Reliance Project

UNIQUE INSTITUTE OF MANAGEMENT

A Project Report

On

“TO CREATE MARKET POTENTIAL FOR FINANCIAL PRODUCTS OF RELIANCE

CAPITAL SERVICE”

Submitted ByMr. ABHISHEK S. BANJARE.

(MBA BATCH 20010-11)

Submitted ToMiss. Supriya Chetram.

Business Development manager

ACKNOWELDGEMENT

It has been great pleasure for me to work as a summer trainee in an esteemed organization like Reliance capital service, which made me aware of the culture followed in the organization and gave me a great exposure.

The project work has been made possible through direct and indirect co-operation of various persons for whom I wish to express my appreciation and gratitude.

I shall remain grateful to Ms Pranoti Agrawal for her incisive support and objective guidance during the project. I am also grateful for the kind co-operation and guidance provide by our Director Prof.Mr Uttam Sapate and Project Guide Prof.Mr. G. Waghmare, without which the project could not be completed successfully.

Once again I express my gratitude to Reliance capital service, for their kind co-operation.

Last but not the least I thank my parents and friends who gave me moral support throughout.

Thanks to you all.

(Abhishek S. Banjare)

MBA-I

(UIOM, Pune)

UNIQUE INSTITUTE OF MANAGEMENTS. NO. 36/3C, Gokul Nagar, Katraj Kondhava Road, Katraj,

Pune-411046.Ph.: 020- 26961995

Certificate

This is to be certified that Project report titled... SALES AND MARKETING FOR RELIANCE

CAPITAL SERVICES… is a benefical work carried out by…Mr. ABHISHEK S. BANJARE…

Student of MBA-II of our Institute for fulfillment of MBA degree of University of Pune. He has worked under our guidance and supervision. In the Duration 15th May

2010 to 15th July 2010.

Dr.Shantilal Kumavat. Mr.Noorul Ameen. Mr.UTTAM B. SAPATE. (HOD) (CEO) (Director)

................................. ………………….. …………………….

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TABLE OF CONTENTS

SR. NO.

PARTICULARS PAGE NO

1. EXECUTIVE SUMMARY 5

2. INTRODUCTION 7

3. COMPANY PRODUCTS AND ITS DETAIL

26

4. RESEARCH DESIGN 58

5. GRAPHICAL REPRESENTATION OF DATA

60

6. OBSERVATIONS AND FINDINGS 63

7. SUGGESTIONS 64

8. LIMITATIONS 65

9. OUESTIONNAIRES 66

10. CONCLUSIONS 67

11. BIBLIOGRAPHY 68

CHAPTER I

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

This project was carried out for the study of placement of Reliance Insurance Products at Pune. This project has given us excellent chance to work intimately with the organization and it is a wonderful and overwhelming experience working with Reliance capital service, Pune.

The project is titled “SALES AND MARKETING FOR RELIANCE CAPITAL SERVICES. And People feedback for Reliance capital service.” The basic

objective was to have in-depth study of the main competitors of Reliance capital service and their distribution network across Pune region.

The research methodology adopted for the accomplishment of the objectives was interviewing with the people, using a detailed questionnaire as an instrument. The data was collected by primary and secondary sources. Primary source of data was collected through well structured questionnaire which was supported by personal interview that included both open ended and close ended questions. Other information was collected through websites & company files which acted as a secondary source of data. The survey was conducted in Pune region by choosing different type of working people and there need to have an insurance according to their level of investment.

The survey regarding market share shows that Reliance capital service, leads the market in insurance sector with competitors like L.I.C, Bajaj Alliance and ICICI Prudential and many more companies. But, there are also companies which are ahead of Reliance capital service like S.B.I. It shows that the margin is quite high for different insurance products but the distribution network has to build in more efficiently for better and higher progress.

The company must undertake various promotional strategies to boost up their distribution network and at the same time must advertise their products through various channels like newspapers, hoardings, manuals, brochures etc;.

This is the brief summary of the project presented.

CHAPTER II

INTRODUCTION About Company Sales And Marketing of Reliance Capital Services

Business Overview Company Profile Chairman's Profile Top Management Profile

Company History Vision

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INTRODUCTION

This project includes the study of Insurance and Insurance Products and feedback from people and customer.This project includes personal interview of different working group of the people who are interested in having insurance of both family and property in Pune District. And their feedback is an important aspect in this project.

Personal interview was based on questionnaire. The entire question in the questionnaire is related to Project objective. I have achieved the project objective through questionnaire and their interpretation and analysis. Questionnaire includes both open ended and close ended question.

Project is related to Sales and Marketing for Reliance Capital Service is included in project.

REASONS FOR SELECTING THE TOPIC:

The objective of this project is to evaluate the pattern of placement of different insurance products according to the need of the people. This topic has been selected by me to know the whole process involved in the distribution and placement of insurance in that particular area at Pune.

This also involved meeting with people and individuals. This has given me exposure in the real market and to analyze the real market situation. Another reason is to find out the opportunities that exist in this insurance sector. To accomplish these objectives as whole it involves meeting with different people, professionals, and collecting feedback from them.

