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Visakhapatnam Center
Redy100 m 100
SUMMER INTERNSHIP PROGRAMME-2008
FINAL SUBMITION REPORT
“A STUDY OF STRATEGY AND FUNCTIONING OF FIELD FORCES INBAJAJ ALLIANZ”
“No man is indispensable but there are certain mortal without whom the quality work suffers their guidance becomes important in acquiring quality results”.
I am grateful my CH Mrs. Shefali Jain who has given more guidance about SIP
I am grateful to my faculty guide MRS NUPUR TIWARI who has given me this opportunity to prepare this project and provided her valuable guidance. I am also grateful to my company relationship manager Mr. Nitin Verma and company guide Mr. Hemant Sahu who has provided all the necessary information required to prepare this report.
I am also grateful to my parents and friends who inspired me to put my best efforts.
TABLE OF CONTENTS
Sr.No CONTENTS PAGE
1. ACKNOWLEDGEMENT
2. INTRODUCTION
3. SECTOR PROFILE
4. COMPANY PROFILE
5. OBJECTIVES OF STUDY
6. RESEARCH METHODOLOGY
7. DATA ANALYSIS & INTERPRETATION
8. OBSERVATIONS & FINDING
9. PROBLEMS IN THE EXECUTIVE
TRAINING
10. LEARNING THE EXECUTIVE TRAINING
SUGGESTIONS
INTRODUCTION
INTRODUCTION
A marketing strategy is a process that can allow an organization to concentrate its
(always limited) resources on the greatest 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 no
foundation. Marketing strategies serve as the fundamental underpinning of
marketing plans designed to fill market needs and reach marketing objectives[3]. 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. 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
Growth strategies - In this scheme we ask the question, “How 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
INSURANCE NEED
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 aftermath.
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
individual 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 organisations. Insurance companies (ICs) are important players
in financial markets as they collect and invest large amounts of premium.
Insurance products are multi purpose and offer the following benefits:
1. Protection to the investors
2. Accumulate savings
3. CHANNELISE 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.
SECTOR PROFILE
INSURANCE IN INDIA1
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 per
cent. In terms of number of policies and schemes sold, private sector accounted for
only 3.77per cent as compared to 96.23 per cent share of LIC (The Economic
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.
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 amended 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.
INSURANCE MARKET IN INDIA3
NON-LIFE INSURANCE MARKETIn December 2000, the GIC subsidiaries were restructured as independent
insurance companies. At the same time, GIC was converted into a national re-
insurer. In July 2002, Parliamant 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 gaining 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 implementaion,
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. 3 http://www.indiacore.com/insurance2.html
IRDA regulations require insurance companies to invest not less than 15 percent
of their funds in infrastructure and social sectors. International Insurance
companies also invest their funds in such projects.
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 re-
insurance 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 BUSINESSInsurance 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 re-
insured with other insurers. In effect, therefore, re-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.
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.
LIFE INSURANCE MARKETThe 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 has tripled to Rs 1000 crore in 2002- 03 over last year.
Meanwhile, state owned LIC's new premium 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 privatisation was around Rs 50,000. That has risen to about Rs
80,000. 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.
COMPARISON OF TERM INSURANCE PREMIUMS (Rs./ Year)
PREMIUM STRUCTURE OF ENDOWMENT PLANS(RS. /YEAR)
MINIMUM REQUIRED COMPOUND BONUS RATE (IN %)
WHOLE LIFE INSURANCE PREMIUMS (RS./ YEAR)
EQUITY SHARE CAPITAL OF LIFE INSURANCE
COMPANIES
Name of the insurer 2003-04 2004-05
Foreign
Promoter
Indian
Promoter
Life Insurers
HDFC Standard Life Insurance Co. Ltd. 255.50 320.00 47.52 272.48
ICICI-Prudential Life Insurance Co. Ltd. 675.00 925.00 240.50 684.50
Max New York Life Insurance Co. Ltd. 346.08 466.08 121.18 344.90
Kotak Mahindra Old Mutual Life Insurance Co. Ltd. 151.26 211.76 55.06 26.00
Birla Sun Life Insurance Co. Ltd. 290.00 350.00 91.00 26.00
TATA-AIG Life Insurance Co. Ltd. 231.00 321.00 83.46 237.54
SBI Life Insurance Co. Ltd. 175.00 350.00 91.00 259.00
ING Vysya Life Insurance Co. Ltd. 245.00 325.00 84.50 26.00
Metlife India Insurance Co. Ltd. 160.00 235.00 61.10 173.90
Bajaj Allianz Life Insurance Co. Ltd. 150.07 150.07 39.02 111.05
AMP Sanmar 160.00 217.10 56.45 160.65
AVIVA 242.80 319.80 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 5.00 5.00 5.00
Total (Life) 3243.71 4352.81 1053.93 3298.88
INVESTMENTS OF LIFE INSURERS IN LIFE FUND
(Rs. In Crore)
2005 2004
PUBLIC SECTOR
LIC (A) 361428.87 304436.88
PRIVATE SECTOR
HDFC STD LIFE 480.77 305.43
MNYL 436.37 241.85
ICICIPRU 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
METLIFE 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
INVESTMENTS OF LIFE INSURERS IN PENSIONS FUNDS
(Rs. In Crore)
2005 2004
PUBLIC SECTOR
LIC (A) 11462.03 9244.06
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
INVESTMENTS OF LIFE INSURERS IN GROUP INSURANCE
(Rs. In Crore)
2005 2004
PUBLIC SECTOR
LIC (A) 42639.42 34068.32
PRIVATE SECTOR
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
INVESTMENTS OF LIFE INSURERS IN UNIT LINKED PLANS
(Rs. In Crore)
2005 2004
PUBLIC SECTOR
LIC (A) 2758.67 209.87
PRIVATE SECTOR
HDFC STD LIFE 290.67 60.91
MNYL 20.44 0.00
ICICIPRU 2337.16 780.07
BSLI 1125.72 474.62
TATA AIG 80.81 12.75
KOTAK LIFE 308.33 53.54
SBI LIFE 3.54 0.00
BAJAJ ALLIANZ 369.24 28.61
METLIFE 1.74 0.00
AMP SANMAR 21.40 0.00
ING VYSYA 78.61 20.81
AVIVA 131.13 47.13
SAHARA LIFE 0.00 0.00
TOTAL (B) 4768.77 1478.43
TOTAL (A+B) 7527.45 1688.31
COMPANY PROFILE
BAJAJ ALLIANZ LIFE INSURANCE
Bajaj Allianz Life Insurance Company Limited
Bajaj Allianz Life Insurance Co. Ltd. is a joint venture between two leading
conglomerates- , Bajaj Auto, one of the biggest 2 and 3 wheeler manufacturers in
the world and Allianz AG, one of the world's largest insurance companies.
