savings.

How much must I set aside for retirement?

To ensure a comfortable retired life, you would be wise to invest

money into additional avenues like pension plans. How much you need to

invest can be answered by answering some questions such as:

1. How long do you have to save that amount before retirement?

2. Where can you invest your retirement money?

3. How much risk are you willing to take on your investments?

33

IMPACT OF INFLATION:

Inflation implies the change in the worth of money over a period. By

the time you retire, your money will be worth a lot less than what it is

today. So, its important to factor this in when you invest for your golden

years.

In order to

determine just how much

buying power your

retirement income will

have, you should apply

34

the expected rate of inflation to your planned annuity income. The procedure

is as follows :

First estimate how much annual income you will need to live the life

style you want, in today’s currency.

Second, multiply this amount by one plus the annual rate of inflation. For

example, if you think you w i l l need Rs.200 ,000 a year and the

expec ted annua l r a t e o f i n f l a t i on i s 5%: Rs.200,000 x (1 + 0.05) =

210,000 You will actually need Rs.210,000 to cover your expenses after a

year - inclusive of the cost of r i s i n g inflation.

Repeat the calculation, using your new total, for every year

you plan to wait before drawing on your savings at retirement. The results may

surprise you. For example, the effects of 10 years of inflation means you will need

Rs. 255,256 (approximately) to meet those same expenses!

The graph demonstrates the reducing purchasing power of Rs. 1 0 , 0 0 0

after some years.

Why Plan Early?

35

"Retirement, that's 20 years from now. Why should I think about it now?"

I s n ' t that the standard answer that we all give when asked about retirement planning.

However, to b u i l d a healthy

retirement kitty, it is necessary to

start planning early, as evident in

the example below

As can be seen the

cost of delaying is high. Situation

A is when you are saving Rs

10000 annually from the age o f

2 5 t o 3 4 y e a r s a n d Situation B is when you save the same annual amount from the

age of 35 to 59 years. As can be seen in the example, even after investing your

money for a 2 . 5 times longer duration, the maturity value in the second case is

much lesser (the figures are based on a hypothetical interest rate of 10%). The longer

your money is allowed to grow at a compounded rate, the more dramatic will the

difference be eventually.

InvestShieid Pension:

A regular premium unit-linked pension plan with an assurance of Capital

Guarantee #. A flexible pension plan to secure your retirement years.

36

F l e x i b i l i t y to choose a level of protection (Sum Assured), based on a

m u l t i p l e of the annual premium and term. Zero Sum Assured can a l s o be chosen. You

can choose the term of the plan.

At the end of the term, the higher of the value of units or the guaranteed value*

is used to purchase an annuity (pension). On death, Sum Assured ( i f chosen)

along with the higher of value of u n i t s or the guarantee value is used to purchase

an annuity or can be taken as lump sum, by the nominee.

Additional credits payable as a percentage of the i n i t i a l annual premium

are paid along with the death benefit or at vesting (Retirement date).

F l e x i b i l i t y to choose from amongst 5 different annuity options at vesting

(Retirement date).

Flexibility to make additional investment with the help of the top-up

facility.

Flexibility to increase / decrease your annual premium amount

F a c i l i t y of Automatic Premium Payment- With t h i s facility you can take

a temporary break from premium payment. **

Total transparency w i t h the premium allocations, and other charges

declared upfront.

The guaranteed value of the unit fund is the value of a l l invested

premiums (premiums net of a l l charges) along with the declared bonus

interests.

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** With Automatic Premium Payment facility, you can avail a temporary break

from premium payment for a maximum of 1 year. This facility is available once if

the premium paying term is less than 15 years and twice, if it is 15 years or more.

# The capital guarantee is applicable only on the invested premium and the

declared bonus interests.

You can also enhance your policy by adding Accident & D i s a b i l i t y Benefit

Rider and Waiver of Premium Rider.

38

GROUP SOLUTIONS

In an era of competitive parity, the only asset that makes a decisive

difference between corporate success and failure is the quali ty of human

capital . Employee benefits have proven to be an excellent tool to optimize the

retention of talent and improve an organization's bottom-line. The q u a l i t y of an

organization's employee benefits establishes and maintains a company's image as

a c a r i n g employer. Optimum care of employees is a long-term investment that

results in a sustained competitive advantage for an organization in the times to

come.

ICICI Pru Group Solutions Advantage:

An integrated basket of employee benefits solutions that

offer

incomparable flexible benefits.

Sound investment management that focuses on safety, s t ab i l i t y and

profitability of the portfolio.

Personalized financial planning for your employee that takes care of

his/her changing financial needs at every stage of life.

Quality service initiatives and transparency across a l l operations,

promising superlative operational efficiency.

Group Term Assurance:

39

ICIC1 Pru's f lexible group term solution h e l p s provide affordable

cover to members of a group. The cover could be uniform or based on

designation/rank or a multiple of salary, and can be extended to a l l

employees between the ages of 18 and 65 years. The benefit under the

policy is paid on the event of the member's death to the beneficiary

nominated by the member. It is a one-year renewable p o l i c y where one

master p o l i c y covers a l l proposed employees comprising the group,

with a minimum group s i z e of 25 persons. New members can j o i n the

group and outgoing members can leave the group at any point during

the policy term.

Highlights include:

Greater convenience for the employees with relaxed underwriting and

medical requirements.

"Free Cover Limits" with simplified underwriting depending upon the

number of employees in the group and the level of cover chosen.

Guaranteed benefit: On death during the term of the contract ( w h i l e

in

service), the sum assured will be paid to the beneficiary of the employee.

Choice of additional coverage in form an Accident and D i s a b i l i t y

Benefit Rider and Critical I l l n e s s Cover

Premium is viewed as a business expense in the year of payment.

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Group Gratuity Plan:

ICIC1 Pru's group gratuity plan helps employers fund t h e i r gratuity

obligation in a scientific manner. Employers can avail of the tax benefits as

applicable to approved gratuity funds. The plan can also be customized to

structure schemes that can provide benefits beyond the statutory obligations.