About Company

Reliance Capital Services Pvt. Ltd.

Sales and marketing of Reliance Capital Financial product

Chairman: Mr. Vinod Haritwal

Address : Reliance capital Services Pvt. Ltd. 501, sacred world, South Block, 5th Floor, wanowari.

Maharashtra : (India)

Phone no : (020)30496515

Fax : (91)-(22)-28429861

E-mail : [email protected]

Web site : www.reliancelife.com

SALES AND MARKETING OF RELIANCE CAPITAL SERVICES

By sales and marketing (promotion, response to customer, advertising.) we cover global customer. Maintain data which helps to marketing (i.e. customer name, address, phone/fax number email id, web site, costumer investment, financial condition and future plan).

OBJECTIVES OF PROJECTS

To understand the what is RELIANCE CAPITAL SERVICES

To understand how to reliance capital services helps to marketing.

How to maintain sales and marketing. What are the advantage of sales and marketing? To understand what is Reliance capital services. How to cover world market by Reliance capital services. What is Insurance? How to convince the customer by marketing. How to provide service to customer How to satisfy customer requirements’

Business Overview

Reliance Capital, a constituent of S&P CNX Nifty and MSCI India, is a part of the Reliance Anil Dhirubhai Ambani Group. It is one of India's leading, most valuable and fastest growing financial services companies in the private sector.

Reliance Capital has interests in asset management and mutual fund; life and general insurance; consumer finance and industrial finance; stock broking; depository services; private equity and proprietary investments; exchanges, asset reconstruction; distribution of financial products and other activities in financial services.

Reliance Mutual Fund is India's largest Mutual Fund with over seven million investors. Reliance Life Insurance is one of India's fastest growing life insurance companies and among the top four private sector insurers. Reliance General Insurance is one of India's fastest growing general insurance companies and among the top three private sector insurers. Reliance Money is one of India’s leading retail brokerage houses and distributors of financial products and services.

Reliance Capital has a net worth of Rs. 7,832 crore (US$ 2 billion) and total assets of Rs. 24,210 crore (US$ 5 billion) as on December 31, 2009.

Business mix of Reliance Capital

Asset Management Mutual Fund, Portfolio Management, Offshore Fund

Insurance Life Insurance, General Insurance

Consumer Finance Mortgages, Vehicle Loans, Loans against shares, Business Loans

Broking and Distribution

Stocks Commodities and Derivatives, Wealth Management Services, Portfolio Management Services, Investment Banking, Foreign Exchange and Offshore Investment, Third Party Products

Other Businesses Asset Reconstruction, Institutional Broking, Private Equity, Exchanges

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Company profile

Reliance Life Insurance Company Limited, a Reliance Capital Company is a part of Reliance - Anil Dhirubhai Ambani Group. Reliance Capital Limited is one of India’s leading private sector financial services companies.Reliance Life Insurance offers you products that fulfill your savings and protection needs. Our aim is to emerge as a transnational Life Insurer of global scale and standard.Reliance Capital Limited has interests in asset management and mutual funds, stock broking, life and general insurance, proprietary investments, private equity. And other activities in financial services. Reliance – Anil Dhirubhai Ambani Group also has presence in Communications, Energy, Natural Resources, Media, Entertainment, Healthcare and Infrastructure. Reliance Life Insurance Company Limited is a

part of Reliance Capital Ltd. of the Reliance - Anil Dhirubhai Ambani Group.

Reliance Life Insurance is another step forward for Reliance Capital Limited to

offer need based Life Insurance solutions to individuals and Corporate.

Reliance Capital Ltd. is one of India’s leading and fastest growing private sector

financial services companies, and ranks among the top 3 private sector financial

services and banking companies, in terms of net worth. Reliance Capital Ltd.

has interests in asset management, life and general insurance, private equity and

proprietary investments, stock broking and other financial services.

We believe that you are the force behind the company.

And with your growth will come the drive that can take this company to higher

and stronger levels. Creating a huge wave of satisfaction, not only for our

customers and us, but for your career as well.

When Dhirubhai embarked on his first business venture, he had a seed capital of barely US$ 300 (around Rs 14,000). Over the next three and a half decades, he converted this fledgling enterprise into an Rs 60,000 crore colossus—an achievement which earned Reliance a place on the global Fortune 500 list, the first ever Indian private company to do so.

Dhirubhai is widely regarded as the father of India’s capital markets. In 1977, when Reliance Textile Industries Limited first went public, the Indian stock market was a place patronised by a small club of elite investors which dabbled in a handful of stocks.

Undaunted, Dhirubhai managed to convince a large number of first-time retail investors to participate in the unfolding Reliance story and put their hard-earned money in the Reliance Textile IPO, promising them, in exchange for their trust, substantial return on their investments. It was to be the start of one of great stories of mutual respect and reciprocal gain in the Indian markets.

Under Dhirubhai’s extraordinary vision and leadership, Reliance scripted one of the greatest growth stories in corporate history anywhere in the world, and went on to become India’s largest private sector enterprise.

