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    EXECUTIVE SUMMARY

    Birla Sun Life Asset Management Company Ltd. (BSLAMC), the investment managers of

    Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the

    Sun Life Financial Services Inc. of Canada. The joint venture brings together the Aditya

    Birla Group's experience in the Indian market and Sun Life's global experience.

    Established in 1994, Birla Sun Life Mutual fund has emerged as one of India's leading

    flagships of Mutual Funds business managing assets of a large investor base. Our

    solutions offer a range of investment options, including diversified and sector specific

    equity schemes, fund of fund schemes, hybrid and monthly income funds, a wide range of

    debt and treasury products and offshore funds.

    Birla Sun Life Asset Management Company has one of the largest team of research

    analysts in the industry, dedicated to tracking down the best companies to invest in.

    BSLAMC strives to provide transparent, ethical and research-based investments and

    wealth management services.

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    INTRODUCTION TO INSAURANCE

    Definition

    There can be two approaches for defining insurance. One is functional approach other is

    contractual approach.

    Functional Definition

    According to Encyclopedia Britannica, Insurance may be defined as a social device

    where by a large group of individuals through a system of equitable contribution, may

    reduce or eliminate measurable risk of economic loss common to all members of the

    group

    Contractual Definition

    According to Justice Tindall, Insuranceis a contract in which a sum of money is paid to

    the assured in consideration of insurersincurring the risk of paying a large sum upon a

    given contingencies.

    The risk becomes insurable if the following requirements are compiled with:

    The insured must suffer financial loss if the risk operates

    The loss must be measurable in money.

    The object of the insurance contract must be legal.

    The insured should have sufficient knowledge about the Risk he accepts.

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    FUNDAMENTAL PRINCIPLES

    The fundamental principles are:-

    1. The Principle of Utmost Good Faith:-

    The principle of utmost good faith, uberrimae fides (in Latin), literally

    means perfect good faith or abundant good faith. The phrase is used to express that aninsu

    rance contract must be in perfect good faith concealing nothing. The principle is mostly

    discussed in the context of the duty of the insured towards the insured, though it is equally

    applicable to the insurersduty towards the insured.

    From the point of view of the insured, the principle of utmost good faith could formally bedefined as _A positive duty to voluntarily disclose, accurately and fully all facts material

    to the subject matter being proposed, whether requested or not.

    2. The Principle of Indemnity:-

    The principle of indemnity, as applicable to general insurance policies, means that the

    policyholder, after experiencing a loss, is before the loss. The policy indemnifies him or

    guarantees that he would be insuring his assets and recovering more than the loss. This is

    possible since the economic value of an asset at the time of the loss as well as the extent

    of loss can be determined and compensation payable determined accordingly.

    In case of life insurance, however, the economic value of a human life

    cannot be measured precisely before death. It could in a fact be unlimited. Hence, lifeinsur

    ance cannot strictly be a contract of indemnity. This does not, however, mean a person can

    be granted life insurance for an unlimited amount.

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    3. The Principle of Insurable Interest:-

    The third major principle of insurance is that of insurable interest. The existence of

    insurable interest isan essential ingredient of any insurance contract. Insurable interest is

    the legal pre-requisite for insurance.

    A common definition used for insurable interest is thelegal right to insure arising out of

    financial relationship, recognized under law, between the insured and the subject matter of

    insurance.

    It can be seen that insurable interest has three essential elements:

    i. There must be properly, right, interest, life or potential liability capable of being

    insured.

    ii. Such property, right, interest, life or potential liability must be the subject matter

    of insurance.

    iii. The insured must bear a legal relationship to the subject matter such that he

    stands to benefit by the safety of the property, right, interest, life or Freedom of

    liability. By the same token, he must stand to lose by any loss, damage, injury or

    creation of liability.

    4. The Principal of Subrogation:-

    This is the forth principle that is peculiar to general insurance. Subrogation is the legal

    right of the person who has paid for the damage caused by another to recover that

    money from the ship-owner. Subrogation is thus the right of the insurance company

    that pays the claim to recover the same from those who are responsible for causing the

    loss. Contribution, in fact, is a corollary of the principle of indemnity.

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    5. Principle of Contribution:-

    The fifth principle that is peculiar to general insurance is Principle of

    contribution. Contribution, again, is a corollary of the principle of indemnity. Contribution

    implies that if the same property is insured with more than one insurance company, the

    compensation paid by all the insurers together cannot exceed the actual loss suffered. That

    is all the insurers would together indemnify the policyholder for the loss suffered and no

    more. If he were to collect insurance money from all the insurance for the full value, this

    would violate the principle of indemnity, as he would make a profit the loss.

    Life Insurance

    Life insurance (Life Assurance in British English) is a type of insurance. As in all

    insurance, the insured transfers a risk to the insurer. The insured pays a premium and

    receives a policy in exchange. The risk assumed by the insurer is the risk of death of the

    insured.

    How life insurance works

    There are three parties in a life insurance transaction; the insurer, the insured, and theowner of the policy (policyholder), although the owner and the insured are often the same

    person. For example, if John Smith buys a policy on his own life, he is both the owner and

    the insured. But if Mary Smith, his wife, buys a policy on John's life, she is the owner and

    he is the insured. The owner of the policy is called the grantee (he or she will be the

    person who will pay for the policy). Another important person involved is thebeneficiary.

    The beneficiary is the person or persons who will receive the policy proceeds upon the

    death of the insured. The beneficiary is not a party to the policy, but is designated by the

    owner, who may change the beneficiary unless the policy has an irrevocable beneficiary

    designation. With an irrevocable beneficiary, that beneficiary must agree to changes in

    beneficiary, policy assignment, or borrowing of cash value.

    http://en.wikipedia.org/wiki/British_Englishhttp://en.wikipedia.org/wiki/Insurancehttp://en.wikipedia.org/wiki/Beneficiaryhttp://en.wikipedia.org/wiki/Beneficiaryhttp://en.wikipedia.org/wiki/Insurancehttp://en.wikipedia.org/wiki/British_English
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    The policy, like all insurance policies, is a legal contract specifying the terms and

    conditions of the risk assumed. Special provisions apply, including a suicide clause

    wherein the policy becomes null if the insured commits suicide within a specified time for

    the policy date (usually two years). Any misrepresentation by the owner or insured on the

    application is also grounds for nullification. Most contracts have a contestability period,

    also usually a two-year period; if the insured dies within this period, the insurer has a legal

    right to contest the claim and request additional information before deciding to pay or

    deny the claim.

    The face amount of the policy is normally the amount paid when the policy matures,

    although policies can provide for greater or lesser amounts. The policy matures when the

    insured dies or reaches a specified age. The most common reason to buy a life insurance

    policy is to protect the financial interests of the owner of the policy in the event of the

    insured's demise. Other reasons include estate planning and retirement. The owner (if not

    the insured) must have an insurable interest in the insured, i.e. a legitimate reason for

    insuring another persons life. The insurer (the life insurance company) calculates the

    policy prices with intent to recover claims to be paid and administrative costs, and to

    make a profit. The cost of insurance is determined using mortality tables calculated by

    actuaries. Actuaries are professionals who use actuarial science which is based in

    mathematics (primarily probability and statistics). Mortality tables are statistically based

    tables showing average life expectancies. The three main variables in a mortality table are

    age, gender, and use of tobacco. The mortality tables provide a baseline for the cost of

    insurance.

