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A
SUMMER PROJECT REPORT
ON
“ AN ANALYSIS OF MARKETING STRATEIGES OF RELIANCE
LIFE INSURANCE CO. LTD.”
Submitted by :-
Masoom Raza
Roll no. 8551569
Submitted for partial fulfillment of
Fourth Semester Curriculum Requirement
For the Award of Degree
BACHELOR OF BUSINESS ADMINISTRATION
(SESSION 2007-2010)
SHRI RAM COLLEGE MUZAFFARNAGAR
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ACKNOWLEDGEMENT
I was privileged to be associated with a reputed group, a company and a Brand, global presence. II was privileged to be associated with a reputed group, a company and a Brand, global presence. I
would like to express immense gratitude to RELIANCE LIFE INSURANCE CO. LTD. for would like to express immense gratitude to RELIANCE LIFE INSURANCE CO. LTD. for
providing me an opportunity to complete my summer internship. I would like to express immense providing me an opportunity to complete my summer internship. I would like to express immense
gratitude to RELIANCE LIFE INSURANCE CO. LTD. for providing me an opportunity togratitude to RELIANCE LIFE INSURANCE CO. LTD. for providing me an opportunity to
complete my summer internship.complete my summer internship.
I would like to extend deep sense of gratitude to Mr. Anil Kumar Gupta (Territory manager), WhoI would like to extend deep sense of gratitude to Mr. Anil Kumar Gupta (Territory manager), Who
guided me with his experience and knowledge throughout my endeavors to do quality work.guided me with his experience and knowledge throughout my endeavors to do quality work.
I would hereby, make most of the opportunity by expressing my sincerest thanks
to Mr. B.K TYAGI (principal sir) for providing me the information. I express my gratitude to Mr. SOURABH MITTAL (HOD) who provided me with thewho provided me with the
important inputs and suggestions.important inputs and suggestions.
I would like to extend deep sense of gratitude to Ms. SWATI UPADHAYAYA (project director)I would like to extend deep sense of gratitude to Ms. SWATI UPADHAYAYA (project director)
who teachings gave me conceptual understanding and clarity of comprehension, which
ultimately made my job more easy.
I would also like to thank all the faculty members who provided me with the importantI would also like to thank all the faculty members who provided me with the important
inputs and suggestions.inputs and suggestions.
Masoom Raza
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BBA 5th sem.
PREFACEPREFACE
I, Masoom Raza, being a student of BBA, of SHRI RAM COLLEGE
MUZAFFARNAGAR
The project title “AN ANALYSIS OFMARKETING STRATEGIES OF RELIANCE LIFE
INSURANCE CO. LTD. ” is the analysis of the big scale sector of communication. This project
The survey was conducted so as to analyze the marketing strategies of reliance life insurance big
scale sector prevailing in the current industry
Market research study has been conducted in order to bring out the picture of big scale
sector that exists in this industry. The differences in service quality that exists in the
market.
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TABLE OF CONTENTS
PART 1 1-75
• ABOUT RELIANCE LIFE INSURANCE 1
• HISTORY OF RELIANCE INS. 7
• PRODUCTS & SERVISES OF RELIANCE INS. 17
PART 2 76-100
• INTRODUCTION OF TOPIC 76
• RESEARCH METHODLOGY 78
• OBJECTIVE 80
• DATA ANALYSIS & INTERPRETATION 81
• CONCLUSION 92
• LIMITATIONS 93
• RECOMMENDATION 94
• BIBLIOGRAPHY 95
• QUESTIONNAIRE 96
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LIST OF TABLE & FIGURSES
• RELIANCE AUTOMATIC PLANAT A GLANCE 35
• THE ASSEST ALLOCATION AND INVESTMENT OBJECTIVE OF
EACH OF THE PRE-PACKAGED FUNDS 41
• THE ASSEST ALLOCATION AND INVESTMENT OBJECTIVE
UNDER THE RETURN SHIELD FUND 42
• THE ASSEST ALLOCATION AND INVESTMENT OBJECTIVE
UNDER FUND C 43
• CONVENIENT PREMIUM PAYING OPTIONS 47
• WHEN & HOW MUCH OF FIXED BENEFITS PAID 67
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ABOUT RELIANCE LIFE INSURANCE
An Overview of Its origin
Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of the Reliance - Anil
Dhirubhai Ambani Group. The company acquired 100 per cent shareholding in AMP Sanmar Life
Insurance Company in August 2005. Taking over AMP Sanmar Life provided Reliance Life
Insurance a readymade infrastructure and a portfolio. AMP Sanmar Life Insurance was a joint
venture between AMP, Australia and the Sanmar Group. Headquartered in Chennai, AMP Sanmar
had over 90 offices across the country, 9,000 agents, and more than 900 employees.
Reliance Life Insurance Company Limited is a part of Reliance
Capital Ltd. of the Reliance - Anil Dhirubhai Ambani Group. Reliance Capital is one of India’s
leading private sector financial services companies, and ranks among the top 3 private sector
financial services and banking companies, in terms of net worth. Reliance Capital has interests in
asset management and mutual funds, stock broking, life and general insurance, proprietary
investments, private equity and other activities in financial services.
Reliance Capital Limited (RCL) is a Non-Banking Financial Company (NBFC) registered with the
Reserve Bank of India under section 45-IA of the Reserve Bank of India Act, 1934.
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Human Resources
“In my book, we have no greater asset than the quality of our intellectual capital, and no greater
priority than the growth and retention of our vast pool of talent” – Anil Dhirubhai Ambani
At Reliance - Anil Dhirubhai Amabani Group, we recognise the critical role that our people play in
the success and growth of each of our businesses. It is the skill and initiative of our workforce that
sets us apart from our peers in today’s knowledge-driven economy. It is their commitment and
dedication that lends us the competitive edge, and helps us stay ahead of the curve.
Its strong team of professionals is among the youngest in the country, and consists of some of the
most dynamic, motivated and qualified individuals to be found anywhere in the world. First-rate
management graduates, highly trained engineers, top-notch financial analysts and razor sharp
accountants—we have on our rolls some of the brightest minds in the business.
Mission
Its transparent HR policies and robust processes are driven by a single overarching objective:
To attract, nurture, grow and retain the best leadership talent in every sector and industry is
which we operate.
Vision
To build a global enterprise for all our stakeholders, and
A great future for our country,
To give millions of young Indians the power to shape their destiny,
Aim
To create a team of world beaters that is:
Committed to excellence in quality,
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Focused on creation and enhancement of stakeholder value
Responsive to evolving business needs and challenges
Dedicated to uphold the core values of the Group
Promise
In order to achieve our objective, we offer our people...
Growth opportunities to expand leadership capabilities
True meritocracy and freedom to choose career paths
Opportunities to develop and hone leadership and functional capabilities
An entrepreneurial environment where people can pursue their dreams
Competitive compensation
In addition, we follow a well-defined Rewards & Recognitions programme that periodically
identifies exceptional individual and team achievers among the various business functions and
verticals in the Group.
Expectations
At Reliance - Anil Dhirubhai Ambani Group, we encourage our colleagues to take leadership, at
all levels of the organization, and participate in accelerating growth of our businesses to build a
formidable enterprise.
Leaders in Reliance - Anil Dhirubhai Ambani Group are expected to…
Always keep the customers’ needs in mind and constantly innovate
Execute flawlessly and with speed
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Sustain and strengthen the group’s spirit of entrepreneurship—taking ownership and accountability
for their actions
Leverage synergies to learn and build on the diverse experiences and skill sets of our various
businesses and teams
Create a true meritocracy with a pervasive commitment to transparent systems and processes
Do all this with unquestionable Integrity to ensure total compliance with the laws of the land.
Core Values
Shareholder Interest
We value the trust of shareholders, and keep their interests paramount in every business decision
we make, every choice we exercise
People Care
We possess no greater asset than the quality of our human capital and no greater priority than the
retention, growth and well-being of our vast pool of human talent
Consumer Focus
We rethink every business process, product and service from the standpoint of the consumer – so
as to exceed expectations at every touch point
Excellence in Execution
We believe in excellence of execution – in large, complex projects as much as small everyday
tasks. If something is worth doing, it is worth doing well.
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Team Work
The whole is greater than the sum of its parts; in our rapidly-changing knowledge economy,
organizations can prosper only by mobilizing diverse competencies, skill sets and expertise; by
imbibing the spirit of “thinking together” -- integration is the rule, escalation is an exception
Proactive Innovation
We nurture innovation by breaking silos, encouraging cross-fertilization of ideas & flexibility of
roles and functions. We create an environment of accountability, ownership and problem-solving –
based on participative work ethic and leading-edge research
Leadership by Empowerment
We believe leadership in the new economy is about consensus building, about giving up control;
about enabling and empowering people down the line to take decisions in their areas of operation
and competence…
Social Responsibility
We believe that organizations, like individuals, depend on the support of the community for their
survival and sustenance, and must repay this generosity in the best way they can
Respect for Competition
We respect competition – because there’s more than one way of doing things right. We can learn
as much from the success of others as from our own failures.
“In this Policy, the investment risk in investment portfolio is borne by the Policy holder”
Ensure a comfortable retirement for your corporate family.
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INDUSTRY PROFILE
INSURANCE INDUSTRY AN OVERVIEW
Insurance may be described as a social device to reduce or eliminate risk of life and property.
Under the plan of insurance, a large number of people associate themselves by sharing risk,
attached to individual. The risk, which can be insured against include fire, the peril of sea, death,
incident, & burglary. Any risk contingent upon these may be insured against at a premium
commensurate with the risk involved.
Insurance is actually a contract between 2 parties whereby one party called insurer undertakes in
exchange for a fixed sum called premium to pay the other party happening of a certain event.
Insurance is a contract whereby, in return for the payment of premium by the insured, the insurers
pay the financial losses suffered by the insured as a result of the occurrence of unforeseen events.
With the help of insurance, large number of people exposed to a similar risk makes contributions
to a common fund out of which the losses suffered by the unfortunate few, due to accidental
events, are made good.
This is the current scenario of the global Insurance Industry and now, let us looks at the basic
functions of insurance. While conceding that insurance is a risk-transfer tool, corporate should be
made to understand that it does not suffice merely to transfer the risk but they have to participate in
the effort of loss prevention. New but they have to participate in the effort of loss prevention. New
techniques and technology have to be adopted from time to time in order to improve performance
and this has special significance to the order to improve performance and this has special
significance to the Indian Insurance Industry.
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HISTORY OF RELIANCE INSURANCE
Reliance Insurance activity in India is going on for more than 20 years. In India, life insurance in
its modern form was brought for the first time by Britishers. The Oriental Life Insurance
Company started in 1818 in Calcutta was the first to be founded in India by Europeans to help the
widows of their community. The general insurance business in India, on the other hand, can trace
its roots in Triton Insurance Company Ltd., the first general insurance company established in
the year 1850 in Calcutta by the British. The year 1870, saw the birth of first Indian insurance
company namely, Bombay Mutual Life Assurance Society. The basic aim of this company was
to insure Indian lives at normal rate since in the earlier period. Indian lives were treated as
subnormal and loaded with an extra premium of fifteen to twenty percent. However, right up to the
end of 19th century, the foreign insurance companies in India had an upper hand in matters of
Insurance business. Insuring Indian lives with 10 percent of extra premium was a common practice
prevalent in those times. The Indian Life Assurance Companies were the first to regulate the life
insurance business in 1912. In 1928, the Indian Insurance companies act enabled the government
to collect statistical information about both life and non-life insurance business. Later, the
insurance Act of 1938 was passed and Department of Insurance under authority of superintendent of
insurance was established for the administration of the Act. Up to 1939, 199 companies were working
in India. However, the period 1939-55 was marked by:
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World War II resulting in hasty premium adjustments by Indian companies.
Series of amendments to the insurance Act, 1938.
Appointment of a committee under the Chairmanship of Sir Cowasji Jehanger to enquire
into and to recommend measures to check certain trends and undesirable features in the
management of insurance companies.
The findings of the sub-committee on insurance under the National Planning Commission
headed by Pt. Jawaharlal Nehru.
Partition of India.
De-valuation of rupee on September 18, 1949.
The Insurance Amendment Act.
Interest yield sagging to the lowest lend of three per cent and remaining at that level over
1947-1949.
The rate war and cut throat competition between insurance companies.
The recommendation of the ruling political party, the Indian National Congress, to the
government that the life sector insurance be nationalized, and
The founding of the Jiwanlal Chimanlal Setawad Memorial-The Federation of Insurance
Institutes.