Chairman's Profile

Regarded as one of the foremost corporate leaders of contemporary India, Shri Anil D Ambani, 50, is the chairman of all listed companies of the Reliance ADA Group, namely, Reliance Communications, Reliance Capital, Reliance Infrastructure, Reliance Natural Resources, Reliance Power and Reliance Big Entertainment. He is also Chairman of the Board of Governors of Dhirubhai Ambani Institute of Information and Communication Technology, Gandhi Nagar, Gujarat.An MBA from the Wharton School of the University of Pennsylvania, Shri Ambani is credited with pioneering several financial innovations in the Indian capital markets. He spearheaded the country's first forays into overseas capital markets with international public offerings of global depositary receipts, convertibles and bonds. Under his chairmanship, the constituent companies of the Reliance ADA group have raised nearly US$ 3 billion from global financial markets in a period of less than 15 months.

He is a member of:

Wharton Board of Overseers, The Wharton School, USA Central Advisory Committee, Central Electricity Regulatory Commission Board of Governors, Indian Institute of Management, Ahmedabad Board of Governors Indian Institute of Technology, Kanpur

In June 2004, he was elected for a six-year term as an independent member of the Rajya Sabha, Upper House of India's Parliament a position he chose to resign voluntarily on March 25, 2006.

Awards and Achievements

Conferred the 'CEO of the Year 2004' in the Platts Global Energy Awards Rated as one of 'India's Most Admired CEOs' for the sixth consecutive year

in the Business Barons - TNS Mode opinion poll, 2004 Conferred 'The Entrepreneur of the Decade Award' by the Bombay

Management Association, October 2002

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Awarded the First Wharton Indian Alumni Award by the Wharton India Economic Forum (WIEF) in recognition of his contribution to the establishment of Reliance as a global leader in many of its business areas, December 2001

Selected by Asiaweek magazine for its list of 'Leaders of the Millennium in Business and Finance' and was introduced as the only 'new hero' in Business and Finance from India, June 1999

Top Management Profile

Reliance Capital is anchored by a team of experienced and committed visionaries who are dedicated towards scaling the company to greater heights through innovation and excellence; thereby creating value for all our stakeholders.

Amit Bapna (Chief Financial Officer, Reliance Capital)Amit Bapna, 34, is the Chief Financial Officer at Reliance Capital. He has been with Reliance Capital since 2004 and with the Group since 1999. As CFO, he provides financial direction, oversight and control for Reliance Capital and Group companies and strategic leadership for Treasury. He has over eleven years of experience in varied business environments—manufacturing and financial services.

He earlier worked in the capacity of CFO of Reliance Capital Asset Management Ltd and Reliance Consumer Finance where he played a key role and had been a significant contributor to the exponential growth of our Asset management business and has brought in operational & process disciplines, which has been invaluable to the Consumer Finance business.

Prior to that he worked in the Corporate Treasury of Reliance Industries Ltd.

Amit is a chartererd accountant by qualification. He is interested in Travelling, Dining out and watching movies.

Arun Hariharan (President, Quality and Knowledge Management, Reliance Capital)


Arun Hariharan, 42, is President, Quality and Knowledge Management at Reliance Capital. The company has achieved significant business results from Quality and KM initiatives such as Lean Six Sigma and IdeaExpress including over Rs. 100 crore in savings so far. Thousands of employees have participated in these initiatives. Two of Reliance Capital’s businesses have won the “Economics of Quality” commendation Award from the Government of India and also been selected for the Asian Network for Quality Congress, in Japan in 2009.

Before joining Reliance Capital in October 2005, Arun led one of the most successful Six Sigma Quality & KM programs in Indian industry at Bharti AirTel. These have now become case-studies at leading business schools, including IIMs. His total work experience spans 23 years across different companies and roles.

He is frequently invited to speak at Quality and KM events. He has thrice been Chairperson at the International Quality and Productivity Council’s Six Sigma conferences around the world. Recently, he was a key speaker at the World Congress for Total Quality and Corporate Governance.

He is the author of several papers and articles in leading international journals on the topics of Quality Leadership and KM. This includes his white paper on Quality lessons for Leadership published by the American Society for Quality.

Arun’s educational qualifications include an MS (Finance) and MBA, both from the University of Illinois at Chicago, USA. His other interests are reading, travel, and music.

K. Achuthan (Chief People Officer, Reliance Capital)K. Achuthan, 40, is the Chief People Officer at Reliance Capital. He has been with Reliance Capital since 2006. As the Human Resources Leader, he is responsible for conceptualizing and implementing state of the art and relevant Human Resource strategies to accelerate growth at Reliance Capital. He has eighteen years of HR leadership experience in diverse business environments—manufacturing, consulting, and financial services. He has worked in India, South East Asia, and in North East Asia. He has held a variety of roles ranging from organization development and staffing, management consulting, union relations, and HR leadership.

Achuthan’s last job was at General Electric. He is a post-graduate in social

work from Madras University. He is also a trained CAP coach and facilitator. He has delivered several training sessions on Change Acceleration, Work-Out™ and Facilitative Leadership skills.

Achuthan’s is interested in hiking, photography, and playing the keyboard.

