Bajaj allianz

A PROJECT REPORT ON

³A STUDY OF STRATEGY AND FUNCTIONING OF FIELD FORCES IN BAJAJ ALLIANZ´ BY

³BAJAJ ALLIANZ LIFE INSURANCE Co. Ltd.´

A Report submitted in the partial fulfillment of the requirements of PGDM program.

Submitted to: -

Prof. P.K. Agarwal

Director, IIMT Professional College, Meerut

IIMT PROFESSIONAL COLLEGE, MEERUT

IIMT PROFESSIONAL PROFESSIO NAL COLLEGE, MEERUT

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COMPAMY CERTIFICATE


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COMPAMY CERTIFICATE


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GUIDE CERTIFICATE


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CANDIDATE¶S DECLARATION

I do hereby declare that the piece of desertion report entitled ³A Study Of Strategy And Functioning Of Field Forces In Bajaj Allianz´ has been prepared by me

Under the avid guidance and supervision of Mr. Madhukar Jee Madhu (Branch Manager)

Bajaj Allianz Life Insurance Limited, Gaya as a part fulfillment

Requirement of the Degree in Post Graduate Diploma In Management during the session 2009-2011.To the best of my knowledge and believe, this is my own work and has not been submitted any where earlier for any other degree.

DATE: PLACE:


SRIKANT RAMANUJAM MO9040

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ACKNOWLEDGEMENT

³No man is indispensable but there are certain mortal without whom the quality work suffers their guidance becomes important in acquiring quality results´.

I express my number of thanks to hon¶ble, Mr. Madhukar Jee Madhu (Branch Manager) , who had given me the precious opportunity of accomplish my summer training at Bajaj Allianz Life Insurance . Under his brilliant untiring guidance I

could complete the project being undertaken on the ³A Study Of Strategy And Functioning Of Field Forces In Bajaj Allianz.´ successfully in time. His attention

and invaluable guidance have helped me in solving the problem involved in the work. I would also like to thank the overwhelming support of all the people who gave me an opportunity to learn and gain knowledge about the various aspects of the industry.

I would like to thanks Dr P.K.Agarwal (Director) and Ms. Swati Gupta (Project P.G.D.M. dept. for their constant encouragement and valuable suggestions Guide) of without which this project would not been successfully completed.

SRIKANT RAMANUJAM Roll NO.-MO9040


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PREFACE As PGDM program is research report oriented, it frequents to the students a lot of opportunities to gather first hand knowledge from industries of repute through study of present working problems and its shuns, preventive measures and probable path of future prospects. Research report gives the students the opportunities to gather practical knowledge from the market, besides bookish knowledge. Likewise that opportunity appeared before me and I had a thorough study of the mutual fund industry in India.

SRIKANT RAMANUJAM ROLL No.: MO9040


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TABLE OF CONTENTS

S. No.

CONENT

1

DECLARATION

I

2

ACKNOWLEDGEMENT

II

3

PREFACE

III

4

EXECUTIVE SUMMARY

1

5

OBJECTIVES

2

6

INTRODUCTION OF INSURANCE

3-4

7

SECTOR PROFILE

5-13

8

COMPANY PROFILE

14-45

9

INTRODUCTION OF TOPIC

46-48

10

RESEARCH METHODOLOGY

49-52

11

DATA ANALYSIS AND INTERPRETATIONS

53-62

12

FINDINGS

63

13

SUGGESTIONS AND RECOMMENDATIONS

64

14

CONCLUSION

65

15

LIMITATIONS

66

16

BIBILIOGRAPHY

67

17

ANNEXURE


PAGE NO.

68-79

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EXECUTIVE SUMMARY To maintain and cope up with the growing competition from the various Life Insurance Companies, Bajaj Allianz needs to make new sales strategy and should strengthen field forces.

This research Project was started with making to meet with the insurance care consultants and seek information through questionnaire and in formal interview; finally converting that leads into potential business. In the process I used to face a lot of queries and arguments regarding the performance and sales promotion technique of Life Insurance Company. To overcome this problem my project leader helped me to a big stand by not imparting deep product knowledge and answers to the consultant¶s queries but also by giving his continuous encouragement, invaluable help and guidance.

This conclusion drawn is based on the observations and facts collected from the respondents and from the various sources of secondary data. As a whole, my efforts were to give a consolidated picture for the study. I expect my work would at least act as a source further scope to the company, with this I whole heartily hand over my project hours to you.


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OBJECTIVES OF THE STUDY  To study the sales promotion strategy of field force of Bajaj Allianz Life

Insurance.

 To know about product and services offered by Bajaj Allianz Life Insurance

Company.

 To study the process of selling of I nsurance Policies by Advisors.

 To know the view of advisors t owards promotional tools.

 To know the proper working in the insurance sector.


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INTODUCTION OF INSURANCE

Why is insurance necessary? The question contains the answer within itself. After all, life is fraught with tensions and apprehensions regarding the future and what it holds for the individual. Despite all the planning and preparation one might make, no one can accurately guarantee or predict how or when death might result and the circumstances that might ensue in its a ftermath. We are not saying that life and existence are constantly fraught with danger and uncertainty. But then it is essential that you plan for the future. The chances for a fatality or an injury to occur to the average individual may not be particularly high but then no one can really afford to completely disregard his or her future and what it holds. People generally regard insurance as a scheme when and where you have to lose a lot to gain a little. Nevertheless, insurance is still the most reliable tool an Sindividual can use to plan for his future. And just why is it necessary to plan for the future with Insurance?

AN OVERVIEW

Insurance business is divided into four classes:

1) Life Insurance business 2) Fire 3) Marine 4) Miscellaneous Insurance. Life Insurers transact life insurance business; the rest is transacted by General Insurers. No composites are permitted as per law. The business of Insurance essentially means defraying risks attached to any activity over time (including life) and sharing the risks between various entities, both persons and organizations. Insurance companies (ICs) are important players in financial markets as they collect a nd invest large amounts of premium.


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Insurance products are multi purpose and offer the following benefits:

1. Protection to the investors 2. Accumulate savings 3. Channelize savings into sectors needing huge long term investments.

ICS receive, without much default, a steady cash stream of premium or contributions to pension plans. Various actuary studies and models enable them to predict, relatively accurately, their expected cash outflows. Liabilities of ics being long-term or contingent in nature, liquidity is excellent and their investments are also long-term in nature. Since they offer more than the return on savings in the shape of life-cover to the investors, the rate of return guaranteed in their insurance policies is relatively low. Consequently, the need to seek high rates of returns on their investments is also low. The risk-return trade off is heavily tilted in favor of risk. as a combined result of all this, investments of insurance companies have been largely in bonds floated by goi, psus, state governments, local bodies, corporate bodies and mortgages of long term nature. The last place where insurance companies are expected to be over-active is bourses. Lately ics have ventured into pension schemes and mutual funds also. However, life insurance constitutes the major share of insurance business. Life insurance depends upon the laws of mortality and there lies the difference between life and general insurance businesses. Life has to extinguish sooner or later and the claim in respect of life is certain. in case of general insurance, however, there may never be a claim and the amount can never be ascertained in advance. Hence, life insurance includes, besides covering the risk of early happening of an event, an element of savings also for the beneficiaries. Pension business also derives from life insurance in as much as the pension outgo again depends upon the laws of mortality. The forays made by insurance companies in this area are, therefore, natural corollary of their business.


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SECTOR PROFILE INSURANCE IN INDIA

Insurance in India started without any regulations in the nineteenth century. It was a typical story of a colonial era: a few British insurance companies dominating the market serving mostly large urban centers. After the independence, the Life Insurance Company was nationalized in 1956, and then the general insurance business was nationalized in 1972. Only in 1999 private insurance companies were allowed back into the business of insurance with a maximum of 26 per cent of foreign holding (World Bank Economic Review 2000). The entry of the State Bank of India with its proposal of bank assurance brings a new dynamics in the game. On July 14, 2000 Insurance Regulatory and Development Authority bill was passed to protect the interest of the policyholders from private and foreign players.

The following companies are entitled to do insurance business in India. The private insurance joint ventures have collected the premium of Rs.1019.09 crore with the investment of just Rs.3, 000 crore in three years of liberalization. The private insurance players have significantly improving their market share when compared to 50 years Old Corporation (i.e. LIC). As per the figures compiled by IRDA, the Life Insurance Industry recorded a total premium underwritten of Rs. 10,707.96 crore for the period under review. Of this, private players contributed to Rs.1, 019.09 crore, accounting for 10 percent. Life Insurance Corporation of India (LIC), the public sector giant, continued to lead with a premium collection of Rs.9,688.87 crore, translating into a market share of 90 percent. In terms of number of policies and schemes sold, private sector acc ounted for only 3.77per cent as compared to 96.23 per cent share of LIC (The Economic Times, 21 March, 2004).


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The ICICI Prudential topped among the private players in terms of premium collection. It recorded a premium of Rs. 364.9 crore and a market share of 25 per cent, followed by Birla Sun Life with a premium underwritten Rs.170 crore and a market share of 15 percent, HDFC Standard with 132.7 crore and Max New York Life with Rs.76.8 crore with a market share of approximately 15 per cent each.