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About IRDA
Structure
• The Life Insurance Council will have an Executive Committee of 16 members of which
2 will be from the IRDA and the rest from licensed life insurers
• The Committee will set up standards of conduct and practices for efficient customer
service, advise IRDA on controlling insurers’ expenses and serve as a forum that helps
maintain healthy market conduct
• It will create and manage a process for agent examination and certification
• The Life Insurance Council is funded by the Life Insurers in India
The Purpose
• The Life Insurance Council seeks to play a significant and complementary role in
transforming India’s life insurance industry into a vibrant, trustworthy and profitable
service, helping the people of India on their journey to prosperity.
Its mission:
• To function as an active forum to aid, advise and assist insurers in maintaining high
standards of conduct and service to policyholders
• Advise the supervisory authority in the matter of controlling expenses
• Interact with the Government and other bodies on policy matters
• Actively participate in spreading insurance awareness in India
• Take steps to develop education and research insurance
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• Help bring to India the benefit of the best practices in the world
The Council will
• Strive for a positive image of the industry through media, forums and opinion- makers and
enhance consumer confidence in the industry
• Assist the industry in maintaining high standards of ethics and governance
• Promote awareness regarding the role and benefits of life insurance
• Organize structured, regular and proactive discussions with Government, lawmakers and
Regulators on matters relevant to the contribution by the life insurance industry and act as
an effective liaison between them
• Conduct research on operational, economic, legislative, regulatory and customer-oriented
issues in life insurance, publish monographs on current developments in life insurance and
contribute to the development of the sector
• Set up the Mortality and Morbidity Information Bureau (MMIB) and take an active role in
its functioning
• Set up similar organizations for the benefit of the life insurance industry
• Act as a forum of interaction with organizations in other segments of the financial services
sector
• Play a leading role in insurance education, research, training, discussion forums and
conferences
• Provide help and guidance to members when necessary
• Be an active link between the Indian life insurance industry and the global markets
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Legislations & Control
• Address common issues in legislation and practice. Interface with the various other
regulatory bodies on behalf of the insurance industry.
• Identify regularly the important issues to be taken up with Government and/or IRDA &
PFRDA and make presentations on behalf of the industry
• Prepare benchmarks for the industry in all areas of operation and help maintain high
standards of conduct, ethics and governance
• Take measures to prevent practices that are detrimental to the interests of the policyholders
Training & Certification
• Take up the work relating to the training, examination and certification of Agents as
provided in the Insurance Act
• Play a positive role in establishing standards, training of officials and intermediaries not
only in products and sales but also other aspects relevant to the life insurance industry and
lift the level of professionalism
• Conduct professional development programs in collaboration with international councils
and life insurance institutes
Education & Awareness
• Launch regular insurance awareness programs
• Facilitate the conducting of Continuous Development Programs for intermediaries
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• Provide structured regular information to the public about the industry
• Launch an interactive website/Life Insurance Journals/newsletters
• Organize / participate in major conferences, seminars, workshops and lectures by
Indian/visiting experts on insurance and related areas
• Facilitate knowledge-exchange programs (both in India and with Councils abroad) to
develop and upgrade the skills of local insurance professionals
• Co-ordinate with educational institutions in India and overseas to encourage research,
professional development courses etc.
• Elevate the profession of insurance selling and that of the Advisor, to that of financial
analysts and planners through certification programs developed in conjunction with Indian
and International institutions
• Establish a consumer relations cell
The Promise
Strengthening the role of the insurance sector in India and creating wealth for its people… The
Life Insurance Council. A three way interaction among the insurer, the insured and Regulatory
body. A convergence of interests… and the collective voice of life insurance.
In Perspective
Indian Life Insurance Industry
• More than a century in India
• Large mobilizations of savings next only to banks
• Significant participant in the Capital Markets
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• Constitutes 15% of Gross Domestic Savings
• Assets under management - more than Rs. 4,00,000 Crores
• Invested in Infrastructure - Rs. 40,000 Crores
• Employment
Employs close to 2, 00,000. Retail customers: 92%
• Agency Force
1.5 million
• Policies in force
Nearly 20 crores
• Offices
Nearly 3000 offices across India and
growing
• Growth
Penetration grew from 1.2% to 2.2% of GDP
Insurance Density grew from Rs. 280 to Rs. 600 (per capita premium)
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INSURANCE SECTOR REFORMS
The insurance sector began its reform process with the passage of the IRDA (the Insurance
Regulatory and Development Authority) bill in Parliament in December 1999. However with the
setting up of IRDA, the government has once again de-regulated the sector opening it for the
private players. The entry of private players has enabled the industry to look at alternative
distribution channels. To get the maximum pie of the premium, every insurance company is
adopting new distribution and marketing strategies. The transition of the insurance industry from a
public monopoly to a competitive environment now presents very interesting challenges both to
the new players and to the customer. Not only the new players have an opportunity to test out their
various hypotheses and apply learning’s from overseas markets, the customer will have a greater
choice when it comes to choosing a provider or a solution for their needs.
BENEFIT OF INSURANCE
Insurance can be seen as a hedge against the unexpected calamities like death, theft or damage of
property due to accidents, fire etc. The insurance potential untapped means human and physical
assets unprotected and their worth unpreserved. The sense of lost worth is relatively easy to
understand in the case property. But it is difficult to view human beings from this angle. When
these two things are appreciated in their right spirit, life insurance in India will not remain simply
as one more source or avenue of savings.
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The most important benefit is the identification of unexpected losses. Restoring of losses
not only rebuilds the economic viability of an organization but also strengthens the society at large.
When the uncertainty gets reduced an insured person can spend more time and energy, work with
greater concentration, resulting in higher efficiency and better performance. From the management
point of view, it is accumulation of fund for investment in the field of national priority.
Accumulation of fund stems out of a gap in in-payment timings.
This means a large amount of money remaining under the disposal of insurer for
investment in a more productive way. The other major benefit arising out of insurance is the
strengthening of small business houses. Insurance can help a small unit to get involved with those
economic activities for which resource requirement is beyond its infernally accumulated fund
and/or mobilizing capacity. The biggest beneficiary of the incoming competition in insurance will
be Indian consumers. They will have more choice of insurance schemes. At present Indians are the
most deprived insurance customers in the world, out of about 150 general insurance schemes on
the global level, only 10 per cent of them are offered by the four subsidiaries of the GIC. So
through privation consumers will get wide range of insurance products. Also claims settlement will
be hassle free and customer friendly.
CHALLENGES FOR INSURANCE SECTOR
Insurance companies in India will have to develop appropriate channels to lap this huge
market as the core of insurance business hinges on an efficient distribution.
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Direct marketing is one of the most successful channels of distribution in the developed
economics. It is a great way to reach a large population. So the product should be sold
through telemarketing or direct mail.
In the insurance business cost control and ability to service large number of customers are
crucial issues. So modern technology is to be adopted to handle both the services
effectively.
Today customers are well equipped with information, so insurance company should
reposition different product by changing customer attitudes.
The actuary should be required to attend minimum number of seminars called continuous
professional development courses for financial control of the organization.
Distribution of existing insurance products is the main course of worry for insurance
companies in India. The insurance companies are using WBFCS, banks and housing
finance.
Companies for distribution do not have much control on the agents and hence lose quality in the
distribution channel. So Bank’s advisory committee, representation of agency should be licensed.
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RELIANCE LIFE PRODUCTS & SERVISES
It offers need based life insurance to solutions to individuals and corporate (Individual).
Employee Benefit
Reliance Group Gratuity policy
In this policy, the investment risk in investment portfolio is borne by the policy holder
The Indian Government introduced the Payment of Gratuity Act in 1972. Generally gratuity
accrues at a rate of 15 days last drawn salary per year of service for each employee or as defined
by the trust deeds. Gratuity is payable immediately on cessation of employment, provided the
employee has continuous service of at least five years. The five year provision does not apply on
death or disablement of the employee. Gratuity by nature is a medium- to long-term liability of the
employer and accordingly an appropriate medium- to long-term investment strategy should be
adopted by trustees to match assets and liabilities.
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Liability for your employees’ gratuity is often the trickiest thing to forecast accurately and manage
well. While doing so you may come across some pertinent questions: What is my true liability for
employees’ gratuity? How do I manage this liability? Am I maximizing my potential tax benefit?
Am I rewarding my most valuable employees adequately? Am I matching long-term liabilities
under Gratuity with my investment strategy? Are my Gratuity assets professionally managed?
We at Reliance Life Insurance Company Limited can be of help to find answers to most of these
very relevant questions. We can assist you to meet your obligations under the Payment of Gratuity
Act while providing innovative solutions and delivering long-term results for your investment
through our Reliance Group Gratuity Plan. You can also transfer your existing gratuity liability
managed under some other funds to Reliance Life Insurance Company Limited.
Reliance Group Gratuity Plan
This is a unit linked group Gratuity product with three different fund options, namely Capital
Secure, Growth and Balanced Funds. It enables employers / trustees with more than 20 employees
to outsource the management of their employees’ Gratuity funds and the related administration to
Reliance Life Insurance Company Limited.
Policy Conditions
Minimum/Maximum annual past service gratuity contribution – Rs.200000/no limit
Minimum/Maximum Entry Age - 18 years last birthday/64 years last birthday
Maximum Maturity Age - 65 years last birthday
Minimum Policy Term - 1 year
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Minimum/maximum Insured death benefit sum assured – Rs.1000 per member/no limits
The Reliance Group Gratuity Plan is a unit linked Plan where the employer can choose for each
member past service gratuity to be paid out to the employee and a level of insured death benefit,
subject to a minimum insured death benefit of Rs.1000 per member. This insurance premium will
be quoted by us and will be payable over and above the past service gratuity liability contributions.
Each past service gratuity liability contribution received will be utilized to purchase units in the
unit-linked funds chosen by the employer / trustees. The fund options have different time horizons,
risk profiles and return levels.
Capital Secure Fund: The investment objective of the Capital Secure fund is to maintain the value
of all past service gratuity liability contributions (net of charges). The current asset allocation
Limits are:
100% Government securities and bank deposits with duration of less than 180 days. Time horizon
– Short, Risk Level – Low, Level of expected returns – Low
The contributions in Capital Secure Fund must not exceed 20% of the total allocated contributions
at any time.
Balanced Fund:
The investment objective of the balanced fund is to provide policyholders with investment returns
which exceed the rate of inflation in the long term while maintaining a low probability of negative
investment returns. The current asset allocation limits are: 80% min Government securities and
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corporate bonds & 20% max Equities. Time horizon – Medium, Risk Level – Low-medium, Level
of expected returns - Medium
Growth Fund:
The investment objective of the Growth fund is to provide policyholders with investment returns
which exceed the rate of inflation in the long term while maintaining a moderate probability of
negative investment returns. The current asset allocation limits are 60% min in Government
securities, corporate bonds and bank deposits & 40% max in Equities. Time horizon – Long, Risk
Level – Medium-High, Level of expected returns - Medium
Unit Pricing:
The unit price of each fund will be calculated on a daily basis. Unit Value = Total Market Value of
assets plus/less expenses incurred in the purchase/sale of assets plus Current Assets plus any
accrued income net of fund management charges less Current Liabilities less Provision
Total Number of units on issue (before any new units are allocated / redeemed)
The unit pricing shall be computed based on whether the company is purchasing (appropriation
price) or selling (expropriation price) the assets in order to meet the day to day transactions of unit
allocations and unit redemptions i.e. the company shall be required to sell/purchase the assets if
unit redemptions/allocations exceed unit allocations/redemptions at the valuation date.
The Appropriation price shall apply in a situation when the company is required to purchase the
assets to allocate the units at the valuation date as stated above. This shall be the amount of money
that the company should put into the fund in respect of each unit it allocates in order to preserve
the interests of the existing unit holders
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The Expropriation price shall apply in a situation when the company is required to sell assets to
redeem the units at the valuation date as stated above. This shall be the amount of money that the
company should take out of the fund in respect of each unit it cancels in order to preserve the
interests of the continuing unit holders.
Allocation of units:
The company applies premiums to allocate units in one or more of the unit-linked funds in the
proportions which the policyholder specifies. In case of New Business, units shall only be
allocated on the day the proposal is completed and results into a policy by the application of
money towards premium. In the case of renewal premiums, the premium will be adjusted on the
due date, whether or not it has been received in advance. (This assumes that the full stipulated
premium is received on the due date.)
In respect of premiums received or funds switched up to 4.15 p.m. by the company along with a
local cheque or a demand draft payable at par at the place where the premium is received, the
closing NAV of the day on which the premium is received or funds switched, shall be applicable.
In respect of premiums received after 4.15 p.m. by the company along with a local cheque or a
demand draft payable at par at the place where the premium is received, the closing NAV of the
next business day shall be applicable.
