final sip

SUMMER INTERNSHIPREPORT ON

SUBMITTED TO: SUBMTTED BY:MR. AMAR JOHRI MONIKA SINGH B.B.A. V. SEM FINANCE

ACKNOWLEDGEMENTA summer project is a golden opportunity for learning and self development. I consider myself very lucky and honored to have so many wonderful people lead me through in completion of this project.I wish to express my indebted gratitude and special thanks to " Naveen Kapoor " who in spite of being extraordinarily busy with her/his duties, took time out to hear, guide and keep me on the correct path and allowing me to carry out my industrial project work at their esteemed organization and extending during the training .I do not know where I would been without him.A humble Thank you Sir.I express my deepest thanks to Prof. ............ for their guidance and support. He supported to us by showing different method of information collection about the company. He helped all time when we needed and he gave right direction toward completion of project.I extend my gratitude to GRAPHIC ERA UNIVERSITY for giving me this opportunity. It is not possible to prepare a project report without the assistance & encouragement of other people. This one is certainly no exception. Every work accomplished is a pleasure sense of satisfaction. However a number of people always motivate, criticize and appreciate a work with their objective, ideas and opinions. On the very outset of this report, I would like to extend my sincere & heartfelt obligation towards all the personages who have helped me in this endeavor. Thanking YouMONIKA SINGH

PREFACEB.B.A. is a stepping stone to the management carrier and to develop good manager it is necessary that the theoretical must be supplemented with exposure to the real environment. Theoretical knowledge just provides the base and it is not sufficient to produce a good manager. Thats why practical knowledge is needed.Therefore the summer internship is an essential requirement for the student of B.B.A. This research project not only helps the student to utilize her skills properly learn field realities but also provides a chance to the organization to find out talent in the budding managers in the very beginning. In accordance with the requirement of my B.B.A. course I have done my summer training project on the topic EQUITY SHARE PRICE BEHAVIOUR. The main objective of the research was to analyze various factors effecting equity share price. The Indian capital market has witnessed a tremendous growth. There was an explosion of investors interest during the nineties and equity guilt emerged in statutory legislations has helped the capital market. Foreign exchange regulation act is one such legislation in this direction.My work in this project is therefore, a humble attempt towards this end. In spite of my best efforts there may be errors of omission and commissions, which may please be excused.

EXECUTIVE SUMMARY

DECLARATION BY STUDENTI, the undersigned, hereby declare that the project report entitled, EQUITY SHARE PRICE BEHAVIOUR submitted by me to GRAPHIC ERA UNIVERSITY, in partial fulfillment of the requirement for the award of degree of BACHELORS OF BUSSINESS ADMINISTRATION under the guidance of MR. AMAR JOHRI, is my original work and the conclusions drawn there in are based on the data collected by myself.The report submitted is my own work and has not been duplicated from any other source. I shall be responsible for any unpleased moment or situation.

Place: DEHRADUN Date:MONIKA SINGH

INDUSTRY PROFILE

An Introduction to insurance

What is insurance?Insurance is a contract between the insurance company (insurer) and the policyholder (insured). In return for a consideration (the premium), the insurance company promises to pay a specified amount to the insured on the happening of a specific event.

History of insurance sector in India

The history of insurance can be divided into three phase as follows: Phase I Pre-Liberalisation

Phase II - Liberalisation

Phase III Post Liberalisation

Phase I Pre- liberalization1818 1829: First insurance company; in 1818 the Oriental Life Insurance Company in Kolkata (then Calcutta) was the first company to start a life insurance business in India. However, the company failed in 1834. In 1829 the Madras Equitable had begun transacting life insurance business in Madras Presidency.1870: Following the enactment of British Insurance Act 1870, the last three decades of the nineteenth century saw the creation of the Bombay Mutual (1871), Oriental (1874) and empire of India (1897) in the Bombay Residency.1912: The Indian Life Assurance Companies Act 1912 was the first statutory measure to regulate life business.1928: The Indian Insurance Companies Act1928 gave the government the power to collect statistical information about both life and non life business transacted in India by Indian and foreign insurer, including provident insurance societies.1938: To protect the interest of the insuring public, the earlier legislation was consolidated and amended by The Insurance act 1938 which gave the government effective control over the activities of insurers.1950s: In the 1950s, competition in the insurance business was very high and there were allegations of unfair trade practices. The Government of India therefore decided to nationalize insurance business.1957: Formation of The General Insurance Council (GI Council).1972: The General Insurance Business Act 1972(GIBNA) was passed under section 9(1). Phase II Liberalization1993: Malhotra Committee: in 1993 the government set up a committee under the chairmanship of R .N. Malhotra, the former Governor of RBI, to make recommendation for the reform of the insurance sector. In its report 1994, the committee recommended, among other thing, that the private sector and foreign companies be permitted to enter the insurance industry.1999: Formation of the IRDA, the insurance regulatory and development authority to regulate and develop insurance industry. The IRDA was incorporated as a statutory body in April 2000.