    The insurance company receives the premiums from the policy owner and invests them to

    create a pool of money from which to pay claims, and finance the insurance company's

    operations. Contrary to popular belief, the majority of the money that insurance

    companies make comes directly from premiums paid, as money gained through

    investment of premiums will never, in even the most ideal market conditions, vest enough

    http://en.wikipedia.org/wiki/Actuaryhttp://en.wikipedia.org/wiki/Actuary
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    money per year to pay out claims. Rates charged for life insurance increase with the

    insured's age because, statistically, a people are more likely to die as they get older.

    Since adverse selection can have a negative impact on the financial results of the insurer,

    the insurer investigates each proposed insured (unless the policy is below a company-established minimum amount) beginning with the application, which becomes part of the

    policy. Life insurance companies are never required by law to underwrite or to provide

    coverage on anyone. They alone determine insurability, and some people, for their own

    health or lifestyle reasons, are uninsurable. The policy can be declined (turned down) or

    rated. Rating means increasing the premiums to provide for additional risks relative to that

    particular insured.

    Many companies use four general health categories for those evaluated for a life insurance

    policy. These categories are Preferred Best, Preferred, Standard, and Tobacco. Preferred

    Best means that the proposed insured has no adverse medical history is not under

    medication for any condition, and his families (immediate and extended) have no history

    of early cancer, diabetes, or other conditions. Preferred is like Preferred Best, but it allows

    that the proposed insured is currently under medication for the condition and may havesome family history. Most people are in the Standard category. For example, a person

    who would otherwise be in the Preferred Best category will be denied a policy if he or she

    travels to a high risk country.

    Upon the death of the insured, the insurer will require acceptable proof of death before

    paying the claim. The normal minimum proof is a death certificate and the insurer's claim

    form completed, signed, and oftennotarized.If the insured's death was suspicious and the

    policy amount warrants it, the insurer may investigate the circumstances surrounding the

    death, before deciding whether there is a legal obligation to pay the claim. Proceeds from

    the policy may be paid in a lump sum or as anannuitypaid over time in regular recurring

    payments for either for the life of a specified person or a specified time period.

    http://en.wikipedia.org/wiki/Adverse_selectionhttp://en.wikipedia.org/wiki/Tobaccohttp://en.wikipedia.org/wiki/Notaryhttp://en.wikipedia.org/wiki/Annuityhttp://en.wikipedia.org/wiki/Annuityhttp://en.wikipedia.org/wiki/Notaryhttp://en.wikipedia.org/wiki/Tobaccohttp://en.wikipedia.org/wiki/Adverse_selection
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    BIRLA SUN LIFE INSURANCE

    COMPANY PROFILE

    Birla Sun life Insurance

    Corporate office-| employees- 133000+

    Business- financial services | Establishment- 2000

    Website-www.birlasunlife.com

    http://www.birlasunlife.com/http://www.birlasunlife.com/http://www.birlasunlife.com/http://www.birlasunlife.com/
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    Details- It is financial and insurance company, a joint venture of Aditya Birla and Sun life

    insurance. Company offers life insurance products including health, wealth and retrial

    plans.

    Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the AdityaBirla Group and Sun Life Financial Inc., a leading international financial services

    organisation. The local knowledge of the Aditya Birla Group combined with the expertise

    of Sun Life Financial Inc., offers a formidable value proposition to customers.

    Sun Life Financial and its partners today have operations in key markets worldwide,

    including India, Canada, the United States, the United Kingdom, Hong Kong, Philippines,

    Japan, Indonesia, China and Bermuda. Sun Life Financial Inc. had assets under

    management of over US$ 386.82 billion, as on 31 March 2007. Sun Life Financial Inc. is

    a leading performer in the life insurance market in Canada.

    BSLI in its five successful years of operations has contributed significantly to the growth

    and development of the life insurance industry in India. It pioneered the launch of Unit

    Linked Life Insurance plans amongst the private players in India. It was the first player in

    the industry to sell its policies through the Bank assurance route and through the internet.

    It was also the first private sector player to introduce a pure term plan in the Indian

    market. This was supported by sales practices, which brought a degree of transparency

    that was entirely new to the market. The process of getting sales illustrations signed by

    customers, offering a free look period on all policies, which are now industry standards

    were introduced by BSLI. All this has assisted the company in cementing its place

    amongst the leaders in the industry in terms of new business premium income. The

    company's current capital base is Rs.520 crore.

    Being a customer centric company, BSLI has invested heavily in technology to build

    world class processing capabilities. BSLI has covered more than one and a half million

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    lives since inception and its customer base is spread across 100 cities in India. Birla Sun

    Life Insurance (BSLI), one of the leading private life insurers in India today announced

    the inimitable achiever, cricketer Kapil Dev as their corporate brand ambassador. The

    cricketing supremo will be endorsing BSLI in all its marketing initiatives. Birla Sun Life

    Insurance is a value-driven brand which has a national brand recall of 70 per cent. The

    objective of appointing a brand ambassador is to grow its brand recall as it goes national

    in its distribution reach and fuel business growth. As a brand ambassador, Kapil Dev will

    play a key role in the brand and product marketing and promotional activities. BSLI has

    always used an integrated marketing approach, which will be strengthened further.

    Commenting on the association with Kapil Dev, Mr. S. K. Mitra, Director, Financial

    Services, Aditya Birla Group and currently in charge of BSLI expressed, "The Birla Sun

    Life Insurance business distribution network is national in nature covering more than 1000

    points across the country .We have made our entry in several tier I and tier II towns. It is

    therefore very important for the brand to connect at the grassroot level and create trust.

    We therefore now have two strong connects our parent brand Birla and our brand

    Ambassador Kapil Dev".

    In a study conducted by BSLI, Kapil Dev connected extremely well with the life

    insurance category and had high acceptance by the masses. Our survey suggests that he is

    seen as a very good fit for the BSLI brand. He is very much loved and respected by a vast

    majority of the population.

    On 26 November 2006, Birla Sun Life was host the annual golf tournament at the

    Chembur Golf Club in Mumbai where Kapil Dev was participates.

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    VISION

    To be a world class provider of financial security to individuals and corporates and to be

    amongst the top three private sector life insurance companies in India

    MISSION

    To be the first preference of our customers by providing innovative, need based life

    insurance and retirement solutions to individuals as well as corporates. These solutions

    will be made available by well-trained professionals through a multi-channel distribution

    network and superior technology.

    Our endeavor will be to provide constant value addition to customers throughout their

    relationship with us, within the regulatory framework. We will provide career

    development opportunities to our employees and the highest possible returns to our

    shareholders

    Achievements of BSLI

    1stto introduce ULIP fund options.

    1st to launch illustrations so that customers understand the products better before

    they buy.

    1stto issue NAVs of funds for better transparency.

    1stto disclose portfolio on a monthly basis.

