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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

A Report Titled
“A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS”
A Project
Submitted in partial fulfillment of the requirements for the award of the Degree of
MASTERS OF BUSINESS ADMINISTRATION
To Visvesvaraya Technological University, Belgaum
Submitted by
A
...
JOGISH D

Mr
...
D

CHANNEL DEVELOPMENT MANAGER

HOD, DEPT of MBA

HDFC LIFE

SVIT, BANGALORE
...


SAI VIDYA INSTITUTE OF TECHNOLOGY
RAJANUKUNTE, DODDABALLAPUR ROAD

BANGALORE-64
2012-13

Department of Management Studies, S V I T
Page 1

A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

DECLARATION

I , A
...
in Sai vidya Institute Of
Technology, do hereby declare that this project report entitled “A study on comparison of
child insurance plan of HDFC Life with its competitors”, has been submitted by me in
partial fulfillment of the requirement, for the award of the degree of MASTER OF
BUSINESS ADMINISTRATION by the Visvesvaraya Technology University, Belgaum,
Karnataka
...


Place:

A
...

I would like to express my heart-felt gratitude to thank Prof
...
R
...

It is indeed a great pleasure to express my sincere gratitude to Dr
...
D RAMACHANDRA,
principal, SVIT for the co-operation and help through the course
...
Jogish D Sai Vidya Institute of
Technology, for encouraging me and for their constant support throughout the course of the
project and helping me complete it
successfully
...
Karthik Kumar for providing me
an opportunity to work in this corporate exposure and for his support and guidance in this
endeavor
...
I finally thank my family and friends for their constant support and
guidance
...
SARAVANA

Date

(IVA11MBA01)

:

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

CONTENTS
PART-A
CHAPTER NO
...
1 Back Ground & Inception

5 - 6

2
...
3 Vision , Mission , Quality Policy

7 - 8

2
...
5 Area of Operation

10 - 11

2
...
7 Competitors Information

12 - 15

2
...
9 Achievements / Awards

16 - 21

2
...
11 Future Growth & Prospects

23

Chapter – 3

Mckinsey 7s Frame Model

24 - 30

Chapter – 4

SWOT Analysis

31 - 32

Chapter – 5

Analysis of Financial Statement

33 - 38

Chapter – 6

Learning Experience

39

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

CONTENTS
PART-B
CHAPTER NO
...
1 Title of the Study

51

7
...
3 Objective of the Problem

51

7
...
5 Research Methodology & Data Collection
7
...


Table Contents

Page
No
...
1

Table showing number of respondents who have taken
Children’s plan in selected Insurance Companies
...
2

Table showing the awareness about HDFC Children plan
...
3

Table showing the sources by which the respondents became
familiar of Child Insurance plan
...
4

Table showing the preference criteria in HDFC children plan
...
5

Table showing the Respondent satisfaction with HDFC Child
Insurance plan
...
6

Table showing the number of respondents of various insurance
companies who felt that their policies are better than HDFC
Child Insurance plan
...
7

Table showing the respondent’s opinion whether HDFC
Children’s plan has fulfilled their expectations
...
8

Table showing the satisfaction level of respondents with respect
to premium paying terms & benefits provided by the Insurance
Company
...
9

Table showing the respondents opinion whether the children’s
plan was purchased solely for Insurance coverage
...
10

Table showing the factors which influenced the respondents to
invest in Children plan
...
11

Table showing whether the children’s plan can be made more
beneficial
...
12

Table showing whether the respondents will recommend HDFC
Children plan to others
...


Graph Contents

Page
No
...
1

Graph showing number of respondents who have taken Children’s
plan in selected Insurance Companies
...
2

Graph showing the awareness about HDFC Children plan
...
3

Graph showing the sources by which the respondents became
familiar of Child Insurance plan
...
4

Graph showing the preference criteria in HDFC children plan
...
5

Graph showing the Respondent satisfaction with HDFC Child
Insurance plan
...
6

Graph showing the number of respondents of various insurance
companies who felt that their policies are better than HDFC Child
Insurance plan
...


65

Graph showing the satisfaction level of respondents with respect
to premium paying terms & benefits provided by the Insurance
Company
...


67

8
...


69

8
...


73

8
...


74

8
...
8

8
...


TITLE

Page
No
...
1

CHI-SQAURE Test by comparing the number of companies in
which respondent has taken Children plan (Goodness of fit)
...
5

CHI-SQAURE Test for goodness of fit by comparing
satisfactory level towards HDFC Child Insurance plan
...
10

CHI-SQAURE Test for Degree of freedom by comparing the
factors which influenced the respondents to invest in Children
plan
...

It is the largest insurer in the UK and is the 28th largest company in the world
...
From my research at HDFC Life, I found that the company has a lot of
competition from other private insurers like ICICI, Aviva, Birla Sun Life and Tata AIG
...
To compete effectively HDFC Life could
launch cheaper and more reasonable products with small premiums and short policy
terms (the number of year’s premiums to be paid)
...
5000 – Rs
...
HDFC
must advertise regularly and create brand value for its products and services
...
The Indian consumer has a false
perception about insurance – they feel that it would not benefit them if they do
not live through the policy term
...
T h i s m e s s a g e s h o u l d b e conveyed to
potential customers so that they readily invest in insurance
...
O p t i m u m
r e t u r n s o f 1 6 – 2 0 % m u s t b e p r o v i d e d t o consumers to keep them interested in
purchasing insurance
...

Every new recruit is provided with extensive training on unit linked funds, financial
instruments and the products of HDFC
...
H D F C w a s r a n k e d 1 3 i n t h e B e s t Places to
Work survey
...
In the global market it is already ve ry popular
...


Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

CHAPTER – 1
INDUSTRY PROFILE
The insurance sector in India has come a full circle from being an open competitive market to
nationalization and back to a liberalized market again
...