Phase III Post- liberalizationGeneral Insurance Business (nationalization) Amendment Act 2002, effective from 21 march 2003, GIC ceased to be a holding company of its four subsidiaries. GIC was notified as a reinsurance company. And also, various amendments were taken place.

Type of Insurance OrganizationInsurance organization are divided into three main categories. Life insurance

Non - life insurance

Reinsurance

Life Insurance companiesLife insurance companies cover risk that relate to human lives. They offer different benefits under different types of product and cover the risk of early death, as well as the risk of living into old age. Under traditional plans, like term insurance plan, insurance companies provide death cover. If the insured person dies within the term of policy then the nominee / beneficiary is paid a specified amount (also known as the sum assured). Non-life Insurance companiesNon-life insurance companies generally cover risk other than those relating to humans lives. The exceptions are personal accident and health insurance, which are provided by Non-life insurance companies. Any asset either giver monetary return (e.g. a house given on rent),or offer convenience(e.g. a car which can be used to travel from one place to another) can be insured. ReinsuranceA reinsurer is an insurer for the insurance company as per section A2.

Main life insurance productsThese are of five types: Term insurance plans Endowment insurance plans Whole life insurance plan Pension and saving plans Unit linked insurance plan(ULIPs)

Non - life insurance product Fire insurance Marine insurance Miscellaneous Motor insurance Property insurance Liability insurance Health insurance Travel insurance Insurance distributionMarketing of insurance products is done through two channels: Direct marketing channels Indirect marketing channels

Direct channels of marketing:These are those where customer directly meets to the insurance company and buy its product without the intervention of any agents.

Indirect channels of marketing: Individual agents Insurance brokers Direct brokers Reinsurance brokers Composite brokers Comparison websites

Life Insurance Companies in India1. HDFC Standard Life Insurance Co. Ltd.2. Max New York Life Insurance Co. Ltd.3. ICICI Prudential Life Insurance Co. Ltd.4. Kotak Mahindra Old Mutual Life Insurance Co. Ltd.5. Birla Sun Life Insurance Co. Ltd.6. Tata AIG Life Insurance Co. Ltd.7. SBI Life Insurance Co. Ltd.8. ING Vysya Life Insurance Co. Ltd.9. Bajaj Alliance Life Insurance Co. Ltd.10. Met Life Insurance Co. Ltd.11. Reliance Life Insurance Co. Ltd.12. Aviva Life Insurance Co. Ltd.13. Sahara India Life Insurance Co. Ltd.14. Shri ram Life Insurance Co. Ltd.15. Bharti AXA Life Insurance Co. Ltd.16. Future Generali India Life Insurance Co. Ltd.17. IDBI Federal Life Insurance Co. Ltd.18. Canara HSBC OBC Life Insurance Co. Ltd.19. Aegon Religare Life Insurance Co. Ltd.20. DLF Pramerica Life Insurance Co. Ltd.21. Life Insurance Corporation of India22. Star Union Dai-ichi Life Insurance Co. Ltd.23. India First Life Insurance Company Limited.