Unlike their counterpart in the life insurance business, private non-life insurance companies have not yet started addressing the retail market. All is set to change in the coming years. Like in the banking sector, non-life insurance companies will soon have no choice but to focus on individual buyers. In case of private non-life insurance players, that their market share rose to 14.13 per cent, rec ording a growth of 70.75 per cent on an annual basis, while the market share of public sector stood at 85.87 per cent, registering a marginal growth of 6.34 per cent. The overall market has recorded a growth of 12.32 per cent by the end of January 2004. Among the private non-life insurance players, ICICI Lombard topped the list with a premium collection of Rs.403.62 crore in one year period with a market share of 3.05 per cent and with an annual 131.6 per cent, followed by Bajaj Allianz with a premium of Rs.385.02 crore and 2.91 per cent market share and Tata AIG with 300.49 crore premium and 2.27 per cent market share with an annual growth rate of 62.60 per cent. Among the public sector players, New India garnered a market share of 24.38 percent, Rs.3,229.49 crore premium and an annual growth rate of 0.38 per cent, followed by National with a market share of 21.43 per cent, Rs.2,839.11 crore premium and an annual growth rate of 19.88 per cent, United India with a market share of 19.47 per cent (Rs.2,578.83 crore premium) and Oriental with a market share of 18.25 per cent, Rs.2,417.17 crore premium and an annual growth rate of 1.86 per cent. It is significant to note that HDFC Chubb and Cholamandalam have registered annual growth rates of 4030.26 per cent and 1101.20 per cent respectively, whereas New India has registered it as 0.38 per cent. If this trend continues, private insurer would dominate the public sector like New India Insurance Corporation. It is obviously reflect the insurance sector has facing the challenges with foreign counter parties as well as private counter parties and lot more opportunities are prevailing to penetrate the insurance business among the uncovered people and area of India. IIMT PROFESSIONAL COLLEGE, MEERUT

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BRIEF HISTORY OF INSURANCE SECTOR IN INDIA The insurance sector in India has come a full circle from being an open competitive market to nationalization and back to a liberalized market again. Tracing the developments in the Indian insurance sector reveals the 360-degree turn witnessed over a period of almost 190 years.

The business of life insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance C ompany in

Calcutta.

Some of the important milestones in the life insurance business in India are: 1912 - The Indian Life Assurance Companies Act enacted as the first statute to

regulate the life insurance business.

1928 - The Indian Insurance Companies Act enacted to enable the government to

collect statistical information about both life a nd non-life insurance businesses.

1938 - Earlier legislation consolidated and amended to by the Insurance Act with the

objective of protecting the interests of the insuring public.

1956 - 245 Indian and foreign insurers and provident societies taken over by the

central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India. The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British.


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Some of the important milestones in the general insurance business in India are:

1907 - The Indian Mercantile Insurance Ltd. set up, the first company to transact

all classes of general insurance business.

1957 - General Insurance Council, a wing of the Insurance Association of India,

frames a code of conduct for ensuring fair conduct and sound business practices.

1968 - The Insurance Act a mended to regulate investments and set minimum solvency

margins and the Tariff Advisory Committee set up.

1972 - The General Insurance Business (Nationalization) Act, 1972 nationalized the

general insurance business in India with effect from 1st January 1973.

107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.


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NON-LIFE INSURANCE MARKET

In December 2000, the GIC subsidiaries were restructured as independent insurance companies. At the same ti me, GIC was converted into a national r einsurer.

In July 2002, Parliament passed a bill, delinking the four subsidiaries from GIC. Presently there are 12 general insurance companies with 4 public sector companies and 8 private insurers. Although the public sector companies still dominate the general insurance business, the private players are slowly ga ining a foothold.

According to estimates, private insurance companies have a 10 percent share of the market, up from 4 percent in 2001. In the first half of 2002, the private companies booked premiums worth Rs 6.34 billion. Most of the new entrants reported losses in the first year of their operation in 2001.

With a large capital outlay and long gestation periods, infrastructure projects are fraught with a multitude of risks throughout the development, construction and operation stages. These include risks associated with project implementation, including geological risks, maintenance, commercial and political risks. Without covering these risks the financial institutions are not willing to commit funds to the sector, especially because the financing of most private projects is on a limited or non- recourse basis.

Insurance companies not only provide risk cover to infrastructure projects, they also contribute long-term funds. In fact, insurance companies are an ideal source of long term debt and equity for infrastructure projects. With long term liability, they get a good asset- liability match by investing their funds in such projects.

IRDA regulations require insurance companies to invest not less than 15 percent of their funds in infrastructure and social sectors. Inter national Insurance companies also invest their funds in such projects.


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Insurance costs constitute roughly around 1.2- 2 percent of the total project costs. Under the existing norms, insurance premium payments are treated as part of the fixed costs. Consequently they are treated as pass-through costs for tariff calculations. Premium rates of most general insurance policies come under the purview of the government appointed Tariff Advisory Commitee. For Projects costing up to Rs 1 Billion, the Tariff Advisory Committee sets the premium rates, for Projects between Rs 1 billion and Rs 15 billion, the rates are set in keeping with the committee's guidelines; and projects above Rs 15 billion are subjected to reinsurance pricing. It is the last segment that has a number of additional products and competitive pricing.

Insurance, like project finance, is extended by a consortium. Normally one insurer takes the lead, shouldering about 40-50 per cent of the risk and receiving a proportionate percentage of the premium. The other companies share the remaining risk and premium. The policies are renewed usually on an annual basis through the invitation of bids.

Of late, with IPP projects fizzling out, the insurance companies are turning once again to old hands such as NTPC, NHPC and BSES for business.

RE-INSURANCE BUSINESS

Insurance companies retain only a part of the risk (less than 10 per cent) assumed by them, which can be safely borne from their own funds. The balance risk is reinsured with other insurers. In effect, therefore, r e-insurance is insurer's insurance. It forms the backbone of the insurance business. It helps to provide a better spread of risk in the international market, allows primary insurers to accept risks beyond their capacity, settle accumulated losses arising from catastrophic events and still maintain their financial stability.


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While GIC's subsidiaries look after general insurance, GIC itself has been the major reinsurer. Currently, all insurance companies have to give 20 per cent of their reinsurance business to GIC. The aim is to ensure that GIC's role as the national

reinsurer remains unhindered. However, GIC reinsures the amount further with international companies such as Swissre (Switzerland), Munichre (Germany), and Royale (UK). Reinsurance premiums have seen an exorbitant increase in recent years, following the rise in threat perceptions globally.


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LIFE INSURANCE MARKET

The Life Insurance market in India is an underdeveloped market that was only tapped by the state owned LIC till the entry of private insurers. The penetration of life insurance products was 19 percent of the total 400 million of the insurable population. The state owned LIC sold insurance as a tax instrument, not as a product giving protection. Most customers were under- insured with no flexibility or transparency in the products. With the entry of the private insurers the rules of the game have changed.

The 12 private insurers in the life insurance market have already grabbed nearly 9 percent of the market in terms of premium income. The new business premiums of the 12 private players have tripled to Rs 1000 crore in 2002- 03 over last year. Meanwhile, state owned LIC's new pr emium business has fallen. Innovative products, smart marketing and aggressive distribution. That's the triple whammy combination that has enabled fledgling private insurance companies to sign up Indian customers faster than anyone ever expected. Indians, who have always seen life insurance as a tax saving device, are now suddenly turning to the private sector and snapping up the new innovative products on offer.

The growing popularity of the private insurers shows in other ways. They are coining money in new niches that they have introduced. The state owned companies still dominate segments like endowments and money back policies. But in the annuity or pension products business, the private insurers have already wrested over 33 percent of the market. And in the popular unit-linked insurance schemes they have a virtual monopoly, with over 90 percent of the customers.

The private insurers also seem to be scoring big in other ways- they are persuading people to take out bigger policies. For instance, the average size of a life insurance policy before privatization was around Rs 50,000. That has risen to about Rs 80,000.


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But the private insurers are ahead in this game and the average size of their policies is around Rs 1.1 lakh to Rs 1.2 lakh- way bigger than the industry average.

Buoyed by their quicker than expected success, nearly all private insurers are fast forwarding the second phase of their expansion plans. No doubt the aggressive stance of private insurers is already paying rich dividends. But a rejuvenated LIC is also trying to fight back to woo new customers.


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COMPANY PROFILE Bajaj Allianz Life Insurance Co. Ltd. is a 74:26 joint venture between two leading conglomerates- , Bajaj Finsery Limited (recently demerged from Bajaj Auto Limited) and Allianz SE, one of the world's largest insurance companies, leading by Mr. Kamesh Goyal, MD & CEO, Bajaj Allianz Life Insurance.

Allianz AG with over 110 years of experience in over 70 countries and Bajaj Auto, trusted for over 55 years in the Indian market, together are committed to offering you financial solutions that provide all the security you need for your family and yourself.

Bajaj Allianz today has a countrywide network connected through the latest technology for quick communication and response in over 200 towns spread across the length and breadth of the country. From Surat to Siliguri and Jammu t o Thiruvananthapuram, all the offices are interconnected with the Head Office at Pune. Bajaj Allianz today has a network of 142 offices spread across the length and breadth of the country.

VISION



To be the first choice insurer for customers



To be the preferred employer for staff in t he insurance industry.



To be the number one insurer for creat ing shareholder value


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MISSION

As a responsible, customer focused market leader, we will strive to understand the insurance needs of the consumers and translate it into affordable products that deliver value for money. Bajaj Allianz Life Insurance offers technical excellence in all areas of Life Insurance as well as Risk Management. This partnership successfully combines Bajaj Finserv¶s in-depth understanding of the local market and extensive distribution network with the global experience and technical expertise of the Allianz Group.