A brief history of the Insurance sector
The business of life insurance in India in its existing form started in India in the year
1818with the establishment of the Oriental Life Insurance Company in Calcutta
...

 1928: The Indian Insurance Companies Act enacted to enable the government to
collect statistical information about both life and non-life insurance businesses
...

 1956: 245 Indian and foreign insurers and provident societies taken over by the
central government and nationalized
...
LIC Act,
1956, with a capital contribution of Rs
...
The
General insurance business in India, on the other hand, can trace its roots to the Triton
Insurance Company Ltd
...

Insurance sector reforms
In 1993, Malhotra Committee headed by former Finance Secretary and RBI Governor
R
...
Malhotra was formed to evaluate the Indian insurance industry and recommend its
future direction
...

HDFC STANDARD LIFE
The reforms were aimed at “creating a more efficient and competitive financial system
suitable for the requirements of the economy keeping in mind the structural changes
currently underway and recognizing that insurance is an important part of the overall
financial system where it was necessary to address the need for similar reforms…”
In 1994, the committee submitted the report and some of the key recommendations included:
1) Structure
Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

 Government stake in the insurance Companies to be brought down to 50%
...

 All the insurance companies should be given greater freedom to operate
...
1bn should be allowed to
enter the industry
...

 Foreign companies may be allowed to enter the industry in collaboration with the
domestic companies
...

 Only one State Level Life Insurance Company should be allowed to operate in each
state
...

 An Insurance Regulatory body should be set up
...


4) Investments
 Mandatory Investments of LIC Life Fund in government securities to be reduced
from75% to 50%
...

5) Customer Service
 LIC should pay interest on delays in payments beyond 30 days
...


HDFC STANDARD LIFE
 Computerization of operations and updating of technology to be carried out in the
Insurance industry
...
But at the same time, the committee felt the need to exercise caution as any
failure on the part of new players could ruin the public confidence in the industry
...
100 crore
...
For this purpose, it had proposed setting
up an independent regulatory body
...
The IRDA since its incorporation as a statutory body in
April2000 has fastidiously stuck to its schedule of framing regulations and registering
the private sector insurance companies
...
The approval of institutions for imparting training to agents has also ensured that the
insurance companies would have a trained workforce of insurance agents in place to sell
their products, which are expected to be introduced by early next year
...
In the private sector 12 life insurance and 6 general insurance companies have
been registered
...
1 BACKGROUND AND INCEPTION OF THE COMPANY:
HDFC Standard Life Insurance Company Limited is one of
India’s leading private
insurance companies, which offers a range of individual and group insurance solutions
...
As on February 28, 2009 HDFC Ltd holds 72
...
00% of equity in the joint venture, while the rest is held by
others
...
3
million families own a home, since its inception in 1977 across 2400 cities and towns
through its network of over 250 offices
...
As of December 2008, the total asset size has
crossed more than Rs
...

82,800 crores
...
17,551 crore, earning the trust of
more than 9, 00,000 depositors
...
HDFC has set benchmarks for the Indian housing financial industry
...
HDFC has undertaken a lot of consultancies abroad
assisting different countries including Egypt, Maldives, and Bangladesh in the setting up of
housing financial companies
...
It currently has a customer base of around 7 million people who rely on the
company for their insurance, pension, investment, banking and health-care needs
...
It is a leading pensions
provider in the UK, and is rated by Standard & Poor’s as ‘strong’ with a rating of A+ and
as ‘good’ with a rating of A1 by Moody’s
...
The ‘5 Star’ accolade has also been awarded to Standard Life Investments for the
last 10 years, and to Standard Life Bank since its inception in1998
...


 2
...

While it
becomes somewhat impossible for a man to bear by himself 100 percentage losses to his
own property or interest arising out of an unforeseen contingency, insurance is a
method or process which distributes the burden of the loss on a number of
persons
within the group formed for this particular purpose
...
Insurance, whether life or non-life, provides people with a reasonable
degree of security and assurance that they will be protected in the event of a calamity or
failure of any sort
...
Under the plan of insurance, a large number of people
associate themselves by sharing risks attached to individuals
...
Any risk
contingent upon these, may be insured against at a premium commensurate with the risk
involved
...
HDFC STANDARD LIFE is into a
business of insurance
...
It sell various
insurance policy based on the needs of consumer
...


 2
...

Mission
“To provide a package of attractive financial services for housing purposes through a
competent and motivated team of employees using the state of the art technology to maintain
Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

financial stability and growth of the organization while contributing to the national goal of
providing decent housing to all”
...

Innovation
...

People care “one for all and all for one”
...

Joy and simplicity
...


BE award (external)/
service guarantee
...


Phase-4

Value stream map
projects
...


6 – 8 months and
improve
...


Process complaint
functions
...


Phase-2

Organized work
places
...


6 – 10 months and
sustenance
...


Completion of
projects and benefits
derived and
sustenance
...


Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

 2
...

HDFC Premium guarantee plan
...

HDFC home loan protection plan
...

 HDFC surgi care plan
...

 HDFC SL children plan double benefit
...

Savings and Investment plans













HDFC SL crests
...

HDFC SL pro-growth maxi miser
...

HDFC SL new money back plan
...

HDFC assurance plan
...

HDFC SL pro-growth flexi
...

HDFC SL classic assurance insurance plan
...


Retirement plans
 HDFC immediate annuity
...

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

 HDFC SL sarvgrameenbachat yojana
...

 2
...
The company
aims to provide consistent and high quality service across the country through, all channels
of delivery- branches, call centers, internet and the customer portal
...
The company has implemented a Quality Initiative across its offices which
regularly measures the effectiveness of its processes, reduces leakage and contributes to
increasing revenues, managing costs and improving service quality
...
The company has continued to strengthen its presence in the virtual world, both
for creating awareness and facilitating self service Your Company continues to explore
strategic outsourcing partnerships with a focus on handling volumes and reaping economies
of scale
...