IDBI Bank LimitedBank Aisa Dost Jaisa Type - Public Sector Traded as- BSE :500116 Industry- Provide Banking & Financial services Predecessor IDBI Limited Founded- July 1964 Headquarters Mumbai, India Key people- M.S. Raghavan (Chairman&MD) Products -consumer banking,corporate banking, finance and insurance,investment banking, mortgage loans,private banking,private equity,wealth management, Agriculture Loan Revenue- 282.84 billion Operating Net income- 54.58 billion Income- 18.82 billion Total Assets-3.23 trillion Employees- 15465(march 2013)

About IDBI Federal Life InsuranceIDBI Federal Life Insurance Co Ltdis a joint-venture of IDBI Bank, Indias premier development and commercial bank, Federal Bank, one of Indias leading private sector banks and Ageas, a multinational insurance giant based out of Europe. In this venture, IDBI Bank owns 48% equity while Federal Bank and Ageas own 26% equity each. . Having started in March 2008, in just five months of inception, IDBI Federal became one of the fastest growing new insurance companies to garner Rs 100 Cr in premiums. Through a continuous process of innovation in product and service delivery IDBI Federal aims to deliver world-class wealth management, protection and retirement solutions that provide value and convenience to the Indian customer. The company offers its services through a vast nationwide network of 2137 partner bank branches of IDBI Bank and Federal Bank in addition to a sizeable network of advisors and partners. As on 28th February 2013, the company has issued over 8.65 lakh policies with a sum assured of over Rs. 26,591 Cr.IDBI Federal today is recognized as a customer-centric brand, with an array of awards to their credit. They have been awarded the PMAA Awards (2009) for best Dealer/Sales force Activity, EFFIE Award (2011) for effective advertising, and conferred with the status of Master Brand 2012-13 by the CMO Council USA and CMO Asia..The Bank has an aggregate balance sheet size of INR 3.2trillion as on 31 March 2013

About the sponsors of IDBI Federal Life Insurance Co Ltd

IDBI Bank Ltd.continues to be, since its inception, Indias premier industrial development bank. It came into being as on July 01, 1964 (under the Companies Act, 1956) to support Indias industrial backbone. Today, it is amongst Indias foremost commercial banks, with a wide range of innovative products and services, serving retail and corporate customers in all corners of the country from 1077 branches and 1702 ATMs. The Bank offers its customers an extensive range of diversified services including project financing, term lending, working capital facilities, lease finance, venture capital, loan syndication, corporate advisory services and legal and technical advisory services to its corporate clients as well as mortgages and personal loans to its retail clients. As part of its development activities, IDBI Bank has been instrumental in sponsoring the development of key institutions involved in Indias financial sector National Stock Exchange of India Limited (NSE) and National Securities Depository Ltd, SHCIL (Stock Holding Corporation of India Ltd), CARE (Credit Analysis and Research Ltd).

Federal BankFederal Bankis one of Indias leading private sector banks, with a dominant presence in the state of Kerala. It has a strong network of over 1060 branches and 1158 ATMs spread across India. The bank provides over four million retail customers with a wide variety of financial products. Federal Bank is one of the first large Indian banks to have an entirely automated and interconnected branch network. In addition to interconnected branches and ATMs, the Bank has a wide range of services like Internet Banking, Mobile Banking, Tele Banking, Any Where Banking, debit cards, online bill payment and call centre facilities to offer round the clock banking convenience to its customers. The Bank has been a pioneer in providing innovative technological solutions to its customers and the Bank has won several awards and recommendations.

About Ageas Group

Ageasis an international insurance group with a heritage spanning more than 180 years. Ranked among the top 20 insurance companies in Europe, Ageas has chosen to concentrate its business activities in Europe and Asia, which together make up the largest share of the global insurance market. These are grouped around four segments: Belgium, United Kingdom, Continental Europe and Asia and served through a combination of wholly owned subsidiaries and partnerships with strong financial institutions and key distributors around the world. Ageas operates successful partnerships in Belgium, UK, Luxembourg, Italy, Portugal, Turkey, China, Malaysia, India and Thailand and has subsidiaries in France, Hong Kong and UK. Ageas is the market leader in Belgium for individual life and employee benefits, as well as a leading non-life player through AG Insurance. In the UK, Ageas has a strong presence as the fourth largest player in private car insurance and the over 50s market. Ageas employs more than 13,000 people and has annual inflows of more than EUR 21 billion.

IDBI Federal Life Insurance Co. Ltd.,(formerly IDBI Fortis Life Insurance) is a joint venture between three financial companies development and commercial bank,IDBI Bank,Indias private sector bank,Federal Bankand European insurerAgeas(formerlyFortis), which was formed on March 2008.In this venture, IDBI Bank owns 48% equity while Federal Bank and Ageas own 26% equity each.