Highlights include:

Wider choice of investments with Market Linked Plans - to meet the

diverse financial goals. We offer 4 investment options (short-term debt, debt and

balanced and capital guarantee plan) where investments w i l l b e made in

accordance with the fund objectives.

Transparency through Daily d i s c l o s u r e of Unit Value and regular

d i s c l o s u r e of the portfolio of each of the investment option

Flexibility through switching and contribution redirection option to

enable reshuffling of portfolio

Bundled Life Cover greater value to the employee by packaging life

insurance cover with the gratuity, with minimal amount of underwriting.

Actuarial services to provide a scientific estimation of the gratuity

liability.

Low explicit charge structure with the conditions for exit specified

upfront.

Enhanced service levels through faster c l a i m settlement, easier access

to information and regular statements.

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Complete end to end solution in the legal and regulatory approval

process for scheme set up or transfer

Employee Benefits:

The contribution made by the employer is not included in the value of

taxable perquisites in the hands of the employee. Gratuity received up to

Rs 350000 is exempt from Income tax under Sec

10(10)

Annual contribution up to 8.33% of salary bill in a financial year is

allowed a deduction for the purpose of computation of profits and gains

of business.

Contribution towards past service l i a b i l i t y is allowed as deduction as

per the Income Tax rules.

Group Superannuation Plan:

ICICI P r u ' s Superannuation Scheme (for both Defined Benefit and Defined

Contribution funds) offers substantial benefits to both employers and

employees. The employer and employee c a n avail of tax benefits applicable to an

approved superannuation trust. The scheme will provide for a retirement

fund for each participating employee. An employee would be able to

choose from various annuity options or opt for par t ia l commutation of

corpus at retirement.

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Highlights include:

Wider choice of investments with Market Linked Plans - to

meet the

diverse financial goals. We offer 5 investment options (short-term

debt,

debt, balanced, growth and capital guarantee plan)

where

investments will be made in accordance with the fund objectives.

Control - Each member/employer can exercise greater control

over

investments by choosing one or more of the investment options.

Multiple Annuity Options - 5 annuity options and open market

option.

Transparency - Transparency through Daily disclosure of Unit

Value and regular disclosure of the portfolio of each of the

investment option

Flexibility - Flexibility through switching and contribution

redirection option to enable reshuffling of portfolio

Low explicit charge structure with conditions for exit

specified upfront.

Enhanced service levels through faster c l a i m settlement, easier

access to information and regular statements.

Complete end to end solution in the legal and regulatory

43

approval process for scheme set up or transfer

RURAL PLANS

ICICI Pru Life Rural Products are designed to meet the needs of

the rural consumers. These products offer the following features:

1. Low and Affordable Premiums

2. Life Cover

3. Savings Option

4. Hassle free procedure

ICICI Prudential offers 2 s p e c i a l l y designed rural plans.

ICICI Pru Mitr - Endowment Plan:

ICICI Pru Mitr offers the following features:

Life Cover and Savings

Regular Premiums

Age at entry 1 8 - 4 5 Yrs

Premium Mode Half Yearly / Yearly

Term 5,10,15 Yrs

Sum Assured Rs.5,000 -20,000

Premium / Year Rs. 507 - 553 ( SA: Rs. 10,000)

Maturity/Death benefit Sum Assured

44

ICICI Pru Suraksha - Regular Premium:

ICICI Pru Suraksha is a regular premium policy with the following

features:

Individual policy

Only Life cover

Term - 3 & 5 Yrs

Age independent premium

Age at entry 1 8 - 4 5 Yrs

Sum Assured Single

Premium / Year Rs 50 – 200

Maturity/Death benefit Rs.5,000 - 20,000

Death Benefit Sum Assured

PLANS FOR NRI

NRI Plans:

Being away from India doesn't mean you have to compromise the safety

and security of your loved ones. In fact, your savings from your time overseas

can be easily chanalized to meet your family's needs - now and in the future. So,

whether i t s your dream to r e t i r e in your hometown; to secure funds for your

ch i ld ren ' s ; education; or to b u i l d assets, ICICI Prudential has a range of

solutions that can be customized to meet your needs.

45

KEYMAN INSURANCE PLA NS

A keyman is an individual who directly affects the

profitability and the continuity of a business and whose absence may have

an adverse effect on the health and continuity of the business. Keyman

insurance is a life insurance policy taken by the company on the life of

such a key person .

The objective of the keyman insurance is to provide the company

with money so that the financial losses to the company can be protected, in

absence of the keyman. The aim is to indemnify the company of these losses

and to allow business continuity.

All premiums paid for securing a key man life insurance policy are

treated as business expenditure u/s 37 (1). Our Lifeguard plan is

ideally suited for the purpose of key man insurance.

46

RIDERS

ICICI Prudential gives you the freedom to form your very own

comprehensive insurance policy by adding the rider benefits to the basic l i f e

insurance policy. Add from the following l i s t of benefits to increase the

scope of your policy, at a nominal cost.

Critical Illness Rider

Major Surgical Assistance Rider

Accident & Disability Benefit Rider

Accident Benefit Rider

Income Benefit Rider

Waiver of Premium Rider (WOP)

Critical Illness Benefit Rider:

This rider provides protection against 9 critical illnesses, namely: Major organ

transplants, complete renal failure, Stroke, Paralysis, Heart attack, Valve

replacement surgery, Major surgery of the aorta, CAGS (Bypass) and Cancer.

47

Benefits paid on contracting the illness:

Accelerated benefits (available with Save n' Protect and Cash Back):

If the policyholder is diagnosed with any of the specified i l l n e s s e s ,

then the policyholder is paid the entire sum assured under the rider.

The policy along with a l l the riders (to the extent of the Rider Sum

Assured) is then terminated. However, the remainder of the base p o l i c y

continues t i l l the end of the term. The policyholder will have to

continue paying h i s premiums for the remainder of the policy.

Accelerated benefits (available with Secure Plus, Cash Plus

and

Secure Plus Pension): If the policyholder is diagnosed with any of

the

specified i l l n e s s e s , then the policyholder is paid the entire sum assured

under the r i d e r . The l i f e cover along with a l l the riders is then

terminated.