HDFC Standard Life continues to have one of the widest reaches among insurance
companies
...

Through these offices, the company today services customer
need in over 730 cities and towns
...
6 OWNERSHIP PATTERN:
It is a joint venture between HOUSING DEVELOPMENT FINANCE CORPORATION
LIMITED (HDFC), India’s leading housing finance institution and STANDARD LIFE
PLC, the leading provider of financial services in the United Kingdom
...
Holds 72
...
Holds 26
percentage of equity in joint venture, while the rest is held by others
...
Reach of the JV player is
highly rated and been conferred with many awards
...


 2
...
LIC has 5
...
Also it transacts business in abroad and LIC is
associated with Ken-India Assurance Company Limited, Nairobi; United Oriental Assurance
Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

Company Limited, Kuala Lumpur; and Life Insurance Corporation (International), E
...

Bahrain
...
K
...
LIC’s claims settlement ratio at 95 percent and
GIC’s at 74 percent are higher than of global average of 40 percent
...
22 percent per annum
...

Along with its 5 Associate Banks, State Bank Group has the unrivalled strength of over 18,
000 branches across the country, arguably the largest in the world
...
BNP Paribas Group, having presence in more than 80
countries ranks highly in Retail Banking, Investment Solutions and Corporate & Investment
Banking
...

SBI Life extensively leverages the State Bank Group relationship as a platform for crossselling insurance products along with its numerous banking product packages such as
housing loans and personal loans
...
Ltd:
Max New York Life Insurance Company Limited is a joint venture that brings together two
large forces - Max India Limited, a multi-business corporate, together with New
York Life International, a global expert in life insurance
...

They have a
national presence with a network of 57 offices in 37 cities across India
...
The company is a joint venture between ING Insurance International
B
...
and Exide Industries
...

The company distributes its products through two channels,
the Tied Agency and the
Alternate Channel
...

The Alternate Channel business within ING Life India is a fast
growing distribution channel, and includes the Banc assurance partner (ING Vysya
Bank),
Referral Partners, Corporate Agents and Brokers
...

ICICI Prudential was amongst the
first private sector insurance companies to begin operations in December 2000 after
receiving approval from Insurance Regulatory Development Authority (IRDA)
...

Reliance Life Insurance:
Reliance Life Insurance is a Reliance Capital Company and is part of Reliance Group
...

Reliance Capital has interests in asset management and mutual funds, stock
broking,
life and general insurance, proprietary investments, private equity and other
activities in financial services
...


between

Allianz SE,

one of the largest

Allianz SE is a leading conglomerate globally and one of the largest asset managers in the
world, managing assets worth over a Trillion (Over INR
...
Allianz SE has
over 119 years of financial experience and is present in over 70 countries around the world
...
Our business
Philosophy is to ensure excellent insurance and investment solutions
by offering
customized products, supported by the best technology
...
8 INFRASTRUCTURAL FACILITIES:
HDFC SL is providing good infrastructural facilities which
are
required
for
employees to perform their work in a better way
...
The company stepped up the recruitment program in
the latter part of the year in preparation for the next year
...


 2
...
Organized by Banking Frontiers, Finnoviti 2012 Awards was held on
November 8, 2012 at ITC Grand Maratha, Mumbai
...
The best in league
winners have been selected by an eminent Jury on the basis of a detailed methodology,
process validation and research conducted by ICRA
...




Celent Model Insurer Global Award:

HDFC Life has been selected, among the 23 Insurance Companies Worldwide, as a Model
Insurer 2012, for the use of Enterprise Wide Learning via the Internet by Celent USA
...



5th Loyalty Awards 2012 - Insurance Sector (Life):

These awards recognize Customer loyalty efforts of Companies across various sectors
...


Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS



Century International Quality ERA Award:

Criteria on which the Century International Quality ERA is based: 1
...
Quality and Excellence, 3
...
Technology, Innovation and Expansion
...
The Stars of the Industry
Awards recognizes individual and corporate excellence across the banking and financial
services sector
...
The Awards were given away in 17 categories
...




Amaron Quanta - Express Uptime Champion Awards 2011:

These awards recognize reliability of IT infrastructure with solutions that guarantee optimal
infrastructure uptime 24*7
...




Power Brands Hall of Fame Most Dynamic Marketing Professional of the Year:

Power Brands Hall Of Fame is a ceremony that seeks to honour the leaders in the marketing
& communications fraternity who have carved a niche for themselves with their remarkable
strategies that have channelized growth and have been instrumental in taking their companies
ahead
...



Master Brand Award:

Master Brand Award is conferred upon those brands which appeal to a large set of consumers
from premium to masses while constantly keeping in mind a consumer centric approach
...



India's Most Trusted Service Brand 2011:

Ranked India's Most Trusted Private Life Insurance Brand in 2011 in a survey conducted by
Economic Times-Brand Equity and the Nielsen Company
...
’ This award acknowledges HDFC Life’s efforts towards
innovative people management processes and talent engagement and development initiatives
in the highly dynamic Indian life insurance industry
...

2) HDFC Life awarded Consumer Super brands Award
...

4) EDGE Award 2011
...

6) Outlook Money Award 2011
...

8) 2011 CIO 100 Award
...

10) Yuva Hero Award
...

12) Indian Insurance Awards 2011
...

14) Business Super brand India 2010-11
...

16) Best Companies to Work for in India in 2010
...