K. A. Somasekharan (Chief Executive Officer, Reliance General Insurance)K. A. Somasekharan, 59, has 30 years of experience in General Insurance. Soma took over as CEO of Reliance General Insurance in April 2005. He is instrumental in making Reliance General Insurance grow, fast. Under Soma's inspiring leadership, RGI's top-line has grown nearly 12 times to Rs. 1,915 crore as on March 31, 2009, becoming the third largest private General Insurance company.

Soma's biggest achievement though is the creation of a network of 200 offices across 172 cities with 7,800 intermediaries along with setting up RGI's retail business virtually from scratch.

Before becoming the CEO of Reliance General Insurance, Soma served as Vice President, Corporate Marketing of RGI in Mumbai. Prior to this, he was associated with United India Insurance and last served in the capacity of Regional Manager. When free, he reads books and magazines of all genres.

K. V. Srinivasan (Chief Executive Officer, Reliance Consumer Finance)K. V. Srinivasan, 44, is the CEO of Reliance Consumer Finance and of Reliance Home Finance; both are subsidiaries of Reliance Capital.

KV has been leading the consumer finance business since December 2007. He has been instrumental in building a strong team to accelerate growth, responsibly. KV oversees both the companies that are building a quality portfolio of assets, and delivering significant return on

investments.

He has been with the Reliance Capital for the past four years. Earlier, he was the COO of Reliance Life insurance, during which time that company became India's fastest growing life insurance company-having grown from 11th to 4th place. Before joining Reliance Capital, he was the Financial Controller and Company Secretary of Citicorp Finance, a Citibank subsidiary.

KV has done his MBA from IIM, Ahmedabad. He is an outdoor and fitness enthusiast, and is very passionate about music.

Lav Chaturvedi (Chief Risk Officer, Reliance Capital)Lav Chaturvedi, 33, is the Chief Risk Officer for Reliance Capital since October 2008. He is responsible for assessing and managing enterprise-wide risks at the group level covering various risks such as credit, market, operations, etc. across all businesses and geographies and risk aggregation for centralized risk and capital management. He is responsible for integral Internal Audit function at group level. He has been instrumental in developing best-in-class risk management capabilities and culture by creating a clear direct line of sight from risk management to stakeholder value. Before this, he was the Head, Risk Management in Reliance Mutual Fund, which he joined in January 2007.

Lav has worked with Ips Sendero, subsidiary of Fiserv (a Fortune 500 company), in Scottsdale, Arizona, USA at the senior management level, providing strategic and tactical consulting on balance sheet management to the clients and assisting in the resolution of advanced analytical and policy issues. He has rich and in-depth exposure to the entire spectrum of commercial as well as financial functions in the corporate finance, banking and consulting industries at the domestic as well as international level.

Lav has an MBA from Syracuse University, New York. He is also a Chartered Financial Analyst from the CFA Institute, USA. He is a steering committee member of PRMIA's Mumbai Chapter (Professional Risk Managers' International Association).

Lav is a great sports enthusiast and loves to play tennis, basketball, and racket-ball.

Madhusudan Kela (Head - Equity Investments, Reliance Capital Asset

Management)Madhusudan Kela, B.Com, MMS, is the Head of Equity Investments at Reliance Capital Asset Management Ltd. He has accumulated over 13 years valuable experience in sales and dealing. His last assignment was with Reliance Capital Ltd as Vice President, looking after Equity Investments. Prior to joining the Reliance Group, Kela spent valuable time with Peregrine Securities as the Vice President, Equity Sales and Dealing. Before Peregrine, he held similar positions with UBS Securities and Motilal Oswal.

Malay Ghosh (President, Reliance Life Insurance)Malay Ghosh, 49 is the President of Reliance Life Insurance. He is an ardent believer in a collaborative managerial style, but his focus remains on all-round growth with profitability.

He joined Reliance Capital in April 2008 as Deputy CEO of Reliance Life Insurance where he led its Sales, Distribution, Retention and Product Development functions. He played a pivotal role in steering the company on the growth path despite challenging market conditions and ensured remarkable success. In FY 08-09 the company grew by 28% when the industry contracted by 6%.

With over 24 years experience in the life insurance industry he brings to the table rich exposure, knowledge and operational excellence. His last job was with Bajaj Allianz Life Insurance where as Head of Sales he spearheaded the company on the growth path with his aggressive sales and distribution acumen.

Malay holds a Masters degree in Statistics from the Indian Statistical Institute, Kolkata. He is an avid reader and enjoys listening to Rabindra Sangeet. He has a keen interest in teaching due to his passion for spending time with young minds. He is also associated with an NGO working in the area of poverty alleviation and primary education as its Chief Mentor.

Noorul Ameen (Chief Executive Officer, Reliance Capital Services)

Noorul Ameen, 35, is the CEO of Reliance Capital Services. This was started in 2008 to cross-sell Reliance Capital's different offerings to the shareholders, customers, and employees of the entire Reliance-Anil Dhirubhai Ambani Group. In one year, RCS has got 60,000 customers that are served by 2,000 employees from 47 offices in the country.

Noorul was earlier with Bajaj Allianz, where he headed its specialized distribution arm, Bajaj Allianz Financial Distributors. He has always been in the financial services industry.