Details of IDBI 2006: IDBI Bank, Federal Bank and Belgian-Dutch insurance major Fortis Insurance International NV signed a MoU to start a life insurance company 2008: IDBI Fortis Life Insurance Co. Ltd., which started its operations in March 2008 2008: IDBI Fortis opens its second branch in Andhra Pradesh in Vijayawada 2008: IDBI Fortis Life positive on assured return products 2008: IDBI Fortis launches the Bondsurance Plan 2009: IDBI Fortis announces Rs 250cr capital infusion 2009: Nimbus ropes in IDBI Fortis as title sponsor of IndiaSri Lanka series 2009: 'IDBI Fortis' Boss-Ka-Boss receives PRCI Award 2009: IDBI Fortis launches Retiresurance Pension Plan 2009: IDBI Fortis scores with Goalsurance 2009: IDBI Fortis reaches the banks of Hoogly 2009: IDBI Fortis launches Incomesurance Immediate Annuity 2009: IDBI Fortis Life Insurance uses an interactive application to help users easily calculate their taxes 2009: IDBI Fortis reaches the City of Eastern Light 2009: IDBI Fortis receives bronze Dragon at 'PMAA 2009' 2009: IDBI Fortis Life Insurance introduces financial inclusion plan in rural Orissa 2009: IDBI Fortis launches Termsurance Protection Plan 2009: IDBI Fortis redefines endowment & money back with Incomesurance 2009: IDBI Fortis to open 65 more branches; raise headcount by 1,000 2010: IDBI Fortis now renamed as IDBI Federal Life Insurance Company

Technology To monitor and manage its network equipment across 34 sites, IDBI Federal uses Tulip Proactive Managed CE solution. The solution includes device management, proactive troubleshooting and notification support. With the implementation of the solution, IDBI has reported improvement of network performance and availability, with a faster, more effective change and configuration management ProductsIDBI Federal launched its first set of products across India in March 2008, after receiving the requisite approvals from theInsurance Regulatory and Development Authority(IRDA). IDBI Federal offers services through a nationwide network across the branches of IDBI Bank and Federal Bank in addition to a network of advisors and partners. IDBI Federal has 1201 branches across the country.

SponsorshipIDBI Federal Life Insurance Company was the title sponsor for the India-Sri Lanka Cricket Series 2009, consisting of five One-Day Internationals and a Twenty 20 match. The ODI series was called the IDBI Fortis Wealthsurance Cup. This was followed by the IDBI Fortis Wealthsurance Twenty20.Wealthsurance Made Easy (WME), a knowledge aid by IDBI Federal for its sales force, won The Bronze Dragon in the category for Best Dealer/Sales Force activity at the Promotion Marketing Awards of Asia (PMAA).

History of IDBI

IDBI Bank Limitedis an Indian government-ownedfinancial servicecompany, formerly known as Industrial Development Bank of India, headquartered inMumbai, India. It was established in 1964 by anAct of Parliamentto provide credit and other financial facilities for the development of the fledgling Indian industry.It is currently 10th largest development bank in the world in terms of reach, with 2567 ATMs, 14737 branches, including one overseas branch at Dubai, and 996 centers, including two overseas centre at Singapore & Beijing.IDBI Bank is on a par with nationalized banks and the SBI Group as far as government ownership is concerned. It is one among the 26 commercial banks owned by the Government of India.

1. Formation of Industrial Development Bank of India (IDBI)The Industrial Development Bank of India (IDBI) was established in 1964 under an Act of Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 1976, the ownership of IDBI was transferred to the Government of India and it was made the principal financial institution for coordinating the activities of institutions engaged in financing, promoting and developing industry in India. IDBI provided financial assistance, both in rupee and foreign currencies, for green-field projects as also for expansion, modernization and diversification purposes. In the wake of financial sector reforms unveiled by the government since 1992, IDBI also provided indirect financial assistance by way of refinancing of loans extended by State-level financial institutions and banks and by way of rediscounting of bills of exchange arising out of sale of indigenous machinery on deferred payment terms.After the public issue of IDBI in July 1995, the Government shareholding in the Bank came down from 100% to 75%.IDBI played a pioneering role, particularly in the pre-reform era (196491), in catalyzing broad based industrial development in India in keeping with its Government-ordained development banking charter.Some of the institutions built with the support of IDBI are theSecurities and Exchange Board of India(SEBI),National Stock Exchange of India(NSE), theNational Securities Depository Limited(NSDL), theStock Holding Corporation of India Limited(SHCIL), theCredit Analysis & Research Ltd, theExim Bank (India), theSmall Industries Development Bank of India(SIDBI) and theEntrepreneurship Development Institute of India.