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
Bajaj Allianz General Insurance Company Limited
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Auto Limited and Allianz AG of Germany. Both enjoy a reputation of expertise, stability and strength.
Bajaj Allianz General Insurance received the Insurance Regulatory and
Development Authority (IRDA) certificate of Registration (R3) on May 2nd, 2001
to conduct General Insurance business (including Health Insurance business) in
India. The Company has an authorized and paid up capital of Rs 110 crores. Bajaj
Auto holds 74% and the remaining 26% is held by Allianz, AG, Germany.
Bajaj Allianz today has a network of 42 offices spread across the length and breadth of the country. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the offices are interconnected with the Head Office at Pune.
ALLIANZ GROUP
Allianz Group is one of the world's leading insurers and financial services
providers.
Founded in 1890 in Berlin, Allianz is now present in over 70 countries with almost
174,000 employees. At the top of the international group is the holding company,
Allianz AG, with its head office in Munich.
Allianz Group provides its more than 60 million customers worldwide with a
comprehensive range of services in the areas of
Property and Casualty Insurance,
Life and Health Insurance,
Asset Management and Banking.
ALLIANZ AG- A GLOBAL FINANeCIAL POWERHOUSE
Worldwide 2nd by Gross Written Premiums - Rs.4,46,654 cr.
3rd largest Assets Under Management (AUM) & largest amongst Insurance
cos. - AUM of Rs.51,96,959 cr.
12th largest corporation in the world
49.8 % of global business from Life Insurance
Established in 1890, 110 yrs of Insurance expertise
70 countries, 173,750 employees worldwide
BAJAJ GROUP
Bajaj Auto Ltd, the flagship company of the Rs. 8000 crore Bajaj group is the
largest manufacturer of two-wheelers and three-wheelers in India and one of the
largest in the world.
A household name in India, Bajaj Auto has a strong brand image & brand loyalty
synonymous with quality & customer focus.
A STRONG INDIAN BRAND- HAMARA BAJAJ
One of the largest 2 & 3 wheeler manufacturer in the world
21 million+ vehicles on the roads across the globe
Managing funds of over Rs 4000 cr.
Bajaj Auto finance one of the largest auto finance cos. in India
Rs. 4,744 Cr. Turnover & Profits of 538 Cr. in 2002-03
It has joined hands with Allianz to provide the Indian consumers with a
distinct option in terms of life insurance products.
As a promoter of Bajaj Allianz Life Insurance Co. Ltd., Bajaj Auto has the
following to offer -
Financial strength and stability to support the Insurance Business.
A strong brand-equity.
A good market reputation as a world class organization.
An extensive distribution network.
Adequate experience of running a large organization.
PRODUCTS
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 brings to you several innovative products, the details of which you
can browse in this section.
INDIVIDUAL PRODUCTS
UNITGAINA Unit Linked Plan
RISK CAREPure Term Plan
TERM CARETerm Plan with Return-of-Premium
INVESTGAINAn Endowment Plan
LIFETIME CAREWhole Life Plan
CHILDGAINChildren's Policy
LOAN PROTECTORA Mortgage Reducing Term Insurance Plan
CASHGAINMoney Back Plan
KEYMAN INSURANCEA Promising Business Opportunity
SWARNA VISHRANTIRetirement Plan
UNITGAIN PLUSUnit Link plan with higher allocation
LIFELONG GAIN PLAN A lifetime of security for your family
RIDERS UNITGAIN PLUSWhile the basic life insurance
MAHILAGAIN RIDER The unique plan that takes care of you and your loved ones.
UNITGAIN EASY PENSION A Plan that enables you retire with laughter lines.... not worry lines
SWARNA RAKSHA-ROCA plan that provids you with regular income... for life.
HEALTHCAREThis is a three-year health insurance plan, with life insurance benefit.
UG PREMIERUpfront Allocation of 105% of single premium on day 1