However, the policy value accumulation continues till the end of the

term or death, whichever is earlier.

Standalone benefits (available with Premier Life, LifeTime, LifeTime

II, Forever Life, Group Term Plan, Invest Shield Life, Invest

Shield

Cash and Invest Shield Gold): If the policyholder is diagnosed with any

of the specified illnesses, he/she is paid the rider Sum Assured and the

48

rider terminates. However, the base policy continues t i l l maturity.

o Premiums paid under t h i s rider are e l i g i b l e for tax benefits under

Section 80D.

Major Surgical Assistance Rider:

o This r i d e r provides assistance to the policyholder against 43

surgical procedures. These surgical procedures are d i v i d e d i n t o 3 categories and

the extent of assistance provided depends on the type of procedure.

Major procedures - 50% of the rider sum assured is paid.

Intermediate procedures - 30% of the r i d e r sum assured is paid

Minor procedures - 20% of the rider sum assured is paid

o T h i s benefit is payable on more than one occasion when the l i f e

assured undergoes surgery. However the total benefit payable in

case of a l l the procedures is restricted to a maximum of 50% of the

sum assured.

o Major Surgical Assistance rider is available with Save n' Protect,

Cash back, LifeTime, Lifetime I I , Forever Life, Secure Plus,

Cash Plus and Secure Plus Pension.

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o Premiums paid under t h i s r ider are e l i g i b l e for tax benefits

under Sect ion 80D.

o Accident & Disability Benefit Rider:

o Benefits payable on death due to an accident

If the policyholder d i e s due to an accident, 100% of the rider sum

assured is paid in addition to the basic sum assured.

In case the policyholder dies in a land surface, mass public transport

system wherein the policyholder was traveling as a fare-paying

passenger, then 200% of the rider sum assured is paid.

Benefits payable in case of permanent d i s a b i l i t y due to an accident

If the policyholder survives an accident but becomes permanently

disabled then the premium for the basic plan is completely waived off to

the extent of the rider sum assured.

Plus, 10% of the rider sum assured is paid for the next 10 years, which

helps in providing that extra money and takes care of sudden financial

set back that occurs after a tragic d i s a b i l i t y .

Accident & Disability Benefit rider is available with Save n' Protect, Cash

back, Smart Kid Child Plans, Premier Life, LifeTime, LifeTime I I , LifeTime

50

Pension II , Forever Life, Secure Plus, Cash Plus, Secure Plus Pension, LifeGuard

ROP

LifeGuard WROP, GroupTermPlan, Invest Shield Life, Invest Shield

Cash, Invest Shield Gold and Invest Shield Pension. In case of Lifetime I I ,

Lifetime Pension I I , Secure Plus, Cash Plus, LifeGuard ROP and LifeGuard

WROP, the waiver of premium benefit is not available.

Premiums; paid under t h i s rider are e l i g i b l e for tax benefits under

Section 88. Accident Benefit Rider:

If the policyholder dies due to an accident, 1 00 % of the rider sum assured

is paid in addition to the basic sum assured.

Accident Benefit rider is available with Save n'Protect, CashBak, SmartKid

regular premium, Forever Life, Secure Plus, Cash Plus and Secure Plus Pension.

Premiums paid under this rider are eligible for tax benefits under Section

88. Income Benefit Rider:

In case of death of the life assured during; the term of the policy, 10% of

the r ider sum assured is paid annually to the beneficiary, on each pol icy

anniversary till maturity of the rider.

Income Benefit rider is available with Smart Kid Child Plans, Secure Plus

and Cash Plus.

51

Premiums paid under this rider are eligible for tax benefits under Section

88.

Waiver of Premium Rider (WOP):

On total and permanent d i s a b i l i t y due to an accident, a l l future

premiums for both the base policy and rider(s) will be waived t i l l the end of

the term of the rider or death of the life assured, if e a r l i e r . Waiver of P remium

r ide r i s ava i l ab le wi th Secure P lus , Cash P lus , L i feGuard ROP,

LifeGuard WROP, Smart Kid Unit- l inked regular premium 11, Lifetime I I ,

LifeTime Pension II , Secure Plus Pension, Invest Shield Life, Invest Shield

Cash and I n v e s t S h i e l d Pension.

Premiums paid under this rider are eligible for tax benefits under

Section 88.

52

53

WHAT IS INSURANCE

Insurance, in law and economics, is a form of risk management primarily used

to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of

the risk of a loss, from one entity to another, in exchange for a premium. Insurer, in

economics, is the company that sells the insurance. Insurance rate is a factor used to

determine the amount, called the premium, to be charged for a certain amount of insurance

coverage. Risk management, the practice of appraising and controlling risk, has evolved as a

discrete field of study and practice.

Insurance, legal contract that protects people from the financial costs that

result from the loss of life, loss of health, lawsuits or property damage. Insurance provides a

means for individuals and societies to cope with some of the risks faced in everyday life.

People purchase contracts of insurance, called policies, from a variety of insurance

organizations.

Almost everyone living in modern, industrialized countries buys insurance.

For instance, laws in most states require people who own a car to buy insurance before

driving it on public roads. Lenders require anyone who finances the purchase of a home or

car with borrowed money to insure that property. Business partners take out life insurance on

each other to make sure the business will succeed even if one of the partners dies.

The business of insurance is related to the protection of economic values of

assets. Every asset has a value the asset would have been created through the efforts of the

owner. The asset is valuable to the owner, because he expects to get some benefits from it.

54

The benefits may be an income or something else. It is a benefit because it meets some of his

needs. In the case of a factory or a cow, the product generated by is sold and income is

generated. In the case of the motor car, it provides comfort and convenience in transportation.

There is no direct income.

Every asset is expected to last for a certain period of time during which it will

perform. After that, the benefit may not be available. There is a life - time for a machine in a

factory or a cow or a motor car. None of them will last for ever. The owner is aware of this

and he can so manage his affairs that by the end of that period or life – time, a substitutes is

made available. Thus, he makes sure that the value or income is not lost. However, the asset

may get lost earlier. An accident or some other unfortunate event may destroy it or make it

non – functional. In that case, the owner and those deriving benefits there from, would be

deprived of the benefit and the planned substitute would not have been ready. There is an

adverse or unpleasant situation. Insurance is a mechanism that helps to reduce the effect of

such adverse situations

Types of insurance companies

Insurance companies may be classified as

Life insurance companies, which sell life insurance, annuities and pensions

products.