ACHIVEMENTS

Bajaj Allianz has received ³iAAA rating, from ICRA Limited, an associate of Moody¶s Investors Services, for Claims Paying Ability.This rating indicates highest claims paying ability and a fundamentally strong position. Bajaj Allianz General Insurance has received the prestigious ³Business Leader in General Insurance´, awarded by NDTV Profit Business Leadership Awards 2008. The company was one of the top three finalists for the year 2007 and 2008 in the General Insurance Company of the Year award by Asia Insurance Re view.


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7 P¶S OF MARKETING OF BAJAJ ALLIANZ LIFE INSURANCE

1. PRODUCTS AND SERVICES:

Bajaj Allianz Life Insurance Company Ltd. offers a range of insurance products to its clients. The following insurances ar e offered by the company: Individual Products

1. UNITGAIN 2. RISK CARE 3. TERM CARE 4.

INVESTGAIN

5. LIFETIME CARE 6.

CHILDGAIN

7. LOAN PROTECTOR 8. CASHGAIN 9. KEYMAN INSURANCE 10. SWARNA VISHRANTI 11. UNITGAIN PLUS 12. LIFELONG GAIN PLAN 13. RIDERS UNITGAIN PLUS 14. MAHILAGAIN RIDER 15. UNITGAIN EASY PENSION 16. UG PREMIER

Group Plans

1. GROUP CREDIT SHIELD 2. GROUP TERM LIFE 3. GROUP TERM LIFE SCHEME 4.

GROUP SUPERANNUATION SCHEME

5. GROUP GRATUITY CARE SCHEME


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2. PRICE:

The price structure is based on the type of policies. The price variation has to be kept due to intense competition among private players. Pricing element is very important for Bajaj Allianz as they want to increase market share. The price of Bajaj Allianz policies are made as per keeping the customer in mind.

3. PLACE:

3rd Floor, 349 Business Point, Western Express Highway Road, Andheri(E). The locations of every corporate offices of Bajaj Allianz are magnificent. They locate themselves in a very professional manner. This indicates their corporate approach towards their work. Work culture is also conducive to such environment.

4. PROMOTION:

Huge advertisements on Television and ra dios. Tele-marketing Promotion in front of corporate offic es Internet Marketing Hoardings and brochures

5. PEOPLE:

People are the main assets of financial organization because of service factor attached to it. Here in this case of insurance business, talented and experienced personnel are required. Bajaj Allianz recruits highly intellectual persons with good market knowledge. They also provide training to brief them up about Bajaj Allianz to its new staff members. This is the reason they are No.1 position in General Insurance among private players. They create an emotional commitment and strong two-way relationship between the employees and the Company.


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To have clear performance expectations and a clear return from the Company (working environment, development, reward, career opportunities etc), which helps employees to make a connection between their contribution and the progress made by the Company. To inspire and empower people to achieve their best and reward them competitively for their contribution and provide attractive career opportunities.To build a learning culture which fosters personal development and professional mobility and upholds values of professionalism,innovation, pragmatism, team spirit, integrity.To respect and value individuals, their diversity and support them in their need to balance professional and personal lives.

6. PROCESS:

The prestigious awards itself speaks the s mooth functioning of the insurance activities. They have the highest clai ms paying ability and a fundamentally strong position. They want to be the first choice for insurers in the country. So, they understand unde rstand the insurance needs of the customers and translate it into affordable products that deliver value for money.

7. PHYSICAL EVIDENCE: Physical evidence is the material part of a service. Strictly speaking there are no

physical attributes to a service, so a consumer tends to rely on material cues. There are many examples of physical evidence, including some of the following: a) Business cards b) Internet / Websites c) Furnishings d) Bajaj Allianz Building in Pune e) Internal Infrastructure


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Bajaj Allianz Life Insurance

· Is the fastest growing private life insurance company in India? · Currently has over 3,00,000 satisfied customers · We have customer care centers in 155 cities with 28000 Insurance Consultant providing the finest customer service. · One of India's leading private life insurance companies

Accelerated Growth

Fiscal Year

No. of policies sold

New Business in FY

2001-2002(6mths) 2001-2002(6mths )

2,137

Rs.7

2002-2003

1,15,965

Rs.63.3

cr

2003-2004

1,86,443

Rs.180

cr

2004-2005

2,88,189

Rs.857

cr

2005-2006

7,81,685

Rs.2,717 cr

2006-2007

20,79,217

Rs.4,302 cr

2007-2008

37,44,742

Rs.6,674 cr

2009-2010

54,09,675


cr

Rs.8,043 cr

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Bajaj Allianz bucks the trend with Rs50 cr profit

Bajaj Allianz Life Insurance Co. Ltd posted a profit of Rs.50 cr in the fiscal end march

Avni Raja/CNBC-TV18 Mumbai: India third largest private life insurer, Bajaj Allianz life Insurance Co. Ltd, has posted a profit of Rs.50 crore in the fiscal end march even as rivals posted a consolidated loss of at least Rs.4000 crore.

The rivals include ICICI Prudential Life Insurance Co. Ltd, Reliance Life insurance Co. Ltd, HDFC Standard Life Insurance Co. Ltd, SBI Life Insurance Co. Ltd and Birla Sun Life Insurance Co.


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PRODUCTS

Bajaj Allianz brings to you several innovative products, the details of which you can browse in this section.

TERM CARE

This plan not only offers you life insurance cover at a low cost, but also provides for return of premium on maturity. The premium returns at maturity will be equal to the single premium or the sum total of equivalent annual premium of the Economy Pack (excluding extra premium charged if any). In case of pre-maturity death during the policy term, the full sum assured will be paid to the nominee. The Bajaj Allianz ³Term Care´ plan offers you the convenience of choosing between two premium payment options: 1. Regular Premium Payment: - Premium payment throughout the selected term. 2. Single Premium Payment: - One time premium payment for the selected term at commencement.

Apart from covering the risk of natural death, t his plan also provides you the option to choose up to 5 additional benefits. You can select a specific combination of additional benefits best suited to your needs, available in 4 attr active forms:


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 Economy: - This is the basic plan, which is available for both the regular

and single premium payment options.

 Protect: - This package comes with the following 3 in-built additional

benefits: y

Accidental Death Benefit

y

Accidental Permanent Total/Partial Disability Benefit

y

Waiver Of Premium Benefit

The

protect

pack

is

available

with

the

regular

premium

payment option only.

 Health: - This pack comes with the following 2 in-built additional benefits: y

Critical Illness Benefit

y

Hospital Cash Benefit

The health pack is available with the regular premium payment option only. 

Total: - This pack comes with the following 5 in-built additional benefits: y

Accidental Death Benefit

y

Accidental Permanent Total/Partial Disability benefit

y

Waiver Of Premium Benefit

y

Critical Illness Benefit

y

Hospital Cash Benefit

The total pack is available with the regular premium payment option.


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UNIT LINKED INSURANCE PLAN

UNIT GAIN PLUS

With Bajaj Allianz Unit Gain SP you can invest in one life insurance plan that can take care of all your changing requirements throughout your life. This plan has been designed to provide you maximum flexibility, so that you do not have to worry about your changing needs. This policy offers you the unique option of combining the protection of life-insurance with the attractive prospect of investing insecurities. You can choose the investment funds where you want to invest your money, providing you with an opportunity to have a direct stake in the performance of the financial markets. It also benefits attractive tax advantages and can protect your loved ones against unfortunate events. The five funds offered are as under:-

1. Equity Fund- This fund provides the scope of high appreciation over a long term. The fund will primarily invest in equities and is expected to match returns given by NSE NIFTY. This fund will invest at least 90% in equities & maximum 10% in cash. 2. Equity Gain Fund - The investment objective of this fund is to provide capital appreciation through investment in selected equity stocks that have the potential for high capital appreciation. This fund will invest at least 90% in equities & maximum 10% in debt & cash instrument.


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3. Debt Fund - This fund provides the scope for steady returns at low risk through investment in high quality fixed income securities. This fund will be invested fully in debt instruments. 4. Balanced Fund - The balanced fund is primarily for those who prefer a nix of steady returns & growth. The balanced fund will invest 30% to 50% in the equity fund and 50% to 70% in the debt fund.

5. Cash Fund - The cash fund will invest conservatively in money market & short term investment to ensure that return on investment shall never be negative. 100% of this fund will be invested in money market instruments.

Key Features:  Guaranteed death benefit.  Choice of 5 investment funds with flexible investment management

that you can change at any time.  Attractive investment alternative to fixed interest securities.  Convenient single premium payment, with option to pay top-ups later.  100% of the single premium/ top-ups are allocat ed.  Provision for full/partial withdrawals any time after the single

premium is paid.

The 5 funds available for investment are:

1. Liquid Pension Fund: - The investment objective of this fund is to have a fund that protects invested capital through investment in liquid money market and short-term instruments. 2. Bond Pension Fund : - The investment objective of this fund is to provide accumulation of income through investment in high quality fixed income securities.


