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INRODUCTI

ON

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HISTORYThe history of life insurance in india dates back to 1818hen I as concei!ed as a "eans to #ro!ide for $n%lishindos& Interestin%ly in those days a hi%her #re"iu"

as char%e for India li!es that non'India li!es( as Indian

li!es ere considered "ore risky for co!era%e&

The )o"bay *utual +ife Insurance Society started itsbusiness in 18,- & It as the .rst co"#any to char%e

sa"e #re"iu" for both Indian and non'Indian li!e& The

oriental /ssurance Co"#any as establishin% in 188-&

The .rst %eneral insurance co"#any' Tital Insurance

Co"#any +i"ited as established in 180-&

Insurance re%ulation for"ally be%an in India ith the

#assin% of the life insurance co"#anys act of1213 and the #ro!ident fund act of 1248 & Se!eral

frauds durin% 3-s and 4-s sullied insurance

business in India& )y 1248 there ere 1,5

insurance co"#anies & The .rst co"#rehensi!e

le%islation as introduced ith the insurance /ct of

that 1248 that #ro!ided strict state control o!er

insurance business& The %o!ern"ent of India in

1205 ( nationali6ed "ono#oly coo#eration and +ICas born& This as in confor"ity ith the

%o!ern"ents chosen #art of state lead #lannin%

and de!elo#"ent&

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7ith this nearly 1-, insurer ere a"al%a"ated and

%rou#ed into four co"#anies'National Insurance

Co"#any( Ne India /ssurance Co"#any (Oriental

Insurance Co"#any and United India InsurranceCo"#any& These ere subsidiary of the %eneral

insurance co"#any 9IC:&

;R$S$NC$ SC$N/RIO O< TH$

INSUR/NC$ S$CTOR+iberali6ation co""it"ents of the country to hel# in

disci#linin% future econo"ic #olicies ill include

the insurance refor"& 7hen the ord o!er(

insurance( "arkets ha!e been o#ened u#( India

cannot re"ain in isolation& 9lobali6ation is the ne

econo"ic reality( 7hich is here to stay heraldin% a

ne era of insurance in india& 7ith the o#enin% ofthe insurance industry( India stands to %ain the

folloin% "a=or ad!anta%es>

1. 9lobali6ation ill #ro!ide i"#ro!ed to the

custo"ers for better #roducts( ith "ore

reasonable and a?ordable #ricin%&

2. The custo"er ill %et @uicker ser!icin%&3. It ill enhance the sa!in% rate&4. +on%'ter" funds for infrastructure de!elo#"ent

ill be a!ailable to the country&5. It ill secure for India lar%er inAos of forei%n

ca#ital needed to sustain our 9D; %roth&

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INDUSTRYOB$RBI$7

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7H/T IS INSUR/NC$Insurance is a le%al contract that #rotects #eo#le fro"

the .nancials costs those result fro" loses of life( loss

of health( lasuits( or #ro#erty da"a%e& Insurance

#ro!ide a "eans for indi!iduals society to co#e u#

ith so"e of the risks faced in e!eryday life by

e!erybody&

;eo#le #urchase contracts of insurance( called a #olicy(

fro" !arious insurance co"#anies&

+ife insurance is a contract for #ay"ent of su" of

"oney to the #erson assured on the ha##enin% of

the e!ent insured a%ainst& Usually the contracts

#ro!ide for the #ay"ent if an a"ount on the date

of "aturity or at unfortunate death& The contracts

also #ro!ide for #ay"ent of #re"iu" #eriodically

to the cor#oration by the assured&

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I*;ORT/NT

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If you are "arried ithout children or sin%le( then you