Non-life or general insurance companies, which sell other types of insurance

55

BRIEF HISTORY OF INSURANCE

The Business Of Insurance Started With Marine Business. Traders, who used To

Gather in the Lloyd’s Coffee House in LAGREED to Share the Losses to Their Goods While

Being Carried by the Ships,. The Losses Used To Occur Because Of Pirates Who Robbed On

The High Seas Or Because Of Bad Weather Spoiling The Goods Or Sinking The Ship. The

First Insurance Policy Was Issued In 1583 In England.

The Indian Insurance Market Has A Grand History. The development Of Insurance

Dates Back To The 19th Century When The Europeans Started The Oriental Life Insurance

Company, Kolkata In 1888. The First Indian Insurance Company Bombay Mutual Life

Insurance Come In To Existence In 1870 To Cover Indian Lives At Normal Rates. The year

1870 Is Also Important In The Sense That The British Government Enacted For The First

Time Act That Year. Four Years Later Feroz Shah Mehta One Of The Doyen Of Indian

Financial Sector, Oriental Government Established The Oriental Government Security Life

Assurance Company And After That, Many Insurance Companies In Surfaced Life On Indian

Soil. However, The First Indian Insurance Act Was Passed On 1912, Again In 1938 And An

Amendment In 1950, When It Was Nationalized However The Sector Was Once Again

Thrown Open To The Private Sector In December 1999 Followed By The Establishment Of

IRDA (Insurance Regulatory And Development Authority) In April 2000.

The Indian Insurance Industry Was Dominated By Two States Insures I.E. The Life

Insurance Corporation In Life Insurance And The General Insurance Corporation In General

Insurance Before 2000 Which Were Created After The Nationalization Of The Life And

Non-Life Sector In 1956 And 1972 Respectively. In Dec’99, The IDRA Act Was Passed

56

Which Limited Foreign Investors To A 26% Cap On Equity Articipation, And Minimum

Capital Requirement Of $20 Million. At Present, More Then 12 Private players Are in the

Market and Some Are Still in the Pipeline. The Advent Of The New Kids Poses To LIC To

Somewhat Extent, For Which LIC Will Have To Change Its Current Policies Regarding

Marketing And Product Management.

57

NEED OF INSURANCE

LIFE STAGES

Insurance need will change as your life does, from starting to work to enjoying your

golden years and all the stages in between. Each one of these stages may pose a different

insurance need/cover for you. In this section, we have drawn up the basic life stages and help

you analyze various insurance needs accordingly

STAGE 1

YOUNG AND SINGLE

An important stage where one lays down the foundation of a successful life ahead.

Take advantage of the time and power of compounding to ensure that you build up your

dreams. Start saving early.

58

Your needs

Save for a home and wedding s

Tax Planning

Save for Golden years

STAGE 2

JUST MARRIED

Marriage brings about a significant change. New dreams and new opportunities also

bring in additional responsibilities. While both of you look forward to a happy and secure life

, it is equally important to ensure that eventualities don’t come in the way of shaping your

dreams.

Your needs

Planning for home / securing your home loan liability

Save for vacation

Save for your first child

STAGE 3

PROUD PARENTS

Once you have children, your need for life insurance is even more. You need to

protect your family from an untoward incident. Ensure your protection umbrella takes into

59

account the future cost of securing your child’s dream. You will want life to go on for your

loved ones, and having enough life insurance is a way to help ensure that.

Your needs

Provide for children’s education

Safeguarding family against loan liabilities

Savings for post-retirement

STAGE 4

PLANNING FOR RETIREMENT

While you are busy climbing the ladder of success today, it is important for you to

take time and plan for your life after retirement. Having an early start for retirement planning

can make a significant difference to your savings. Think about your golden years even before

you have reached them. The key is to think ahead and plan well using your time and money.

Your needs

Provide for regular income post retirement

Immediate Tax benefits

Lead a secure, independent and comfortable life style in your retirement years

60

REASONS AND IMPORTANCE OF INSURANCE

REASONS FOR INSURANCE

In Life, Losses Are Sometimes Unavoidable. People May Become Ill And Lose

Income Or Savings To Pay Off Medical Bills. Individuals Or Their Relatives May Die Of

Illness Or Accidents. People's Homes Or Other Property May Suffer Damage Or Theft.

People Also May Accidentally Cause Injury To Others Or Damage To The Property Of

Others.

No One Knows In Advance When A Loss Will Occur Or How Serious That Loss

Will Be. The Uncertainty Surrounding Potential Losses Is Known As Risk. Insurance

Offers A Way for People to Replace Risk with Known Costs-The Costs of Buying and

Maintaining Insurance Policies.

Assume A Person Buys A New Car For Rs 4 Lakh. Its Owner Faces The

Possibility That, At Some Point, The Car Will Suffer Damage In An Accident. But How

Could The Owner Budget In Advance For A Loss Of Unknown Cost? The Cost To Repair

Or Replace The Car In The Event Of An Accident Could Range From The Price Of A

Bottle Of Touch-Up Paint To As Much As Rs.4 Lakh. If The Accident Injures Someone,

The Costs Of Medical Care Could Be Much Higher. Through The Mechanism Of

Insurance, However, The Car Owner Can Share The Risk Of An Accident With Others

Who Face The Same Risk.

61

Insurance Pools or Combines Risks Shared By Many People, Thereby Reducing

The Risks Faced By A Group. People Pay To Buy Insurance Coverage (Protection From

Risk).In Exchange, A11 Policy-holders (People Who Own Insurance Policies) Receive

/Promise That The Group Of Policyholders-As Represented By The Insurance

Organization-Will Pay When Any Policyholder Experiences A Covered Loss.

Insurers Distinguish Between Two Types Of Risk: Speculative Risk And Pure

Risk. Speculative Risk Offers Both The Potential For Gain And The Potential For Loss.