    1stto introduce FreeLook Periodand the same was made mandatory by IRDA for

    all other Life Insurance Companies

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    YEAR AWARDD FROM TITIE

    2011 Golden Peacock Global Awards Secretariat Golden Peacock Award

    2011 Internet Advertising Competition(IAC)Awards 2011

    Best Insurance Integrated adcampaign (Not Jobs But

    Passion campaign)

    2011 Advertising Agencies Association of India &

    Advertising Club Bombay

    Bronze - Media Abby

    Awards at Goa Fest 2011 as

    Best Never Before use of

    Media

    2011 Advertising Agencies Association of India &

    Advertising Club Bombay

    Gold - Creative Abby

    Awards at Goa Fest 2011 as

    Direct marketing

    Dimensional Mail

    2010 APPIES 2010 - Asia Pacific Advertising &

    Marketing Congress

    Silver Medal & a letter of

    appreciation for - Wealth

    with Protection Solutions

    campaign

    2010 14th Annual Webby Awards 2010 Official Nominee - BSLI

    Email marketing campaign

    'Save Forest'

    2009 Institute of Chartered Accountants of India

    (ICAI)

    ICAI Awards for Excellence

    in Financial Reporting -

    Silver in Insurance Category

    2004 Outlook Money Awards 2004 Recruiting and Staffing Best

    in Class Awards2004 Outlook Money Awards 2004 Best Life Insurer (Runner

    Up) 2004 TROPHY

    2005 The Indo-Canadian Business Chamber 'Successful Performance' for

    4 years April 2005

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    2005 The Mayor, David Miller - Toronto A letter sent to BSLI - A

    Message

    2004 Asia Insurance Review Sponsorship

    Acknowledgement for - The

    Asia Insurance Review

    2012 The Institute of Chartered Accountants of India

    (ICAI

    'Gold Trophy' for Financial

    Reporting

    2012 The South Asian Federation of Accountants

    (SAFA)

    'Best Presented Accounts &

    Corporate Governance

    Disclosures Awards

    2012 Golden Peacock Award Excellence in Corporate

    Governance

    2012 Effies Gold in the 'Services

    category'

    2012 Kaan awards Best use of Radio

    2012 Asian Confederation of Businesses Best Employer Brand Award

    2012 Golden Peacock HR Excellence Golden Peacock HR

    Excellence Award

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    SWOT ANALYSIS

    STRENGTH:

    Multi-channel distribution and one of the largest distribution

    networks in India.

    Implementing Six-Sigmaprocess.

    Customer centric products and services.

    Superior investment and risk management framework

    1 Million Policies sold within 3 and half years.

    Company has maximum number of MDRT as well as good number

    ofHNIadvisors.

    Training process of the company is very strong.

    Different plan for different peoples

    According to the change in surrounding environment like changes in customer

    requirement

    WEAKNESS:

    COMPANY does not penetrate on the rural market at a time.

    There is no plan for the low income group.

    Fees for the advisor is high than the other company.

    OPPORTUNITY:

    Insurance market is very big, where company can expand its horizon in

    insurance industry.

    Though good investment and insurance it is easy to top Indian

    customers.

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    The huge insurance market (77%) is left so company has opportunity to

    expand our products.

    To associate with the more number of HNI.

    THREATS:

    OLD HABITS DIE HARD: Its still difficult task to win the confidence

    of public towards private company.

    The company is facing major threats from LIC -which is an only

    government company.

    Plans for all income groups are not available which can create adverse

    effect later on the market share of the company.

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    DETAILS OF PRODUCTS

    Individual Life

    Protection

    Birla Sun Life Term Plan

    Premium Back Term Plan

    Saving

    Birla Sun Life Insurance Gold-Plus

    Supreme Life

    Dream Plan

    Classic Life Premier

    Simply Life

    Prime Life Premier

    Prime Life

    Life Companion

    http://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Protection/insplans_indiv_protection.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Protection/bsl_termplan.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Protection/bsl_termplan.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Protection/bsl_premiumterm.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Protection/bsl_premiumterm.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/insplans_indiv_savings.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_goldplus.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_goldplus.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_supremelife.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_supremelife.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_dreamplan.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_dreamplan.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_classiclifepremier.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_classiclifepremier.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_simplylife.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_simplylife.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_primelifepremier.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_primelifepremier.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_primelife.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_primelife.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_lifecompanion.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_lifecompanion.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_lifecompanion.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_primelife.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_primelifepremier.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_simplylife.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_classiclifepremier.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_dreamplan.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_supremelife.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/bsl_goldplus.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Savings/insplans_indiv_savings.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Protection/bsl_premiumterm.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Protection/bsl_termplan.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/BSLI_InsPlans/Individual/Protection/insplans_indiv_protection.aspx
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    Flexi Cash Flow

    Flexi Save Plus

    Flexi Life Line

    Single Premium Bond

    Retirement

    Flexi Secure Life Retirement Plan II

    Children

    Children's Dream Plan

    Rural

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    Bima Kavach Yojana

    Riders

    Accidental Death and Dismemberment Rider

    Term Rider

    Critical Illness Rider

    Waiver of Premium

    Critical Illness Plus Rider

    Critical Illness - Woman Rider

    Retirement

    Our Retirement Plans allow you to meet your expenses and build a nest

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    egg, which gives you the freedom to live life to the fullest even after

    retirement.

    The post retirement years can be the best years of your life. Time to do things you couldn't

    have done while you were working. A right financial planning makes your post retirement

    years truly golden. Our Sun Life secure Life II assures you just that.

    Birla Sun Life Insurance Co. LtdFollowing are the Life Insurance plans that Birla Sun life Insurance

    Company Ltd.

    1.)Birla Sun Life Insurance Term Plan - This plan can take care of your financial

    commitments of yours towards your family by providing large cover at low cost.

    Minimum age of entry for this plan is 18-55 and maximum maturity age is 70 years.

    2.Birla Sun Life Insurance Premium Back Term Plan - This is a low cost life

    cover promises you to refund the entire premium on maturity or death. Two options

    are also there to choose 100% premium back or 125% premium back. Maximum term

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    period for this plan is 20 years.

    3.Birla Sun Life Insurance Guaranteed Bachat Plan - Its a non-participating

    endowment plan offers you guaranteed returns and chance to earn survival benefit

    from the 3rd year onwards. You can withdraw this benefit each tear or can use it as to

    pay the premium dues.

    4.Birla Sun Life Insurance Money Back Plus Plan - This is also a non-

    participating endowmentplan, which gives you maturity and survival both benefits.

    One remarkable point is that on every policy anniversary it increases your cover byan equal amount of your base premium.

    5.Birla Sun Life Insurance Gold-Plus II - Its an investment plan offering nine-

    funding option tochoose and 100% equity fund option also. Free unlimited switches

    are given to you to manage your investments. This plan offers good liquidity to you.

    6.Birla Sun life insurance Platinum Plus - It is a unit linked, non-participating

    insurance plan. Inthis plan, the investment risk is borne by the policyholder but not

    if this policy is detained till maturity.

    7.Birla Sun Life Insurance Saral Jeevan Plan - In todays fast life its really easy

    to buy an insurance plan, which you immediately can purchase just by providing

    three health statements to the company. Bsli Saral Jeevan is the best option to go for.

    8.Birla Sun Life Insurance Supreme-Life - Its a unit linked non-participating

    plan providing 8-fund options to choose. It gives a choice of two death benefits.