Department of Management Studies, S V I T
Page 30

A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

 2
...
11 FUTURE GROWTH AND PROSPECTS:
HDFC Standard Life Insurance has increased its capital by Rs
...
This was
necessitated on account of the strong growth shown by the company in the current financial
year in its life insurance and pension business
...
K
...
218 crores
...
168 crores on day one, well above the minimum requirement
of Rs
...
In order to fund the future growth in its business, the paid-up capital is now being
increased by Rs
...
The company had seen a substantial increase in business over
the two years and had declared two bonuses
...


Department of Management Studies, S V I T
Page 32

A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

CHAPTER – 3
MCKINSEY 7S FRAME WORK

The Mckinsey 7s framework developed in the early 1980s by Tom Peters and Robert
Waterman, two consultants working at the Mckinsey and company consulting firm, the basic
premise of the model is that there are seven internal aspects of an organization that need to be
aligned if it is to be successful
...

It helps to:





Improve the Quality of the company
...

Align departments and process during a merger or acquisition
...


The Mckinsey 7s model involves seven interdependent factors
either “hard” or “soft” elements
...

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

“Soft” elements, on the other hand, can be more difficult to describe, and are less tangible
and more influenced by culture
...

 Strategies:
The strategy refers to a plan of action designed to achieve a particulars goal
...


It helps to

Strategies: Strategies employed to achieve the target are as follows:




Tele calling
...

Collect references
...

Marketing knowledge
...

Customer knowledge
...


their

combinations
...
Channel
Development Manager

Channel Development
Manager

Recruitment Consultant

Financial
Consultant

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

 Systems:
A system refers to a set of elements and relationships which are different from relationships
of the set or its elements to other elements or sets
...
The HDFC Life has various techniques to control
the procedures as system like to improve the back office targets by giving addition support
...
The
information is versatile
...

Recruitment, training and development system:
Recruitment process starts with the identification of the vacancies by the department head
of the respective department
...
Then the recruitment and selection processes
are carried out by the organization
...

The shared values called “super ordinate goals” when the
model was first developed, these are the core values of the company that are evidenced in the
corporate culture and general work ethic
...

Innovation
...

People Care
...

Joy & Simplicity
...

 Careers as a certified financial consultant
...

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

 Support every step of the way
...

 Staff:
A group of persons, as employees, charged with carrying out the work of an establishment or
executing some undertaking
...

Staff means that the organization has able people trained them well and assigned them to the
right jobs, staffs are human resources working in the organization
...

HDFC Life has well-trained develop and skilled staff who Worked very hard and success of
the company
...

 Well experienced accounts, audit, risk management, actuaries, business research
and planning
...

 Customer services
...

 Sales in retail, alternative the channels, sales direct
...


Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

CHAPTER – 4
SWOT ANALYSIS

 Strengths
 Have good marketing strategy
...

 Strong promoters
...

 Good reputation from public
...

 Attractive plans
...

 The company provides customer service of the highest order
...

 Large pool of technically skilled manpower with in depth knowledge
...

 The company also provides innovative products to cater the different needs of
different customers
...

Low customer confidence on the private players
...

Poor retention percentage of tied up agents
...

 Creating employment opportunities
...

 Protecting customer’s money than the bankers
...


 Threats
 Competition from other major players in market
...

 Premium amount is high
...

 Threats from the existing competitors and the new entrance
...
in Crores
31-March-11

SHAREHOLDERS' FUNDS
Share Capital
Reserves and Surplus

297
...
83
20,465
...
99
17,776
...
07

78,992
...
16
1,978
...
32

69,418
...
80
2,038
...
57

NON-CURRENT LIABILITIES
Long Term Borrowings
Other Long Term Liabilities
Long Term Provisions
CURRENT LIABILITIES
Short Term Borrowings
Trade Payables
Other Current Liabilities - Borrowings
Other Current Liabilities - Others
Short Term Provisions

ASSETS
NON-CURRENT ASSETS
Fixed Assets
(i)Tangible Assets

20,992
...
60
43,825
...
50
2,788
...
90
174,675
...
25
370
...
50
3,108
...
79
59,234
...
46

233
...
71

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

(ii) Intangible Assets
NON-CURRENT INVESTMENTS
DEFERRED TAX ASSET (Net)
LONG TERM LOANS AND ADVANCES
Loans
Others
OTHER NON CURRENT ASSETS
CURRENT ASSETS
Current Investments
Trade Receivable
Cash and Cash equivalents
Short term Loans and Advances
-Loans
-Others
Other Current Assets

* Excludes loans securitized - on which spread
is earned over the life of the loan
Loans sold during the last 12 months
1 Crore = 10 Million

1
...
98
12,096
...
23

2
...
92
11,461
...
12

131,805
...
83
135,159
...
37

108,027
...
51
110,090
...
18

3,086
...
17
2,796
...
35
4
...
30

16,456
...
51
827
...
30
174,675
...
83
489
...
70
26,309
...
46
30-Jun-11

13,872
4,978

PROFIT AND LOSS ACCOUNT AS AT MARCH 31, 2012

11,803
3,123

Rs
...
67
2,514
...
75

20
...
36

16
...
67

27
...
71
3,388
...
50

20
...
87

52
...
58
50
...
79
40
...
00
1,379
...
00
1,001
...
12
deposit
HIGHLIGHTS- MARCH 31, 2012

14
...
20
4
...
00
131
...
53
331
...
53

Rs
...
27%

2
...
0%

4
...
77

5
...
68

5
...
6%

13
...
8%

12
...
8%

1
...
79%

0
...
49%

0
...
23

978
...
75

194
...
98

1172
...
93

130
...
in crores
2011-12

4,401
...
23

3,329
...
32

45
...
92

159
...
22

Fees and Other Charges

61
...
32

Other Operating Income

0
...
71

1
...
67

Loans

885
...
09

Deposits

935
...
98

1,546
...
25

3,367
...
32

Surplus from Deployment in Cash Management
Schemes of Mutual Funds
Dividend Income