People Who Invest In The Stock Of Companies, For Example, Take Speculative Risk. An

Increase In Stock Prices Produces A Gain, While A Decline In Stock Prices Produces A

Loss. Pure Risk, By Contrast, Creates The Potential Only For Loss. Although Pure Risks

Do Not Necessarily Result In Losses, They Never Result In Gains.

Historically insurance Dealt Only with Pure Risks, And Most People Still Buy

Insurance To Cover Pure Risks. No One, For Instance, Experiences A Gain When They

Go A Full Year Without An Auto Accident. However, Some Insurance Companies Now

Help Businesses Finance Large Losses Including Those Incurred On Speculative Risks,

Such As The International Exchange Of Currency. Also, In the 1990s Financial Markets

And Some Professions Outside Insurance. Such As The Field Of Environmental Impact

And Damage Assessment, Began To Expand Into Risk Management: For The First Time.

62

THE IMPORTANCE OF INSURANCE

Insurance benefits society by allowing individuals to share the risks faced by many

people. But it also serves many other important economic and societal functions. Because

insurance is available and affordable, banks can make loans with the assurance that the loan's

collateral (property that can be taken as a payment if a loan goes unpaid) is covered against

damage. This increased availability of credit helps people buy homes and cars. Insurance also

provides the capital that communities need to quickly rebuild and recover economically from

natural disasters, such as tornado or hurricanes.

Insurance it has become a significant economic force in most industrialized

countries. Employers buy insurance to cover their employees against work-related injuries

and health problems. Businesses also insure their property, including technology used in

production, against damage and theft. Because it makes business operations safer nsurance

encourages businesses to make economic transactions which benefits the economies of

countries. In addition, millions of people work for insurance companies and related

businesses.

Insurance companies perform a type of monetary redistribution-they collect

premiums and eventually redistribute that money as payments. Depending on the type of

insurance, redistribution can take anywhere from a few months to many decades. Because

of this delay between collecting and paying out funds, insurance companies invest their

funds to firing ton extra revenues. Such investments help businesses and governments

finance their operations, and profits from those investments support the operations of

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insurance companies. With these investment earnings, insurance companies can keep rates

much lower than would otherwise be possible.

How Insurance Works

The mechanism of insurance is very simple. People who are exposed to the same

risks come together and agree that, if any one of them suffers a loss, the others will share the

loss and make good to the person who lost. All people who send goods by ship are exposed

to the same risks, which are related to water damage, ship sinking, piracy, etc. Those owing

factories are not exposed to these risks, but they are exposed to different kinds of risks like,

fire, hailstorms, earthquakes, lightning, burglary, etc. Like this, different kinds of risks can

be identified and separate groups made, including those exposed to such risks. By this

method. The heavy loss that any one of them may suffer (all of them may not suffer such

losses at the same time) is divided into bearable small losses by all. In other words, the risk

is spread among the community and the likely big impact on one is reduced to smaller

manageable impacts on all.

If a jumbo jet with more than 350 passenger’s crashes, the loss would run into

several cores rupees. No airline would be able to bear such a loss. It is unlikely that many

jumbo jets will crash at the same time. If 100 airline companies flying jumbo jets, come

together into an insurance pool, whenever one of the jumbo jets in the pool crashes, the loss

to be borne by each airline would come down to a few lakes of rupees. Thus, insurance is a

business of 'sharing'.

There are certain principles, which make it possible for insurance to remain a fair

arrangement. The first is that it is difficult for any one individual to bear the consequences

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of the risks that he is exposed to. It will become bearable when the community shares the

burden. The second is that the peril should occur in an accidental manner. Nobody should be

in a position to make the risk happen. In other words, none in the group should set fire to his

assets and ask others to share the costs of damage. This would be; taking unfair advantage of

an arrangement put into place to protect people from the risks they are exposed to. The

occurrence has to be random, accidental, and not the deliberate creation of the insured

person.

The manner in which the loss is to be shared can be determined before-hand. It may

be proportional to the risk that each person is exposed to. This would be indicative of the

benefit he would receive if the peril befell him. The share could be collected from the

members after the loss has occurred or the likely shares may be collected in advance, at the

time of admission to the group. Insurance companies collect in advance and create a fund,

from which the losses are paid,

The collection to be made from each person in advance determined on assumptions.

While it may not be possible to tell beforehand, which person will suffer, it may be possible

to tell, on the basis of past experiences, how many persons, on an average, may suffer losses.

The following examples explain the concept of insurance.

Example-1

In a village, there are 400 houses, each valued at rs.20, 000. Every

year, on the average, 4 houses get burnt, resulting into a total loss of Rs.80, 000.If all the

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400 owners come together and contribute rs.200 each, the common fund would be

rs.80,000.This is enough to pay rs.20,000 to each of the 4 owners whose houses got burnt.

Thus, the risk of 4 owners is spread over 400 houses -owners of the village.

Example-2

There are 1000 persons who are all aged 50 and are healthy. It is

expected that of these, 10 persons may die during the year. If the economic value of the loss

suffered by the family of each dying person is taken to be rs.20, 000, the total loss would

work out to rs.2, 00,000/-. If each person in the group contributed Rs. 200/- a year. The

common fund would be Rs. 2, 00,000/-.this would be enough to pay rs.20, 000 to the family

of each of the ten persons who die. Thus, the risks in the case of 10 persons are shared by

1000 persons.

WHY LIFE INSURANCE

Life Insurance has come a long way from the earlier days when it was originally

conceived as a risk covering medium for short periods of time, covering temporary risk

situations, such as sea voyages. As life insurance became more established, it was realized

what a useful tool it was for a number of situations, including-

A) TEMPORARY NEEDS/THREATS:

The original purpose of life insurance remains an important element, namely

providing for replacement of income on death etc.

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B) REGULAR SAVINGS:

Providing for one's family and oneself, as a medium to long term exercise (through a

series of regular payments of premiums). This has become more relevant in recent times as

people financial independence for their family.

C) INVESTMENTS:

Put simply, the building up of savings while safeguarding it from the ravages of

inflation. Unlike regular saving products, investment products are traditionally lump sum

investments, where the individual makes: a one off payment.