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    9.Birla Sun Life Insurance Dream Plan - Its a unit-linked policy, which provides

    you guaranteed returns, 0% allocation charges, and option to double or triple the

    guaranteed maturity.

    10.Birla Sun Life Insurance Classic Life Premier - It will give you guaranteed

    additions in theform of guaranteed units and a good choice of 8 investment funds

    are also there. You are free to choose the term period of 10, 20, 30 or whole life.

    11.Birla Sun Life Insurance Simply Life - It ensures a lifetime of tax-free

    investments to fulfill theneeds of your dear ones. Its a market related plan provides

    you a good death benefit amount.

    12.Birla Sun Life Insurance Prime Life Premier - Its a single time investmentwith

    top up options.It keeps you hassle free and provides you guaranteed returns at regular

    intervals.

    13.Birla Sun Life Insurance Prime Life - It is a single premium policy gives you

    the benefit of life insurance and investments as well. Its a non-participating ULIP

    policy.

    14.Birla Sun Life Insurance Flexi Cash Flow - For this policy you can pay lump

    sum premiumpayment at regular intervals. It will give you 3% guaranteed returns

    on net policy charges.

    15.Birla Sun Life Insurance Flexi Save Plus - This plan will give you the

    choices of 3 fundoptions, maturity ages & guaranteed returns of 3%.

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    16.Birla Sun Life Insurance Flexi Life Line - This would provide you a lifelong

    cover till 100 years of age and will give you the option of tax-free partial

    withdrawals.

    17.Birla Sun Life Insurance Single Premium Bond - This plan gives you the

    opportunity to makeone time investment with no medical tests and will also give you

    the facility of high entry age. Its a short term investment plan provides you the option

    of 5 years or 10 years term period.

    18.Birla Sun Life Insurance Freedom 58 - Its a non- participating ulip plan. Ithelps you accumulate your premiums and the investment return thereof into a

    corpus of your retirement.

    19.Birla Sun Life Insurance Flexi Secure Life Retirement Plan II - This will

    provide you theoption to take a life cover or not. You can choose your retirement

    age yourself whether you want to prepone/postpone it.

    20.Birla Sun Life Insurance Children's Dream Plan - Its a unit-linked policy,

    which provides youguaranteed returns, 0% allocation charges, and option to double or

    triple the guaranteed maturity.

    Various Plans offered by LIC are as follows:

    Endowment Assurance Plans

    1.Jeevan Amrit: This plan is designed for a higher cover at a lower cost. In this plan

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    premium paymentis limited to 3 or 4 or 5 years and the premium payable during the first

    year is higher than the premiums payable in subsequent years.

    2.New Janaraksha Plan: Is an Endowment Assurance plan that provides financial

    protection against death throughout the term of plan. It pays the maturity amount on

    survival to the end of the term.

    3.Jeevan Mitra (Double Cover Endowment Plan): Is an endowment plan which takes

    care of thefinancial needs even if death of the policyholder for the whole term of the plan.

    4.Jeevan Mitra (Triple Cover Endowment Plan): Is an endowment plan where thrice

    the Sumassured plus all bonuses on the basic sum assured to date is payable in a lump

    sum upon the death of the life assured.

    5.The Endowment Assurance Policy: This policy has provisions for the family of the

    Life Assuredin event of his early death and also assures a lump sum at a desired age.

    6.The Endowment Assurance Policy-Limited Payment: In this policy the payment of

    premium canbe limited either to a single payment or to a term shorter than the policy.

    Children Plans

    1.Jeevan Anurag: Is plan designed for the children educational requirements. This plan

    can be takenon the parents life. The basic sum assured is given immediately on the death

    of the life assured during the term of the policy.

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    Money Back Plan

    1.Bima Bachat: Is a money-back policy which offers financial security and assurance to

    the policyholder and his family. The policy holder has to pay only one premium.

    2.Money Back-20 years: Is an endowment plan where periodic payments of partial

    survival benefitsare paid during the term of the policy till the policy holder is alive. As

    the policy name goes this plan 20% of the sum assured is payable after 5, 10, 15 years and

    the balance 40% accrued bonus is payable at the 20th year.

    3.Money Back 25 years: Is the same as the above plan only in this plan the 40% accrued

    bonus ispayable at the 25th year.

    Pension plans

    1.New Jeevan Dhara - I: is a Deferred Annuity plans that allows the policyholder to

    make provisionfor regular income after the selected term.

    2.New Jeevan Suraksha - I: Is a deferred annuity plan.

    3.Jeevan Nidhi: Is a deferred annuity plan with profits.

    4.Jeevan Akshay - VI: By paying a lump sum amount this immediate annuity plan can

    be bought.

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    Unit Plans

    1.Child Fortune Plus: Is a plan for children and to meet their educational needs. Itsa

    unit linked planwith long term capital appreciation.

    2.Fortune Plus : It is a unit linked assurance plan where premium payment term (PPT) is

    5 years andthe premium payable in the first year will be 50% of total premium payable

    under the policy.

    3.Market Plus: Is a unit linked pension plan where after a specific period the pension is

    paid.

    4.Money Plus - I: Is a unit linked Endowment plan which has investment plus insurance

    during theterm and you can pay regular premiums.

    5.Profit Plus : It is a unit linked Endowment plan where the premium payment term

    (PPT) is limited tosingle lump sum, or uniformly over 3, 4 or 5 years.

    Whole Life Plans

    1.Jeevan Anand: Is a combination of two plans- Endowment Assurance and Whole Life

    plan.

    2.Jeevan Tarang: This is a with-profits whole of life plan which provides for annual

    survival benefit at a rate of 5 % of the Sum Assured after the chosen Accumulation

    Period.

    3.The Whole Life Policy: Is a plan mainly to provide for payment of sum assured plus

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    PRODUCTS

    Life is unpredictable. But in face of adversity, our responsibilities

    towards our parents, children and loved ones need not be

    compromised. Insurance planning equips you to smooth out the

    uncertainties and adversities that life might send your way, so that

    it offers a complete range of insurance products.

    1. Protection Plans

    2. Savings Plans

    3.Child Plans

    4. Investment Plans

    5.Retirement Plans

    6.Group Plans

    7.Rural Plans

    8.Plans for NRIs

    9. Key man Plans

    10.Riders

    Insurance Plans

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    BSLI offers Life Guard - a set of pure protection plans. Choose

    from amongst three different product structures to insure your life

    and provide total security to your family, at a very affordable cost.

    Level Term Assurance with return of premium

    On death the entire sum assured will be paid.

    On maturity, all the premiums paid will be returned.

    Level Term Assurance without return of premium

    On death the entire sum assured will be paid.

    No survival or ma turity benefits.

    You can also enhance the above two policies by adding Accident &

    Disability Benefit Rider and Waiver of Premium Rider (WOP).

    Level Term Assurance - Single premium:

    On death the entire sum assured will be paid.

    No survival or maturity benefits

    Protection Plans

    http://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#fhttp://www.iciciprulife.com/ipru/riders.jsp#fhttp://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#c
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    BSLI offers a variety of policies that give you the benefits of

    protection and the opportunity to save for important assets orevents, like a home, a car or a wedding.