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In respect of premiums received with outstation cheques or demand drafts at the place where the
premium is received, the closing NAV of the day on which cheques / demand draft is realized shall
be applicable.
Redemptions
In respect of valid applications received (e.g. surrender, benefit payment, switch out etc) up to 4.15
p.m. by the insurer, the same day’s closing NAV shall be applicable. In respect of valid
applications received (e.g. surrender, benefit payment, switch out etc) after 4.15 p.m. by the
insurer, the closing NAV of the next business day shall be applicable. The NAV for each
segregated fund provided under this product shall be made available to the public in the print
media on a daily basis. The NAV will also be displayed in the web portal of the company.
Benefits under the Plan
The exact benefits for a scheme under this Plan will depend on the individual employer’s gratuity
scheme. Generally, the contingencies for benefit payment and the benefit level will be as given
below:
Death of employee in service– past service gratuity plus insured death benefit amount
Disability of employee in service - past service gratuity
Retirement of employee – past service gratuity
Resignation / early termination of service of the employee: past service gratuity
Surrender of Policy
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If the employer / trustees decide to surrender their policy, Reliance Life Insurance Company Ltd.
will pay a surrender benefit equal to the fund value minus the surrender charges, if any.
All benefits, except for insured death benefit amount, shall be payable by canceling units at the
prevailing unit price. The liability of the insurer for a scheme will be limited to the fund value plus
the insured death benefit amount under the scheme.
Discontinuance of Insurance Premium payment
A policy shall lapse if insurance Premiums along with Gratuity Contributions are not paid within
the grace period of 30 days.Under a lapsed policy, the life cover will continue. The insurance
premium will be collected by canceling units. The policy will continue to participate in the
performance of unit funds chosen by the policyholder.
If the policy is not revived within the period of revival of 5 years from the due date of the first
unpaid premium, the surrender value, if any will be paid at the end of period allowed for revival
and the contract will be terminated.
Revival of discontinued policy
A policyholder may revive a policy by recommencing the payment of insurance premiums along
with Gratuity contributions at any time within a period of 5 years from the due date of first unpaid
insurance premium
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Payment of gratuity liability contributions along with insurance premium
For a newly set up gratuity trust, the past service gratuity liability contribution can be paid either in
a lump sum or in installments spread over not more than 5 years. For an existing scheme, the
annual gratuity liability contributions along with insurance premium can be paid either in yearly or
half-yearly or quarterly or monthly installments.
Insurance Premium:
It means the amount payable to keep the insured death benefit in force. It will depend on the
attained age at start of policy year, the amount of insured death benefit and
Occupation class.
Grace Period
There is a grace period of 30 days from the due date for the payment of the insurance premium
along with gratuity contributions. If insurance premium along with gratuity contribution is payable
monthly, the grace period will be 15 days from the due date.
Switching & Contribution redirection:
Transferring (switching) assets from one investment fund to another can be done at any time. You
can make up to four switches free of charge each year. You may also redirect past service gratuity
liability contributions in future to a different asset mix. The flexibility is yours.
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Charges
Fund Management Charges Fund Charge (% of funds under management)
Capital Secure Fund 0.75% per annum charged daily
Balanced Fund 0.75% per annum charged daily
Growth Fund 0.75% per annum charged daily
The fund management charges are not guaranteed. The Fund Management Charges under Capital
Secure Fund can be increased up to 2% per annum. The Fund Management Charges under
Balanced Fund and Growth Fund can be increased up to 2.5% per annum. However any changes to
the fund management charges shall be subject to Insurance Regulatory Development Authority
(IRDA) approval.
Switching charges
Transferring (switching) from one investment fund to another can be done at any time. You can
make up to four switches free of charge each year. Any switch above this will attract a charge of
0.1% of the switched amount subject to minimum of Rs.1000 per switch and maximum of Rs.5000
per switch. This charge is recovered by canceling units.
Surrender charges Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Onwards
Charge(% of fund value) 5% 4% 3% 2% 1% NIL
These charges are levied only if the employer / trustees decide to surrender the policy with
Reliance Life Insurance Company Limited.
Suicide Claim provisions
In case of a claim where a member has committed suicide within 12 months from the date of
inception of the scheme, whether sane or insane at that time, the company will limit the death
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benefit to the past service gratuity benefit (which will be paid from the unit-linked fund of the
scheme), and will not pay any insured death benefit
Payment of taxes, stamp duties
We will deduct from benefits/insurance premium/contribution any taxes, duties or surcharges of
whatever description where levied by any statutory authority.
Reliance Group Term Assurance Policy
What is Reliance Group Term Assurance Policy?
Reliance Group Term Assurance Policy is a one year Renewable Term Assurance contract. The
benefit is payable on the happening of the contingency during one year. At the end of the year, the
contract may be renewed.
Who is Reliance Group Term Assurance Policy designed for?
Employers looking for a comprehensive professionally administered term assurance cover for their
employees. Subject to approval by the Provident Fund Commissioner, this Policy can be used as a
replacement for the Employees Deposit Linked Insurance Scheme under the Provident Fund Act.
What are the benefits provided?
A payment is made on the death of an employee. Cover can be:
Fixed multiple of salary
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% of salary for each year of future service to normal retirement date
Fixed Rupee amount
Fixed Age-related scale
Formula based on designation / rank of employees in the group
If an employee becomes disabled, as defined by us, then the benefit above is accelerated and paid out
in 5 equal annual installments.
No further benefit is payable subsequently.
No benefits are payable on survival to the end of the year.
What options are available?
You can choose:
Whether or not to provide the benefit on disablement
Whether or not you wish to benefit from experience in your policy
Whether or not to give your employees the choice of continuing their cover with us under an
individual policy
What is the benefit from experience in the Policy?
At the end of every 3 policy periods, under the basis specified below, we will investigate the
claims experience under this policy. That investigation may lead us to decide that an experience
refund is due. If we declare that an experience refund is due, we will adjust it against the premium
due for the next policy period.
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If it later turns out that an incorrect experience refund has been paid, the policy owner must pay
any amount owed to us. Also, we may reduce the amount we pay under any claim to reflect any
amount the policy owner owes.
Why take this policy?
Improved HR because the benefit has value to the employee
Replacement of lump sum payments with regular premiums accelerates tax relief
Statutory compliance if used to replace insurance cover under the Provident Fund Act
What do your employees get?
Coverage at rates lower than applicable to individual lives
Simplified procedures for insurability- limited or no medical tests
When benefits are not payable?
We do not pay the death benefit under this policy if the Insured Person, whether sane or insane,
dies by his or her own hand, within 12 months from the date on which his or her cover
commenced.
We do not pay the disability benefit under this policy which is caused, directly or indirectly, by:
Engaging in another occupation, unless the same has been agreed upon by us; or
Intentional self injury or illness (whether wholly or partly); or
Participation in any criminal or illegal act; or
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Being under the influence of alcohol or drugs except under direction of a registered medical
practitioner; or
Racing or practicing racing of any kind other than on foot; or
flying or attempting to fly in, or using or attempting to use, an aerial device of any description,
other than as a fare paying passenger on a recognized airline or charter service; or
Participating in any riot, strike or civil commotion, active military, naval, air force, police or
similar service; or
War, invasion, act of foreign enemies, hostilities or war like operations (whether war be declared
or not), civil war, mutiny, military rising, insurrection, rebellion, military or usurped power or any
act of terrorism or violence.
Automatic Cover will apply to:
All Insured Persons who are At Work on the date of commencement of the policy; and
all of the Employer’s permanent employees who are first eligible to become an Insured Person on
or after the date of commencement of the policy and who apply to be an Insured Person within 3
months of first becoming eligible, and who are At Work on the date they first apply.
Provided that the persons in (a) and (b) above: are up to age 60;
have not been absent from work due to sickness or injury for more than 3 weeks in either of the 2
years prior to the date on which they are eligible to be insured under the Policy;
have joined the employer before attaining age 55.
Lives with cover above the automatic cover limits applicable to the group, will be underwritten
and substandard lives with medical conditions and other impairments will be underwritten as per
the underwriting manual. The basis of underwriting will be the full amount of cover, including up
to the automatic cover limit.
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How will the plan be administered?
We will depend on you to provide us with details of the lives covered under the policy, in a
mutually agreeable format, showing for each member details like name, identity number, date of
birth, male / female, date of joining, salary, if absent from work, reason for the same, benefit
amount or formula for each type of benefit.
Reliance Group Superannuation Policy
“In this Policy, the investment risk in investment portfolio is borne by the Policy holder”
Ensure a comfortable retirement for your corporate family.
Why should you consider the Reliance Group Superannuation Policy?
As an employer you currently contribute 12% of each employee's salary into the Employees
Provident Fund Scheme. However, is this sufficient to provide for an adequate retirement income
for your employees?
The answer to this question is unfortunately, NO.
Firstly, your employees have the option to withdraw assets from the Provident Fund on a regular
basis to meet ongoing lifestyle expenses. Most of your employees will reach retirement age with
an inadequate balance to purchase an income stream to provide them a reasonable income on
retirement.The second reason is that employees are now retiring younger but are living longer.
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Therefore the capital they need to buy an income stream is much greater than ever before, and this
increase in life expectancy will continue to grow making this gap even greater.
What does Reliance Group Superannuation Policy offer?
Superannuation is a tax effective way for employers to reward and recognize employee
performance. The Reliance Group Superannuation Policy provides you with the flexibility to
enable you to tailor your Superannuation Scheme to suit various groups of employees.
Employers can receive a full tax deduction for contributions up to 15% of an employee's salary
into the Reliance Group Superannuation Policy arrangement.
Our investment options are:
1. Capital Secure Fund:
The investment objective of the Capital Secure Fund is to maintain the value of all
contributions (net of charges) and all interest additions. The Policyholder may allocate up to
20% of their investment at any time under this fund. The asset allocation limits under this fund
are 100% Government Securities and Bank Deposits with duration of less than 180 days.
2. Balanced Fund:
The investment objective of the Balanced Fund is to provide Policyholders with investment
returns which exceed the rate of inflation in the long-term while maintaining a low probability
of negative investment returns. The asset allocation limits are: 80% minimum in Government
Securities and Corporate Bonds & 20% maximum in Equities.
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3. Growth Fund:
The investment objective of the Growth Fund is to provide Policyholders with investment returns
which exceed the rate of inflation in the long-term while maintaining a moderate probability of
negative investment returns. The asset allocation limits under the fund are 60% minimum in
Government Securities, Corporate Bonds and Bank Deposits & 40% maximum in Equities.
Switching:
Transferring (switching) assets from one Investment Fund to another can be done at any time. You
can make up to four switches free of charge each year. You may redirect future contributions to a
different asset mix. The flexibility is yours.
Discontinuance of due contributions:
The contributions can be paid monthly, quarterly, half yearly or yearly. There is a grace period of
30 days (15 days if the contributions are paid monthly) for the payment of contributions.
If the payment of contributions is discontinued within 3 years from the inception of the Policy, the
Policyholder can revive the Policy within the period of revival allowed. The Policy will continue
to participate in the performance of the fund chosen by the Policyholder during this period. If the
Policy is not revived during the period of revival, the Policy will be terminated and the Surrender
Value if any shall be at the end of the allowed period of revival.
If the payment of contributions is discontinued after paying the contributions for at least three
consecutive years, the Policyholder can revive the Policy within the period of revival allowed. The
Policy will continue to participate in the performance of the fund chosen by the Policyholder. If
the Policy is not revived during the period of revival, the Policy will be terminated and the
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Surrender Value, if any shall be paid at the end of the allowed period of revival. However, when
the Fund Value reaches an amount equal to
One full year’s contribution, the Contract shall be terminated by paying the Fund Value.
The Policyholder may revive the Policy at anytime during five years from the date of first unpaid
contribution by re-commencing the payment of contributions.
Individual’s plans
Reliance offers 16 individual’s plans. These are:
1. Reliance Automatic Investment Plan
2. Reliance Money Guarantee Plan
3. Reliance Endowment Plan
4. Reliance Special Endowment Plan
5. Reliance Cash Flow Plan
6. Reliance Child Plan
7. Reliance Whole Life Plan
8. Reliance Golden Years Plan
9. Reliance Golden Years Plan Value
10. Reliance Golden Years Plan Plus
11. Reliance Market Return Plan
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12. Reliance Term Plan
13. Reliance Simple Term Plan
14. Reliance Special Term Plan
15. Reliance Credit Guardian Plan
16. Reliance Special Credit Guardian Plan
17. Reliance Connect To Life Plan
Details are given below of some individuals plan:-
Reliance Automatic Investment
The Key benefits of Reliance Automatic Investment Plan are as follows:
• A smart plan which adapts to your changing risk profile with increasing age
• Option to lower the average cost of units through systematic transfer of your funds
• Flexibility to switch between funds and plans
• Options for additional Insurance cover available through riders
Key Features Reliance Automatic Investment Plan
• Two plan options to choose from Ready-made and Tailor-made
• Life Stage asset allocation to ensure automatic change in investment patterns, under the
Ready-made Plan option
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• Freedom to decide your own fund mix based on your risk profile under the Tailor-made
Plan
• Regular, limited, single premium paying options
• Unmatched flexibility through our ‘Exchange Option’
• Liquidity in the form of partial withdrawal
• Option to avail of Accidental Death Benefit, Accidental Total, Premium Disability and
Term Insurance riders
How does this Plan work?