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3. Equity Growth Pension Fund: - The investment objective of this fund is to provide capital appreciation through investment in select equity stocks that have the potential for capital appreciation. 4. Equity Index Fund II: - The investment objective of this fund is to provide capital appreciation through investment in equities forming part of NSE NIFTY. 5. Accelerator Mid-Cap Pension Fund: - The investment objective of this fund is to achieve capital appreciation by investing in a diversified basket of midcap stocks and large cap stocks. 6. Asset Allocation Pension Fund: - The investment objective of this fund will be to realize a level of total income, including current income and capital appreciation, which is consistent with reasonable investment risk. The investment strategy will involve a flexible policy for allocating assets among equities, bond and cash. The fund strategy will be to adjust the mix between these assets classes to capitalize on the changing financial markets and economic conditions. The fund will adjust its weights in equity, debt and cash depending on the relative attractiveness of each asset class


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UNIT GAIN PLUS µGOLD¶

This plan takes care of your insurance and investment requirements for life. This plan has formulated a unique combination of protection and prospects of attractive returns with investment in various mix of securities to make a perfect plan to last you a lifetime of prosperity and happiness. Premiums paid by you, net of premium allocation charge, are invested in funds of your choice and units are allocated depending on the unit price of the funds. The value of your policy is the total value of units that you hold in the funds. The insurance cover charges, policy administration charges and the additional rider benefit charges (if any) are deducted through monthly cancellation of units. Fund Management Charge is priced in the unit value.

Minimum Sum Assured = 5 times Annualized premium, OR half of the Policy Term times Annualized Premium, whichever is higher.

Bajaj Allianz offers you a choice of six investment funds as given below: 1. Asset Allocation Fund: - The investment objective of this fund will be to realize a level of total income, including current income and capital appreciation, which is consistent with reasonable investment risk. The investment strategy will involve a flexible policy for allocating assets among equities, bonds and cash.

2. Liquid Fund: - The investment objective of this fund is to have a fund that protects the invested capital through investments in liquid money market and short-term instruments.

3. Bond Fund: - The investment objective of this fund is to provide accumulation of income through investment in high quality fixed income securities.


Page 33

4. Equity Growth Fund: - The investment objective of this fund is to provide capital appreciation through investment in selected equity stocks that have the potential for capital appreciation.

5. Equity Index Fund II: - The investment objective of this fund is to provide capital appreciation through investment in equities forming part of NSE NIFTY.

6. Accelerator Mid-Cap Fund: - The investment objective of this fund is to achieve capital appreciation by investing in a diversified basket of mid-cap stocks and large cap stocks.

Key Features:  Guaranteed life cover, with a flexibility to choose insurance cover

according to your changing needs.  Presenting a unique investment µAsset Allocation Fund¶ wherein you

have not to worry to switch funds in case market condition changes.  A host of optional additional rider benefits which includes assuranc e to

your family with family income benefit and waiver of premium benefit.  Flexibility of partial withdrawals at any time after three years from

commencement of the policy provided three full years premiums are paid.


Page 34

TRADITIONAL PLANS

INVEST GAIN

It takes only a moment promises and a lifetime to keep them. Keeping promises made to your loved ones is not just a responsibility, but a commitment that you have to live up to. When you promise to see your family through thick and thin you need to make sure that you have planned for all the eventualities that may befall on them. You need to be prepared that even if there ever is an instant that you are not there with t hem you have saved enough to see them through their entire life. We understand this need, which is why we have developed BAJAJ ALLIANZ¶s INVESTMENT GAIN, the plan that helps you in saying ³My family ,May you always be happy!´ You can select the unique family income benefit from Bajaj Allianz that ensures total financial protection for your loved ones. In case of death or acci dental total permanent disability, a guaranteed monthly income of 1% of the sum assured (12% per annum) is paid till the end of the policy term or at least for a period of 10 years, whichever is higher. Moreover, all future premiums are waived. You have the option to add the following additional benefits, providing total protection against uncertainties.  Family income benefit (FIB) - as already described.  Comprehensive Accident Protection- This benefit provides comprehensive

cover in case of the accident. It comprises of:-


Page 35

i.

Accidental death benefit - Accidents are always sudden and

sometimes fatal. You cannot lessen the emotional shock, but you can certainly soften the financial one. Bajaj Allianz Accidental death gives the ones something to start with after the permanent loss of income by paying an amount equal to the Sum Assured. (Subject to a maximum of Rs.5000000/- under all policies with Bajaj Allianz taken together).

ii.

Accidental Permanent Total/Partial disability Benefit- Accidents

are unpredictable, and so are the consequences. This benefit provides a financial cushion against such misfortunes. You will get 50% of the Sum Assured in case of partial disability and 100% in case of total disability.

 Waiver of Premium Benefit- An accident may lead to permanent total

disability, limiting one¶s ability to earn. Bajaj Allianz Waiver of premium benefit is a helping hand when one needs it most. It waiver of all future premium while keeping the valuable life insurance cover alive, thus enabling you to live up to your commitments.

 Critical Illness benefit (CI) - Some illness is critical. They not alter one¶s

life¶s pattern but also result in a financial drain. Bajaj Allianz critical illness benefit softens the impact on the family by paying out the critical illness benefit under the plan immediately, while other policy benefit continues.

 Hospital Cash Benefit (HC) - The worry of setting hospital bill (room

charges) adds to the trauma of hospitalization. Bajaj Allianz Hospital Cash Benefit this financial burden and helps recovery with peace of mind.


Page 36

At Bajaj Allianz, we believe in offering benefits and not adjust products. We realize that you are unique and your needs for insurance vary with time. We therefore offer you the flexibility of inclusion of coverage and exclusion of coverage at each policy anniversary, subject to conditions relating to s uch inclusion and exclusion.


Page 37

LIFE LONG GAIN

The Bajaj Allianz Life Long Gain Plan comes with a host of features to allow you to have the best of all words-regular income for you and the added benefit of providing for your loved ones too. This is the perfect plan to take care of ongoing and future family expenses like debts, expenses on children etc. It can also take care of unforeseen expenses like accidents, illness etc.

The premiums paid are invested in the Life Long Gain fund & units are allocated depending on the offer price of units for the fund. The value of your policy is the bid value of units that you hold in the fund. The life insurance cover charges are deducted monthly cancellation of units, the fund administration charges and fund management charges are priced in the unit value. Benefits Available Under This Plan Are:  Death Benefit:In case of unfortunate death the beneficiaries are entitled to

the greater of: i. ii.

Sum Assured less partial withdrawals The bid value of units. If the age of the insured person is less than 7 or above 70, then the bid value of units is paid.

 Guaranteed Survival Benefits: Guaranteed Survival Benefits are available

under this policy. Bajaj Allianz Life Insurance will pay, by cancellation of units in the account of the policy, 3% of the Sum Assured every year after the premium payments are over till the ter mination of the policy.

 This guaranteed amount is payable every year provided all premiums have

been paid and no partial withdrawals are affected. If any partial withdrawal were made, the guaranteed survival benefit would be 3 % of (Sum Assured less partial withdrawals) for the subsequent policy every years, if the partial withdrawals made are equal to the Sum Assured, then the guaranteed survival benefit will become nil, and funds in the account will be available to you for full/ partial withdrawals as and when you need them. IIMT PROFESSIONAL COLLEGE, MEERUT

Page 38

 Maturity Benefit: On the life assured attaining age 1000, the bid value of

units in the fund will paid out and the policy will terminate.

 Full Withdrawal: Life Long gain offers you the flexibility of full withdrawal

by surroundings all your units, anytime after 3 full years premiums paid. The full withdrawals are paid out at the bid value of units. On full withdrawal, the policy will terminate.

 Partial Withdrawal: Life Long gain allows you to make partial withdrawals

anytime after all the premiums are paid. This gives you the liquidity and the options to take out additional money aver and above the guaranteed survival benefit, as and when required. In case of partial withdrawal, a minimum balance of Rs.10000 at the bid value of units must be maintained, and the minimum withdrawal amount is Rs.1000. In case of a partial withdrawal, the subsequent guaranteed survival benefit will be 3% of Sum Assured less partial withdrawal made.

Key Features: y

Guaranteed death benefit

y

Whole life protection with only 10 or 15 years of contribution.

y

Guaranteed survival benefit that pays 3 % of the Sum Assured every year after the premium payment are over

y

Provision for full and partial withdrawals


Page 39

CHILD GAIN Are your children destined for greatness? Will they devise the universal currency or solve the problem of global warming? Will they make music we never heard before or keep shattering records in sports? Your child can aim for the highest echelons of success, for greatness, and immortal fame. Your child can dream. But your does you must.

Taking care of a child is perhaps the most important job a parent can have. It is but natural that you would like to give your child your best and therefore this is the time when careful financial planning can help you fulfill the aspiration that you have for your children.

Bajaj Allianz Child Gain offers a wide array of solutions that allows you to plan your child¶s future providing you with as many as 4 distinct and unique options:  Option 1: Child Gain 21  Option 2: Child Gain 24  Option 3: Child gain 21 plus  Option 4: Child gain 24 plus

Common features in the 4 options of Bajaj Allianz Child Gain Plan are: -

1. Limited premium term which means that the premium are payable till your child attains the age on 18 years.

2. Your contributions grows by the way of compounded annual bonus which will be paid to you with the first guaranteed payout (policy anniversary following age 18 of your child) for in force policy, in addition to the terminal bonus may also be paid. 3. You are also eligible for tax benefit under sec 80C and sec 10D of the income tax act.


Page 40

4. Assuring your child¶s future: in an uncertain world. The prime interest of your child cannot be jeopardized in any way.