    A regular premium unit-linked insurance plan with an assurance of

    Capital Guarantee# with the added advantage of flexible liquidity

    option. An ideal plan for long term planning with the benefit ofliquidity.

    The key features of the plan are:

    Flexibility to choose a specific level of protection (Sum

    Assured), based on a multiple of the annual premium. You can

    also choose the term of the plan. Flexibility to choose a premium payment term of 5, 7 or 10

    years for a maturity term of 10, 15 or 20 years respectively.

    Flexibility to choose a specific level of protection (Sum

    Assured), based on a multiple of the annual premium.

    At the end of the term, the higher of the value of units or the

    guaranteed value* is paid. On death, Sum Assured along with

    the higher of value of units or the guaranteed value is payable.

    Facility to make withdrawals from the 6th policy year

    onwards till the end of the policy term. Every year withdraw

    up to 10% of the value of units.

    Additional credits payable as a percentage of the initial annual

    premium are paid along with the death or maturity benefit.

    Savings Plans

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    Additional insurance for 10 years after the maturity, for an

    amount of 50% of the Sum Assured.

    Flexibility to make additional investment with the help of the

    top-up facility.

    Flexibility to increase / decrease your annual premium amount

    Facility of Automatic Premium Payment- With this facility

    you can take a temporary break from premium payment. **

    Total transparency with the premium allocations, and other

    charges declared upfront.

    The guaranteed value of the unit fund is the value of all

    invested premiums (premiums net of all charges) along with

    the declared bonus interests.

    Total transparency with the premium allocations, and other charges

    declared upfront.

    The capital guarantee is applicable only on the invested

    premium and the declared bonus interests

    ** With Automatic Premium Payment facility, you can avail a

    temporary break from premium payment for a maximum of 1

    year. This facility is available once if the premium paying term is

    less than 15 years and twice, if it is 15 years or more.

    You can also enhance your policy by adding Accident &

    Disability Benefit Rider, Waiver of Premium Rider and Critical

    Illness Rider.

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    Presenting Premier Life The Preferred plan for the Preferred

    Customer. The key features of the plan are:

    Limited premium payment option: Choose from among a 3, 5, 7

    or 10 year premium paying term.

    Choice of sum assured: Choose a sum assured, which is a

    minimum multiple of 1 and a maximum multiple of 25 times the

    annual contribution.

    Additional allocation of units on a periodic basis.

    Facility to top-up your investment any time you have surplus

    funds.

    Choose from among four funds, based on your investment

    objective and risk appetite.

    Choice to switch between investments options (4 free switches

    every policy year).

    Flexibility to decrease your sum assured.

    Add-on riders to protect you against any eventuality.

    Loans against the policy.

    Protection

    Choose a specified level of protection (available only with Life

    Time).

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    Two levels of Sum Assured to choose from (available only with

    Life Time II).

    Flexibility to increase or decrease your sum assured .

    Add-on riders to protect you against any eventuality.

    Savings

    Flexibility to increase or decrease your contribution.

    Facility of Premium Holiday, wherein the policy continues even

    if there is a temporary break in the payment of annual

    contribution (available only with Life Time).

    Facility of Automatic Cover Continuance, wherein the policy

    continues even if there is a temporary break in the payment of

    annual contribution

    Facility to top-up your investment any time you have surplus

    funds.

    Additional allocation of units on a periodic basis.

    Loans against the policy.

    Investment:

    Choose from among four funds, based on your investment

    objective and risk appetite.

    Choice to switch between investments options (4 free switches

    every policy year).

    You can also enhance your policy by adding Critical Illness Rider,

    Major Surgical Assistance Rider, Accident & Disability Benefit

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    Rider, Accident Benefit Rider (available only with Life Time) and

    Waiver of Premium Rider

    .

    An insurance plan that gives added protection, savings and multiple

    options, all in one!

    The flexibility to choose your premium contribution.

    The flexibility to choose amongst three levels of cover (in theform of sum assured) for the same amount of total annual

    contribution.

    The flexibility of shifting between the three levels of cover, as

    you require.

    The flexibility of receiving your maturity proceeds as a lump

    sum or in equal annual installments over 3 or 5 years.

    You can also enhance your policy by adding Variety of Riders

    An insurance plan that gives you added protection, savings,

    multiple options, plus the power of liquidity.

    The flexibility to choose your premium contribution.

    The flexibility to choose amongst three levels of cover (in the

    form of sum assured) for the same amount of total annual

    contribution.

    The flexibility of shifting between the three levels of cover, as

    you require.

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    The flexibility of receiving your maturity proceeds as a lump

    sum or in equal annual installments over 3 or 5 years.

    The flexibility of withdrawing up to 10% of the accumulated

    value of your policy, after the first 5 policy years.

    You can also enhance your policy by adding Variety of Riders

    An ideal plan for those who want to accumulate funds on a regularbasis while enjoying insurance protection.

    Guaranteed Benefits: Guaranteed additions @ 3.5% of the Sum

    Assured, compounded annually for the first 4 years of the policy.

    Extended Life Cover: An extended cover for 5 years after the

    maturity of the policy, for 50% of the sum assured, at no extra

    cost.

    Maturity Benefit: At the end of the term, the policyholder

    receives the full sum assured, the guaranteed additions and the

    vested bonuses.

    Death Benefit: The beneficiary receives the sum assured, the

    guaranteed additions and the vested bonuses in case the life

    assured were to meet with an unfortunate event. In case the life

    assured is aged 7 years or less, the basic premium paid will be

    returned.

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    As a responsible parent, you will always strive to ensure a hassle-

    free, successful life for your child. However, life is full of

    Uncertainties and even the best-laid plans can go wrong. Heres

    how you can give your child a 100% safe and assured tomorrow,

    whatever the uncertainties. Smart Kid is especially designed to

    provide flexibility and safeguard your childs future education and

    lifestyle, taking all possibilities into account. Choose from amongst

    a basket of 4 plans:

    Smart Kid regular premium

    Smart Kid unit-linked regular premium

    Smart Kid unit-linked regular premium II

    Smart Kid unit-linked single premium II

    All these plans offer you:

    Financial Benefits: Regular payments at critical stages in

    your childs life, like Board examinations, Graduation and

    Post-graduation.

    Total peace of mind, even if you are n ot around

    Child Plans

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    Sum Assured is paid immediately: Ensures that your loved

    ones stay financially secure, even in your absence.

    All future premiums are waived: Ensuring that your family

    is not financially burdened in your absence.

    Policy benefits continue: The educational benefits of the

    policy continue, ensuring that your child can realize his or her

    dreams without any hassles.

    Development Allowance: Smart Kid guarantees regular

    income to secure your childs educational career and also

    ensures his or her all-round development, for a nominal

    additional amount. The Income Benefits Rider takes care of

    this through an annual payment of 10% of the sum assured, to

    your child, till the maturity of the policy, in the unfortunate

    event of the death of the parent. All Smart Kid plans can be

    enhanced with the Accident & Disability Benefit Rider and

    Income Benefit Rider.

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    Life Link II is a unique plan that combines the security

    of a life insurance policy with the opportunity of enjoying high

    returns on your investments, without the market risks compromising

    on the protection of your family!