Noorul has completed his studies from Bangalore. He is always optimistic, enthusiastic and very passionate about his work, though he is hardly able to spare some time towards his other passion for driving on long drives, listening to music. He also loves watching cricket, besides having interest in golf and Snooker too

Rajnikant Patel (President & CEO, Reliance Exchange Next)Rajnikant Patel, 48, is the President and CEO of Reliance Exchange Next. He is heading the Exchange Initiatives of Reliance ADA Group at Reliance Capital as a separate business vertical. He has set up a new exchange called Reliance Spot Exchange which aims to bring the physical markets (mandis) to a national level through a single electronic screen and build national infrastructure for the Spot Markets. He joined Reliance Money in October 2008.

An accomplished banker, Rajnikant had a long stint with the banking regulator, Reserve Bank of India. He has also worked with both Public sector banks and with Multinational Bank like State Bank of Saurashtra, Bank of Maharashtra, and BNP PARIBAS. Prior to joining Reliance Capital, he was the MD & CEO of Bombay Stock Exchange (BSE). He spearheaded the Corporatization and Demutualization of BSE making BSE the first Indian Exchange to do so. He has been a member of the Working committee of the World Federation of the Exchanges (WFE) and the longest serving Chairman of South Asian Federation of Exchanges (SAFE).

He is the recipient of awards like “Indira Super Achiever Award” and “Accor HR Excellence-CEO with HR Orientation Award”. He is the Distinguished Fellow of the Institute of Directors, London. He holds Masters in Commerce with a degree in Law and Banking.

An avid reader, he loves motorcycling. He has even participated in a National Motorcycle Rally. He is also interested in photography and occasionally writes poetry.

Sam Ghosh (Chief Executive Officer, Reliance Capital)Sam Ghosh, 50, is the Group Chief Executive Officer of Reliance Capital. He joined the company in April 2008.

Before joining Reliance Capital, Sam was the Regional CEO of Middle East and India Sub Continent region of Allianz, a German insurance company. Earlier, he was the CEO of Bajaj Allianz's India operations. Prior to that he was involved in setting up operations for Allianz in South East Asia. He spent ten years in Australia in various capacities with Allianz from CFO to managing subsidiary companies as well as operations in the Pacific Rim.

Sam Ghosh is a Chartered Accountant from England. He is an avid reader of all genres in his spare time.

Sandeep Phanasgaonkar (Chief Technology Officer, Reliance Capital)Sandeep Phanasgaonkar is President & Chief Technology Officer for Reliance Capital Ltd. Sandeep is responsible for all IT initiatives at Reliance Capital.

Sandeep has over 24 years of experience in applying IT solutions for finance, banking and BPO and IT-enabled services. He began his career with the State Bank of India and has worked with Tata Infotech, iFLEX Solutions and with Deutsche Bank as its Regional-Asia Technology Head. He joins Reliance Capital from Genpact where he was the Global Chief Information Officer. Sandeep led the critical IT Transition of Genpact from GE and was responsible for global IT delivery and driving operating efficiencies

across India and the global locations of the company.

Sandeep's current role as CTO for Reliance Capital requires him to drive both Line-of-Business (LOB) specific initiatives and pan-Capital, strategic initiatives for the enterprise. This leverages synergy between different Line-of-Business functions, creating a differentiating value proposition for the company's services and products and also a whole, new service and relationship proposition for the customer. He is also focusing very keenly on driving productivity and taking cost out of IT and business operations and giving a whole new meaning to the phrase "doing more with less".

Sandeep is an MBA from Jamnalal Bajaj Institute of Mgmt Studies, Mumbai.

Sanjay Jain (Chief Marketing Officer, Reliance Capital)Sanjay Jain, 42, is the Chief Marketing Officer of Reliance Capital. He works very closely with all Relaince Capital companies in defining their marketing and brand strategies.

Sanjay has been with Reliance Capital since August 2008. He brings eighteen years of strong and diverse experience as a marketing and management executive with extensive experience in marketing, product and brand development, new launches, strategic planning, developing new business opportunities and project management.

His last job was with Bajaj Allianz as Marketing Head. He’s also worked with other leading organisations like The Coca-Cola Co., Ogilvy, and the Times of India Group and Bajaj Allianz.

Sanjay loves adventure sports, going out to watch games with friends at the stadiums, exploring new territories, and watching Bollywood movies.

Sundeep Sikka (Chief Executive Officer, Reliance Capital Asset Management)

Sundeep Sikka, 37, is the Chief Executive Officer of Reliance Capital Asset Management, which runs India’s largest mutual fund, Reliance Mutual Fund. Before becoming the CEO in January 2009, he was the Deputy CEO of the company. Sundeep has been with RCAM since October 2003 and in that time he has been instrumental in expanding RCAM’s footprints in both domestic and international territories.

Sundeep and has more than fifteen years of leadership experience with NBFCs and Banks. Sundeep brings a proven track record of success and a broad understanding of the company's business. Prior to RCAM, Sundeep has held a number of other senior management positions; his last stint was with ICICI Bank.

Sundeep has an MBA from Pune University. His hobbies are reading and traveling.