INTEREST AND OTHER CHARGES
INTEREST

Bonds and Debentures

OTHER CHARGES

21
...
60

3,388
...
92

8,183
...
12

859
...
82

70
...
15

Preference Shares

5
...
99

Convertible Debentures

2
...
00

351
...
62

78
...
45

157
...
18

Government Securities

1,894
...
50

Liquid Funds

2,880
...
00

INVESTMENTS
Equity Shares - Subsidiaries & Associate
Companies
Equity Shares - Other Companies
Convertible Preference Shares

Debentures and Bonds
Pass Through Certificates and Security Receipts
Properties

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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

776
...
26

Mutual Funds and Other Funds
15,260
...
09

1 Crore = 10 Million

74
...
48
Unrealized gains on listed investments
including HDFC
Investments Ltd
...
61

17,328
...
63

23,206
...
40

41,427
...
75

51,590
...
40

30,500
...
55

123,518
...
92

77,885
...
73

44,823
...
67

1,458
...
32

124,167
...
07
752
...
74

As % of Total
Increase
90%
10%
100%

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

Earnings per share (EPS)
Years

EPS

2011-2012

5
...
77

Return on assets (ROA)
Years

ROA

2011-2012

0
...
85

Year

Current Ratio

2011-2012

0
...
35

Current Ratio

Debt Equity Ratio
Year

Debt Equity Ratio

2011-2012

3
...
96

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

Interest Coverage Ratio
Year

Interest Coverage Ratio

2011-2012

0
...
41

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

CHAPTER – 6
LEARNING EXPERINCE
My research project at HDFC Life Insurance Company has been an extremely enriching
one
...
Through I got some information in the
office and in the field experience
...
This experience is
really a big bonus for me
...
The Learning I
gained during my project is mentioned below:
 I learned many things about the life insurance in accordance with IRDA Syllabus and
also present market trends
...

 I came to know about the various technicalities about the
Indian insurance industry
...

Through this research I enriched my knowledge on various
competitive
strategies
adopted by different companies to survive in a highly competitive market
...

I have learnt a lot of things about the management functions such as planning, organizing,
etc
...
I got to know about insurance sectors and the benefits of insurance to
the common people in the society and reduce their risk in unexpected situations in day to
day actions
...

They do not
know that there is lot more products like pension plans, children’s plans, etc
...


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GENERAL INTRODUCTION
Meaning of Insurance & Life Insurance:
Insurance is a contract between the insurance company and the policyholder
...

Life Insurance is insurance on human beings
...

Payment of money is assured on the happening of any specified contingencies dependent on
human life, like death at a specified age
...

Life insurance companies cover risks that relate to human lives
...
Under traditional plans, like term insurance plans, insurance companies
provide death cover
...

India has large population and wide market area, so insurance has a very big opportunity in
India
...
Together
with banking services, it adds about 7 percent to the country’s GDP
...
Nearly 80% of Indian populations are
without life insurance cover and the Health insurance
...

Till date insurance agents still remain the main source through which insurance products are
sold
...
LIC has already well established
and have large distribution channel
...
Therefore they are looking
to diverse area of distribution channel to have an advantage
...
Since each one of us are facing numerous of risks during
our life such as health related problem, financial losses, accident etc
...
These
includes the:






Income needs of the family
Children’s education
Children’s marriage
Protection after retirement and
Tax benefits

Different types of products sold by Life Insurance product are:








Term plans
Endowment insurance plans
Money-back plans
Whole life insurance plans
Children’s plan
Pension and savings plans and
Unit-linked insurance plans



Term assurance is life insurance which provides coverage at a fixed rate of payments for
a limited period of time
...
If the insured dies during
the term, the death benefit will be paid to the beneficiary
...

An endowment policy is designed primarily to provide a living benefit and only
secondarily to provide life insurance protection
...
Endowment life insurance pays the face value of the policy
either at the insured's death or at a certain age or after a number of years of premium
payment
...
In Insurance language it is called Anticipated Endowment Plans and commonly
known as Money Back Policies
...

However, if the Life Insured dies during the policy term, then the Death Benefit would be
paid to the nominee and the policy would be terminated and no further money would be
paid to him on the intervals
...
The Maturity
Benefit comes in installments instead of a lump sum at the end
...
Each installment is a percentage of the sum assured
...

(Sum assured means the amount that the assurer agrees to pay on the occurrence of an
event)
Whole Life insurance policy:
 It normally covers an individual until his or her death, unless it lapses due to nonpayment of premium or is cancelled
...

Children’s plan
This type of insurance plan is designed considering the future needs of your children like
education, marriage, study tours, etc
...
These plans have provision for premium
payment of the policy till maturity even in untimely demise of parents, thus covering risk
of financial instability in their absence
...
Child plans help you fulfill
your child's dreams and aspirations by financing the key milestones in their lives even if
you are no longer around to oversee them
...
A time of
maturity a guaranteed lump sum is given to the beneficiary or in case of your
unfortunate demise
...

b) Children Plan Double Benefit: A unit linked child insurance plan provides a
valuable protection to your child in case you are not there to support them
...

c) Young Star Super Premium: An education plan that offers Triple Insurance Benefit
that helps you secure your child's immediate and future needs
...

Pension plan is a plan for setting aside money to be spent after retirement
...

It allows protection and flexibility in investment, which are not present in other types of

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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

life insurance such as whole life policies
...

ULIP was introduced in the 1960’s and is famous in many countries around the world
...


Why take a children’s plan?
Children’s plans help you save so that you can fulfill your child’s future dreams and
aspirations
...
Children’s plans are specifically designed such that you will be able to
provide the required economic support to your child when it is most needed
...
It is imperative that the
plan be taken by the earning parent/parents so that the financial security is provided to the
child
...