"ay need life insurance to #rotect your #artner of

sur!i!in% fa"ily "e"bers a%ainst the costs

associated ith your death& /nd( they can add u#@uickly& Unless you already ha!e suFcient .nancial

resources( your sur!i!ors ill #robably need life

insurance to co!er these eG#enses& /lon% ith your

sa!in%s and in!est"ents strate%y( but your death

can be costly to your lo!ed ones& /t the !ery least(

there ill be funeral and burial costs& There "ay

also be estate taGes and outstandin% debts to #ay(

such as "edical eG#enses not co!ered by healthinsurance& If you ha!e de#endents( they ill ha!e

to co#e u# ith these costs hile no lon%er ha!in%

your inco"e to rely on& The #roceeds fro" a life

insurance #olicy can be of tre"endous !alue at

this ti"e&

/DB/NT/9$S O< +I

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1& It is su#erior to an ordinary sa!in% #lan> Unlike

other sa!in% #lans( if a?ords full #rotection a%ainst

risk of death( the full su" assured is "ade

a!ailable under a life assurance #olicy hereasunder sa!in% sche"e the total accu"ulated sa!in%

alone( if death occurs durin% early&3& $asy settle"ent #rotection a%ainst creditors> The

life assured can na"e #ersons: called No"inee to

ho" the #olicy "oney ould be #ayable in the

e!ents of his death& The #roceeds a%ainst the

clai" of creditors life assured by e?ectin% a !alid

assi%n"ent of the #olicy&4& Ready "arketability suitability for @uick

borroin%> /fter an initial #eriod( if the #olicyholder

.nds hi" unable to continue #ay"ent of

#re"iu"s( he can surrender the #olicy for a cash

su"& /lternati!es( he can tide o!er a te"#orary

diFculty by takin% loan on the sole security of the

#olicy ithout delay& '1' The India Inco"e' TaG allos deduction

of certain #ro#ortion of the taGable inco"e( hich

is di!erted to #ay"ent of life insurance #re"iu"s

fro" the total inco"e taG liabilities& 7hen this taG

relief is taken into account( it ill be found that the

assured is in e?ectin% #ayin% a loer #re"iu" forhis insurance&

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CO*;/NY

;RO

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)irla Sun +ife Insurance Co"#any +i"ited is a

=oint !enture beteen& The /ditya )irla 9rou#

and Sun +ife

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S/+$S CH/NN$+

)IR+/ SUN+I

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!"# $%&'()# &' *+ *-(S&%

ualication

The #erson "ust be

)e at least 18 years old&

*ust ha!e #assed atleast 13thstandard or "ore&

Ha!e Under%one trainin% for at least 1-- hours in life or

%eneral insurance business as the case "ay be fro" an

institute( a##ro!ed noti.ed by authority&

Should ha!e also #assed the #re'recruit"ent eGa"inationconducted by the Insurance of India or any other

eGa"ination body reco%ni6ed by the authority& 9ood con!incin% co""unication skills&

/harges 0 fees

)irla Sun life Insurance Char%es Rs&13-- refundable: for the

1-- hours Trainin% #ro%ra"& This a"ount ill be de#osited onthe .nali6ation of beco"e an insurance ad!isor&

/fter the trainin% #ro%ra" is co"#leted in Insurance ad!isor

has to a##ear for the #re'eGa"ination by IRD/& /s he clear the

eGa" he #ro!ides a license( hich is the #roof of a le%ali6ed

insurance ad!isor( hich #er"its hi" to deal in his insurance

business&

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R$LUIR$D *OB$S

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1&B $%&'()#

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Benets 2 Support $rovided

The bene.ts ha!e already been "entioned !ery often

in the #re!ious section but its necessary to look into

the" as a co"#rehensi!e criterion& The "ain bene.ts

su##ort that an ad!isor ould be a!ailin% of are the

district )irla Sun life Insurance&

%ewarding /areer

The =ob #ro.le as "entioned earlier is unli"ited an

ad!isor ill hel# #eo#le reali6e their drea" #ro!ide

the .nancial ;sycholo%ical security faith& The

ulti"ate reard ill be di?erences "ade to all these

li!es that ould be "ost satisfyin% in the sense&

Successful !eam

)ein% at )irla Sun +ife %i!es the o##ortunity to be a

#art of indias best tea" of life insurance ad!isors& The

co"#any in nu"erous uno a"on% the #ri!ate #layer in

the industry has on nu"erous reco%nition aards

that %i!es it the international ed%e&

*ttractive %emuneration

)irla Sun +ife O?ers the "ost co"#etiti!e re"uneration

bene.ts at #erson in the industry( hich #ro!ides to be

!ery useful fro" lon%'ter" #res#ecti!e of .nancialsecurity& There is absolutely no li"it to ones earnin%s

the added incenti!es =ust hel# as ad!isor to %et "ore

than hat he M she eG#ects&

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$Gtensi!e ;roduct ;ortfolio

The co"#any has %ot "ore than four hundred #oliciesfor its custo"er& This consists of the uni@ue indi!iduals(