D) RETIREMENT:

Provision For Later Years Become Increasingly Necessary, Especially In AChanging

Cultural And Social Environment. One Can Buy A Suitable InsurancPolicy, Which Will

Provide Periodical Payments In One's Old Age.

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PRIVATIZATION OF INSURANCE

The Indian Insurance Sector Has Finally Opened Up And Its With Much

Anticipation That New Players Are Awaiting Their Share Of Market. License Have Been

Issued To Both Indian And Foreign Players-Reliance, HDFC -Standard Life, Max India-

New York, Royal Sundaram Alliance, ICICI Prudential, IFFCO-Tokyo Marine, Bajaj

Allianz, Birla Sun life, Tata AIG, AVIVA Life Insurance, SBI Life, Om Kotak Mahindra

Are Some Of The Entrants Into The Newly Liberalized Indian Insurance Market. ICICI

Prudential and HDFC-Standard Life Have Issued Their Life Policies-The First From The

Private Sector After 45 Years.

The First Move For The Liberalization Came With The Malhotra Committee Report

In 1993 Which Recommended The Privatization Of Insurance, Setting Of An Insurance

Regulatory Authority And Restructuring The Government Monopoly LIC And GIC And Its

Subsidiaries. IRDA Act Passed In November 1999 Had Set Ball Rolling For The Entry Of

Private Players In Domestic Sector.

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BLUE PRINT OF SERVICE DELIVERY OF AN INSURANCE

PLAN THROUGH AN ADVISOR

Tells about co. & its various plans

Type of service delivered

Enter Phone

Seat agentShows brochures / catalog

Make understand about maturity and funds growth

Select plan

Complete the documentation

Line of visibility for phone customer

Offers waterLine of visibility for visiting customer at home or at office Prepare tea

Deliver tea

Premium payment

Holding bin

Premium payment

Receipt

Contact

Customer

Support

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INFORMATION TECHNOLOGY AND INSURANCE

In the insurance industry today, there is a clear trend away from selling a

broad range of products to a large volume of customers in a one -size-fits-all manners.

Instead of focusing on their different products lines as silos (i.e., life, property and casualty

etc) insurers are looking for ways to offer highly targeted insurance products that are

tailored to the individuals customers with the highest propensity to buy them. There is an

evolutionary change in the technology that has revolutionized the entire insurance sector.

Insurance industry is a data-rich industry, and thus, there is dire need to use the data for

trend analysis and personalization.

With increased competition among insurers, service has become a key

issue. Moreover, customers are getting increasingly sophisticated and tech-savvy. People

today don't want to accept the current value propositions, they want personalized

interactions and they look for more and more: features and add ones and better service the

insurance companies today must meet the; need of the hour for more and more personalized

approach for handling the customer. Today managing the customer intelligently is very

critical for the insurer especially in the very competitive environment. Companies need

to apply different set of rules and treatment strategies to different customer segments.

However, to personalize interactions, insurers are required to capture customer information

in an integrated system. With the explosion of website and greater access to direct

product or policy information, there is a need to developing better techniques to give

customers a truly personalized experience. Personalization helps organizations to reach

their customers with more impact and to generate new revenue through cross selling and

up selling activities. To ensure that the customers are receiving personalized information,

many organizations are incorporating knowledge database-repositories of content that

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typically include a search engine and lets the customers locate the all document and

information related to their queries of request for services, customers can hereby use the

knowledge database to mange their products or the company information and invoices,

claim records, and histories of the service inquiry. These products also may be able to learn

from the customer's previous knowledge database and. To use their information when

determining the relevance to the customers search request.

The insurance sector remains a very competitive market and those companies

that are able to best utilize their data and provide their customer with the most

personalized options will have the distinct competitive advantage. The insurers that come

up to the top will be those who leverage the appropriate technology solutions effectively

in order to foster customer loyalty, attract new customers and improve operational efficiency

by providing common information across their lines of business.

MAJOR COMPETITORS OF ICICI PRUDENTIAL

LIFE INSURANCE COMPANY LIMITED

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1. LIFE Insurance Corporation

2. HDFC Standard life insurance co. ltd

3. Birla Sun life insurance co ltd

4. Allianz bajaj life insurance co ltd

5. Tata AIG life insurance co ltd

6. Max New York Life insurance co ltd

7. Om Kotak Mahindra Life Insurance Co Ltd.

8. Aviva Life Insurance Co Ltd

9. ING Vysya Life Insurance Co Ltd

10. SBI Life Insurance Co Ltd

11. MetLife India Insurance Co. Ltd.

12. AMP Sanmar life insurance co ltd

13. Dabur - CGU Life Insurance Co. Ltd.

LIST OF PRIVATE COMPANIES IN LIFE INSURANCE

Private Life I nsurance Company % of Foreign Equity Name of the foreign partner

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1 Allianz Bajaj Life Insurance 26 Allianz Co. Ltd.

2 Birla Sun Life Insurance 26 Sun Life Co. Ltd.

3 HDFC Standard Life Insurance 18.60 Standard Life Co. Ltd.

4 ICICI Prudential Life Insurance 26 Prudential Co. Ltd.

5 ING Vysya Life Insurance co.Ltd 26 ING Co. Ltd.

6 Max New York Life Insurance 26 New York Life Co. Ltd.

7 MetLife India Insurance 25.99 MetLife Co. Ltd.

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Private Life I nsurance Company % of Foreign Equity Name of the foreign partner

8 Om Kotak Mahindra Life 26 Old Mutual

Insurance Co. Ltd.