Which plan to choose?
You should choose a plan that satisfies your need
...
Although charges are important criteria to choose between unit linked
plans, the features and flexibilities offered by the plans are also equally significant while
choosing a children’s plan
...


Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

Choosing the Best Insurance Plan for Your Child
Parenting brings immense pleasure and joy to us
...
The best way to avoid such scares is to plan
for things which are predictable and then deal with situations for which we are not prepared
...

Broadly speaking, the needs can be classified as medical, educational and marriage
...
These can be
met either by way of investing in mutual funds or bank deposits in your name and making the
child the nominee or directly investing in the child’s name which will yield you such sums
that you need at the particular time
...
Inflation – You require the funds at a later date and therefore must keep in mind the
inflation at the time you require the money
...
The exact time when you need the returns
...
There are a
few plans, features of which are discussed below
...
The child investment plans help you
to build a corpus that may come in handy for your children’s needs
...
You have to analyze the features in detail and
choose the policy with care
...
This ensures that the maturity amount reaches the child as intended
...
This flexibility to switch investments
from one fund to another allows you to capitalize on the market conditions
...

Child insurance plans are available in two flavours: traditional and unit-linked (ULIPs)
...
Unit linked plans (ULIPs) are market linked and therefore come with
an inherent risk
...

Children plans have an added advantage over other plans as they give the payouts to children
even if the policyholder is not around
...

Many of the top insurance and banking companies offer child plans
...
Readers are wisely advised to check the policy details and invest in the one
that suits their needs
...

HDFC Children’s Plan: This is a conventional plan which is available with profits and is
designed to secure your child’s future by giving your child a guaranteed lump sum on
maturity or in case of your unfortunate demise
...
It also provides you with flexibility vis-à-vis targeted savings and
policy term
...

The advantages of these plans are:


Change your investment fund choices in two ways:
Switching: This allows you to move your accumulated funds anytime
...




Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961

Young Star Super Premium
With Young Star Super Premium you can fulfill your child's future needs immediate - all on
your own
...
This ULIP plan offers you choice of cover
options and benefit payment preferences- all designed to suit your needs
...

In case of your unfortunate demise or critical illness, we will pay the Sum Assured to
your child (Beneficiary)
...
With Save -nGain benefit, we will pay 50% of all the original regular premiums towards your policy
and 50% of the premiums will be paid to the Beneficiary as and when due, on an annual
basis
...

You can customize the ideal plan for your child by choosing the premium you wish to
invest along with the Sum Assured, depending on the level of protection required and
Benefit payment preference
...
With
Children Plan Double Benefit you can fulfill your child's future needs immediate
...
This
is a ULIP which aims to help you achieve long term savings
...
The policy
will terminate
...

You can customize the ideal plan for your child by choosing the premium you wish to
invest along with the Sum Assured, depending on the level of protection required
...
With our HDFC Children's Plan, you can start building your savings today
and ensure a bright future for your child
...

Features

Choose Savings

Choice of 3

Target

Maturity Benefit

Plan Options

Features

Term Limits

Age Limits

Bonuses

Advantages







Lets you customize an ideal plan for your child and provide invaluable financial
support
The Double Benefit Plan Option helps you secure your child's immediate and future
needs
...
Your family need not pay any further premiums and the policy
continues
...
You also have a range of convenient auto premium
payment options
Tax benefits are offered under section 80C and 10(10D) of the Income Tax Act, 1961

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

CHAPTER – 7
RESEARCH DESIGN
Research design is an art of scientific investigation which means it consist of Systematic
design, Collection, Analysis & Reporting the findings and solution to the problem
...
1 TITLE OF THE STUDY:
“A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE
WITH ITS COMPETITORS”
7
...
Usually an investor only compares
the premiums but there are so many other factors to be considered
...
Hence the problem
would be identified due to lack of information regarding the parameters to be used for
comparison
...
3 OBJECTIVES OF THE STUDY:
 To study about the Child Insurance plan opted by the respondents
...

 To study about the comparison of HDFC Child Insurance plan with any other
companies
...

7
...
The study which focuses on
various aspects such as company position in the market, strengths and weaknesses of the
Child insurance covers, customer’s perception, and customer awareness towards the
product etc also holds good for other companies in the life and non-life insurance

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

segment and helps the company to make necessary changes in the product based on
customer requirement
...
5 RESEARCH METHODOLOGY & DATA COLLECTION:
A Research is a careful investigation specially to gain knowledge in a particular field
...

According to Redman and Mory research is a systemized effort to gain new knowledge
...

In this study the source of data collection is classified on the basis of nature of the data in two
groups:



Primary data
Secondary data

Primary data:
The primary data are those which are collected for the first time and thus happened to be
original in character
...
A questionnaire consists of a number of questions printed or typed in a definite order on
a form
...


Secondary data:
The secondary data are those which are already been collected by someone else and which
have already been passed through the statistical process
...

METHODS / TOOLS OF ANALYSIS
Tools used for analysis are:
 Chi-square test
CHI-SQUARE TEST:

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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

There may be situation in which it is not possible to make any rigid assumption about
distribution of the population from which samples being drawn
...
Chi-square
describes the magnitude of the discrepancy between theory and observation
...

Sampling size: - 100
...
6 LIMITATIONS OF THE STUDY:






Only few respondents could be contacted because of the time constraint
...

Some of the respondents were unwilling to give their responses
...

Only few companies have been selected for this study
...
1: Table showing number of Respondents who have taken Children’s plan in
selected Insurance Companies
...
NO
Companies
No
...
1: Chart showing number of Respondents who have taken Children’s plan
in selected Insurance Companies
...

Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

APPLYING CHI-SQAURE TEST BY COMPARING THE NUMBER OF
COMPANIES IN WHICH RESPONDENT HAS TAKEN CHILDREN PLAN
(GOODNESS OF FIT)

COMPANIES

SBI

ICICI

HDFC LIFE

LIC

Birla Sun Life Others

0

1

2

3

4

5

10

13

23

29

15

10

x
Frequency(F)

Null Hypothesis (Ho): There is no significant difference between Observed and Expected
values in the number of respondents where LIC and HDFC Life have large number insured
compared to other insurers
...


Table of expected frequency:
Frequency (F) =
N

100 = 16
...
6
- 3
...
4
12
...
6
- 6
...
6
16
...
6
16
...
6
16
...
56
12
...
96
153
...
56
43
...
62
0
...
47
9
...
15
2
...
9

χ²cal = 17
...
05 with (n-1) = (6-1) = 5
χ²0
...
f = 11
...
05 , 17
...
070
Hence, we reject Ho and Accept H1
At the 5%Level of Significance the table value is 11
...
e
...
9 > 11
...

Conclusion:
We conclude that there is significant difference between Observed and Expected values in
the number of respondents where LIC and HDFC Life have large number insured compared
to other insurers
...
2: Table showing the awareness about HDFC Children Plan
...
NO
1
2

Awareness Level
Yes
No
Total

No
...
2: Chart showing the awareness about HDFC Children Plan
...


Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

Table no 8
...

S
...
of Respondents
25
35
15
25
0
100

Percentage
25
35
15
25
0
100

Figure no 8
...

40
35
35
30
25
25

25

20
15
15
10
5
0
0
News paper

Television

Agents

Friends

Others

Interpretation:
From the survey it was observed that 25% of the respondents have indicated News paper,
35% of the respondents have indicated Television, 15% of the respondents have indicated
Agents, 25% of the respondents have indicated Friends and 0% of the respondents have
indicated others by which they came to know about Child Insurance Plan
...
4: Table showing the preference criteria in HDFC children plan
...
NO
1
2

Children’s Plan
Young Star
Children plan Double Benefit
Total

No
...
4: Chart showing the preference criteria in HDFC children plan
...


Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

Table no 8
...

S
...
of Respondents Percentage
1
Highly satisfied
21
26
2
Satisfied
45
56
3
Neutral
10
13
4
Not satisfied
4
5
5
Highly not satisfied
0
0
Total
80
100
Source: - Primary data
Figure no 8
...

50
45
45

40
35
30
25
20

21

15
10
10

5

4

0

Not satisfied

Highly not
satisfied

0
Highly satisfied

Satisfied

Neutral

Interpretation:
From the survey it was observed that 21(26%) respondents are highly satisfied, 45(56%) of
the respondents are satisfied, 10(13%) of the respondents are neutral, 4(5%) of the
respondents are not satisfied and 0% of the respondents are highly not satisfied with this
child insurance plan
...

Alternate Hypothesis (H1): There is significant difference between the two HDFC Children
plan and satisfactory level towards HDFC Children Plans
...
1
12
...
5
26
...
7
5
...
6
2
...
1

16
...
847

20

18
...
25

0
...
7

1
...
456

3

1
...
96

1
...
9

16
...
303

25

26
...
96

0
...
3

1
...
318

1

2
...
96

0
...
16

χ²cal = 6
...
05 with (n-1) (n-1) = (5-1) (2-1) = 4
χ²0
...
f = 9
...
05 , 6
...
488
Hence, we accept Ho
At the 5%Level of Significance the table value is 9
...
e
...
16 < 9
...


Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

Conclusion:
We conclude that there is no significant difference between the two HDFC Children plan and
satisfactory level towards HDFC Children Plans
...
6: Table showing the number of respondents of various insurance companies
who felt that their policies are better than HDFC Child Insurance Plan
...
NO
1
2
3
4
5

Companies
LIC India
Birla Sun Life
ICICI Prudential Life
SBI Life
Others
Total

No
...
6: Chart showing percentage of respondent of various insurance companies
who felt that their policies are better than HDFC Child Insurance Plan
...


Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

Table no 8
...

S
...
of Respondents
18
5
23

Percentage
78
22
100

Source: - Primary data
Figure no 8
...


22%

Yes
No

78%

Interpretation:
From the survey it was observed that 18(78%) of the respondents said this plan fulfill their
Children dreams and 5(22%) of the respondents said this plan not fulfill their Children
dreams
...
8: Table showing the satisfaction level of respondents with respect to
premium paying terms & benefits provided by the Insurance Company
...
NO
1
2
3
4
5

Satisfaction Level
Highly satisfied
Satisfied
Neutral
Not satisfied
Highly not satisfied
Total
Source: - Primary data

No
...
8: Chart showing the satisfactory level of respondents with respect to
premium paying terms & benefits provided by the Insurance Company
...


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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

Table no 8
...

S
...
of Respondents
37
44
19
0
0
100

Percentage
37
44
19
0
0
100

Source: - Primary data
Figure no 8
...

50
44

45
40

37

35
30
25
19

20
15
10
5

0

0

Disagree

Strongly
Disagree

0
Strongly Agree

Agree

Neutral

Interpretation:
From the survey it was observed that 37% respondents are Strongly Agree, 44% of the
respondents are Agree, 19% of the respondents are Neutral, 0% of the respondents for both
Disagree & Strongly Disagree for choosing Children plan because of Insurance coverage
...
10: Table showing the factors which influenced the respondents to invest in
Children plan
...
NO

Investing in Children plan

1
2
3
4

For Safety
For Education
For Tax Saving
Others
Total
Source: - Primary data

No
...
10: Chart showing the factors which influenced the respondents to invest in
Children plan
...
That is weather the following information important
while investing in Children plan
...