    Death Benefit: The Sum Assured under the product has 2 options,

    either 500% of the initial premium or 105% of the initial premium.

    In the event of an unfortunate death, the beneficiary will receive

    higher of the value of units or the initial death benefit, less any

    withdrawals.

    Withdrawal Benefit: One can make partial withdrawals from theaccumulated value of the policy after completion of one policy year.

    Flexibility: Choose from four fund options, based on your

    investment objective and risk appetite. If at a later stage your

    financial priorities change, you can switch between the various fund

    options, absolutely free, 4 times a year.

    Investment Plans

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    Life Expectancy has been rising rapidly and today you can

    expect to live longer than your earlier generations. For you, this

    increase will mean a longer retirement life, stretching into a couple

    of decades. BSLI Retirement Solutions that combine the best of

    insurance and investment. These solutions are developed to ensureyour peace of mind for the years to come.

    1. Why plan for retirement?

    2. How much should I set aside for retirement?

    3. The impact of inflation on your retirement savings

    4. Why plan early?

    5. About Annuities

    Why plan for retirement?

    For too many people, the joy of retirement after years of hard work

    is eclipsed by the financial uncertainties that it brings. Despite all

    the planning and saving, you can never sure whether your money

    will last a lifetime. Retirement planning offers a way to ensure a

    more enjoyable, stress free tomorrow. A prudent plan will ensure

    that increasing life expectancy, higher inflation and increasing

    taxes do not eat away into your hard earned savings.

    Retirement Plans

    http://www.iciciprulife.com/ipru/retire2.jsp#ahttp://www.iciciprulife.com/ipru/retire2.jsp#bhttp://www.iciciprulife.com/ipru/retire2.jsp#chttp://www.iciciprulife.com/ipru/retire2.jsp#dhttp://www.iciciprulife.com/ipru/retire4.jsp#topahttp://www.iciciprulife.com/ipru/retire4.jsp#topahttp://www.iciciprulife.com/ipru/retire2.jsp#dhttp://www.iciciprulife.com/ipru/retire2.jsp#chttp://www.iciciprulife.com/ipru/retire2.jsp#bhttp://www.iciciprulife.com/ipru/retire2.jsp#a
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    How much must I set aside for retirement?

    To ensure a comfortable retired life, you would be wise to invest

    money into additional avenues like pension plans. How much youneed to invest can be answered by answering some questions such

    as:

    1.How long do you have to save that amount before retirement ?

    2.Where can you invest your retirement money?

    3.How much risk are you willing to take on your investments?

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    Group Superannuation Plan : A flexible scheme (defined benefit

    and defined contribution) to provide a retirement kitty for each

    member of the group.

    Group Term Assurance: BSLI flexible group term solution helps

    provide affordabl e cover to me mbers of a group. The cover could be

    uniform or based on designation/rank or a multiple of salary, and

    can be extended to all employees between the ages of 18 and 65

    years. The benefit under the policy is paid on the event of the

    members death to the beneficiary nominated by the member. It is a

    one-year renewable policy where one master policy covers all

    proposed employees comprising the group, with a minimum group

    size of 25 persons. New members can join the group and outgoing

    members can leave the group at any point during the policy term.

    Group Gratuity Plan: BSLI group gratuity plan helps employers

    fund their gratuity obligation in a scientific manner. Employers can

    avail of the tax benefits as applicable to approved gratuity funds.

    The plan can also be customized to structure schemes that can

    provide benefits beyond the statutory obligations.

    Group Superannuation Plan: BSLI Superannuation Scheme (for

    both Defined Benefit and Defined Contri bution funds) offers

    substantial benefits to both employers and employees. The employer

    and employee can avail of tax benefits applicable to an approved

    superannuation trust. The scheme will provide for a retirement fund

    for each participating employee. An employee would be able to

    choose from various annuity options or opt for partial commutation

    of corpus at retirement.

    http://www.iciciprulife.com/ipru/groupplan1.jsp#chttp://www.iciciprulife.com/ipru/groupplan1.jsp#c
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    BSLI Rural Products are designed to meet the needs of the rural

    consumers. These products offer the following features:

    1. Low and Affordable Premiums

    2. Life Cover

    3. Savings Option

    4. Hassle free procedure

    BSLI offers 2 specially designed rural plans.

    a) BSLI Endowment Plan

    b) BSLI - Regular Premium

    BSLI Endowment Plan:

    BSLI offers the following features:

    Life Cover and Savings

    Regular Premiums

    Age at entry 18 - 45 Yrs.

    Premium Mode Half Yearly / Yearly

    Term 5, 10, 15 Yrs.

    Sum Assured Rs.5,000 -20,000

    Premium / Year Rs. 507 - 553 ( SA: Rs.10,000)

    Maturity/Death benefit Sum Assured

    Rural Plans

    http://www.iciciprulife.com/ipru/ruralplan1.jsp#ahttp://www.iciciprulife.com/ipru/ruralplan1.jsp#ahttp://www.iciciprulife.com/ipru/ruralplan1.jsp#ahttp://www.iciciprulife.com/ipru/ruralplan1.jsp#ahttp://www.iciciprulife.com/ipru/ruralplan1.jsp#bhttp://www.iciciprulife.com/ipru/ruralplan1.jsp#bhttp://www.iciciprulife.com/ipru/ruralplan1.jsp#bhttp://www.iciciprulife.com/ipru/ruralplan1.jsp#a
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    BSLI - Regular Premium:

    BSLI is a regular premium policy with the following features:

    Individual policy

    Only Life cover

    Term - 3 & 5 Yrs.

    Age independent premium

    Age at entry 18 - 45 Yrs.

    Sum Assured Single

    Premium / Year Rs 50 200

    Maturity/Death benefit Rs.5,000 - 20,000

    Death Benefit Sum Assured

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    NRI Plans:

    Being away from India doesn't mean you have to compromise the

    safety and security of your loved ones. In fact, your savings from

    your time overseas can be easily canalized to meet your family's

    needs - now and in the future. So, whether its your dream to retire

    in your hometown; to secure funds for your children's education; or

    to build assets, BSLI has a range of solutions that can be

    customized to meet your needs.

    Monopoly in the insurance sector.

    WHY INSURANCE I N I NDIA:

    Only 22% of the insurance population has been extended cover. Market

    penetration is low and the potential to exploit is high. Insurance premium per capita is very low.

    Lack of comprehensive social system benefit and welfare means that

    demand for pension products is high.

    Huge middle class of approximately 300 Million.

    Existing insurance company score low on customer service front.