Vikrant Gugnani (Chief Executive Officer, International Business-

Reliance Capital)Vikrant Gugnani, 39, is the CEO, International Businesses, of Reliance Capital Ltd - one of India’s largest financial services companies with over 20 million customers. In his current role, Vikrant leads international business strategy across all lines of Reliance Capital businesses. He has successfully established a global footprint for Reliance Capital in asset management in Singapore and Malaysia and wealth management in UAE.

A Chartered Accountant & a commerce graduate from Delhi University, Vikrant has over 19 years of extensive experience in the financial industry and has worked in various countries with global firms like Citibank and S. B. Billimoria & Co (now Deloitte Haskins).

Prior to his current assignment, he was the CEO of Reliance Capital Asset Management (RCAM) Limited in India. Under his leadership, the company saw its asset under management surge from USD 3 billion to USD 22 billion and its net profit increase from USD 3 million to USD 28 million. RCAM, today, is the largest asset management company in India.

In January 2009, Asia Asset Management (an Asian Pensions & Investments Journal) awarded Vikrant as CEO of the year (2008) for India. Vikrant has also been listed by the Asian Investor magazine as one of the “25 most influential

people in asset management in Asia” in May 2009.

In addition to his existing profile, Vikrant Gugnani is the Executive Director of Reliance Securities Ltd - a broking and distribution company offering Equity and Derivatives trading, distribution of Mutual Fund and IPOs, Portfolio Management, Wealth Management and Investment Banking.

Vikrant is passionate about traveling and playing golf.

Company History

Reliance Capital Limited (RCL) was incorporated in year 1986 at Ahmedabad in Gujarat as Reliance Capital & Finance Trust Limited. The name RCL came into effect from January 5, 1995. In 2002, RCL shifted its registered office to Jamnagar in Gujarat before it finally moved to Mumbai in Maharashtra, in 2006.

In 2006, Reliance Capital Ventures Limited merged with RCL and with this merger the shareholder base of RCL rose from 0.15 million shareholders to 1.3 million.

RCL entered the Capital Market with a maiden public issue in 1990 and in subsequent years further tapped the capital market through rights issue and public issues. The equity shares were initially listed on the Ahmedabad Stock Exchange and The Stock Exchange Mumbai. Presently the shares are listed on The Stock Exchange Mumbai and the National Stock Exchange of India.

RCL in the initial years engaged itself in steady annuity yielding businesses such as leasing, bill discounting, and inter-corporate deposits. Later, in 1993 diversified its business in the areas of portfolio investment, lending against securities, custodial services, money market operations, project finance advisory services, and investment banking.

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RCL was accredited a Category 1 Merchant banker by the Securities Exchange Board of India (SEBI). It had lead managed/co-managed 15 issues of an aggregate value of Rs. 400 crore and had underwritten 33 issues for an aggregate value of Rs. 550 crore. All these companies were listed on various exchanges.

RCL obtained its registration as a Non-banking Finance Company (NBFC) in December 1998. In view of the regulatory requirements RCL surrendered its Merchant Banking License.

RCL has since diversified its activities in the areas of asset management and mutual fund; life and general insurance; consumer finance and industrial finance; stock broking; depository services; private equity and proprietary investments; exchanges, asset reconstruction; distribution of financial products and other activities in financial services.

Vision

Reliance Capital's vision is that:

By 2012, it will be a company that is known as:

“Most trusted financial services company in India and in the emerging markets".

In doing so, the company expects to reach the following targets by 2012:

1. 50 million customers. 2. 75,000 employees 3. A profit after tax of Rs. 5,000 crore for that financial year. 4. A valuation of Rs. 100,000 crore for the company and its subsidiary

businesses.

In achieving this vision, the company will be both customer-centric and innovation-driven.

CHAPTER III

Company Products

Product Details

Company Products

1] Reliance Life Insurance – Reliance Traditional Super Invest Assure Plan

2] Reliance Imaan investment Basic Plan – Reliance life insurance Policies

3] Reliance Life Secure Child Basic Plan - Child Life Insurance, Children Saving

Plan, Child Protection plans in India.

PRODUCT DETAILS

1] Reliance Life Insurance – Reliance Traditional Super Invest Assure Plan

You have always aspired for the best in life. And we help you achieve that.Here's a unique plan which combines protection and savings. It also offers

Complete flexibility to gain control over your investments vis-à-vis your financial needs and risk appetite. We value your regular investments andThus reward you with Guaranteed Addition thus promising unmatchedbenefits. This plan also offers you a unique option of moving from aConservative fund to an aggressive fund systematically, to take advantage of theRupee cost averaging model. A plan that promises you, what youOught to deserve as you reach greater heights in life. What more can you askFor except gifting yourself with RelianceSuper Invest Assure Basic Plan.

Key Features

Twin benefit of market linked return and insurance Protection Guaranteed addition of 250% of basic regular Annualized premium at maturity Investment opportunity with flexibility -Choose from Eight pure investment fund options Option to pay Top-up Premium(s) Liquidity in the form of partial withdrawals A host of optional rider benefits to enhance Protection cover

How does this Plan work?