2. Conversion of IDBI into a commercial bankA committee formed by RBI under chairmanship of S.H.Khan recommended the development financial institution (IDBI) to diversify its activity and harmonize the role of development financing and banking activities by getting away from the conventional distinction between commercial banking and developmental banking. To keep up with reforms in financial sector, IDBI reshaped its role from a development finance institution to a commercial institution. With theIndustrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003, IDBI attained the status of a limited company viz., IDBI Ltd.Subsequently, in September 2004, theReserve Bank of Indiaincorporated IDBI as a 'scheduled bank' under theRBI Act, 1934. Consequently, IDBI, formally entered the portals of banking business as IDBI Ltd. from 1 October 2004. The commercial banking arm, IDBI BANK, was merged into IDBI in 2005.

3. Acquisition of United Western BankIn 2006, IDBI Bank acquiredUnited Western Bank Satarain a rescue. By acquiring UWB, IDBI Bank more than doubled the number of its branches from 195 to 425.

Listing and ShareholdingIDBI Bank's equity shares are listed onBombay Stock Exchangeand theNational Stock Exchange of India.As on 31 March 2014, Government of India held 76.72% shares in IDBI Bank. Over 4 lakh public shareholders owned 8.75% of its shares. Insurance companies held approx. 12.32% of the shares while remaining 7.21% shares were held by others.

EmployeeAs on 31 March 2013, the bank had 15,465 employees, out of which 197 were employees withdisabilities. The average age of bank employees on the same date was 33 years.The bank reported business of INR 25.64 crores per employee and net profit of INR 12.17 lakhs per employee during the FY 2012-13.The company incurred INR 1,538 crores towardsemployee benefitexpenses during the same financial year.

Award IDBI Bank was ranked 1197 in theForbes Global 2000in May 2013. It received the 'Overall Best Bank' and 'Best Public Sector Bank' awards in the Dun & Bradstreet Banking Awards, 2011. In 2011, it received Banking Technology awards for best use of Business Intelligence and the best Risk Management from Indian Banks Association

Benefits provided by IDBI

PRODUCT PROFILE

WealthsuranceIDBI Federal Wealth Suvidha Growth Insurance Plan A systematic allocator to help you build wealth with ease. Option to choose how long you want to stay invested. Guaranteed loyalty additions to boost up your wealth Final protection against uncertainty. Partial withdrawal for emergency fund requirement.

PlanOverviewIDBI Federal Wealthsurance Suvidha Growth Insurance Plan(UIN: 135L033V01) is a simple unit linked plan that helps you take your first step towards wealth creation and that too, with ease. Whats more, the life cover with this plan provides financial protection to your loved ones.Eligibility CriteriaMinimum/ Maximum

Age at entryMinimum 1 month (subject to minimum maturity age)

Maximum 65 years (subject to maximum maturity age)

Maturity ageMinimum 18 years

Maximum 75 years

Policy termFixed options 10 years, 15 years and 20 years

Premium payment termFixed options 10 years and in multiples of 5 thereafter

PremiumMinimum Rs. 15,000 p.a.

Maximum Rs. 25,000 p.a.

Premium payment modeFixed Annual

Sum assuredFixed10 times the annual premium

All ages are as per last birthday

Why wealthsurance suvidha?