Alternate Hypothesis (H1): There is a significant difference between Observed and Expected
values by comparing the factors in which Tax saving purpose for Safety, Education & Others
influenced by the respondents to invest in children plan
...
28

E (26) = 32*71
100

= 22
...
72

E ( 6 ) = 32*29
100

= 9
...
1875

26

23

3

9

0
...
45

6

9

-3

9

1

Total

2
...
0288
χ²0
...
05 with 1 d
...
841
χ²0
...
f = 6
...
05 , 2
...
841
χ²cal <χ²0
...
0288 < 6
...
841
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

At the 1%Level of Significance the table value is 6
...
e
...
0288 < 3
...
635; hence Null
Hypothesis (Ho) is accepted at 5% & 1% level of significance
...

That is for 5% & 1% level of significance the observed value is less than expected value so
Ho is accepted
...
11: Table showing whether the children’s plan can be made more beneficial
...
NO Require some more benefit
1
Yes
2
No
Total
Source: - Primary data

No
...
11: Chart showing whether the children’s plan can be made more
beneficial
...


Department of Management Studies, S V I T
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A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

Table no 8
...

S
...
of Respondents

Percentage

1

Yes

18

78

2

No

5

22

Total

23

100

Source: - Primary data
Figure no 8
...


22%

Yes
No

78%

Interpretation:
From the survey it was observed that 18(78%) of the respondents said they will recommend
this product to others and 5(22%) of the respondents said they will not recommend this
product to others
...
e
...
e
...

 Majority of respondents (i
...
, 80%) of them are aware about HDFC Child Insurance Plan
and remaining (20%) of them are not aware about HDFC Child Insurance Plan
...
e
...

 It is found that (41%) of the respondents were prefer Young Star in HDFC Children’s
plan, and the rest (59%) of the respondents were prefer Children Plan Double Benefit in
HDFC Children’s Plan
...
e
...
e
...

 It is found that there is a higher percentage (i
...
38%) of the respondents were felt that
LIC India policies are better than HDFC Child Insurance Plan and comparatively very
lower percentage (i
...
13%) of the respondents were felt that SBI Life & others policies
are better than HDFC Child Insurance Plan
...
e
...

 It is found that there is a higher percentage (i
...
38%) of the respondents are Satisfied
about premium paying terms & benefits provided by the Insurance Company and
comparatively very lower percentage (i
...
0%) of them are Highly not satisfied about
premium paying terms & benefits provided by the Insurance Company
...

 It is found that (45%) of the respondents have said that Tax Saving is important while
Investing in Children plan, (26%) of the respondents have said For Education, (23%) of
the respondents have said For Safety, and the rest(6%) of them have said for Others
...

 Majority of respondents (i
...
, 78%) have stated that they will recommend HDFC Children
plan to others and the rest (22%) of them stated that they will not recommend HDFC
Children plan to others
...
Hence
try to build same relationship with respondents and also work on remaining 20% of
respondents who are not aware of HDFC children plan as soon as possible
...

 Majority of the respondents have said that other company policies are better than HDFC
Child Insurance Plan so try to match the competitor’s by offering better policies at
reasonable rates to the respondents
...

 Out of 23 respondents 5(22%) of them said that HDFC Children’s plan didn’t fulfill their
children dreams so try to provide some more information about the benefit of the plan to
regain the remaining respondents
...
Hence, amendments can be made in this
regard by offering insurance cover at reasonable premium rates and also provide some
more new benefits to the respondents
...
Hence give some more new schemes related to Child
Insurance plan which attract more customer compare to other companies
...
The study has been able to accomplish its objectives, by thoroughly analyzing
and identifying the competitive position of HDFC Life, strengths and weaknesses of various
insurance covers among the clients of various insurance companies, customer’s awareness
and perception about the company and its products
...


The outcome of the study has proved that the performance of the company is outstanding in
comparison with other competitors in Child Insurance plan and that the company has a higher
reputation among customers
...
The company by adopting some of the recommendations, if not all, can
further improve its performance and occupy a leading position among other competitors in
the Life insurance market (i
...
, Children’s plan) in future years to come
...
SARAVANA, pursuing MBA in SAI VIDYA INSTITUTE OF
TECHNOLOGY, Bangalore
...
I have selected the project topic as “A
STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS
COMPETITORS”
...
I
would request you to give your valuable responses
...
These data shall be collected and used for academic purpose
only
...
Which company’s Children plan you have taken?
a
...
LIC India
b
...
Others
c
...
ICICI Prudential Life
(
)
2
...
Yes (
)
b
...
From which sources did you come to know about Child Insurance plan?
a
...
Agents
( )
e
...
Television
(
)
d
...
Which plan do you prefer in HDFC Children plan?
a
...
Children Plan Double Benefit
(
)
5
...
Highly Satisfied
(
) c
...
Highly Not Satisfied ( )
b
...
Not Satisfied (
)
6
...
SBI Life
(
)
d
...
Birla Sun Life
(
)
e
...
ICICI Prudential Life
(
)
7
...
Yes (
)
b
...
Are you satisfied about premium paying terms & benefits provided by Insurance
Company?
a
...
Neutral
(
) e
...
Satisfied
( ) d
...
Reason for choosing Children plan because of Insurance coverage?
a
...
Neutral
(
) e
...
Agree
(
) d
...
Do you view the following sources of information is important while investing in
Children plan?
a
...
Tax Saving
(
)
b
...
Others
(
)
11
...
Yes (
)
b
...
If yes, please write your valuable suggestions?
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
Department of Management Studies, S V I T
Page 86

A STUDY ON COMPARISON OF CHILD INSURANCE PLAN OF HDFC LIFE WITH ITS COMPETITORS

13
...
Yes (
)
b
...
Am really grateful to you
Sir/ Madam
...




HDFC Life Annual Report (2011-2012)
...




IC-33 LIFE INSURANCE Printed & Published by Insurance Institute of India in
2007
...


WEB- SITES



www
...
com



www
...
com



www
...
co

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