As a customer you will have the liberty to choose between the Ready-made and Tailor-made Plan
options. The premium contributions made by you, net of Premium Allocation Charges and Sum
Assured Related Charges are invested in fund/funds of your choice and units are allocated
depending on the price of units for the fund/funds.
The Fund Value is the total value of units that you hold in the fund/ funds. The Mortality Charges
and Policy Administration Charges are deducted through cancellation of units, whereas the Fund
Management Charge is priced in the Unit Value.
Reliance Automatic Investment Plan at a glance
Basic Plan Minimum Maximum
Age at Entry 30 days 65 years last birthday
Age at Maturity 18 years last birthday 80 years last birthday
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Premium Paying
Term
5 years 30 years
Min Sum Assured Regular / Limited Premium: Annualized Premium for 5 years or Annualised
Premium for half of the policy term, whichever higher
Single Premium 125% of the single premium amount
Max Sum Assured No Limit
Benefit Illustration
To enable a better understanding on how the plan works, please refer to the below table for
Regular Premium.
Age of the customer 30 35 40 45
Annual Premium Paid 25,000 25,000 25,000 25,000
Policy Term 15 15 15 15
Premium Paying Term 15 15 15 15
Sum Assured 1,87,500 1,87,500 1,87,500 1,87,500
Maturity Values:at 6% investment returnat 10% investment return
4,95,104
6,94,534
4,94,413
6,93,530
4,93,017
6,91,444
4,90,506
6,87,755
Minimum Premium
Yearly Half Yearly Quarterly Monthly
Regular Premium option Rs 10,000 Rs 5,000 Rs 2,500 Rs 1,000
Limited Premium Rs 20,000 Rs 10,000 Rs 5,000 Rs 2,000
Single Premium Rs 25,000
Min Top Up amount Rs 2,500
Reliance Money Guarantee Plan
Under this plan the investment risk in the investment portfolio is borne by the policyholder.
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Yes, it's a trio the pace setter plan, which promises Life Protection, an opportunity to gain control
over your investments along with protection of downside risk!
For the select few like you, the Reliance Money Guarantee Plan is a Unit Linked product
addressing comprehensive need to strike that perfect balance of Protection and Savings, that you
deserve as you grow successfully. The Reliance Money Guarantee Plan is a Regular Premium Unit
Linked Policy which guarantees the entire premium (including premiums for top- ups) paid by
you. This is a plan which helps you reap all the benefits of a rising market simultaneously
protecting you from the downside risk of the market.
Key Features
Capital Guarantee the sum of all premiums paid is guaranteed on maturity or on death before the
maturity.
Capital Guarantee is available on both the basic premiums as well as on top-up premiums
Unique Return Shield feature to protect your returns
Choice to invest from 3 pre-packaged investment fund options
Unmatched flexibility through our ‘Exchange Option’ to move between the Reliance Money
Guarantee suites of products offered, as you grow up the ladder
Liquidity in the form of partial withdrawals from top-up fund
Option to package with Accidental Death & Disability and Term Insurance riders
How does this Plan work?
The premium contributed by you net of Premium Allocation Charges and Miscellaneous Charge is
invested in fund option of your choice for a specified period of time as selected by you and units
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are allocated depending on the price of units for the fund/funds. The Fund Value is the total value
of units that you hold in the fund. The Policy has a minimum Guaranteed Fund Value which is
equal to total of all premiums paid (excluding any additional and extra premiums if any), to be
payable on survival to maturity or earlier death. The amount of top-up premiums paid is also
guaranteed on death provided there is no partial withdrawal. The amount of top-ups premium is
guaranteed on maturity provided the top-ups premium was paid at least 10 years before the date of
maturity and there is no partial withdrawal. The Sum Assured under the Policy is fixed on the basis of
the selected annual premium and Policy Term.
The Mortality Charges and Policy Administration Charges are deducted through cancellation of
units whereas the Fund Management Charge is priced in the Unit Value. The premiums for riders,
if selected, are payable over and above the premium for the basic Policy .
Benefits in Details
Capital Guarantee: The plan offers Capital Guarantee provided the Policy is kept in full force by
payment of due premiums on time.
Capital Guarantee under the Basic Plan: Premiums paid under the Basic Plan are guaranteed on
the maturity of the Policy or on death during the Policy Term.
Capital Guarantee under the Top-Up premiums: Each top-up premium paid is guaranteed on
death during the Policy Term provided there are no partial withdrawals from that top-up.
Each top-up premium paid is guaranteed on maturity of the Policy provided the Policy Term is
greater than ten years, there are no partial withdrawals from that top-up and the top-up was paid
ten years before the maturity date.
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Life Cover Benefit: The amount of Death Benefit depends on the age of the Life Assured at the
time of death
If the age of the Life Assured at the time of death is more than 12 years last birthday while the
Policy is in force, the Company will pay the sum of:
Higher of (Sum Assured, Fund Value as on date of intimation of death under Basic Plan,
Premiums paid under the Basic Plan excluding any extra or additional premiums paid.)
And
Higher of (Fund Value as on date of intimation of death under top- ups and top-up premium paid
provided no partial withdrawal is made from that top-up)
However if the Life Assured's age at the time of death is less than or equal to 12 years last birthday
while the Policy is in force, the Death Benefit will be the sum of:
Higher of (Fund Value as on date of intimation of death under Basic Plan and premiums paid
under the Basic Plan excluding any extra or additional premiums paid)
and
Higher of (Fund Value as on date of intimation of death under top- ups and top-up premium paid
provided no partial withdrawal is made from that top-up)
The Policy terminates on payment of the Death Benefit.
Maturity Benefit: The Maturity Benefit is the sum of Higher of (Fund Value under Basic Plan
and Premiums paid under Basic Plan excluding any extra or additional premiums paid) and
Maturity Benefit under Top-Up
If Policy Term is greater than ten years, the Maturity Benefit under top-up is the higher of ( Fund
Value under the top-up and top-up premium paid provided there is no partial withdrawal from that
top-up)If Policy Term is ten years, the Maturity Benefit under the top-up is the Fund Value under
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the top-up. The Policy Terminates on payment of the Maturity Benefit. Sum assured
The fixed Sum Assured under the Basic Plan will be calculated as the amount of annual premiums
payable for half the Policy Term
Rider Benefit: You can add Accidental Death & Accidental Total and Permanent Disablement
Benefit Rider & Term Life Insurance Benefit Rider.
What are the different fund options?
Funds available in respect of Basic Plan and top-up premium
The plan offers three funds for Basic Plan and top-ups - Fund D, Fund E and Fund F. You have the
option to decide your own fund mix with respect to premiums under the Basic Plan and top-ups.
Funds available in respect of Return Shield Option
Return Shield Fund will be available if Return Shield Option is selected. The returns earned under
the Basic Plan and top-ups will be transferred to Return Shield Fund if Return Shield option is
selected.
Funds available during settlement period
If you have opted for the settlement option, then Fund C would apply by default during the
settlement period.
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The Asset Allocation and investment objective of each of the pre-packaged funds is given below:
Type of Fund Investment Objectives Asset CategoryAsset Allocation
Range (%)
Targ
(%
Fund D The investment objective of Fund D is to
provide investment returns that exceed therate of inflation in the long term while
maintaining moderate probability of
negative returns in the short term. The risk
appetite is defined as 'moderate'.
Money Market Instruments 0 - 20 0
Debt Securities such as Gilts,
Corporate Debtexcluding Money
Market Instruments
0 - 100 60
Equities0 - 40 40
Fund E The investment objective of Fund E is to
provide, in the long term, returns which are
significantly higher than the inflation rate,
through high exposure to equity
investments, while recognizing that there is
some probability of negative returns in the
short term. The risk appetite is 'moderate to
high'.
Money Market Instruments 0 - 20 0
Debt Securities such as Gilts,
Corporate Debtexcluding Money
Market Instruments
0 - 100 50
Equities 0 - 50 50
Fund F The investment objective of Funds is to
provide, in the long term, returns which are
significantly higher than the inflation rate,
through high exposure to equity
investments, while recognizing that there is
some probability of negative returns in the
short term. The risk appetite is 'moderate to
high'.
Money Market Instruments 0 - 20 0
Debt Securities such as Gilts,
Corporate Debtexcluding Money
Market Instruments
0 - 100 40
Equities 0 - 60 60
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The Asset allocation and Investment Objective under the Return Shield Fund is given below:
Type of Fund Investment Objectives Asset CategoryAsset
AllocationRange (%)
Target(%)
Return Shield The investment objective of the Return
Shield Fund is to provide steady
investment returns achieved through
100% investment in Debt Securities,
while maintaining moderate probability
of negative returns in the short term.
The risk appetite is defined as
'moderate'.
Money Market
Instruments
0 - 20 20
Government Securities
and’ approved securities0 - 100 40
Corporate Bonds and other
Debt Instruments0 - 60 40
The Asset Allocation and Investment Objective under Fund C is given below:
Type of Fund Investment Objectives Asset CategoryAsset
AllocationRange (%)
Target (%)
Fund C The investment objective of Fund C is
to provide investment returns that
exceedthe rate of inflation in the long
term while maintaining a low
probability of negative returnsin the
short term. The risk appetite is defined
as 'low to moderate'.
Money Market
Instruments
0 - 20 0
Debt Securities
such as Gilts,
Corporate
Debtexcluding
Money Market
Instruments.
0 - 100 80
Equities 0 - 20 20
Whilst, every attempt would be made to attain target levels prescribed above, it may not be
possible to maintain the prescribed “target” at all times owing to market volatility, availability of
market volumes and other related factors
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The “target” may be attained on a “best effort” basis. However the Asset Allocation will always
fall within the Asset Allocation Range mentioned in respect of each fund.
Unit pricing & Cut-off Timings
Value of Units: The computation of Unit Value will be based on whether the Company is
purchasing (Appropriation Price) or selling (Expropriation Price) the Assets in order to meet the
day to day transactions of Unit Allocations and Unit Redemptions i.e. the Company shall be
required to sell/purchase the Assets if Unit Redemptions/Allocations exceed Unit
Allocations/Redemptions at the Valuation Date.
The Unit Price of each Fund will be the Unit Value calculated on a daily basis.
Unit Value =
Total Market Value of Assets Plus(less) expenses incurred in the purchase (sale)
of Assets plus Current Assets plus any accrued income net of Fund Management
Charges less Current Liabilities less Provision
Total Number of units on issue (before any new units are allocated(redeemed))
Redemptions:
In respect of valid applications received (e.g. surrender, maturity claim, switch out etc) up to 4.15
p.m. by the Insurer, the same day's closing NAV shall be applicable.
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In respect of valid applications received (e.g. surrender, maturity claim, switch etc) after 4.15 p.m.
by the Insurer, the closing NAV of the next business day shall be applicable.
Flexibility available under Reliance Money Guarantee Plan
Return Shield an innovative way to protect your returns
This option is available to you during the term of the Policy. You can select or delete this option at
any time during the term of the Policy.
There will not be any charge for the Return Shield option under following circumstances;
If the option is selected under Basic Plan on commencement of the plan
If the option is selected under top-up premium at the time of payment of top-up premium
Under all other circumstances, a fixed charge of Rs100 is payable every time the Return Shield
option is selected.
If this option is selected, the return earned on Basic Plan and Top-Ups during the month will be
transferred to Return Shield Fund at the end of the Policy month. The operation of Return Shield
option under Basic Plan is given below:
The amount of returns to be transferred to Return Shield Fund will be determined separately for
each Policyholder in respect of each of the tree funds D,E and F Fund The method used for
determining the return to be transferred is given below :
= Fund Value) on the last working day of the Policy month
Less Fund Value on last working day of the previous Policy month
Less amount of inflows during the month
The operation of Return Shield option under top-up premium(s) will be similar to that of Basic
Policy.
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The amount will be transferred to Return Shield Fund at the prevailing Unit Price.
