hdfc standard life health insurance
TRANSCRIPT
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GOOD AFTERNOON
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INSURANCE
It is a system by which the losses suffered
by a few are spread over many, exposed to
similar risks.
The calamity is either natural or unexpected
The insured person does not gain out of this
arrangement.
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DIVISION OF
INSURANCE SECTOR
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WHAT ARE ULIPs?
1.Combination of safety of insurance protection & wealth
creation opportunities.
2.Life cover + investment in funds being opted for.
3.Types: for retirement, for childrens education, for wealth
creation, for health solution.
4.Switching funds without any extra cost.
5.Long term investment.
6.Flexible & transparent.
7.Most ULIPs provide an option to increase or decrease
premium after 3 years.
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HDFC+SLIC
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COMPANY PROFILE
1.Incorporated on 14th August, 2000.
2.Joint venture between Housing Development Finance
Corporation ltd. (HDFC) & Standard Life.
4.Rated AAA by CRISIL and ICRA.
5.Has 27 Lakh policies in force.
6.Offers a bouquet of insurance solutions catering the
needs of both individuals & organizations.
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ULIPs
HDFC unit linked wealth maximiser plus.
HDFC simple life.
HDFC unit linked enhanced life protection.
HDFC unit linked endowment. HDFC unit linked endowment plus.
HDFC unit linked wealth multiplier.
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Unit Linked Wealth
Maximiser Plus
key features No medicals in case of
eligibility, for applyingthrough Short MedicalQuestionnaire (SMQ).
One time investment at thestart of the policy.
Cover till the age of 99years.
Regular loyalty units of0.10% every year as longas the policy is notsurrendered.
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HDFC SIMPLE LIFE
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HDFC SIMPLE LIFE
Minimum annualized
Premium-20,000
Minimum sum assured-
1,00000
Minimum term period-
15 years.
Minimum age at entry-18
Maximum annualized
Premium-1,00000
Maximum sum assured-
5,00000
Maximum term period-
20 years.
Maximum age at entry-45
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CHARGES
* Policy administrative
charges-Rs 60/year
which increases every
year by 5%.
*Mortality charges-the
amount depends onthe
age of the customer.
Revival charges-Rs
250 is charged in case
of revival.
Switching charges-24switches will be free,
then Rs 100 will be
charged for every
switch.
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CHARGES
Allocation rates-
Year 1 - 80%
Year 2- 80%
Year 3- 90%
Year 4+-98%
Surrender charges-
4 annual premiums-95%
3 annual premiums-40%
2 annual premiums-15%
1 annual premium-
5%
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HDFC unit linked
enhanced life protection
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HDFC unit linked
enhanced life protection
Minimum annualized
Premium-12,000.
Sum assured will increase
at 5% every year.
Minimum term period-
10 years.
Maximum term period-
30 years
Minimum age at entry-
18 years.
Maximum age at entry-
45 years. Maximum age at maturity-
75 years.
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CHARGES
Policy administrative
charges-Rs 60/year
which increases every
year by 5%. Mortality charges-
the amount depends
on the age of the
customer.
Revival charges-Rs
250 is charged in case
of revival.
Switching charges-24switches will be free,
then Rs 100 will be
charged for every
switch.
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CHARGES
Single premium top up
allocation charges-
Paid during year 1-
97.5%
Paid during year 2-
97.5%
Paid during year 3+-
98%
Surrender charges-
4 annual premiums-95%
3 annual premiums-35%
2 annual premiums-15%
1 annual premiums-5%
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OVERALL MARKET SHARE
Market share of life insurance companie
54%
15%9% 8%
2% 4%8%
0%10%20%30%40%
50%60%
LIC
ICICIPrudential
BajajAllianz
HDF
CSL
TataAIG
Relianc
elife
Others
Companies
Percenta
ge
LIC
ICICI Prudential
Bajaj Allianz
HDFC SL
Tata AIG
Reliance life
Others
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AMOUNT OF PREMIUM COLLECTED BY
HDFCSL AS COMPARED WITH LICAmount of premium collected by HDFCSL compared with LI
3563
11360
15350
1167 931 707
0100020003000
400050006000700080009000
100001100012000
13000140001500016000
Aug'09 Aug'08 Aug'07
Premium (in crore)
LIC
HDFCSL
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READINESS TO INVEST IN ULIPs
Readiness to invest in ULIP
40%
44%
12%
4%
Yes
No
May be
Dont know
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THREATS
People are hesitant to invest and put their money
to private life insurance companies.
Alternative financial services such as mutual
funds, shares and securities pose problems. Rising real estate industry also pose threat as
people are investing a bulk of their money there.
Tough competition from other players.
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SUGGESTIONS
It should try to sell those plans which the customerrequires & not the plan where advisors benefits arehigher.
Aggressive promotion for ULIPs should be done. Returns from investment should be taken care of.
The company needs more manpower and planningto reach the desired level.
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