    Plans for NRIs

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    46

    FINANCIAL STATEMENT OF BIRLA SUN INSURANCE

    REVENUE STATEMENT

    Form L-1- A- RA

    Birla Sun life Insurance Company Limited

    Registration Number: 109 dated 31st January 2001

    Condensed Revenue Account for the quarter ended 30th June, 2013

    Policyholders' Account (Technical Account)

    (Amounts in thousands of Indian Rupees)Audited Audited

    Particulars FormQuarter ended

    30th June 2013

    Quarter ended

    30th June 2012

    Premiums earned Net

    (a) Premium L-4 9,212,639 11,303,238(b) Reinsurance ceded (350,992) (347,939)

    (c) Reinsurance accepted - -

    Sub Total 8,861,647 10,955,299

    ncome rom nvestments

    (a) Interest, Dividend & Rent - Gross 3,032,684 3,036,709

    (b) Profit on Sale / Redemption of Investments 2,457,377 1,801,549

    (c) (Loss) on Sale / Redemption of Investments (2,367,366) (2,169,898)

    (d) Transfer/Gain ( Loss) on revaluation / Change in Fair value 2,090,518 894,029

    (e) Gain / (Loss) on Amortisation (737) (11,771)

    Sub Total 5,212,476 3,550,618

    Other Income

    (a) Contribution from the Shareholders' Account 851,699 752,316(b) Others (Interest etc.) 96,686 75,358

    Sub Total 948,385 827,674

    Total (A) 15,022,508 15,333,591

    Commission L-5 311,578 619,609

    Operating Expenses related to Insurance Business L-6 2,494,753 2,858,186

    Provision for doubtful debts - -

    Bad Debts written off - -

    Provision for Tax (including earlier years) - -

    Provision (other than taxation)

    (a) For diminution in value of investments (net) - -

    (b) Others - -

    Total (B) 2,806,331 3,477,795

    Benefits paid (Net) L-7 9,874,573 6,727,418Interim Bonuses Paid - -

    Change in valuation of liability in respect of life policies

    (a) Gross 1,173,695 1,109,193

    (b) Fund Reserve (186,183) 2,140,741

    (c) Premium Discontinuance Fund - Linked 904,164 410,349

    (d) (Amount ceded in Re-insurance) (896,582) (135,312)

    (e) Amount accepted in Re-insurance - -

    Total (C) 10,869,667 10,252,389

    Surplus (D) = (A) - (B) - (C) 1,346,510 1,603,407

    Appropriations

    Transfer to Shareholders' Account 1,891,318 1,984,306

    Transfer to Other Reserve - -

    (Release from) / Transfer to Funds for Future Appropriation (544,808) (380,899)

    Total (D) 1,346,510 1,603,407

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    PROFIT AND LOSS ACCOUNT

    Form L-2-A- PL

    Birla Sun life Insurance Company LimitedRegistration Number: 109 dated 31st January 2001

    Condensed Profit and Loss Account for the quarter ended 30th June, 2013

    Shareholders' Account (Non - Technical Account)

    (Amounts in thousands of Indian Rupees)

    Audited Audited

    Quarter ended Quarter ended

    Particulars 30th June 2013 30th June 2012

    Amounts transferred from Policyholders' Account (Technical Account) 1,891,318 1,984,306

    Income from Investments

    (a) Interest, Dividend & Rent - Gross 280,115 231,794(b) Profit on sale / redemption of investments 63,883 9,282

    (c) (Loss) on sale / redemption of investments (7,361) (29)

    (d) Gain / (Loss) on Amortisation (1,413) (410)

    Other Income - -

    Total (A) 2,226,542 2,224,943

    Expense other than those directly related to the insurance business 19,119 1,136

    Bad debts written off - -

    Provision (other than taxation)

    (a) For diminution in the value of investment (net) - -

    (b) Provision for doubtful debts(c) Others

    (d) Contribution to the Policyholders' Account

    --

    851,699

    --

    752,316

    Total (B) 870,818 753,452

    Profit before tax

    Provision for taxation

    1,355,724

    -

    1,471,491

    -

    Profit after tax 1,355,724 1,471,491

    Appropriations

    (a) Balance at the beginning of the period (12,424,921) (13,762,293)(b) Interim dividends during the period

    (c) Proposed final dividend

    (d) Dividend distribution tax(e) Transfer to reserves / other accounts

    -

    -

    --

    -

    -

    --

    Loss carried forward to Balance Sheet (11,069,197) (12,290,802)

    Earning Per Share (Basic and Diluted), Face Value of Rs. 10 (in Rs.) 0.70 0.75

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    Form L-3-A-BS

    Birla Sun life Insurance Company Limited

    Registration Number: 109 dated 31st January 2001

    Condensed Balance Sheet as at 30th June, 2013

    (Amounts in thousands of Indian Rupees)

    Audited Audited

    Particulars

    As at

    30th June 2013

    As at

    30th June 2012

    Sources of Funds

    Shareholders' funds:

    Share Capital 19,012,080 19,695,000

    Reserves and Surplus 3,089,075 4,800,000

    Credit/(Debit) / Fair Value Change Account 1 1,669

    Sub Total 22,101,156 24,496,669

    Borrowings - -

    Policyholders' Funds:

    Credit/(Debit) Fair Value Change Account 2,087 2,701

    Policy Liabilities 20,577,473 15,292,701

    Provision for Linked Liabilities

    Funds for discontinued policies

    (i) Discontinued on account of non-payment of premium

    184,792,295

    2,954,576

    181,306,926

    848,288

    (ii) Others - -Credit/(Debit) Fair Value Change Account (Linked) 6,341,833 1,760,075

    Total Linked Liabilities 194,088,704 183,915,289

    Sub Total 214,668,264 199,210,691

    Funds for Future Appropriation

    - Linked Liabilities 1,550,869 3,577,971

    Total 238,320,289 227,285,331

    Application of Funds

    Investments

    Shareholders' 11,958,326 11,677,587

    Policyholders' 23,110,589 20,232,713

    Assets Held to Cover Linked Liabilities 194,088,704 183,915,289

    Loans 278,953 231,780

    Fixed Assets 310,440 377,658

    Current Assets

    Cash and Bank Balances 4,150,652 4,435,829

    Advances and Other Assets 3,000,826 2,414,992

    Sub - Total (A) 7,151,478 6,850,821

    Current Liabilities 8,003,111 7,666,468

    Provisions 1,644,287 624,851

    Sub - Total (B) 9,647,398 8,291,319

    Net Current Assets (C) = (A-B) (2,495,920) (1,440,498)

    Miscellaneous Expenditure

    (To the extent not written off or Adjusted ) - -

    Debit Balance in Profit and Loss Account (Shareholders' Account ) 11,069,197 12,290,802

    Total 238,320,289 227,285,331

    Contingent liabilities

    Sr No Particulars As at 30th June 2013 As at 30th June 2012

    1

    2

    3

    4

    5

    6

    7

    Partly paid-up investments

    Claims, other than against policies, not acknowledged as debts by the Company

    Underwriting commitments outstanding Guarantees given

    by or on behalf of the Company Statutory demands /

    liabilities in dispute, not provided for

    Reinsurance obligations to the extent not provided for in the accounts

    Others *

    Nil

    25,961

    Nil

    Nil

    Refer Note Below

    Nil

    40,387

    Nil

    25,961

    Nil

    Nil

    Refer Note Below

    Nil

    167,674

    * Represents potential liability to the Company (net of reinsurance) in

    respect of cases filed against the Companys decision of repudiation

    of death claims and customer complaints.(Total Liability is of Rs.