In Built Benefits: y

Waiver of Premium Benefit

y

Family Income Benefit

y

Start of Life Benefit


Page 41

SAVE TAX The following sheet contains the information in a very brief, Such a brief note is ok from the point of general awareness. But when it comes to actual application one needs to have indepth and up to date knowledge. Application of Income Tax provisions involves the application of Income Tax Act, the Rules made thereunder for valuations and formats for furnishing the information, various clarifications and circulars issued from time to time. Some times a reference has to be made to the case la ws, Industry practices. A wrong claim can lead to default , interest , penalty etc. I have made my best attempts to bring the summary from the above together and presented it in easy to understand format. WRITEUP ON TAX

As we all near the end of the financial year 2009-10, we start to worry about planning our investments to ensure maximum tax savings. The fear of finishing and furnishing our Income Tax details, and filing the IT returns on time engulfs us. We either rush to our CA¶s, or start bothering the income tax personnel within our organization to understand what is it that we can do to save the maximum amount of Tax. Knowing and learning about Income Tax is not as difficult as it seems. If we know all applicable sections and deductions correctly, there is a possibility we will save the money that we pay to our CA¶s. Through this booklet our aim is to help you understand Income Tax and the related laws better. Our motto would be to talk in your language and make Income Tax planning more interesting and much simpler to understand.


Page 42

Various Sections relating to Income Tax

As per The Income Tax Act 1961, amended in 2008, there are 9 major sections that we need to understand: Section 80C: One of the most important sections under the act. This section allows

investments up to a maximum of Rs. 1,00,000 under various instruments. These instruments range from Tuition Fee for your child¶s education to investments in Public Provident Fund. Section 80C: Deduction for Investments including Life Insurance and Provident

Fund.

Section 80C was inserted from assessment year 2006-2007. It provides deductions from gross (total) income for qualified amounts paid or deposited by the assessee in the previous year. Main Provisions:

y

The deduction is available only to an individual or a HUF from the gross total income,

y

The deduction is allowed irrespective of whether such amount is paid or deposited by the taxpayer out of his income c hargable to tax,

y

The deduction is available on the basis of specified qualifying investments/contributions/payments made by the taxpayer during the previous year,

y

The maximum amount deductible under section 80C is Rs. 1,00,000. Also the total amount of deductions under sections 80C, 80CCC and 80CCD is Rs. 1, 00,000.


Page 43

Gross Qualifying Amount for the Deduction: Following nature of payments are qualifying amounts:

y

Life insurance premium (Bajaj Allianz Life Insurance)on the life of self, spouse or child or a member of HUF subject to a maximum of 20 per cent of sum assured,

y

Payment in respect to non-commutable deferred annuity plan taken in the name of self, spouse or child,

y

Deferred annuity deducted from Government employee (subject to maximum of 20 per cent of salary),

y

Contributions (not the repayment of loan) towards statutory provident fund and recognized provident fund,

y

Contribution towards an approved superannuation fund,

y

Subscription to National Saving Certificates, VIII Issue,

y

Contribution to ULIP (unit-linked insurance plan) of Unit Trust of India and or LIC Mutual Fund,

y

Payments for notified annuity plan of LIC.

y

Subscription towards notified units of Mutua l Fund,

y

Contribution to notified pension fund set up by Mutual Fund,

y

Any sum paid (and accrued interest) as subscription to Home Loan Account Scheme of National Housing Bank or contribution to any pension fund of National Housing Bank, (AT present Not available)

y

Any sum paid as subscription to any scheme of public sector company engaged in providing longterm finance f or purchase/construction of residential houses or from the housing board in India engaged in planning and development of cities.

y

Any sum paid as tuition fees for the admission or otherwise to any university/college/educational institution in India for full time education for any two children of the taxpayer.


Page 44

y

Any payment towards the cost of construction/purchase of residential property including payment of loan taken from Government bank, cooperative bank, LIC, National Housing Bank, taxpayer's employer where such employer is a public company, public sector company, university or cooperative society,

y

Amount invested in approved debentures of, and equity shares in, a public company engaged in infrastructure including power sector or units of mutual fund utilised for infrastructure,

y

Amount in fixed deposits of 5-years or more with a scheduled bank in accordance with a scheme framed and notified by the Central Government (applicable from assessment year 2007-2008),

y

Subscription to any notified bonds of National Bank for Agriculture or Rural Development (applicable from assessment year 2008-2009),

y

5-year time deposit in an account under Post Office Time Deposits Rules 1981, and

y

Deposit in an acc ount under the Senior Citizen Saving Scheme Rules, 2004.

Minimum Period of Holding:

y

Unit-linked Insurance Plan -- 5 years,

y

Life Insurance Premium -- 2 years

y

Cost of construction or purchase of residential pr operty -- 5 years

y

Time deposit in Post Office Rules, 1981 -- 5 years

y

Senior Citizen Saving Scheme Rules, 2004 -- 5 years.

Section 80CCC: Retirement planning had never been so lucrative before. You can

now save up to Rs. 1, 00,000 for your retirement every year. The earlier cap of Rs. 10,000 has now been removed. But the only point that we need to keep in mind is that we cannot avail of tax benefits for more than Rs. 1, 00,000 under Sec 80C and Sec80CCC combined.


Page 45

Main Provisions:

y

The deduction is available to an individual who is resident or non-resident, Indian citizen or foreign citizen

y

The deduction is allowed only if such amount is paid or deposited by the taxpayer out of his income chargeable to tax,

y

The maximum amount deductible under section 80C is Rs. 1, 00,000. Also the total amount of deductions under sections 80C, 80CCC and 80CCD is Rs. 1, 00,000.

y

Surrender value received is taxable in the year of receipt in the hands of the assessee or nominee.

y

If deduction is claimed under 80CCC, pension received will be taxable in the hands of assessee or the nominee in the year of receipt.

Section 80D:. Health Insurance premiums paid for insuring your own health, or that of your spouse, parents and children also allows you to avail of tax rebates. The maximum amount that you can claim under this section is Rs. 35,000: Rs. 15,000 for self, spouse and dependent children, and Rs. 15,000 for your parents. In case your parents are senior citizens, the limit goes up to Rs. 20,000. Eligible

Assesses:

Individual

and

Hindu

Unified

Families

(HUF)

only

Scope: Premium paid under:

y

Medical insurance scheme of The General Insurance Corporation approved by the Central Government, or

y

Any other insurer approved by the Insurance Regulatory & Development Authority (IRDA)


Page 46

Mode of Payment:

Any mode of payment is accepted including payments made through credit cards, except

cash.

Deduction:

y

For non-senior citizens: The amount of mediclaim insurance premium paid

or Rs. 15000, which ever is less y

For Dependent Parent The amount of mediclaim insurance premium paid or

Rs. 15000, which ever is less y

For senior citizens: The amount of mediclaim insurance premium paid or Rs.

20000, whichever is less. Scope of Coverage:

y

For an individual : Insurance paid on the health of an assessee, spouse,

dependant parents, and dependent children y

For a HUF: Insurance on the health of any family member

Section 80DD: Any expenses incurred on the treatment of a handicapped dependent fall under this section. The upper limit currently stands fixed at Rs. 50,000, and may go up to Rs. 75,000 depending on the severity of the disability. Instruments that help you Save Tax:

Life Insurance: All investments made towards Life Insurance are eligible for a rebate u/s 80C of the Income Tax Act. Life Insurance products with a minimum lock in period of 3 yrs only are eligible for the rebate. Premiums paid under pension plans of various life insurers are also eligible for Tax rebate. The major advantage of a Life Insurance product is that they provide tax free inter est income.


Page 47

Equity Linked Saving Schemes:

These are Mutual Fund products and carry market risk. These too, like life insurance products, are eligible for tax rebate u/s 80C, if they have a lock in period of 3 years. A major disadvantage of these instruments is t hat they do not provide life cover. Public Provident Fund:

These are 15 yearlong investments and provide tax-free returns. The current rate of returns is 8%. Maximum investment allowed under this instrument is Rs. 70, 000, which is eligible for a rebate u/s 80C. Bank Deposits:

Tax rebate is available for 5 yrs deposits in any scheduled bank. The point to remember is that the entire interest income is taxable. National Saving Certificates:

Government sponsored securities certificates, which are available in denominations of Rs. 100, Rs.500, Rs. 1000, Rs.5000 & Rs. 10,000 may be purchased from any post office, either directly or through authorized agents. They currently provide a rate of interest @ 8.16% p.a. compounded half yearly and paid after the maturity period of six years along with principal. Interest accruing annually is automatically reinvested and such re invested interest also qualifies for rebate u/s 80C of Income Tax Act. The interest earned is completely taxable. Home Loans:

Section 24 of the Income Tax Act allows you to deduct the total interest paid on your home loan from your taxable income for the same financial year. You can also claim a rebate u/s 80C for the principal amount repaid on the home loan.


Page 48

Tuition Fee:

The entire tuition fee paid for up to two children is exempted from tax. Donations of any kind like development fee etc. are excluded from the same. Loan on Higher Education:

Those servicing a loan taken for higher education can claim a deduction on the interest paid for the loan u/s 80E of the Income Tax Act. Currently there is no ceiling on the interest amount that can be claimed under this section. The principle amount is however completely taxable. Health Insurance Plans:

Rebate is available u/s 80D of the Income Tax Act, for premiums paid for self, spouse, children and parents. A li mit of Rs.15, 000 is fixed for premiums paid for self, spouse and children¶s. There is an additional benefit of Rs. 15,000 on premiums paid for parent(s) and in case the parents are senior citizens, the upper limit increases to Rs. 20,000. SECTION 80C lists down the instruments, which you can invest in order to save tax.