%rou# rider #olicies& This eGtensi!e di!ersi.ed

co"#rehensi!e ran%e #ro!ides the co"#etiti!e ed%e

that no other ad!isor ould be ha!in% in the "arket&

'inancial Strength

)irla Sun +ife o?ers the ad!isor the

Custo"ers(

Un"atched .nancial stren%th solidity &The hu%e

a"ount #aid u# ca#ital %roin% re!enues are an

indicator of the sa"e&

Support $rovides by the 3nit

Manager

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;RODUCT

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;RO)& SO+&

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9IS

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7hile tra!elin% in authori6ed "ass trans#ort !ehicle(

the bene.ciary ill be entitled to tice the su" assure

as additional bene.ts&

/ccidents )ene.ts> This rider o#tion #ays the su"assured the rider on death due to accident&

Critical Illness )ene.ts> ;rotect the insured a%ainst

.nancial loss on the e!ent of 2 s#eci.ed critical

illness & )ene.ts are #ayable to the insured for

"edical eG#enses #rior to death&

*a=or Sur%ical /ssistance )ene.ts> ;ro!ides .nancial

su##ort in the e!ent of "edical e"er%encies(

ensurin% bene.ts are #ayable to the life assured for

"edical eG#enses incurred for sur%ical #rocedures&

Co!er is o?ered a%ainst 4 sur%ical #rocedures&

Inco"e )ene.ts> this rider #ays the 1-0 of the su"

assured to the no"iee e!ery year( till "aturity ( inthe e!ent of death of the life assured( it is a!ailable

on s"art kid (secure #lus and cash #lus&

7a!ier of #re"iu" > In case of total and #er"anent

disability due to an accident( the #re"iu"s are

a!ier till "aturity& This ride is a!ailable ith secure

#lus and cash #lus&

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of "oney &If an ad!isor "ake #lan on this se%"ent

of society than he can earn %reat "oney& So I co"e

to the conclusion that the a%e %rou# of 3- to 30

years a%e is the best #ro.le for ad!isors& Thead!isor ho has 3 or 4 years eG#erience of sales

"arket and decent co""unications skills ill an

edit ad!anta%e to the #ro.le of ad!isors&

S#)#/!(&+ $%&/#3%#

ST$;S

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o? the =ob trainin%&

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9RI$B/NC$ H/ND+IN9

Today e!ery or%ani6ation has "any #roble" relate

to the %rie!ance beteen the e"#loyers and in

beteen e"#loyees also& /nd they "ake e?orts for

sol!in% the #roble"s&

)irla Sun +ife also "ake e?orts to handle this

%rie!ance&

$!ery Saturday they or%ani6e a "eetin%&

*e"bers of the "eetin% discuss about the

#roble"s reasons and reach on #ro#er decision of

that #roble"&

;$R

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)irla Sun +ife also do #erfor"ance a##raisal of

e"#loyees&

They %i!e the o##ortunity to each of theire"#loyees and e!ery year they #re#are a check

list for their #erfor"ances and they %i!e a##raisal

for their #erfor"ance&

/##raisal can be ter"s of "onetary or non

"onetary&

S$/RCH /ND

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S#*%/" *+ '(5 /%(!#%(* *B&3! S3(!*B)#

$%&'()# &'

(+S3%*+/# S*)#S )IR+/ SUN +I

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M#!"&&)&46

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&B1#/!(-#S &' S!36

!"# &B1#/!(-#S *%#

1&TO $B/+U/T$ TH$ R$CRUIT*$NT ;ROC$DUR$ O/%e 30'- years

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/t least one year of orkin% in the syste"Cash count should be at least of to #er "onth