As a customer you have the liberty to choose betweeneight fund options. The premium contributions made byyou, net of Premium Allocation Charges are invested infunds of your choice. The units are allocated dependingon the price of units for the funds. The Fund Value is thetotal value of units that you hold across all the unit linkedfunds.As a Guaranteed Addition, 250% of basic regularannualized premium (excluding rider premiums) will beadded to the Fund Value at maturity, provided the policyis in force and all the due premiums are paid.

Sum Assured

Minimum Sum Assured:Five times of Annualized PremiumMaximum Sum Assured:Depends on the age at entry

Age at entry(last birthday)

Maximum Sum Assured

0 to 40 30 times of Annualized Premium




56 and above

5 times of the Annualized Premium

BenefitsLife Cover Benefit:

If death of the life assured occurs beforecommencement of risk cover#, Total fund value as onthe date of intimation of death will be paid

If death of the life assured occurs aftercommencement of the risk cover# but before the60th birthday, the higher of I or II will be paid, where

I. Sum Assured (less all partial withdrawals madefrom the policy fund during the 24 months priorto the date of death)

II. Total fund value as on the date of intimationof death.

If death of the life assured occurs on or after 60thbirthday, the higher of I or II will be paid, where

I. Sum Assured (less all partial withdrawals made

from the policy fund during the 24 monthsbefore attaining 60th birthday and allwithdrawals made from the policy fund afterattaining 60th birthday)

II. Total fund value as on the date of intimationof death.The policy terminates on payment of death benefit.#Commencement of risk cover on the Life Assured willdepend on the age of the Life Assured on commencementof the policy.

If age of the Life Assured on commencement of thepolicy is less than 6 years last birthday, the risk coveron the life of the Life Assured will commence eitherone year from the date of commencement of thepolicy or from the policy anniversary falling on orimmediately after the sixth birthday of the LifeAssured whichever is later

If age of the Life Assured on commencement of thepolicy is equal to or more than 6 years last birthdaybut less than 12 years last birthday then the risk coveron the Life Assured will commence after one yearfrom the date of commencement of the policy.

If age of the Life Assured on commencement of thepolicy is equal to or greater than 12 years lastbirthday, the risk cover on the Life Assured willcommence immediately.

Maturity Benefit

On survival of the life assured to maturity, the total fundvalue related to the basic plan including the fund valuerelated to the Guaranteed Additions will be paid. Thepolicy terminates on payment of maturity benefit.

Rider Benefits

You can add following optional rider benefits: Reliance New Major Surgical Benefit Rider Reliance New Critical Conditions (25) Rider

Reliance Term Life Insurance Benefit Rider Reliance Accidental Death and Total and Permanent

Disablement Rider

Pay Top-up Premium(s)

You can use your bonus or some lump sum money toincrease investments component. The minimum top-up isRs. 2,500. The total top-up premiums at all times shouldnot exceed 25% of the total regular premiums paid tillthat time. Top-up are accepted only when due basicpremiums are paid up to date.Partial Withdrawals:Partial withdrawals are available after a period of 3 yearsfrom the date of commencement of the policy or onattainment of age 18 by the life assured whichever is later.There would be a 3-years lock-in period on the top-uppremium(s) from the date of payment of each top-uppremium(s). This condition will not apply if top-uppremium(s) are paid during the last 3 years before the maturity.The minimum amount of partial withdrawal is Rs.5000 and the maximum amount should not exceed 20% ofthe policy fund value in that policy year. However, at anypoint of time during the policy term, the minimum fundbalance after the partial withdrawal should be at least equalto 125% of the annualized premium. Partial Withdrawalcharges applicable. Refer the section on Charges.

Exchange Option

This option is available for existing policyholders ofReliance Life Insurance Company Ltd after completion of 3policy years from the date of commencement. Under thisoption, the policy holder can transfer policy benefits(surrender, maturity etc.) either fully or partially to anotherplan of Reliance Life Insurance Company Ltd, havingexchange options facility at a reduced allocation charge.This option must be exercised at least 30 days before the

receipt of benefit under the policy.

MINIMUM MAXIMUM

Age at entry 30 days 60 years last birth day

Age at Maturity 20 years last birth day

80 years last birth day

Policy Term 20 years 30 years

Premimum Yearly Rs- 10,000 No Limit

Half yearly Rs-5000

Quarterly Rs- 2,500

Monthly Rs- 1000

What happens if I discontinue paying premiums?

Within three years of inception of the policy:If premiums have not been paid for at least threeconsecutive years from the inception, the insurancebenefits and rider benefits if any will cease immediately.However, the policyholder will continue to participate inthe performance of unit funds. The monthlyadministration charges will be deducted from the FundValue by cancellation of units. The fund managementcharge will be priced in the unit value.After paying at least 3 full years' premiums:If subsequent premiums are unpaid, the policy wouldremain in force with the insurance benefit intact. The riderbenefits if any will cease immediately. The mortality andother charges will continue to be deducted.

What if I want to discontinue the Policy?