You can invest a maximum of Rs 1 lakh in all these instruments put together and the entire amount of Rs 1 lakh will be deducted from your taxable income. You

can

get

a

deduction

for

the

following

investments

you

make:

1. A life insurance policy or a unit-linked insurance plan (ULIP). The lock-in period

for ULIPs is between 3 to 5 years and the returns vary depending on the performance of

your

fund.

However, if your annual premium exceeds 20 per cent of the sum assured on your policy, you will not get the tax benefit. 2. A retirement benefit plan offered by mutual funds. Examples are the UTI

Retirement Benefit Plan and Templeton India Pension Plan.


Page 49

3. A Provident Fund, provided that the fund is covered under the Provident Fund Act.

This would mean investments made by you through salary deduction in the Employees Provident Fund (EPF) account as also investments that you make directly in the Public Provident Fund (PPF). You can invest up to Rs 70,000 in the PPF. The current rate of return on EPF is 8.5 per cent while that on PPF is 8 per cent. 4. An approved superannuation fund. Usually your employer, on behalf of you, does

this by deducting the investment amount from your salary. 5. National Savings Certificates (NSCs). 6. Equity Linked Savings Scheme (ELSS) offered by mutual funds. 7. Pension policies offered by insurance companies where benefits were earlier

available under section 80CCC. Earlier, there was a limit of Rs 10,000 on such investments; however that ceiling has now been removed. 8. Bank fixed deposits that provide the Section 80C tax benefit. They come in with a

lock-in of 5 years. . Enjoy Dual Tax Benefits with Life Insurance:

y

Save tax on Regular Premium payments - All the premiums paid towards insuring your life are exempted from tax up to Rs. 1,00,000/- as specified in section 80C of the Income tax a ct.

y

Enjoy Tax free Maturity returns - One of the biggest advantages of investing in Life Insurance policies is that, the complete maturity amount is tax fr ee.

y

Thus, you save tax not only at the time of investing in a life insurance plan, you also get completely tax free returns after maturity.


Page 50

HEALTH PLANS

FAMILY CARE FIRST (A medical policy that puts your health care first)

The health of your family is very important to you. Bajaj Allianz Family care first presents an innovative yet practical health care plan for everyone in your family including children and parents. This unique hospitalisation plan gives you a 3 year health cover for your entire family and allows you to renew this policy after every 3 years to keep your family covered till the age of 74 years. So no separate accounts, repetitive paperwork or payments adjustments for each member. Secure your entire family in one shot. The policy covers hospitalization expenses ranging from Rs.1 lac to Rs.10 lacs. This means, is you opt for a sum assured of Rs.5 lacs for your family, you and your family can avail up to Rs.5 lacs every year to meet your hospitalization expenses, subject to limits on reimbursement of expenses, waiting period and exclusions as mentioned below. All the life assured covered under the policy will be referred to as members. The proposer or his/her spouse, if included who so ever is of higher age shall be referred to as Primary Member and all other life assured as dependant members. Children of the Primary Member shall be covered provided they are economically dependant on parents and they are not married.


Page 51

Key Features:  Coverage from 3 months to age 74 with guaranteed renewals  3 year premium guarantee for each policy ter m  Hospitalization cover in leading hospitals across the country  15% discount on premium on every renewal  No claim bonus in the form of increase in sum assured@ 5 % every year.  Day Care Treatment for 125 day care proc edures  Pre- hospitalisation and Post-hospitalisation benefit  Reimbursement of Ambulance expenses  Choice to select health critical illness rider  Choice to include Your spouse, children and parents  Cash Less Service facility in leading hospitals across the country


Page 52

INTRODUCTION OF TOPIC

A marketing strategy is a process that can allow an organization to concentrate its (always limited) resources on the great est opportunities to increase sales and achieve a sustainable competitive advantage.

Marketing strategy as a key part of the general corporate strategy marketing strategy is most effective when it is an integral component of corporate strategy, defining how the organization will engage customers, prospects and competitors in the market arena for success. It is partially derived from broader corporate strategies, corporate missions, and corporate goals. They should flow from the firm's mission statement. They are also influenced by a range of micro environmental factors.

Marketing strategy and sectarian tactics and actions

A marketing strategy also serves as the foundation of a marketing plan. A marketing plan contains a set of specific actions required to successfully implement a marketing strategy. For example: "Use a low cost product to attract consumers. Once our organization, via our low cost product, has established a relationship with consumers, our organization will sell additional, higher-margin products and services that enhance the consumer's interaction with the low-cost product or service."

A strategy consists of well thought out series of tactics. While it is possible to write a tactical marketing plan without a sound, well-considered strategy, it is not recommended. Without a sound marketing strategy, a marketing plan has not foundation. Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs a nd reach marketing objectives. It is important that these objectives have measurable results. A good marketing strategy should integrate an organization's marketing goals, policies, and action sequences (tactics) into a cohesive whole. Many companies cascade a strategy throughout an organization, by creating strategy tactics that then become strategy goals for the next level or group.


Page 53

Each group is expected to take that strategy goal and develop a set of tactics to achieve that goal. This is why it is important to make each strategy goal measurable. Marketing strategies are dynamic and interactive. They are partially planned and partially unplanned. See strategy dynamics.

Types of marketing strategies

Every marketing strategy is unique, but if we abstract from the individualizing details, each can be reduced into a generic marketing strategy. There are a number of ways of categorizing these generic strategies. A brief description of the most common categorizing schemes is presented below:

Strategies based on market dominance

In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are three types of market dominance strategies: · Leader · Challenger · Follower

Porter generic strategies - strategy on the dimensions of strategic scope and strategic

strength. Strategic scope refers to the market penetration while strategic strength refers to the firm¶s sustainable competitive advantage. · Cost leadership · Product differentiation · Market segmentation

Innovation strategies - This deals with the firm's rate of the new product

development and business model innovation. It asks whether the company is on the cutting edge of technology and business innovation. There are three types: · Pioneers · Close followers · Late followers


Page 54

Growth strategies - In this scheme we ask the question, ³How should the firm

grow?´. There are a number of different ways of answering that question, but the most common gives four answers: · Horizontal integration · Vertical integration · Diversification · Intensification

A more detailed schemes uses the categories:

· Prospector · Analyzer · Defender · Reactor


Page 55

RESEARCH METHODOLOGY Research methodology is a way to systematically solve the research problem. Research methodology constitutes of research methods, selection criterion of research methods, used in context of research study and explanation of using of a particular method or technique so that research results are capable of being evaluated either by researcher himself or by others. Why a research study has been undertaken, how the research problem has been formulated, why data have been collected and what particular technique of analyzing data has been used and a best of similar other question are usually answered when we talk of Research methodology concerning a research problem or study. The main aim of research is to find out the truth which is hidden and which has not been discovered as yet.

AREA OF STUDY The area of the study related with getting correct information of life insuranc e policies of different peoples in the region of Gaya, Bihar.

RESEARCH DESIGN The research design is basically Exploratory in nature which helps in developing the new ideas and insights about the problem under study. These are flexible in nature that helps in gathering the relevant data to the problem, and hence many different facts of problem can be considered.

SAMPLE DESIGN A sample design is a definite plan for obtaining a sample from a given population. It refers to the techniques or t he procedure the researcher would a dopt in selecting items for the sample. Sample design may as well be drawn from the population to be included in the sample i.e. the size of the sample. Sample design is determined before data are collected. It includes space boundary, time boundary and sample size.


Page 56

SPACE BOUNDARY Bajaj Allianz Insurance Ltd., Gaya

TIME BOUNDARY 10 June 2010 ± 25 July 2010

SAMPLE SIZE This refers to the number of items to be selected from the universe to constitute a sample a major problem before a researcher; the size of sample should neither be excessively large, nor too small. It should be optimum. An optimum sample is one which fulfills the requirement of efficiency, representative ness, reliability and flexibility, while deciding the size of sample; researcher must determine the desired

precision as also an acceptable confidence level for the estimate. During my study I have taken 50 insurance care consultants as the size of sample.

SAMPLE PROCEDURE Probability Sampling: Probability sampling is also known as µRandom sampling¶ or µChance sampling¶. Under this sampling design, every item of the universe has an equal chance of inclusion in the sample. (i.e., once an item is selected for the sample, it cannot appear in the sample again. Method of analysis of data : Tables, Pie chart, and Likert scale


Page 57

TOOLS USED

To know the response, I have used the questionnaire method. If one wish to find what insurance care consultants think or know, the logical procedure is to ask them. This has led marketing researchers to use the questionnaire technique for collecting data more than any other method.

In this method questionnaire were distributed to the respondents and they were asked to answer the questions in the questionnaire. The questionnaire were structured non disguised questionnaire because the question which the questionnaire contained, were arranged in a specific order besides every question asked were logical for the study, no question can be termed as irrelevant.

The questionnaire was non-disguised because the questionnaire was constructed so that the objective is clear to the respondent. The respondents were aware of the objective. They knew why they were asked to fill the questionnaire. With the help of following techniques, which are using by Bajaj Allianz I analyse that the how techniques of sales promotion are useful.


Page 58

DATA COLLECTION

PRIMARY DATA SOURCES

· Through interaction with insurance care consultant · Through questionnaires filled from the insurance care consultant.

SECONDARY DATA SOURCES:

· Through internet, various official sites of t he companies. · Through pamphlets and brochures of the companies. · Journals & Magazines.


Page 59

DATA ANAL Q.1 Whi h techni

AND INTE

ETATION

e of sales promotion you prefer?