Systematic allocator to help you build wealth with easeYou have two options of managing funds in Wealthsurance Suvidha. You can either manage the funds yourself or opt for Systematic Allocator. If you opt for Systematic Allocator, you will enjoy a balance between growth and safety. In the early policy years, your investment will have a higher exposure to equity. This will help your investments have the potential to earn you higher returns. As the policy approaches maturity, your investment will be automatically rebalanced to reduce the exposure to equity. This ensures that your investment is protected from the ups and downs of the equity markets. For more details on Systematic Allocator, please refer to the product brochure. Option to choose how long you want to stay investedWith Wealthsurance Suvidha, you can choose the policy term (PT) which is the duration for which you want to stay invested. In addition, you can also choose how long you want to pay your premiums by choosing the premium payment term (PPT) most suited to your needs. Please refer to the product brochure for combinations of PT and PPT available. Guaranteed loyalty additions to boost your wealth*At the end of the 10th policy year and every 5 years thereafter, you get guaranteed loyalty additions to boost your wealth. Financial protection against uncertaintyIn case of an unfortunate death during the policy term, your nominee gets the death benefit which is the sum assured or the fund value at that time, whichever is higher. At any time during the policy term, the death benefit will be more than 105% of all premiums paid. Partial withdrawals for emergency fund requirementsIn case of a financial emergency, you can make partial withdrawals from your funds any time after the 5th policy year. For more information on partial withdrawals, please refer to the product brochure.

Two tax benefitsThe premiums you pay under Wealthsurance Suvidha are eligible for tax benefit under Sec 80C of the Income Tax Act, 1961. The maturity benefit and death benefit are also tax free under Sec 10(10D). Flexibility to switch funds and investment optionsYou can switch your investment option between Systematic Allocator and managing your funds by yourself. Also, if you are managing your funds yourself, you can also switch from one fund to the other. Option to surrenderWealthsurance Suvidha also provides the feature of surrendering the policy free of charge after the 5th policy year. A surrender amount equal to the fund value as on date will be paid out. Discontinuance charge will be applicable for policies surrendered within the first 5 years of the term. Exclusive funds for loved onesBy endorsing your Wealthsurance Suvidha policy under the Married Womens Property Act, 1874, you can create an exclusive fund for your loved ones which is legally protected from creditors and claimants.

Benefits of the Plan

Maturity BenefitAt maturity of the plan you will receive the fund value as on that date.

Death Benefit

In case the insured person dies before the maturity date while thepolicy is still in force, the company will pay higher of sum assured orfund value. In addition, at no time the death benefit would be lessthan 105% of the total premiums paid till the date of death.

GuaranteedLoyalty Additions

The IDBI Federal Wealthsurance Suvidha Growth Insurance Plangives an added impetus to your Investment Account throughguaranteed loyalty additions. Your investment account will beth credited with guaranteed loyalty additions at the end of 10 policyyear and every 5 years thereafter. Guaranteed loyalty additions willbe 3% of the average fund value in the last 36 months precedingthe guaranteed loyalty addition date. If you have invested inmultiple funds, we will add the guaranteed loyalty additions toeach fund in the same proportion as the fund value in each fund.

Investment Fund optionsYou can choose to invest your money in the following funds:Equity Growth Fund (SFIN: ULIF04111/01/08EQOPP135Investment objective &strategy Asset CategoryAllocation

Invests in listed stocks and aims to generate high returns by pickingstocks that have growth prospects. It aims to diversify risk by investingin large cap as well as mid cap stocks across multiple sectors. The fundwill usually have a high proportion of investments in equities andequity-linked instruments other than in market conditions thatwarrant diversification into money market Cash and money market

Equities and equity-linked instruments 0 50%

50 100%

Returns and RiskThe returns from the Equity Growth fund are likely to be highbut the risk is also high.

Income Fund (SFIN: ULIF04211/01/08INCOME135

Investment Objective and StrategyAsset CategoryAllocation

Aims to generate returns by investing in fixed income and money marketinvestments that carry low or medium market risk. Theduration of the underlying portfolio will be medium.The fund may use derivatives to meet its objective to the extentpermitted by the applicable guidelines Fixed income investments

Cash and money market 25 - 100%

0 75%

The returns from the Income fund are likely to be related to short-term interest rates and the risk is also low

How to change your investment optionsYour investment preferences may change over time. You can change the mix of your investment options in the following two ways:

Switching

At any time you may instruct the company in writing to switchsome or all of the units from one unit linked fund to another. Thecompany will give effect to this switch by cancelling units in theold fund and allocating units in the new fund.Note: Switches advised prior to 3:00 pm will be processed at unit price ofthe date of receipt of instructions, while switches advised after 3:00 pmwill be processed at the unit price of the day following the date of receipt ofinstruction. Currently there is no switching charge. The switching chargemay be introduced up to a maximum of `500 per request with the priorapproval of IRDA. Premium RedirectionAt any time you may instruct the company in writing to redirectall your future premiums in an alternative proportion to thevarious unit funds available. Redirection will not affect thepremiums paid prior to the request.Note: Minimum amount of premium redirection in any investment fundshould be at least 15% of the annual premium. This is not applicable if youhave opted for the Systematic Allocator.