Exchange Option: This option is available for existing Policyholders after completion of three
Policy years from the date of commencement, Under this option, the Policy holder can transfer
Policy Benefits (surrender, maturity etc.) either fully or partially to another plan. This option must
be exercised at least 30 days before the date of receipt of benefit under the Policy.. The Terms and
Conditions as specified in the opted Policy Document would apply to the Policy holder opting for
the 'Exchange Option'.
If a Policyholder is opting for the Reliance Money Guarantee plan under exchange option, the
Allocation Charge in year of exchange will be 15 % of the annualised premium of Reliance Money
Guarantee Plan. If the Exchange Option is used to pay top-ups in the Money Guarantee Policy, the
Allocation Charge in the year exchange will be 1% of the top up amount.
Pay top-ups: If you have received a bonus or some lump sum money you can use that as a top-up
to increase the investments component in your Policy. Top-ups are allowed only if all basic
premiums due till date are paid. At any time, the maximum amount of all top-up premiums
allowed is restricted to 25% of the total basic regular premium paid till date.
The minimum top-up premium amount is Rs 2,500. The amount of top-up premiums paid is also
guaranteed on death provided there is no partial withdrawal. The amount of top-up premium is
guaranteed on maturity provided the top-up premium was paid 10 years before the date of maturity
and there is no partial withdrawal made from the top-up fund.
Partial Withdrawals: These are allowed for units created by top-up premiums.
There is lock-in period of three years under the top-ups from the date of payment of top-ups during
which no partial withdrawal is allowed. The lock-in period is not applicable to Top-ups made
during last three years of a Policy. After partial withdrawal, the original Tranche of that particular
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top-up will lose the Capital Guarantee. Where Life Assured is minor, partial withdrawals will be
allowed only after completion of age 18 years.
No partial withdrawals are allowed for basic regular premium funds.
Switching Option: You can switch the whole or part of the funds between funds D, E, F at any
time during the Policy Term. You can also switch from Return Shield option to any one fund D, E
and F. First four switches in any Policy year are free.
If Return Shield option is selected switching from any of the funds D, E, F in to Return Shield
option will be done at the end of every Policy month. Such switches will not be counted as part of
the four free switches during the Policy year.
Premium Redirection: You may instruct us in writing to redirect all the future premiums under a
Policy in an alternative proportion to the various Unit Funds available. Redirection will not affect
the allocation of premium(s) paid prior to the request.
Settlement Options: This option enables you to take the maturity proceeds in the form of
periodical payments after the Maturity Date instead of a lump sum on the Maturity Date. You can
choose to redeem the units in your Unit Fund anytime up to 5 years from the date of maturity.
Capital Guarantee is not available during this period.
During this period, there will be no Life Cover. The only fund option available during the
settlement period is Fund C. The maturity proceeds will automatically be transferred in to Fund C
if settlement option is selected. The Policy will participate in the performance of units of Fund C.
The Company will deduct Policy Administration Charges by cancellation of units. The Fund
Management Charge will be priced in the Unit Value.
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In the event of death during settlement period the Fund Value as on the date of intimation at the
office will be paid to the nominee. ?In order to opt for this option the customer has to give notice
of 30 days to the Company before the Maturity Date.
During the settlement period, the investments made in the Unit Funds are subject to investment
risks associated with Capital Markets and the Unit Prices may go up or down based on the
performance of the fund and the factors influencing the Capital Market, and the Policyholder is
responsible for his / her decisions. The investment risk during the settlement period will be borne
by the Policyholder.
Convenient Premium Paying options
you can pay the regular premiums in yearly, half yearly, quarterly and monthly mode and pay by
cash, cheque, debit/credit card, ECS & direct debit.
The minimum regular premium is Rs 10,000 for annual mode, Rs 5,000 for half-yearly, Rs 2,500
for quarterly and Rs 1,000 for monthly mode. The minimum top-up premium is Rs 2,500.
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What if I want to discontinue the Policy?
You may surrender your Policy at any time after three years from commencement.
Basic Plan Minimum Maximum
Age at Entry 30 days 55 years last birthday
Age at Maturity18 years last
birthday80 years last birthday
Policy Term 10 years 30 years
Optional Riders
Term Life Insurance Benefit Rider
Age at Entry18 years last
birthday59 years last birthday
Age at Maturity 23 years last birthday
64 years last birthday
Policy Term 5 years 30 years
Sum Assured 25,000Up to basic Policy Sum
Assured
Accidental Death and Accidental Total and
Permanent Disablement Rider
Age at Entry18 years last
birthday
60 years last birthday
Age at Maturity23 years last
birthday64 years last birthday
Policy Term 5 years 30 years
Sum Assured 25,000 Up to basic policy Sum
Assured subject to a maximum
of Rs 50,00,000 on accidental
death and Rs 500,000 per
annum on total permanentdisability.
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Full Surrender Value under Basic Plan: The Surrender Value will be the Fund Value
including Return Shield Fund if selected as on the date of intimation of surrender under Basic Plan
less Surrender Charge as given below. On surrender of Basic Plan, any attaching Top-Ups will
also be surrendered. No partial Surrender Value is available under Basic Plan.
Year of surrender Basic
Plan
Surrender Charge as % of Fund Value of
including Return Shield Fund if selected
1 to 3
Surrender Value not available2
3
4 5%
5 3%
6+ Nil
Full Surrender Value or Partial Withdrawal Value under Top-Up: This will be
available on completion of three years from the date of payment of top-ups. The lock-in period of
three years will not be applicable to top-ups paid in the last three years of the plan. The full
Surrender Value or Partial Withdrawal Value is equal to the Fund Value being surrendered or
being withdrawn. There is no Surrender Charge or Partial Withdrawal Charge.
If a partial surrender is taken from the top-up, the Capital Guarantee on death and maturity (i.e. the
minimum Death Benefit of top-up premium on death at any time during the Policy Term and the
minimum Maturity Benefit of top-up premium paid provided a period of at least 10 years has
elapsed from the date of payment of top-up) will cease immediately on that Tranche of top-up.
Charges under the plan
Premium Allocation Charges: This is a percentage of the premium appropriated towards charges
from the premium received.
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YearPremium Allocation Charge
( as percentage of premium amount)
Year 1 30%
Year 2 7%
Year 3 onwards 5%
For top-up premium the Allocation Charge is 2%.
In case of policies under Exchange Option, the Allocation Charge in year of exchange will be 15%
of the annualised premium of Reliance Money Guarantee plan. During subsequent years, the
Allocation Charges mentioned in the above table will apply.
Policy Administration Charges: Rs 40 will be deducted per month per Policy (charged
monthly through cancellation of units).
Fund Management Charges: The Fund Management Charges under each fund are given
below:
Fund Name Annual Rate
Fund D 1.35% p.a.Fund E 1.38% p.a.
Fund F 1.40 p.a.
Return Shield 1.25% p.a.
Fund DC 1.30% p.a.
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The Fund Management Charge on each day is three hundred and sixty fifth of the Annual Charge
and will be deducted from the Assets of the Unit Linked Fund.
Switching Charge: First four switches in any Policy Year are free. There will be a charge of
Rs100 per switch on subsequent switches.
Charge for Return Shield Option: There will not be any charge for the Return Shield option
under following circumstances:
If the option is selected under Basic Plan on commencement of the plan
If the option is selected under top-up at the time of payment of top-up
Under all other circumstances, a fixed charge of Rs 100 is payable every time the Return Shield
option is selected
Mortality Charge: The Mortality Charges is based on your attained age, are determined using
1/12th of the charges mentioned in the Mortality Charge table below and are deducted by
canceling the units from your fund every month.
Surrender Charge: This charge is levied on the Fund Value at the time of surrender of the Policy
as under:
Year of Surrender of
Basic Plan/top-ups
Surrender Charge as
a percentage of fund value
1 to 3 Not allowed
4 5%
5 3%
6 onwards Nil
Service Tax & other applicable charges: These charges are to be levied on the Mortality Charge
and on Rider Premiums. The level of this charge will be as per the rate of Service Tax along with
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the other applicable taxes/ charges on risk premium, if any, as declared by the Government from
time to time. The current rate of Service Tax (including the Education Cess on Service Tax) on
risk premium is 12.24%. Currently, this charge is borne by the Company. However, the Company
reserves the right to pass on this charge as well as other charges/taxes to the Policyholder in future.
Miscellaneous Charge: Fixed Miscellaneous Charge of Rs 2 per Rs 1000 Sum Assured will be
collected on inception of the Policy.
Premium for Rider Benefits: Premium for Rider Benefits will be collected over and above the
premium under Basic Plan.
Recovery of Charges
The one time Miscellaneous Charge on commencement of the Policy and the Allocation Charges
will be deducted from the premium amount before allocation of units.
The Fund Management Charges will be priced in the Unit Price of each Fund.
Mortality and Policy Administration Charges will be collected monthly in advance by cancelling
the units at prevailing Unit Price.
Switching Charge and Return Shield Charge will be collected at the time of transaction by
cancelling the units at prevailing Unit Price.
The Surrender Charge, if applicable, will be deducted from the Fund Value as a percentage of the
Fund Value.
Rider premiums will be collected over and above the premiums under Basic Plan and will not be
deducted through cancellation of units.
In the event that units are held in more than one fund, including Return Shield Fund, the
cancellation of units will be effected in the same proportion as the value of units held in each
Fund. In case the Fund Value in any Fund Value goes down to the extent that it is not sufficient to
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support the proportionate applicable monthly charges, then the same shall be deducted from the
Fund Value of the other funds proportionately.
Change in rate of charges
The revision in charges as mentioned below will take place only after obtaining specific approval
of the IRDA. A notice of three months will be given to the Policyholders before any increase in the
charges.
If the Policyholder does not agree with the modified charges, he/she shall be allowed to withdraw
the units in the plan at the then prevailing Unit Value after paying it if any and terminate the
Policy.
The Fund Management Charge may be increased up to 2.50% p.a. The Policy Administration
Charge may be increased up to Rs75 per month per Policy. The Switching Charge, charge for
selecting STP option can be increased up to Rs 1000 per transaction.
The Surrender, Premium Allocation, Mortality, Miscellaneous Charge and premium rates under
riders are guaranteed for the term of the Policy.
Reliance Endowment plan
Reliance Endowment Plan gives you just the financial independence to realise your dreams in the
future. It lets you decide how much you would like to set as your sum assured based on your
current financial position and your expected future expenses.
Key Features
• On maturity receive Sum Assured plus bonuses
• Wealth creation through bonus additions
• More value for your money by way of High Sum Assured Rebate
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• Increase your insurance protection by adding Term Cover
• Choose to pay regular or single premium
• Choose to add the benefit of two riders - Critical Illness Rider and Accidental Death
Benefit & Total and Permanent Disablement Rider
• Choose to avail of a Policy Loan after three full years’ of premium payment
How does this Plan work?
You pay premium every year for the entire term and get Sum Assured plus accumulated bonuses at
maturity. On death, your Beneficiary will get the Sum Assured plus accumulated bonuses.
Benefits
Maturity Benefit: On maturity you get Sum Assured plus accumulated bonuses (if any) till that
date.
Life Cover Benefit: In the unfortunate event of loss of life, your family will receive the Sum
Assured plus accumulated bonuses (if any) till that date.
Rider Benefit: You also have the option to add three additional benefits to customize the Policy as
per your needs for the regular premium plan
a. Term Life Insurance Benefit Rider
b. Accidental Death Benefit & Total and Permanent Disablement Rider
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c. Critical Illness Rider
Term Life Insurance Benefit Rider
Add the advantage of the Term Life Insurance Benefit rider to your basic Policy and increase risk
coverage.
In the event of unfortunate loss of life the Term Life Insurance Benefit is payable and the amount
payable is equal to the rider Sum Assured.
There is no Maturity Benefit.
Term Insurance
Minimum / Maximum Age at entry 18 / 59
Maximum Age at expiry 64 yrs (policy anniversary immediately following age)
Sum Assured Rs 1,00,000 Equal to basic policy sum assured
Policy Term Equal to basic policy term
Accidental Death Benefit & Total and Permanent Disablement Rider
Accidents are unfortunate and sometimes fatal. You can customise your basic Policy with an
Accidental Death Benefit & Total and Permanent Disablement Rider.
The Accidental Death Benefit is payable if death occurs directly as a result of an accident and is
intimated within 90 days of the occurrence.
The Benefit payable is equal to the Rider Sum Assured. The minimum Sum Assured is Rs 25,000
and the maximum under all Policies taken together is Rs 50, 00,000.
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The Total and Permanent Disablement Benefit is payable if the Life Assured becomes totally and
permanently disabled directly as a result of an accident.