9 SBI Life Insurance Co. Ltd. 26 Cardiff

10 Tata-AIG Life Insurance 26 AIG Co. Ltd.

11 AMP Sanmar Life Insurance 26 Sanmar Life Insurance.Co.Ltd.

12 Dabur-CGU Life Insurance 26 CGU Life Assurance Co. Ltd.

3. NAME OF THE PLAYER MARKET SHARE (%)

LIC 82.30ICICI PRUDENTIAL 5.63BIRLA SUN LIFE 2.56BAJA ALLIANZ 2.03SBI LIFE 1.80HDFC STANDARD 1.36TATA AIG 1.29MAX NEW YORK 0.90A VIVA 0.79OM KOTAK 0.51MAHINDRAING VYASA 0.37AMP SANMAR 0.26METLIFE 0.21Source: Swissre

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4.TABLE: ICICI PRUDENTIAL LIFE INSURANCE

VALUATION (RS MN)

Share capital 8,250

Reserves 6,581

Shareholder's funds 1,669

New Business Achieved Profit (FY05E) 2,678

Embedded value 4,347

Future profits from future new business 53,558

Appraised value 57,905

ICICI Bank's share 42,850

Per share value for ICICI Bank 58.2

Source: India Info line estimates

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RESEARCH METHODOLOGY

"All progress is born of inquiry. Doubt is often better than overconfidence. For it

leads to invention."

The research undertaken aims to understand the research methodology

establishing the framework of evaluation and re-evaluation of primary and secondary

research to arrive at findings, which are also dealt with and lead to a logical deduction

towards the analysis and research.

Research Design:

Research design is a set of advance decisions that make up the master plan

specifying the methods and procedure s for collecting and analyzing the needed information.

Research design can be seen as a blue print of research:

What question to study?

What data are relevant?

What data to collect?

How to analyze the result?

In what style will the report be prepared?

Therefore the research design undertaken is:

Descriptive Research:

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Descriptive research, also known as statistical research, describes data and

characteristics about the population or phenomenon being studied.

Descriptive research answers the questions:

Who ,

What ,

Where ,

When ,

How .

The data collected were primary as well as secondary.

Primary Data :

Questionnaire

Secondary Data: a) Company’s website

b) Magazines

c) Books

Structured questions were designed to collect necessary information

from different customers. The questions considered were close ended as well as open ended.

Sampling procedure: In our study we have adopted route of random sampling

because the study did not required any special group of commodity as the respondents.

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Sample size: The sample size for the study was kept at 100. Large sample size is

subjected to many complications and wastage of time & money. This sample size was fair

enough to achieve reliable results for our purpose.

Sample unit: Lucknow

Method of data collection: Questionnaire.

Contact methods: Personal interview

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OBJECTIVES TO THE TOPIC

:

To find preferences of various life insurance companies among the Indian public

and perception about them.

To find the acceptability of ICICI Prudential Life Insurance Company.

To find the customer expectations from life insurance companies.

To generate some business leads.

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82

ANALYSIS AND FINDINGS

QUESTION 3.

PREFERED MODE OF INVESTMENT?

10%

6%

60%

6%

4%

10%4%

FD

MFs

Insurance

NSC

Bonds

ULIP

Debenture

From the above data it can be analyzed that 60 % of the customers are interested in

investing their money in insurance

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QUESTION 4.

IN WHICH TYPE OF INSURANCE YOU WOULD LIKE TO INVEST?

80%

20%

80 % of the customers are like to invest in life insurance because it covers most of the

future risks.

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QUESTION 7:

RATE THE COMPANY ACCORDING TO YOUR PREFERENCE

8

4 3 2

53

1 224

13 4

12 11 2 1

0

5

10

1 2 3 4 5

LIC

ICICI

SBI

BAJAJALLIANZBIRLA SUNLIFE HDFC

It can be seen from the data that most of the customers are preferring LIC and next to

LIC is ICICI so it seems that they are the big shots in the market

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QUESTION 8.

W H I C H P L A N A T T R A C T S Y O U ?

012345

T E R M P O L I C YI N V E S T M E N TP O L I C Y

C H I L D P O L I C YE N D O W M E N TP O L I C Y

M O N E Y B A C KP O L I C Y

P E N S I O N P L A N

1 2

3 4

5

Term policy and money back are rated 1 (which is the most) by most of the customer

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QUESTION 9:

HOW DO YOU COME TO KNOW ABOUT PLAN OR COMPANY?

10%

10%

10%

20%

40%

10%FAMILY

FRIENDS

COLLEAGUE

ADVERTISING

AGENT

INTERNET

It can be seen from the above data that most of the customers came to know about the

plans through agents as they provide all the information they needed and try to satisfy them.

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QUESTION 10.

WHICH MODE AFFECTS THE MOST?

28%

9%

18%9%

9%

27%AGENTS

BROKERS

SELF

TELEMARKETING

INTEREST

CORPORATE AGENTS

Most of the customers are like to invest their money through agents as they are the

representative of company or bank acting as the intermediary between company and bank.

Next in the line are corporate agents.

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QUESTION 11.

PERCENTAGE OF PREFERENCE FOR PRODUCTS OF ICICI PRUDENTIAL

40%

25%

20%

10%5% LIFE TIME SUPER

SMART KID

RETIREMENTSOLUTION

HEALTHSOLUTION

ANY OTHER

The above analysis shows that the most preferred plan of ICICI Prudential is Life

Time Super followed by Smart Kid Education Plan

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QUESTION 12.

FOR WHAT PURPOSE YOU PREFER TO TAKE POLICY?

60%20%

10%10%

LIFE COVERAGE

TAX BENEFIT

MEDICAL BENEFIT

ANY OTHER

As life is valuable for everyone so most of the customers want a secure life so the

purpose is to secure risk related with life. The other reason for choosing life coverage is that

it gives tax benefit.

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QUESTION 13:

MAXIMUM SUM ASSURED PREFERED BY PEOPLE

25%

40%

20%

15% 1 LAKH

1LAKH-2LAKH

2LAKH-4LAKH

ABOVE4LAKH

It is clear from above analysis that most of them are interested in insuring for an

amount of Rs of 1-2 lakhs.

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Question 14.

RATING OF THE SERVICE PROVIDER

02468

10

EX

CE

LL

EN

T

GO

OD

AV

ER

AG

E

PO

OR

LIC

ICICI

SBI

BAJAJ ALLIANZ

BIRLA SUN LIFE

HDFC

According to the plan and services most of the customers rated LIC as the excellent

and good.

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QUESTION 18.

INVESTMENT AS PER INCOME PER ANNOUM

10%

25%

30%

35%upto 1 lakh

1 lakh - 2 lakh

2 lakh-4 lakh

above 4 lakh

Above analysis shows that people like to invest as per their income.