OPTIONS ESPONSE Display

40%

Door To Door Promo

14%

E hi itions

16%

Catalogue

20%

Price Off

1o%

20 40 20

Display Door to Door Promo 14

16

Exhibitions Catalogue Price Off

Figure 1 Interpretation:

Accordi

to t

st dy 40% i surance care consultants prefer display techni ue,20%

insurance care consultants prefer catalogues, 16% to the exhi ition, 14% to the door to door demo and 10% insurance care consultants prefer pr ice off techni ue.

II

PR FE

I

L

LLE E

EER

P

Q.2 Which techni ue is gi ing good response from customers?

Options

Response

Display

18%

Door to Door Promo

36%

E hi itions

18%

Catalogue

16%

Price Off

12%

12

18

16

Di pla 

¡

Door to Door Promo Exhibition 36

18

¢

Catalogue

Price Off

Figure 2

Interpretation:

According to the study 36% insurance care consultants say door to door demo techni ues gi ing good response, 18% insurance care consultants say to the display & exhi ition, 16% to the catalogues & 12% say to the pr ice off techni ue.

II

PR FE

I

L

LLE E

EER

P

Q.3 Which techni ue is economically benef icial?

Options

Response

Display

10%

Door to Door Promo

22%

E hibitions

10%

Catalogue

46%

Price Off

12%

12

10

22

Di pla £

¤

Door to Door Promo Exhibition 46

10

¥

Catalogue

Price Off

Figure 3

Interpretation:

According to the 46% insurance care consultants, catalogue techni ue is economically benef icial. 22% to the door-to-door demo and 12% insurance care consultants prefer pr ice off techni ue.10% to the exhibition & display techni ue.

II

PR FE

I

L

LLE E

EER

P

Q.4 Which techni ue requires less time in sales promotion?

Options

Response

Display

22%

Door to Door Promo

38%

E hibitions

10%

Catalogue

16%

Price Off

14%

14

22

Display

16

Door to Door Promo Exhibitions 10 38

Catalogue

price Off

Figure 4

Interpretation:

According to the study 38% insurance care consultants say display techni uerequires less time in sales promotion. 22% to the display technique, 16% insurance care consultants vote to the catalogues, 14% insurance care consultants vote to the 10% to the exhibition.

II

PR FE

I

L

LLE E

EER

P

Q5 Which technique is easily manageable?

Options

Response

Display

18%

Door to Door Promo

30%

E hibitions

10%

Catalogue

34%

Price Off

8%

8

18

Display 3

Door to Door Promo

¦

30

Exhibitions Catalogue

10

Price Off

Figure 5

Interpretation:

According to the study 34% insurance care consultants say that the catalogues is easily manageable, 30% to the door to door demo,18% insurance care consultants prefer display technique 10% to the exhibition, and 8% insurance care consultants say to the pr ice off technique.

II

PR FE

I

L

LLE E

EER

P

Q.6 Which technique requires less knowledge to execute?

Options

Response

Display

14%

Door to Door Promo

12%

Exhibitions

12%

Catalogue

22%

Price Off

40%

14

40

12

Display Door to Door Promo

12

Exhibitions Catalogue

22

Price Off

Figure 6

Interpretation:

According to the study 40% insurance care consultants vote to the pr ice off technique is require less knowledge to execute.22% insurance care consultants prefer catalogues, 14% to the display and 12% to the exhibition & door to door.

II

PR FE

I

L

LLE E

EER

P

Q.7 Which technique requires more knowledge to execute?

Options

Response in %

Display

20

Door to Door Demo

42

Exhibition

24

Catalogue

10

Price Off

4

10

20

¨

Di pla ©

2



Door to Door Promo

¨

Exhibition



§

2

Catalogue Price Off

Figure 7

Interpretation:

According to the study 42% insurance care consultants vote to the door -to-door technique that it requires more knowledge to execute than others. 24% to the exhibition, 20% to the display technique, 10% insurance care consultants give vote to the catalogues and 4% insurance care consultants prefer pr ice off technique.

II

PR FE

I

L

LLE E

EER

P

Q.8 Price off are necessary for sales promotion?

Options

Response

Yes

46%

No

40%

Can¶t Say

14%

14

46 Ye N 40





Can't Sa



Figure 8

Interpretation:

According to the study 46% insurance care consultants say yes that the pr ice off are necessary for sales promotion. 40% say no and 14% say can¶t say.

II

PR FE

I

L

LLE E

EER

P

Q.9 Do you think that sales promotion program that is presently undertaken by Bajaj Allianz. are satisfactory?

Options

Response

Yes

34%

No

46%

Can¶t Say

20%

20 34

Ye 

N



Can' Sa



46

Figure 9

Interpretation:

According to the study 46% insurance care consultants say No that the sales promotion program that is presently under taken by Bajaj Allianz are satisfactor ily 36% say Yes and 20% say can¶t say.

II

PR FE

I

L

LLE E

EER

P

Q.10 Should Bajaj Allianz take up new sales promotion program?

Options

Response

Yes

72%

No

22%

Can¶t say

6%

6 22

Ye



No 72

Can't ay 

Figure 10

Interpretation :

According to the study 72% insurance care consultants say yes installment offers are 22% say no and 6% say can¶t say.

II

PR FE

I

L

LLE E

EER

P

FINDINGS 1. Insurance care consultants strongly focused on sales promotion techniques and image of the company.

2. According to them display is the most feasible technique for sales promotion because of its large exposure and economic feasibility for the organization.

3. However the customers give good response in door to door technique because of its flexibility and ability to get immediate feedback. So the company should hire more skilled advisors to improve their sales. This technique is easy to manage and take least time in stimulate the customers.

4. Price-off is an important technique in sales promotion because in somehow it provides income to the customers as well as affect the sales of the company¶s products.

5. Insurance care consultants said that their sale is very much increased in the last years because of an excellent performance of the product. Insurance care consultants said that the customer are very much satisfied after getting insurance policies because of its features related with risks of life and also because of quality of service provide by their company is very good.

5. Insurance care consultants opine that that there is need of improvement in sales promotion technique to remain competitive and for enhancement of market share.


Page 70

SUGGESTIONS AND RECOMMENDATIONS

Here are some suggestions, which may help to strengthen the firm further:

1. Many of the insurance care consultants of the Bajaj Allianz. Has the lack of good communication skills and training. S o training should be easy.

2. Bajaj Allianz. should use new innovative techniques of sales promotion. 3. Customer services should be more comfortable than others. 4. People must be made aware of the benefits of the policies of Bajaj Allianz. 5. The company should give personal attention to each customer. 6. Proper assistance should be provided to the customer at the time of claim settlement.

7. All the details about the company should be given to the customers. 8. Regular advertisement of the company should be given TV and Newspaper. 9. The company must try to find new markets especially in the rural areas.

10. The company should do frequent analysis of the competitors.


Page 71

CONCLUSION The market potential for private insurance companies is found to be greater in the long run as population and level of income are increasing. Most of the Insurance Companies are focusing on formulation of effective strategies and sales promotion technique. This also become an important area of competition in Life Insurance Companies in the Era of marketing communication. The private insurance companies have to take immediate steps in tapping new markets which are untapped until now like, rural market and should formulate new promotional strategies in the way of strengthening their field forces. The private insurance companies have to concentrat e on the factors like competitors sales promotion strategies, price offs, new innovative techniques in this area, availability of products and services with the company, different classes of people, awareness among customers about sevices offered and t heir satisfaction. Then these companies should make effective strategies by appropriate blending of all 7Ps i.e. product, price, place, promotion, people, process and physical evi dence.

Hence, the market has potential. The private insurance companies that ar e taking immediate steps can tap it easily & rapidly.


Page 72

LIMITATIONS Following limitations were faced during the study:

3. While designing the questionnaire it was kept in mind to gather more and more information from each target person. For the neither present nor descriptive questions could have served the purpose. Therefore the questionnaire contained in the open-ended questions.

4. The study was conducted in Bajaj Allianz in Bhopal city, which has 127 to 170 insurance care consultants only. The sample size was of 50 insurance care consultants only so that accuracy of data so collected could be absurd covered by circulation of questionnaire.

5. The accuracy of indications given by the respondents may not be consider adequate as whether the language used in the questionnaire is understood by the respondent cannot be taken for granted.

6. The study is based on the information gathered from the insurance care consultants. Therefore in such case it is possible that the information supplied might be biased because the insurance care consultant might have shown partiality towards their insurance policies.

7. Since the survey was limited to 50 insurance care consultants it is rather difficult to give a precise conclusion but I have tried to the best of my capability to give the conclusion on a comprehensive manner


Page 73

BIBLIOGRAPHY

BOOKS: y

Kothari C.R ., (1999) Research Methodology, Wishwa Prakashan.

y

Kotler P. and Armstrong G., (2005) Principles of Marketing New Delhi,

Prentice Hall of India. y

Kotler P., (1999) Marketing Management Analysis, Planning I mplementation

and Control, New Delhi, Prentice Hall of India. y

Saxena Rajan, (1999) Marketing Management, Tata McGraw Hill.

WEBSITES: y

www.bajajallianz.com

y

www.quickmba.com

y

www.indiainfoline.com


Page 74

ANNEXURE QUESTIONNAIRE

Name : _____________________________________

Address : _____________________________________

Q.1 To which technique of sales promotion you prefer?