The Disability Benefit is equal to the basic Sum Assured paid in ten equal annual installments
Total and Permanent Disablement is defined as the total and irrecoverable loss of sight of both
eyes, or loss by severance of two limbs at or above wrist or ankle, or total and irrecoverable loss of
the sight of one eye and loss by severance of one limb at or above wrist or ankle for a period of at
least six months.
Inbuilt Waiver of Premium
If the Life Assured becomes totally and permanently disabled, then Reliance Life Insurance will
waive all future premiums under the basic Policy and riders up to a limit of Rs 40,000 p. a.
Accidental Death & Disability Benefit
Age at entry 18 yrs 59 yrs
Age at expiry 25 yrs 64 yrs
Sum Assured Rs 25,000Rs 50,00,000 (subject to a maximum of basic policy sum
assured)
Exclusions
The Company will not pay any Accidental Death Claim or Total and Permanent Disablement
Claims which results directly or indirectly from any one or more of the following:
• An act or attempted act of self-injury,
• Participation in any criminal or illegal act,
• Being under the influence of alcohol or drugs except under direction of a registered
medical practitioner,
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• Racing or practicing racing of any kind other than on foot,
• Flying or attempting to fly in, or using or attempting to use, an aerial device of any
description, other than as a fare paying passenger on a recognised airline or charter service,
• Participating in any riot, strike or civil commotion, active military, naval, air force, police
or similar service, or
• War, invasion, act of foreign enemies, hostilities or war like operations (whether war be
declared or not), civil war, mutiny, military rising, insurrection, rebellion, military or
usurped power or any act of terrorism or violence.
Critical Illness
Age at entry 18 yrs 55 yrs
Age at expiry 23 yrs 64 yrs
Sum Assured Rs 1,00,000 Rs 10,00,000 (subject to a maximum of basic policy sumassured)
Minimum policy term 5
Exclusion with Critical Illness
Cancer: any CIN stage (cervical intraepithelial neoplasia); any pre-malignant tumour; any non-
invasive cancer (cancer in situ); prostate cancer stage 1 (T1a, 1b, 1c); all skin cancers including
malignant melanoma stage IA (T1a N0 M0); any malignant tumour in the presence of any Human
Immunodeficiency Virus.
Heart Attack: Non-ST-segment elevation myocardial infarction (NSTEMI) with elevation of
Troponin I or T; other acute Coronary Syndromes.
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Stroke: Transient ischemic attacks (TIA); neurological symptoms due to migraine.
Coronary Artery (Bypass) Surgery: Angioplasty and/or any other intra-arterial procedures; key-
hole surgery.
Paralysis: Paralysis due to Guillain-Barré-Syndrome.
Waiting and Survival period
The Company will not pay the Critical Illness Benefit if:
•
The critical illness begins prior to or within six months of the commencement date or date
of reinstatement of the Benefit - Waiting Period
• Death from critical illness takes place within 30 days of the onset of the same – Survival
Period
Flexibility
These riders may be attached to your Policy at the beginning or at any Policy Anniversary during
the term of the Contract, subject to underwriting conditions prevailing at that time.
Sum assured for Critical Illness Rider may be increased or decreased by the Policyholder:
• The increase is subject to underwriting conditions
• Once decreased, further increases will not be allowed
The Contract can be terminated and opted for only once, by the Policyholder at any time. Though
above are general conditions of the rider, we may specify restrictions (like time of exercise) on the
above options. Such restrictions would be filed along with the based product filing.
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Sample Illustration:
The tables below show the indicative annual premiums for individual Life Assured across different
Sum Assured and ages for a Policy Term of 20, 25 and 30 years.
Sum Assured: 1 Lakh Sum Assured: 3 Lakh Sum Assured: 5 Lakh
Age\Term 20 25 30 20 25 30 20 25 30
30 4814 3733 3052 14142 10899 8856 23070 17665 14260
35 4897 3842 3192 14391 11226 9276 23485 18210 14960
40 5039 4022 3421 14817 11766 9963 24195 19110 16105
45 5273 4318 3799 15519 12654 11097 25365 20590 17995
Indicative Maturity Benefit:
The table below shows the indicative Maturity Benefits for different Sum Assured levels for an
individual across different terms.
Maturity Benefit (Rs) @ 6%* Maturity Benefit (Rs) @ 10%*
Sum Insured\Term 20 25 30 20 25 30
Rs 100,000 180611 209378 242726 320714 429187 574349
Rs 300,000 541833 628133 728179 962141 1287561 1723047
Rs 500,000 903056 1046889 1213631 1603568 2145935 2871746
(The above Maturity Benefits are calculated for an illustrative gross investment return of 6% &
10% as stipulated by IRDA.)
What is the Policy Term?
Minimum Policy Term: 5 years
Maximum Policy Term: Regular Premium - 35 years (Single)
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Premium 15 years
Who can buy this product?
Minimum age at entry: 5 years
Maximum age at entry: 65 years
Minimum age at maturity: 18 years
Maximum age at maturity: 75 years
What is the Sum Assured?
Minimum Sum Assured: Regular Premium - Rs 25,000 For Single
Premium it is determined by the minimum premium
Maximum Sum Assured: Entry age below 18 years - Rs 5,00,000
Entry age 18 years and above No Limit
Savings and accumulation through bonuses
The Company will declare compounded reversionary bonus which is payable at maturity or on
death whichever is earlier.
More value for money – High Sum Assured Rebate
Reliance Endowment Plan offers an attractive premium discount for Sum Assured over and above
Rs 99,999.
For example, as per the tabular premium rates, the Annual Premium for a 30 year old male, a 25
year policy of Rs 5 lakh Sum Assured comes to Rs 19,165 before the High Sum Assured Rebate.
After the High Sum Assured Rebate, the premium is Rs 17,665.
Sum Assured Range High Sum Assured Rebate
Rs 100,000 – Rs 249,000 Re 1 per 1,000 sum assured
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Rs 250,000 – Rs 499,000 Rs 2 per 1,000 sum assured
Rs 500,000 – Rs 9,99,000 Rs 3 per 1,000 sum assured
Rs 10,00,000 and above Rs 4 per 1,000 sum assured
Reliance Cash Flow Plan
While most insurance plans block your money for a certain period of time, Reliance Cash Flow
Plan gives you the double benefit of life insurance along with easy liquidity through lump sum
cash. It provides money periodically when you need it.
It lets you live life to the fullest today and at the same time, helps you stay protected for tomorrow
by giving you the flexibility of receiving a specified percentage of the Sum Assured at specified
intervals.
Key Features
• Easy Liquidity - Get periodic cash flows at the end of the fourth year and thereafter at the
end of every three years
• Wealth creation through bonus additions
• On maturity receive accumulated bonuses along with final lump sum payout
• More value for your money by way of High Sum Assured Rebate
• Full Sum Assured plus bonuses in case of your unfortunate death. This is over and above
the Survival Benefits already paid
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• Option to add two riders – Critical Illness Rider and Accidental Death Benefit & Total and
Permanent Disablement Rider
How does this Plan work?
You pay premium every year for the entire term and get Survival Benefits at periodical intervals as
mentioned below.
On death, your Beneficiary will get the full Sum Assured, plus accumulated bonuses, over and
above the Survival Benefits already paid to you.
Benefits
Survival Benefit: Get a percentage of the Sum Assured on the fourth anniversary and on every
third Policy Anniversary till maturity.
Maturity Benefit: On maturity you get the remaining percentage of the Sum Assured plus
accumulated bonuses.
Life Cover Benefit: In the unfortunate event of loss of life, your Beneficiary will receive the full
Sum Assured plus accumulated bonuses till that date.
Rider Benefit: You also have the option to add two additional benefits to customize the Policy as
per your needs:
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• Accidental Death Benefit & Total and Permanent Disablement Rider
• Critical Illness Ride
Accidental Death Benefit & Total and Permanent Disablement Rider
Accidents are unfortunate and sometimes fatal. You can customise your basic Policy with an
Accidental Death & Total and Permanent Disablement Benefit Rider.
The Accidental Death benefit is payable if death occurs directly as a result of an accident and is
intimated within 90 days of the occurrence.
The Benefit payable is equal to the Rider Sum Assured. The minimum Sum Assured is Rs 25,000
and the maximum under all Policies taken together is Rs 50, 00,000.
The Total and Permanent Disablement Benefit is payable if the Life Assured becomes totally and
permanently disabled directly as a result of an accident.
The Disablement Benefit is equal to the basic Sum Assured paid in ten equal annual installments
Total and Permanent Disablement is defined as the total and irrecoverable loss of sight of both
eyes, or loss by severance of two limbs at or above wrist or ankle, or total and irrecoverable loss of
the sight of one eye and loss by severance of one limb at or above wrist or ankle for a period of at
least six months
Inbuilt Waiver of Premium
If the Life Assured becomes totally and permanently disabled, then Reliance Life Insurance will
waive all future premiums under the basic Policy and riders up to a limit of Rs 40,000 p. a.
Accidental DeathBenefit &
Total and Permanent Disablement Rider
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Age at entry 18 yrs 59 yrs
Age at expiry 25 yrs 64 yrs
Sum assured Rs 25,000
Rs 50,00,000
(Basic Policy Sum Assured subject to a
maximum of Rs 50,00,000 per life)
Exclusions
The Company will not pay any Accidental Death Claim or Total and Permanent Disablement
Claims which results directly or indirectly from any one or more of the following:
• An act or attempted act of self-injury,
• Participation in any criminal or illegal act,
• Being under the influence of alcohol or drugs except under direction of a registered
medical practitioner,
• Racing or practicing racing of any kind other than on foot, flying or attempting to fly in, or
using or attempting to use, an aerial device of any description, other than as a fare paying
passenger on a recognized airline or charter service,
• Participating in any riot, strike or civil commotion, active military, naval, air force, police
or similar service, or
• War, invasion, act of foreign enemies, hostilities or war like operations (whether war be
declared or not), civil war, mutiny, military rising, insurrection, rebellion, military or
usurped power or any act of terrorism or violence.
Exclusion with Critical Illness
Cancer: Any CIN stage (cervical intraepithelial neoplasia); any pre-malignant tumour; any non-
invasive cancer (cancer in situ); prostate cancer stage 1 (T1a, 1b, 1c); all skin cancers including
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malignant melanoma stage IA (T1a N0 M0); any malignant tumour in the presence of any Human
Immunodeficiency Virus.
Heart Attack: Non-ST-segment elevation myocardial infarction (NSTEMI) with elevation of
Troponin I or T; other acute Coronary Syndromes.
Stroke: Transient ischemic attacks (TIA); neurological symptoms due to migraine.
Coronary Artery (Bypass) Surgery: Angioplasty and/or any other intra-arterial procedures; key-
hole surgery.
Paralysis: Paralysis due to Guillain-Barré-Syndrome.
Waiting and Survival Period
The Company will not pay the Critical Illness Benefit if:
The critical illness begins prior to or within six months of the commencement date or date of
reinstatement of the Benefit - Waiting Period
Death from critical illness takes place within 30 days of the onset of the same – Survival Period.
Flexibility
These riders may be attached to your Policy at the beginning or at any Policy Anniversary during
the term of the Contract, subject to underwriting conditions prevailing at that time. Sum Assured
for Critical Illness Rider may be increased or decreased by the Policyholder:
• The increase is subject to underwriting conditions
• Once decreased, further increases will not be allowed
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The Contract can be terminated and opted for only once, by the Policyholder at any time. Though
above are general conditions of the rider, we may specify restrictions (like time of exercise) on the
above options. Such restrictions would be filed along with the based product filing.
When & how much of Fixed Benefits paid?
Term
Money Back survival benefits paid per Rs.1,000 sum assuredon survival to the end of year
4 7 10 13 16 19 22 25 28 31 34
7 500 500
10 333 333 333
13 250 250 250 250
16 200 200 200 200 200
19 167 167 167 167 167 167
22 143 143 143 143 143 143 143
25 125 125 125 125 125 125 125 125
28 111 111 111 111 111 111 111 111 111
31 100 100 100 100 100 100 100 100 100 10034 90.9 90.9 90.9 90.9 90.9 90.9 90.9 90.9 90.9 90.9 90.9
Sample Illustration:
The tables show the indicative premiums for an individual Life Assured across different Sum
Assured for a Policy Term of 16, 25 and 31 years
Sum Assured: 1 Lakh Sum Assured: 3 Lakh Sum Assured: 5 Lakh
Age\Term 16 25 31 16 25 31 16 25 31
30 8580 5950 5045 25440 17550 14835 41900 28750 24225
35 8700 6140 5295 25800 18120 15585 42500 29700 25475
40 8905 6445 NA 26415 19035 NA 43525 31225 NA
45 9320 7010 NA 27660 20730 NA 45600 34050 NA
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What is the Policy Term?