    248,042/- out of which Rs. 99,216/- is provided in thebooks duringthe quarter)

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    MARKET STRUCTURE

    Data released by insurance sector regulator IRDA shows that the first

    year premium of the life insurers for the period of December, 2010 is

    again predominantly in favor of LIC. Herein mentioned are some

    statistics given by IRDA regarding the individual single premium of

    several life insurers in December 20101:-

    1. Bajaj Allianz - 77.26 crore

    2. ING Vyasa - 2.58 crore

    3. Reliance Life - 80.26 crore

    4. SBI life - 248.54 crore

    5. Tata AIG - 14.02 crore

    6. HDFC standard - 136.72 crore

    7. ICICI prudential - 251.97 crore

    8. Birla Sun Life - 9.73 crore

    9. Aviva - 21.57 crore

    10. Max New York - 25.15 crore

    11. Met Life - 33.86 crore

    12. Shriram Life - 44.90 crore

    13. IDBI federal - 21.11 crore

    14. Star Union Dai-ichi - 44.98 crore

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    15. LIC - 1774.43 crore

    These are some top companies and there premium collected in December 2010

    which clearly depicts that LIC has lucrative market dominance and other privateplayers have a small market share. Such figures explain that LIC is a dominant

    entity and can influence competition in market negatively due to the regulation

    of the regulatory body and the government.

    Talking about the number of lives covered under group single premium upto

    December, 2010 for some major companies are as follows according to the data

    released by IRDA on basis of data submitted by these insurance companies:-

    1. Bajaj Allianz - 105972

    2. Reliance life - 508352

    3. SBI Life - 239465

    4. Tata AIG - 57543

    5. HDFC Standard - 175291

    6. ICICI Prudential - 1793883

    7. Kotak Mahindra - 359582

    8. Max New York - 1495603

    9. Shriram Life - 216448

    10. LIC - 27020588

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    Apart from these companies like Aegon Religare and Birla Sun life has 959 and

    995 lives covered upto December 2010. This is evident in itself to prove my

    point that knowing or unknowingly but the regulation in the insurance sector is

    giving an undue advantage to LIC and leading to unfair competition. The top 5

    life insurance companies in India control 85% of the market-share while the

    remaining dozen are still struggling to setup their operation. If we see the entire

    market amongst private players only excluding LIC in life insurance sector we

    would see there is hardly any private player which has a grip over the market.

    Fig: - market split up of private life insurers only excluding LIC

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    DATA ANALYSIS AND INTERPRETATIONAge Group of the Respondents

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    Nature of Family

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    Annual Income

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    The Role of Investment for Successful Life

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    Familiarity with Insurance Products

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    Preferences for Investment Options

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    Reason for Investment Options

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    Insurance Policy Holders

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    Rating Birla Sun Life Insurance Plans

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    Performance Level of the Company

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    4) Comparison between BSLIs Retirement plan and LICsNew Jeevan

    Suraksha plan.

    In BSLI plan entry age is 18-80 years. In LIC plan entry age is 18-70 yrs.

    In BSLI plan vesting age is 10-40 yrs.

    from entry age (Max. 90yrs.)

    In LIC plan vesting age is 50-79 yrs.

    In BSLI plan min. premium is 9600

    p.a.

    In LIC plan min. premium is 3000 p.a.

    Premium paying frequency is same i.e. yearly, half yearly, quarterly, and

    monthly

    Death Benefits:

    In BSLI plan the unfortunate event of death of the policyholder the nominee

    will receive the higher of:

    75% of the base premium and all renewal base premiums paid. OR the

    surrender value at the time plus all accumulated survival benefits.

    In LIC plan

    If death occurs within 10 years - 3% (interest on all premium given)

    Between 11 to 20 years 4%

    After 20 years 5%

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    COMPLAINT AGAINST BIRLA SUN LIFE INSURANCE

    Dear Sir/Madam

    Please treat this letter as a formal complaint against Birla Sun Life Insurance

    Company, for not giving my surrender money on time and not taking my

    complaints seriously. I want to draw your kind attention towards this issue that I

    have surrendered my Policy no. 001248952 on 9th Oct. 2010 at 11: 39 am in

    Birla Sun lifes Kamla Nagar Branch & they says me that I've received

    surrendered amount in 10 days but I dont received so I call theircustomer

    care on 20th Oct. & they says me that they received my policy documents on

    19th when I ask them that I surrendered on 9th she says me that mail

    that acknowledgement slip to them so i do so then I received call from their

    back office on 24th October that they received my documents on 21th October

    & if I surrendered on 9th then I have to go to the branch & talk to BOE after

    that I go to the branch & their BOE talk with them & lodged my Complaint.

    Complaint No. is 018-916-127 they assured me that Ive receive my amount in

    3-4 days but I didnt received notice date. I again call them many times after

    that but I've not received any satisfied reply from them they r just told me again

    & again that I've received my amount in 2-3 days but I dont know that these 2-

    3 days when will come. so please guide me what should I do to get my money.

    Sir I'll be very thankful to you if you take this matter & solve my problem

    because I need moneyurgently due to some family problems. I am sending thatacknowledgement letter with date & time stamp pls. find attached with this

    mail.

    Regards

    Ravi

    9818775750

    Policy No. 001248952 Birla Sun LifeComplaint No. 018-916-127 Dated: 24-10-2010

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    CONCLUSION

    The market potential for private insurance companies is found to be greater in

    the long run as most of the Indians are of the opinion that, private insurance

    companies would be able to preform well in the future. The private and foreign

    insurance companies have to take immediate steps in appointing more number

    of agents and\or advisors in addition to the employees as it has been found out

    that agents are the best channels to reach the general public regarding selling of

    insurance products. The private and foreign insurance companies have to

    concentrate on the factors like Prevention of Loss, Assured Returns and

    Long Term Investment. They can also focus on an insurance amount of RS 1-

    2 lakhs with money back policyhence, the market has potential. The private

    and foreign companies that are taking immediate steps can tap it easily and

    rapidly.

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    WEBILOGRAPHY

    http://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attach

    ments/723/Form-L-1.pdf

    http://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attach

    ments/724/Form-L-2.pdf

    http://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attach

    ments/726/Form-L-3.pdf

    http://insurance.birlasunlife.com/Pages/Individual/About-

    Us/Awards.aspx

    http://www.slideshare.net/rennymp/project-at-birla-sun-life

    http://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attachments/723/Form-L-1.pdfhttp://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attachments/723/Form-L-1.pdfhttp://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attachments/724/Form-L-2.pdfhttp://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attachments/724/Form-L-2.pdfhttp://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attachments/726/Form-L-3.pdfhttp://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attachments/726/Form-L-3.pdfhttp://insurance.birlasunlife.com/Pages/Individual/About-Us/Awards.aspxhttp://insurance.birlasunlife.com/Pages/Individual/About-Us/Awards.aspxhttp://www.slideshare.net/rennymp/project-at-birla-sun-lifehttp://www.slideshare.net/rennymp/project-at-birla-sun-lifehttp://insurance.birlasunlife.com/Pages/Individual/About-Us/Awards.aspxhttp://insurance.birlasunlife.com/Pages/Individual/About-Us/Awards.aspxhttp://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attachments/726/Form-L-3.pdfhttp://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attachments/726/Form-L-3.pdfhttp://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attachments/724/Form-L-2.pdfhttp://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attachments/724/Form-L-2.pdfhttp://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attachments/723/Form-L-1.pdfhttp://insurance.birlasunlife.com/Lists/LIUSPublicDisclosure/Attachments/723/Form-L-1.pdf