Applicable NAVNew business premiums will be allocated units at the NAV as onthe date of commencement of the policy after completion ofthe proposal.Switches in investment fund(s) and renewal premiums receivedbefore the cut-off time at our designated office through localcheque or demand draft payable at par at the place the premiumis received will be allocated units at the same days NAV. Ifreceived after the cut-off time, the units will be allocated at thenext business days NAV.Renewal premiums paid through outstation cheques oroutstation demand drafts will be allocated units as per the NAV onthe business day of realisation of the cheques or demand drafts.In case you pay your renewal premiums in advance, the units willbe allocated as per the NAV prevailing on premium due date.In case of cancellation of units for charges and valid notificationand instructions received at our designated office for switches out,partial withdrawals, surrenders and death claims, we will apply thesame days NAV if the request is received before the cut-off time.Else, the request will be processed at the next business days NAV.The cut-off time will be as per the IRDA guidelines, which, atpresent is 3.00 pm.

Allocation of unitsThe company applies premiums less premium allocationcharges to allocate units in one or more of the unit linked fundsin the proportion that the policy owner specifies

Cancellation of unitsTo meet charges and to pay benefits, the company will cancelproportionate units equal in value to the amount of the paymentswhich are due. If the units are held in more than one unit linkedfund, then the company will cancel proportionate units in eachfund to meet the amount of the payment due. For partialwithdrawals, the company will cancel units in the unit linkedfunds as instructed by the policy owner. To meet charges, unitswill be cancelled from the various funds in the manner describedin the general terms and conditions.

Liquidity Benefits:- Partial withdrawalsYou can make partial withdrawals at any time during the policyterm subject to the total amount being withdrawn in any policyyear is not more than 20% of the fund value as at the beginningof that policy year. We will not allow partial withdrawals whichwould result in termination of the contract. The minimumamount of any partial withdrawal is `10,000. The fund valueafter the partial withdrawal should not be less than one annualregular premium.In a policy where life insured is minor, partial withdrawals will beallowed only after the insured person attains the age of 18. Unitsto the value of each withdrawal are cancelled from the unit linkedfunds according to the proportions that the policy ownerspecifies. Currently, there is no partial withdrawal charge. Thepartial withdrawal charge may be introduced up to a maximumof `500 per request with the prior approval of IRDA.Partial withdrawal will not reduce the minimum death benefit of105% of the total premiums paid till the date of death Reduction in death benefits following a partial withdraw In the event of the death of the insured person before age 60, wewill deduct the total of any partial withdrawals made in the two years preceding the date of death from the sum assured. On the 60 birthday of the insured person, we will reduce the sumassured by the total amount of all withdrawals made between the insured persons 58 and 60 birthdays. We will furtherreduce the sum assured by the amount of any withdrawals made,after attaining the age of 60.However the minimum death benefit paid will always be 105% ofall premiums paid till date of death

SurrenderYour policy will have a lock-in period of five years from the date of inception. If the policy is surrendered within the lock in period, a discontinuance charge will be applicable as given in the section on Discontinuance of Basic Premiums. We will credit the fund value less the discontinuance charge, to the discontinued policy fund and the insurance benefit will cease. At the end of the lock-in or revival period (whichever is later), we will terminate your policy and refund the proceeds of the discontinued policy. After completion of the five year lock in period you may surrender your policy at any time and there is no surrender charge and we will pay you the entire fund value as on the date of surrender.

Eligibility ConditionsEligibility CriteriaMinimum /Maximum

Age at entry

Maturity age

Policy term

Premium payment term

Premium

Premium payment mode

Sum assured

OBJECTIVES OF STUDY

FINDING & SUGESSTIONS1.