Minimum Policy Term: 7 years
Maximum Policy Term: 34 years
Who can buy this product?
Minimum age at entry: 15 years
Maximum age at entry: 63 years
Minimum age at maturity: 22 years
Maximum age at maturity: 70 years
What is the Sum Assured?
Minimum Sum Assured: Rs 25,000
Maximum Sum Assured: No Limit
Savings and accumulation through bonuses
The Company will declare simple reversionary bonus which is payable at maturity or on death,
whichever is earlier.
More value for money – High Sum Assured Rebate
Reliance Cash Flow Plan offers an attractive premium discount for Sum Assured over and above
99,999 as mentioned below. For example, as per the tabular premium rates, the annual premium
for a 30 year old male for a 25 year Policy for Rs 5 lakh Sum Assured comes to Rs 30,250 before
the High Sum Assured Rebate. After the High Sum Assured Rebate, the premium is Rs 28,750.v
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Sum Assured Range High Sum Assured Rebate
Rs 100,000 – Rs 249,000 Re 1 per 1,000 sum assured
Rs 250,000 – Rs 499,000 Rs 2 per 1,000 sum assured
Rs 500,000 – Rs 9,99,000 Rs 3 per 1,000 sum assured
Rs 10,00,000 and above Rs 4 per 1,000 sum assured
Can I take a loan against my Policy?
No loan is available under this Policy
What happens if I discontinue paying premium?
During the first three years, if premiums are not paid within the grace period the Policy will lapse.
After the first three years if premiums are not paid within the grace period the Policy will be made paid
up and the Sum Assured will be reduced, firstly, in the proportion of completed duration to Original
Policy Term and
Secondly, by the amount of periodic lump sum payments already made.
Any accumulated bonuses attached to this Policy will remain attached in full. Once this Policy
becomes ‘paid-up’, no further bonuses are paid. You will receive the ‘paid-up’ Sum Assured plus
bonuses on the maturity date of the Policy or in the event of loss of life. Once the Policy becomes paid-
up no further Survival Benefits are paid.
What if I want to discontinue the Policy?
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We provide you the option to surrender your Policy and receive the Surrender Value. If your
Policy has accumulated any bonuses, then you will also receive the cash value of that total amount
upon surrendering your Policy.
Your plan acquires a Surrender Value after 3 years’ premium payment and after three years has
elapsed from date of commencement of Policy. We guarantee a minimum Surrender Value of 30%
of the total premiums paid (excluding any extra premiums and premiums for additional benefits)
subsequent to the first year premium, less the total of lump sum Survival Benefits already paid
under this Policy.
On surrender, the insurance protection provided under the Policy will also cease.
Can I revive a Policy which is lapsed?
A lapsed Policy can be reinstated for full benefits anytime before the date of maturity at terms and
conditions required by the Company.
Flexible Premium Payment Modes
• Yearly
• Half-Yearly
• Quarterly
• Monthly (with salary deduction schemes only)
Grace period
There is a grace period of 30 days for payment of premium.
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Reliance Child Plan
Reliance Child Plan helps you save systematically so that you can give your child the much-
needed financial security in the future. Simply put, Reliance Child Plan gives you the freedom to
enjoy every moment with your child today, without worrying about his/her tomorrow.
Key Features
•
Risk protection for you during the term of the Policy
• Accumulated bonus at the end of the Policy Term
• 25% of Sum Assured payable every year as lump sum benefit during the last four Policy
anniversaries
• All future premiums are waived in the event of unfortunate loss of life
• Guaranteed Fixed Benefits continue even after loss of life of the Policyholder
• More value for your money by way of High Sum Assured Rebate
• Choose to add the benefit of two riders – Critical Illness Rider and Accidental Death
Benefit & Accidental Death Benefit & Total and Permanent Disablement Rider
• Policy participates in profit even after the loss of life of the Life Assured
How does this Plan work?
You pay premium every year for the entire term and get guaranteed fixed benefits every year
during the last four years of the Policy Term.
On death, your Beneficiary will get the Sum Assured, guaranteed fixed benefits on specified dates
and all future premiums will be waived.
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All attached bonuses are payable at the end of the Policy Term and will remain attached to your
Policy even after payment of Life Cover Benefit.
Benefits
Life Cover Benefit: In the unfortunate event of loss of life, your Beneficiary will receive the Sum
Assured immediately and all future premiums will be waived.
Guaranteed Fixed Benefit: Get 25% of Sum Assured every year on the last four Policy
Anniversaries irrespective of the survival of the Life Assured.
For example if you have taken a Policy for Rs 1 lakh for 20 years, then fixed benefits payable will
be Rs 25,000 each at the end of 17th, 18th, 19th and 20th year.
Maturity Benefit: On maturity you get accumulated bonuses irrespective of the survival of the
Life Assured.
Rider Benefit: You also have the option to add two additional benefits to customize the policy as
per your needs.
• Accidental Death Benefit & Total and Permanent Disablement Rider
• Critical Illness Rider
Accidental Death Benefit & Total and Permanent Disablement Rider
Accidents are unfortunate and sometimes fatal. You can customise your basic Policy with an
Accidental Death Benefit & Total and Permanent Disablement Rider.
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The Accidental Death Benefit is payable if death occurs directly as a result of an accident and is
intimated within 90 days of its occurrence.
The Benefit payable is equal to the Rider Sum Assured. The minimum Sum Assured is Rs 25,000
and the maximum under all Policies taken together is Rs 50, 00,000.
The Total and Permanent Disablement Benefit is payable if the Life Assured becomes totally and
permanently disabled directly as a result of an accident.
The Disability Benefit is equal to the basic Sum Assured paid in ten equal annual installments
Total and Permanent Disablement is defined as the total and irrecoverable loss of sight of both
eyes, or loss by severance of two limbs at or above wrist or ankle, or total and irrecoverable loss of
the sight of one eye and loss by severance of one limb at or above wrist or ankle for a period of at
least six months.
Reliance Connect 2 Life Plan
Reliance Connect 2 Life Plan helps you build security & savings for a better tomorrow. As your
income is likely to grow, you should also ensure that you have sufficient protection for your near
and dear ones. Reliance Connect 2 Life Plan ensures that you have the option to upgrade your life
cover to keep pace with your changing lifestyle.
Key Features & Benefits
Maturity Benefit: On survival of the life assured until maturity, the Plan pays the sum assured
plus simple vested bonuses to the policyholder.
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Death Benefit: In case of unfortunate death of the life assured before the maturity date, the Plan
pays the sum assured plus simple vested bonuses to the nominee.
Choice of two plans: At the time of initial purchase of Reliance Connect 2 Life Policy, you have
two kinds of plans to choose from namely, Gold Plan and Silver Plan.
• The Reliance Connect 2 Life Gold Plan offers a life cover of Rs 2,00,000 initially. You
may enhance your life cover to a maximum of Rs 10,00,000 in two stages by exercising
your option.
• The Reliance Connect 2 Life Silver Plan offers a relatively lower life cover of Rs 1,00,000
initially. You may enhance your life cover to a maximum of Rs 5,00,000 in two stages by
exercising your option.
Options to enhance life cover: Under each of the above two plans, you have an option to enhance
your life cover amount:
• At the end of one year from the date of initial purchase of Reliance Connect 2 Life Gold /
Silver Plan, you are entitled to enhance your life cover by exercising your option to
purchase an additional Reliance Connect 2 Life Policy.
• Provided you have exercised your option to enhance life cover at the end of the first year,
you are entitled to enhance your life cover again at the end of the second year by
purchasing an additional Reliance Connect 2 Life Policy.
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INTRODUCTION OF TOPIC
Marketing strategies refers to product differentiation and product positioning are important
strategies in marketing . under product differentiation strategy attempts are made to differentiate
the product and related aspects from competitive products . so as to create a distinct image in
positioning strategy the company’s offering and image are so designed that they occupy a
meaningful and better products, managing product lines and brands, managing support services,
deciding price, selecting and managing distribution channels, managing dealer relation, managing
advertising and other forms of promotional activities, etc. are the activities involved in
operationalising marketing strategies.
PROMOTIONAL ACTIVITIES:
ADVERTIESING
"Advertisements are sometimes spoken of as the nervous system of the business world ... As our
nervous system is constructed to give us all the possible sensations from objects, so the
advertisement which is comparable to the nervous system must awaken in the reader as many
different kinds of images as the object itself can excite" “Advertising effectiveness means different
things to the groups responsible for its different effects. To the writer or artist, effective advertising
is that which communicates the desired message. To the media buyer, effective advertising is that
which reaches prospective buyers a sufficient number of times. To the advertising or marketing
manager, effective advertising is that which, together with other marketing forces, sells his brand
or product. To the general manager, effective advertising produces a return on his firm’s
expenditure.” “In fact, effective advertising must achieve all four goals, delivering messages to the
right audience, thereby creating sales at a profit. Most advertisers have begun only recently to set
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goals in all four areas and measure progress toward them. Some advertisers have set
communications and audience goals, and measured copy and media effects, but few advertisers
have set dollar goals and measured sales and profit effects. The result is that advertising has rarely
been a part of corporate planning. Thirty years ago, management was asking the same questions
they ask today: Is my advertising working and what impact does it have on my sales? Can it be
measured? Can our advertising and promotion be made accountable in the same manner as which
one evaluates all of the other investments by our company? The answer to all three questions is
yes. In fact, the techniques to deliver this degree of accountability and control have been around
for more than 50 years and are industry standards.
There are methods to test every aspect of marketing promotion, sales support and media mix, and
analytical tools to establish a direct relationship to sales for complete accountability. The key to
this is applying a full advertising research curriculum. This requires involvement of both sales and
marketing management and the advertising/promotions supplier coordinating their efforts with the
researcher. It is a partnership. This may explain why so many from both the client and agency
sides remain of the opinion that it can’t be done. The fact is that a full curriculum can be
implemented, is already integral to nearly every brand leader, and you can do it as well. It just
takes a little planning and co-operation. Let’s start from where it all began.
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RESEARCH METHODOLOGY
Research methodology is a strategy that guides a research in providing answers to research
questions and for this, research survey is being done. “Accuracy of the study depends on the
systematic application of the method”. The researcher has to decide the method to be used that
helps him to get a desired direction in a systematic way. This study in the following manner.
Questionnaire Design
The questions were designed in an easily understandable way That the respondents may not have
any difficulty in answering them. The questionnaire also contained a comments section. This
section was included so as to get opinion of the people regarding the Reliance Life Insurance
Company Limited
Random Sampling
Sampling can be defined as a part of population. Thus random sampling may be defined as the
selection of a portion from the whole population in which each elements of the population has an
equal chance of being selected. A more please definition is that each element in the population has
a non-zero and known probability of selection a randomly drawn sample is an unbiased sample. In
this research survey 50 people were surveyed at random to get the relevant information.
Sample Size
The sampling techniques used in this project are probability sampling
techniques and the methods used in cluster sampling.
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Sampling Unit
The respondents who were asked to fill out questionnaires are the sampling units
Sample size:
The sample size was restricted to only 50 between age group of 25-40,which comprised of mainly
peoples from different regions of India.
Sampling Area:
India.
Data Collection
Structured Questionnaire
In this collection data, structured questionnaire is used as a tool by asking a set of standardized
questions to know the effect of Life Insurance Advertisement and behavior of the people for the
Reliance Life Insurance Company Limited
Secondary Data Collection
Various websites were consulted to collect literature relevant to the topic.
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OBJECTIVE
To analyze the marketing strategies of RELIANCE LIFE INSURANCE company .
To find out the market share of RELIANCE LIFE INSURANCE & other competitors.
To know how each and every marketer tries to retain an increase its share in the market.
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DATA ANALYSIS & INTERPRETATION
DATA GIVES PREFERENCE OF RESPONDENTS OF INSURANCE
COMPANIES
COMPANY’S NAME NO.OF
RESPONDENTSHARE (%)
L.I.C. 78 78
RELIANCE LIFE
INSURANCE3 3
ICICI PRUDENTIAL 10 10
SBI LIFE 7 7
HDFC 2 2
TOTAL 100 100
78
3
10
7 2
LIC
REL
ICICI
SBI
HDFC
INTERPRETATION
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78% of the people contacted prefer LIC policy to any other and therefore it is ranked no.1
by that percent of respondents.
DATA GIVES BENEFITS OF RELIANCE LIFE INSURANCE PERCEIVED BY
RESPONDENTS
BENEFITS NO.OF
RESPONDENTSSHARE (%)
Cover Future Uncertainty 55 55
Tax Deductions 20 20
Future Investment 25 25
TOTAL 100 100
INTERPRETATION
55% of the respondents believe that covering future uncertainty is the biggest benefit of an
insurance policy.