A) Display Demonstration

C) Exhibition

E) Price-off

Q.2 Which technique is giving good response from customers?

A) Display

C) Exhibition

E) Price-off

Q.3 Which technique is economically beneficial?

A) Display

C) Exhibition

E) Price-off


Page 75

Q.4 Which technique requires less time in sales promotion?

A) Display

C) Exhibition

E) Price-off

Q.5 Which technique is easily manageable?

A) Display

C) Exhibition

E) Price-off

Q.6 Which technique requires less knowledge to execute?

A) Display

C) Exhibition

E) Price-off

Q.7 Which technique requires more knowledge to execute?

A) Display

C) Exhibition

E) Price-off


Page 76

Q.8 Price off and installment offers are necessary for sales promotion?

A) Yes

C) Can¶t say

Q.9 Do you think that sales promotion program that is presently undertaken by Bajaj Allianz. are satisfactory?

A) Yes

C) Can¶t say

Q.10 Should Bajaj Allianz. take up new sales promotion program?

A) Yes

C) Can¶t say


Page 77

COMPARISON OF TERM INSURANCE PREMIUMS (Rs. / Year)

S.No.

1

2

COMPANY

POLICY

AMP

Raksha

SANMAR

Shree

AVIVA

Life

5 Yrs.

10

15

20

25

30

Yrs.

Yrs.

Yrs.

Yrs.

Yrs.

2230

2230

2290

2260

3070

3640

2650

2660

2890

3120

3530

4060

Shield 3

Bajaj Allianz

Risk Care

3260

3560

4050

4

Birla Sunlife

Term

2950

2950

2770

2820

3032

3032

3032

3032

3334

3905

«.

3400

3400

3700

4100

4500

2564

2564

2812

3227

3821

«.

2160

2280

2430

2700

3050

«.

2950

4830

3010

6050

3160

7750

«.

Plan 5

HDFC

Term

2870

2920

3050

3430

Assurance 6

7

8

ICICI

Life

Prudential

Guard

Kotak

Term

Mahindra

Assurance

LIC

Amol Jeeven

MAX

Level

NewYork

Term

10

MET Life

Suraksha

2700

2600

2800

3100

3300

«.

11

SBI Life

Shield

2043

2043

2150

2454

2964

«.

12

TATA AIG

Assure

«.

3510

3970

4550

5280

«.

9

Life Line


Page 78

PREMIUM STRUCTURE OF ENDOWMENT PLANS (Rs. /YEAR)

S.No.

1

COMPANY

AMP

POLICY

5 Yrs.

10 Yrs.

15

20

25

30

Yrs.

YRS.

Yrs.

Yrs.

Divya Shree

219240

100140

63920

45140

34330

27520

SANMAR 2

Bajaj Allianz

Invest Gain

200620

106020

64920

43620

31520

24120

3

HDFC Life

Endowment

«.

100740

65070

47000

37070

29820

«.

105455

65867

46133

34883

27907

«.

96948

60300

43762

34779

28756

«.

98093

63737

44857

33612

26493

«.

101632

63295

44167

33184

26348

208829

102275

66530

47955

37818

31368

184610

84730

50160

32760

23160

17480

Assurance 4

5

ICICI

Save &

Prudential

Protect

ING Vysya

Reassuring Life Endowment (Cash Bonus)

6

ING Vysya

Reassuring Life Endowment (Reversionary Bonus)

7

8

Kotak

Endowment

Mahindra

Plan

LIC

Endowment Assrurance

9

MET Life

Suvidha (non participating)

10

MET Life

Suvidha

«.

«.

62420

42990

31890

25550

11

SBI Life

Sudarshan

«.

97646

60034

40365

29399

22735

12

TATA AIG

Assure

«.

151250

«.

68170

«.

39060

Security & Growth Plan


Page 79

MINIMUM REQUIRED COMPOUND BONUS RATE (IN %)

S.No.

COMPANY

POLICY

15

20 Yrs.

Yrs. 1

AMP

25

30

Yrs.

Yrs.

Divya Shree

3.57

3.47

3.44

3.50

SANMAR 2

Bajaj Allianz

Invest Gain

3.67

3.28

3.07

3.00

3

HDFC Life

Endowment

3.69

3.69

3.78

3.81

Save n Protect

3.78

3.59

3.51

3.55

Reassuring Life

3.15

3.30

3.50

3.67

3.54

3.44

3.35

3.36

Endowment Plan

3.50

3.35

3.29

3.33

Endowment

3.85

3.80

3.87

4.00

Assurance 4

ICICI Prudential

5

ING Vysya

Endowment 6

ING Vysya

Reassuring Life Endowment ( Reversionary Bonus)

7

Kotak Mahindra

8

LIC

Assurance 9

MET Life

Suvidha

3.40

3.21

3.12

3.22

10

SBI LIFE

Sudharshan

3.12

2.87

2.76

2.77

11

TATA AIG

Assure Security

«.

5.70

«.

4.83


Page 80

WHOLE LIFE INSURANCE PREMIUMS (RS./ YEAR)

S.No.

COMPANY

POICY

15 Yrs.

20 Yrs.

25 Yrs.

1

AMP SANMAR

Nitya Shree

36450

30000

26400

2

Bajaj Allianz

Life Time

29760

24170

22140

44754

38358

35572

76292

54274

41206

16900

14340

13030

32070

26700

23760

Care 3

ING Vysya

Rewarding Life

4

LIC

Jeeven Anand

5

MET Life

MET 100 (nonparticipating)

6

MET Life

MET 100 Gold


Page 81

EQUITY SHARE CAPITAL OF LIFE INSURANCE COMPANIES

Name Of The Insurers

2008-09

2009-

Foreign

Indian

10

Promoter

Promoter

255.50

320.00

47.52

272.48

675.00

925.00

240.50

684.50

346.08

466.08

121.18

344.90

151.26

211.76

55.06

26.00

290.00

350.00

91.00

26.00

Life Insurers

HDFC Standard Life Insurance Co. Ltd. ICICI Prudential Life Insurance Co. Ltd. Max New York Life Insurance Co. Ltd. Kotak Mahindra Old Mutual Life Insurance Co. Ltd Birla Sun Life Insurance Co. Ltd. TATA-AIG Life Insurance Co. Ltd. SBI Life Insurance Co. Ltd. ING Vysya

Life Insurance Co. Ltd.

231.00 175.00 245.00

321.00 350.00

83.46 91.00

325.00

84.50

237.54 259.00 26.00

Metlife India Insurance Co. Ltd.

160.00

235.00

61.10

173.90

Bajaj Allianz Life Insurance Co. Ltd.

150.00

150.00

39.02

111.05

AMP Sanmar

160.00

217.10

56.45

160.65

AVIVA

242.00

319.80

83.15

236.65

Sahara India

157.00

157.00

0.00

157.00

Sub Total

3238.71

4347.81

1053.93

3293.88

Life Insurance Corporation of India Total (Life)

5.00 3243.71


5.00 4352.81

1053.93

5.00 3298.88

Page 82

INVESTMENTS OF LIFE INSURERS IN LIFE FUND

2009

2008

Public Sector

LIC(A)

361428.87

304436.88

Private Sector

HDFC Std. Life

480.77

305.43

MNYL

436.37

241.85

ICICI PRU

970.63

658.45

BSLI

170.06

140.38

TATA AIG

392.76

220.65

KOTAK LIFE

200.67

133.43

SBI LIFE

960.89

367.84

BAJAJ ALLIANZ

382.28

221.91

MET LIFE

157.18

120.18

AMP SANMAR

110.71

98.69

ING VYSYA

241.22

75.28

AVIVA

144.95

144.65

SAHARA LIFE

142.48

143.29

TOTAL(B)

4790.98

2872.03

TOTAL(A+B)

366219.85

307308.91


Page 83

INVESTMENTS OF LIFE INSURERS IN PENSIONS FUNDS (Rs. In Crore)

2009

2010

11462.03

9244.06

PUBLIC SECTOR

LIC (A) PRIVATE SECTOR

HDFC STD LIFE

151.91

101.68

MNYL

14.03

2.11

ICICIPRU

166.64

127.59

BSLI

0.06

0.00

TATA AIG

76.78

39.79

KOTAK LIFE

13.36

7.54

SBI LIFE

78.97

15.41

BAJAJ ALLIANZ

9.28

3.81

METLIFE

0.21

0.00

AMP SANMAR

50.45

9.83

ING VYSYA

0.00

0.00

AVIVA

0.00

0.00

SAHARA LIFE

0.06

0.00

TOTAL (B)

561.75

307.77

TOTAL (A+B)

12033.78

9551.83


Page 84

INVESTMENTS OF LIFE INSURERS IN GROUP INSURANCE (Rs. In Crore)

2009

2010

42639.42

34086.32

HDFC STD LIFE

0.00

0.00

MNYL

7.25

1.35

ICICIPRU

0.00

0.00

BSLI

0.00

0.00

TATA AIG

14.70

0.00

KOTAK LIFE

2.05

0.90

SBI LIFE

10.77

2.92

BAJAJ ALLIANZ

1.27

0.95

METLIFE

2.52

0.44

AMP SANMAR

0.00

0.00

ING VYSYA

0.00

0.00

AVIVA

2.85

0.57

SAHARA LIFE

0.02

0.00

TOTAL (B)

41.43

7.15

TOTAL (A+B)

42680.85

34075.47

PUBLIC SECTOR

LIC (A) PRIVATE SECTOR


Page 85

Bajaj allianz

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