TH$ *O)I+$ TI9$RS

This #ro%ra" o?ers the folloin% bene.ts>;art ti"e career as a trainee

To conduct foundation #ro%ra"O##ortunity to share the best .eld #racticesChance to re#licate ones on business/%e 30'- years

/t least siG "onth of orkin% in the syste"Case count should be at least to #er "onth

TH$ $(++*/)# $%&4%*MThe #ro%ra" is for the the hi%h achie!ers in the

"a=or bene.ts o?er are as folloin%>/ full ti"e career as a Unit *ana%ers

The #ossibility of %roth ithin ICICI ;rudential9reater earnin% #otentials

The sco#e for #ersonal de!elo#"ent

The selections criteria for this #ro%ra" are>/%e 30'- years/t least siG "onth of orkin% in the syste"Case count should be at least to #er "onth

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The selections criteria for this #ro%ra" are>

/%e 30'- years

/t least siG "onth of orkin% in the syste"

Case count should be at least .!e #er "onth for 5

"onths:

*4#+/6 /"*M$(&+This is the hi%hest le!el of career #ro%ression

on o?er& It has %ot se!eral distinct features(

hich sets it a#art fro" all the abo!e

"entioned #ro%ra"s& This #ro%ra" ai"s at

reardin% the su#er'achie!ers orkin% ith

the co"#any& The features of this #ro%ra"

are as follos>

The chance of takin% ones business tohi%her lebel

To de!elo# ones on business( i&e& to

de!elo# into an entre#reneurThe freedo" of recruitin% ne ad!isors and

"akin% ones on tea"The #otential of increased reach of netork&

The selections criteria for this #ro%ra" are>

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/t least one year of orkin% in the syste"*ini"u" of 45 #olicies Rs& 4&5- lacs #re"iu"Selection #rocessassess"ent center:

CO**ISION STRUCTUR$The #roduction tar%ets shall be s#lit into to

sta%es>1&*ini"u" business %uarantee *)9:3&)onus tar%et

*ini"u" )usiness 9uarantee

The "ini"u" business that has to be achie!ed

$!ery @uarter re@uired to sell at least three #olicies

collect Rs& 3-(--- as

;roduction le!el #er @uarter )onus #er

@uarter

-'33(0-- Nil

33(0-1'40--- 1-J of base

co""ission

40(---'abo!e -J of baseco""ission

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/&+/)3S(

&+

CONC+USION1& )IR+/ SUN+I

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3&There are lot of sco#e of life insurance in India

only 3&0 #eo#le secure ith life insurance sector

is itsbooming stage this boom will more

increase in ; or < years.

4& 9ood #ro.le insurance ad!isor could do thebetter =ob& If )IR+/ SUN +I

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/

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)I)+IO9;R/;HY

)I)+IO9;R/;HY

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B&&8S %#'#%#

R/*/S7/*I N/*/U*/RI> */R$TIN9

*/N/9$*$NT( 3--2 */C*I++I/N( N$7 D$+HI

SU*/THI> */R$TIN9 R$S$/RCH /ND CONSU*$R)$H/BIOUR( BI/S ;U)& HOUS$( ;9 30-'358

7#B S(!#S

&icicirulife&co"

&i#ruuni!erse&co"

&icici&co"

&irdaindia&co" &indiacore&co"

&"aGneyorlife&co"

&%oo%le&co"

&hdfcinsurance&co"

&licindia&co"

http://www.icicirulife.com/http://www.ipruuniverse.com/http://www.icici.com/http://www.irdaindia.com/http://www.licindia.com/http://www.ipruuniverse.com/http://www.icici.com/http://www.irdaindia.com/http://www.licindia.com/http://www.icicirulife.com/

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/;;$NDI

3#S!&++*(%#9?

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;UR;OS$> TO ;RO*OT$ TH$ CONC$;T O< INSUR/NC$

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