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55%
20%
25%Cover Future
Uncertainty
Tax Deductions
Future Investment
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Whereas, 20% and 25% of them believe that the other benefits are Tax deduction and
future investments respectively
DATA PROVIDES FEATURES OF INSURANCE POLICY THAT ATTRACTED
RESPONDENTS
FEATURE NO.OFRESPONDENTS
SHARE (%)
Money Back Guarantee 15 15
Larger Risk Coverance 37 37
Easy Access to Agents 7 7
Low Premium 30 30
Company’s Reputation 11 11
TOTAL 100 100
FEATURES OF INSURANCE POLICY
15%
37%
7%
11%
30%
MONEY BACK
GUAARENTEE
LARGER RISK
COVERANCE
EASY ACCESS TO
AGENTS
LOW PREMIUM
REPUTATION OF
COMPANY
INTERPRETATION
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Majority of the respondent (37%) found Larger risk coverance as the most attracted
feature of the all.
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DATA PROVIDES NUMBER OF RELIANCE INSURANCE POLICY
TYPE RESPONDENTS
POLICY TYPE NO. OF
RESPONDENTS
SHARE (%)
LIFE POLICY 75 75
NON LIFE POLICY 25 25
BOTH 45 45
NATURE OF POLICY
75
25
45
LIFE
POLICYNON LIFEPOLICYBOTH
INTERPRETATION
75% of the respondents have Life Insurance Policy while 45% have both. (The % is
calculated out of 280 positive response)
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DATA GIVES PEOPLE PERCEPTION ABOUT RELIANCE LIFE
INSURANCE
RESPONSE NO. OF
RESPONDENTS
SHARE (%)
A saving tool 81 81%
A tax saving device 74 74%
A tool to protect your family 100 100%
81
74
100
SAVING
TOOL
TAX SAVING
TOOL
FAMILY
INTERPRETATIONINTERPRETATION
• 81% of the respondents have perception of Insurance being a saving tool.
• And 74% of the respondents have perception of Insurance being a tax saving device.
• But 100% of the respondents are with the view that Insurance is a tool to protect your
family.
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DATA SHOWS PEOPLES HAVING RELIANCE LIFE INSURANCE POLICY
RESPONSE NO. OF
RESPONDENTS
SHARE (%)
Yes 70 70%
No 30
Total 100 100%
INTERPRETATION
• Of the sample size of 400 surveyed respondents 70% of the respondents are having
Insurance policy.
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70%
30%
Yes
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• 30% of the respondents are either not having any Insurance policy at present or their
policy is already matured.
• And at present 100% of the respondents are with the view that Insurance is a tool to
protect your family.
DATA SHOWS BUYING PROCESS OF THE PEOPLE
BUYING PROCESS NO. OF
RESPONDENTS
SHARE (%)
Customer approached Insurancecompany/Agent
45 45%
Company/agent approachedcustomer
55 555
Total 100 100%
INTERPRETATION
• 44.5% of the respondents approached the Insurance Company / Agent.
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55%45%
Customer approached Insurance company/Agent
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• Whereas, 55.5% of the respondents were approached by the Company /Agent.
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DATA SHOWS SATISFACTION OF RESPONDENTS WITH RESPECT TORELIANCE LIFE POLICY
RESPONSE NO. OF
RESPONDENTS
SHARE (%)
Satisfied 60 60%
Not satisfied 40 40%
Not Responded 0 0.0%
Total 100 100%
INTERPRETATION
• 60% of the respondents are more or less satisfied with their existing policy.
• 40% of the respondents are not satisfied with their existing policy.
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0%
40%
60%
Satisfied Not satisfied Not Responded
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• In this case all of those who have taken a policy have responded.
DATA SHOWS SATISFACTION OF RESPONDENTS WITH RESPECT TO
RELIANCE LIFE SERVICE AGENT
RESPONSE NO. OF
RESPONDENTS
SHARE (%)
Satisfied 45 45%
Not satisfied 55 55%
Not Responded 0 0.0%
Total 100 100%
INTERPRETATION
• 45% of the respondents are satisfied with their existing service agent.
• 55% of the respondents are not satisfied with their existing insurance agent.
• All of those who have taken a policy have responded.
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55.00%45.00%
Satisfied Not satisfied
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DATA SHOWS PEOPLE OPINION ABOUT RELIANCE LIFE INSURANCE
RESPONSE NO. OFRESPONDENTS SHARE (%)
Rigid plans 67 67%
Non user friendly 29 29%
Unsatisfactory services 26 26%
Non Aggressive 35 35%
Satisfactory 24 24%
Good 10 10%
Very good 0 0%
98
2926
24
10 0
Inflexible plans Non user friendlyUnsatisfactory services Non AggressiveSatisfactory GoodVery good
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INTERPRETATIONINTERPRETATION
• 67% of the respondents have the opinion that Reliance Insurance have Rigid plans.
• 29.5% feel that Reliance Insurance are Non-user friendly.
• 26.5% feel that services of Reliance Life Insurance are Unsatisfactory.
• 35.75% of the respondents are with the view that Reliance Life Insurance are Non-
aggressive.
• 24% of the respondents feel that products and services of Reliance Life Insurance is
Satisfactory.
• Whereas only 10.25% feel that it is Good enough.
• And according to the data, no single person has felt that it is very good.
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CONCLUSION
There has been tremendous change in the insurance history. And with it there has been continuous
growth in this sector both in Indian as well as world context.
The opening up of the insurance sector has changed the whole look of the industry. While the LIC
in order to face the competition is coming with new strategies. New players like Reliance are
leading the sector due to their strategic management and tailored made projects.
From our research also we conclude that though the awareness and people opting for LIC plans are
more as compare to MNYLbut the later are gaining momentum in the market day by day.
The primary reasons for buying an insurance policy, whether life or non-life is to protect us from
vagaries of life. We do not invest in insurance for returns; rather we invest in it for regrettable
necessities. Though a large proportion of policies available in the country provide for returns, but
nobody is looking for returns to the inflation rate. So what does insurance offer, perhaps peace of
mind, but even that takes time, due to poor claim performance
The demand for insurance is likely to increase with rising per-capita incomes, rising literacy rates
and increase of the service sector, as has been seen from the example of several other developing
countries. In fact, opening up of the insurance sector is an integral part of the liberalization process
being pursued by many developing countries?
So lets conduct this business with utmost economy with the spirit of trusteeship; thereby making
insurance widely popular.
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LIMITATIONS
Major limitation of the study are:
• Public prefer private insurance mainly for the reasons such as timely service, better service,
friendly approach, better communication, immediate attention, influence of friends and
relatives as agents.
• Aged people have more concern for economic factors compared to youngsters while
studying the reasoning for private policy preference. All other factors like service, human
relations, product and comfort do not vary significantly based on age though the reasoning
levels are high.
• Income, gender, experience with private insurance co., do not exert any significant level of
difference relating to the factors like service, human relations, economic, comfort and
product.
• Respondents who are experiencing both private and government policies find that the
private insurance schemes are more attractive.
• The most important means of creating awareness are agents, friends, relatives and
advertisements.
• Only 47.5 per cent of the respondents are found to be willing to recommend private
insurance but 80 per cent of them are willing to opt for private policies in the future.
• Customers are found to highly satisfied with service facilities, human relations and
attractive schemes.
• Age and income did not exert any significant level of difference in the satisfaction level of
the customers regarding service, product, human relations, economic factors and comfort.
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RECOMMENDATION
There are certain flaws existing in this working of the insurance industry. There are some of the
recommendation we ad come up with while doing this project. It will help to make insurance more
important sector in today’s economy.
The need of the hour is to devise a comprehensive strategy that will help the firms face the
challenges of the future. The financial services industry around the world over is undergoing a
major transformation. It is very important that trained marketing professionals who are able to
communicate specific features of the policy should sell the policy.
From our research we could find out that people are not aware about the policies and features of
insurance. Therefore LIC and Reliance are recommended to shed light on policies and explain the
benefits, thus increasing the awareness.
The penetration of insurance in India is around 22%. This indicates that a vast majority of rural
population is not covered. The market player needs to explore this untapped potential through their
marketing and sales network.
The returns of the policies are not properly managed and never given in time. So, these must be
looked at.
Pricing of insurance products, as empirically available in India, shows that pricing is not in
consonance with market realities. Life Insurance premium is generally perceived, as being too high
while general insurance (especially motor insurance) is priced too low.
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BIBLIOGRAPHYBIBLIOGRAPHY
The various sources from where I collected data’s are as follows.
• Internet Sites:
http://www.reliancelife.co.in/website/our_founder.asp
http://www.reliancelife.co.in/website/aboutus.asp
http://www.reliancelife.co.in/website/products/reliance_automatic_investment_plan.asp
http://www.reliancelife.co.in/website/products/reliance_money_guarantee_plan.asp
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QUESTIONNAIRE
1. ARE YOU EMPLOYED?
YES NO
If YES, only then proceed
2. DO YOU HAVE ANY INSURANCE POLICY?
YES NO
3. WHICH INSURANCE POLICY DO YOU HAVE?
LIFE NON-LIFE BOTH
4. WHICH CO’S INSURANCE POLICY YOU PREFER THE MOST?
(RANK THEM)
a) LIC
b) ICICIPRUDENTIAL
c) SBI LIFE INSURANCE
d) ING VYSYA LIFE
e) RELIANCE LIFE INSURANCE
f) TATA AIG LIFE
g) ANY OTHER ________( Specify)
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5. FOR HOW MANY YEARS DO YOU HAVE INSURANCE POLICY?
(Please Tick)
a) <5Yrs b) 5-10 Yrs c) 10-15 Yrs d) Any Other______
(Specify)
6. WHAT DO YOU THINK ARE THE BENEFITS OF INSURANCE COVER ?
(RANK THEM)
a) COVER FUTURE UNCERTAINITY
b) TAX DEDUCTIONS
c) FUTURE INVESTMENT
d) ANY OTHER _________ (Specify)
7. WHICH FEATURE OF YOUR POLICY ATTRACTED YOU TO BUY IT?
(RANK THEM)
a) LOW PREMIUM
b) LARGER RISK COVERANCE
c) MONEY BACK GUARNTEE
d) REPUTATION OF COMPANY
e) EASY ACCESS TO AGENTS
f) ANY OTHER _________ (Specify)
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8. YOUR MONTHLY INCOME?
a)<4k b)4k-8k c)8k-12k d)12k-16k e)Other_____(Specify)
9 . DO YOU REALLY THINK INSURANCE POLICY COVER IN TODAY’S
SCENARIO IS NOT ESSENTIAL?
_____________________________________________________
10. WHAT’S YOUR PERCEPTION ABOUT RELIANCE LIFE INSURANCE?
(RANK THEM)
a) A SAVING TOOL
b) A TAX SAVING DEVICE
c) A TOOL TO PROTECT FUTURE
11. HOW HAS/WOULD YOU BOUGHT/BUY AN RELIANCE LIFE INSURANCE?
a) CUSTOMER APPROCHED INSURANCE COs
b) INSURANCE COs APPROCHED CUSTOMER
12. ARE YOU SATISFIED WITH THE RELIANCE LIFE POLICY?
a) SATISFIED SAVING TOOL
b) NOT SATISFIED
c) NOT RESPONDING
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13. ARE YOU SATISFIED WITH THE RELIANCE LIFE SERVICE AGENT?
a) SATISFIED SAVING TOOL
b) NOT SATISFIED
c) NOT RESPONDING
14 DO YOU PAY TAXES?
YES NO
15. WHAT’S THE RIGHT AGE TO BUY INSURANCE?
a) AFTER 25 Yrs
b) AFTER 35 Yrs
c) AFTER 45 Yrs
d) ANYTIME
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16.HOW WOULD YOU RATE INDIAN INSURANCE COs?
a) RIGID PLANS
b) NON-USER FRIENDLY
c) UNSATISFATORY SREVICES
d) NON-AGGRESSIVE
e) SATISFACTORY
f) GOOD
g) VERY GOOD
17 . ARE YOU PLANNING FOR NEW INVESTMENTS?
PLANNING NOT PLANING
18. WOULD YOU GO FOR INSURANCE IF RELIANCE LIFE SERVICE PROVIDER
AWAY FROM THE CITY OFFERS BETTER SERVICE & PRODUCTS?
a) YES
b) NO
c) UNCERTAIN
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THANK YOU
NAME:_________________________
ADDRESS:______________________
______________________________
OCCUPATION: ___________________
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