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LIMITATIONS

The market study and finding are applicable to city of Lucknow and near by areas.

The response during the research for investment in life insurance industry was

significantly low (only 8%) and-therefore the implication of the study may also differ

significantly.

The sample size mainly consisted of government employees and medium &lower

income group and these type of respondents are not enough helpful in analyzing the

market share.

One other important limitation of the study was that of time limitation due to which

researcher could not make detailed study.

The sample size was taken only 100; therefore it is difficult to say any thing

concretely.

Most of the respondents were L.I.CS policyholders so that it was not easy to find out

the accurate market share of ICICl Prudential.

Absence of professional researcher and team was another limitation of this study.

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SWOT ANALYSIS

STRENGTH:

Multi-channel distribution and one of the largest distribution networks in

India.

Implementing Six-Sigma process.

Customer centric products and services.

Superior investment and risk management framework.

1 Million Policies sold within 3 and half years.

Company has maximum number of MDRT as well as good number of

HNI advisors.

Training process of the company is very strong.

Different plan for different peoples.

According to the change in surrounding environment like changes in

customer requirement.

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WEAKNESS:

Company does not penetrate on the rural market at a time

There is no plan for the low income group.

Fees for the advisor is high than the other company.

OPPORTUNITY:

Insurance market is very big, where company can expand its horizon in

insurance industry.

Though good investment and insurance it is easy to top Indian customers.

The huge insurance market (77%) is left so company has opportunity to

expand our products.

To associate with the more number of HNI.

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THREATS:

'OLD HABITS DIE HARD' : Its still difficult task to win the confidence

of public towards private company.

The company is facing major threats from LIC - which is an only

government company.

Plan for all income group is not available which can create adverse effect

later on the market share of the company.

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CONCLUSIONS

76% of the Indian prefer LIC then any other insurance companies.

Prevention of loss, assured return and long term investment is the important

factors influencing Indians in opting for life insurance.

Only few of the Indians are aware of private life insurance company.

Most of the Indians are of the opinion that private insurance company would be able

to perform in the long run.

Most of the Indian are interested in Term and Money back policies.

Most of them are interested in insuring for an amount of Rs of 1-2 lakhs.

There is significant relationship existing between annual house hold income and

amount insured.

Based on the monthly house hold income, people prefer to invest their money in

bank deposits, post office schemes, real estate, insurance, mutual funds, shares etc.

Agents are mostly responsible for selling insurance product in India as they are

interface between customer and company.

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RECOMMENDATIONS

It is important to understand the psychology of customers, and why they choose and

what they choose so considering this in mind the service should be provided. In the

service sector the customer involvement is high so the service provider should offer

awareness to the customers what to expect.

To increase the market share the private players should introduce insurance plans for

the lower segment also.

Proper training development programmes should be organized to make the employees

more efficient so that they can provide efficient and customer friendly services.

Major share of the policy holders was lying with Life Insurance Corporation because

people still think that taking policy from LIC is much safer as compared to

private players so there is a need to aware people that the private companies are

providing safe and secure plans

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BIBLIOGRAPHY

Websites:

www.icicipru.com

www .wikipedia.com

www.google.com

Books:

Principles of Marketing – Philip Kotler

Service Marketing – Zeithmal & Bitner

Service Marketing - Kurtz & Clow

Company product profile

Brochures

Pamphlets

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QUESTIONNAIRE

105

“Consumer preference for insurance with special reference to

ICICI Prudential”

Q 1) How members are there in your family?

a) One b) Two

c) Three d) Four

e) More than three

Q2) How many dependents are there in your family?

a) One b) Two

c) Three d) More than three

Q3 What will be your preferred mode of investment?

a) FD b) Mutual fund

c) Insurance d) NSC

e) Bonds f) ULIP

g) Debenture

Q4) In which type of insurance you would like to invest?

a) Life b) General

Q5) How many policies do you have?

a) 1 b) 2

c) 3 d) More than three

Q6) How many policies are there for following?

A) Spouse:

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a) 1 b) 2 c) 3

B) Children:

a) 1 b) 2 c) 3

Q7) Rate the insurance company according to your preference:

(1 for the most and 5 for least)

1 2 3 4 5LICICICI PRUDENTIALSBIBAJAJ ALLIANZBIRLA SUN LIFEHDFC LIFE

Q8) Which plan attracts you? (1 for the most and 5 fore least)

1 2 3 4 5TERM POLICYINVESTMENT POLICYCHILDS POLICYENDOWMENT POLICY

MONEY BACK POLICYPENSION PLAN

Q9) How do you come to know about the plan or the company?

a) Family b) Friends

c) Colleagues d) Advertisement

e) Agent f) Internet

Q10) Which mode you think affects the most?

a) Advisor b) Brokers

c) Self d) Telemarketing

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e) Internet f) Corporate agents

Q 11) Do you have any insurance plan of ICICI Prudential? If yes, specify in which product:

a) Lifetime super b) Smart kid

c) Pension plan d) Health & Care

e) Any other

Q12) For what purpose you prefer to take policy?

a) Life coverage b) Tax benefit

c) Medical claim d) Any other

Q13) What is the maximum sum assured of the policy you have?

a) Up to 1 lakh b) 1lakh to 2 lakh

c) 2 lakh to 4 lakh d) More than 4 lakh

Q14) How do you rate your service provider?

EXCELLENT GOOD AVERAGE POORLICICICI PRUDENTIALSBIBAJAJ ALLIANZBIRLA SUN LIFEHDFC LIFE

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Q15) What can the organization do to increase your satisfaction?

-------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------

Q16) Name: ..................................................................................................................

Q17) Age:

a) 20 – 30 b) 30 – 40 c) 40 – 50 d) Above 50

Q18) Occupation:

a) Businessman b) Govt.Employee c) Student d) Any Other

Q19) Household Income per Annum:

a) Up to Rs.1 Lakh b) Rs.1 Lakh – Rs.2 Lakh

c) Rs.2 Lakh – Rs.5 Lakh d) More than Rs.5 Lakh

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