You may make full surrender of your policy at any timeafter 3 years from commencement of the policy. Thesurrender value under the basic plan will be Total fundvalue less surrender charge. Whenever full surrender valueof basic plan is paid, the surrender value of any attachingtop-up premium(s), if any will also be paid. In case of topuppremium(s), the surrender value will be payable oncompletion of 3years from the date of payment of top-uppremium(s). This condition will not apply if top-uppremium(s) are paid during the last 3 years before thematurity. The surrender charge is not applicable on top-uppremium(s). The surrender value is therefore equal to thefund value under the top-up premium(s).

Grace Period for payment of premiums

There is a grace period of 30 days from the due date forpayment of regular premiums. In case of monthly mode,the grace period is of 15 days. A policy lapses if premiumsare not paid within the days of grace.

15 day free look period

In the event the policyholder disagree with any of theterms and conditions of the policy, he/she may return thepolicy to the Company within 15 days of its receipt forcancellation, stating his/her objections in which casehe/she shall be entitled to a refund of the premium paid,subject only to a deduction of a proportionate riskpremium for the period on cover and the expensesincurred by the insurer on medical examination of the lifeassured and stamp duty charges.

Tax Benefit

Premium paid under the basic policy, Reliance Term life

insurance benefit rider and Reliance Accidental Death andTotal and Permanent Disablement Rider are eligible for taxdeduction u/s 80C of the Income Tax Act, 1961, providedthe annual premium during the year does not exceed 20%of the Sum Assured. Premium paid under Reliance NewMajor Surgical Benefit rider and Reliance New CriticalConditions (25) riders are eligible for tax deduction u/s80D of the Act. The benefits under this plan and riders aretax exempt u/s 10 (10D) of the Act subject to conditions.Service tax and education cess will be charged extra as perapplicable rates. Please note that all benefits payable underthe policy are subject to tax laws and other financialenactments as they may exist from time to time. You arerecommended to consult your tax advisor.

Premium Allocation Charge: Premium AllocationCharges are deducted from premiums as they are paidbefore allocation of units each time a premium is received.The allocation charge on the top-up premium(s) will be @2% of the top up premium(s)

General Exclusion:

If the Life Assured commits suicide for any reason, whilesane or insane, within 12 months from the date ofcommencement of this policy or the date of any revival ofthe policy this policy shall be treated as null and void, andthe Company will limit the death benefit to the FundValue and will not pay any insured benefit.

Revision of charges

The revision in charges, except service tax charge inclusiveeducational cess will take place only after obtainingspecific approval of the IRDA. A notice of 3 months will begiven to the policyholders before any revision in thecharges. However

Maximum FMC on any fund will be up to1.35% p.a. The policy administration charge will not exceed

Rs.80

per month per policy. The switching charge and charge for selecting STP

option can be increased up to Rs. 500 per transaction.

The premium rates for Reliance New Major Surgical Benefit Rider and Reliance New Critical Conditions (25) Rider may change after 3 years period

2] Reliance Imaan investment Basic Plan – Reliance life insurance Policies

Reliance Imaan Investment Basic Plan gives you just that…ample freedom!And we make this freedom more enjoyable by giving you a sense ofsecurity. Whether it's your insurance or investments, we let you make thechoice and leave the rest to us. So allow us to take over and restassured, because for us your LIFE comes FIRST always.We present a plan that promises what you deserve as you reach greaterheights in life. For the select few like you, RelianceImaan Investment Basic Plan is an enhanced Unit Linked plan addressingcomprehensive needs to strike that perfect balance of Protection andSavings as you grow in your career.

Key Features

Regular and limited premium paying options Unmatched flexibility through our "Exchange

Option" to move between Reliance suite of unit linked products

Liquidity in the form of partial withdrawal


The premium contributions made by you, net of PremiumAllocation Charges are invested in an unit linked fund,New Indian Traditional Fund and units are allocateddepending on the price of units for the fundThe Fund Value is the total value of units that you holdin the fund. The Mortality Charges and PolicyAdministration Charges are deducted throughcancellation of units whereas the Fund ManagementCharge is priced in the unit value.

Benefits

Life Cover Benefit:

Commencement of risk cover on the Life Assured willdepend on the age of the Life Assured on commencementof the policy.

If age of the Life Assured on commencement of thepolicy is less than 6 years last birthday, the risk coveron the life of the Life Assured will commence eitherone year from the date of commencement of thepolicy or from the policy anniversary falling on orimmediately after the sixth birthday of the LifeAssured whichever is later

If age of the Life Assured on commencement of thepolicy is equal to or more than 6 years last birthdaybut less than 12 years last birthday then the risk coveron the Life Assured will commence after one yearfrom the date of commencement of the policy.

If age of the Life Assured on commencement of thepolicy is equal to or greater than 12 years lastbirthday, the risk cover on the Life Assured willcommence immediately

Minimum and Maximum Sum Assured

Minimum sum Assured:The minimum sum assured is 5 times the amount of theannualized Premium.Maximum sum assured

Age at entry(last birthday) Maximum Sum Assured as multiples

of Annualized Premium





56 and above 5 times of Annualized Premium

Maturity Benefit:

On survival of the life assured to maturity, the FundValue relating to the basic policy and top-ups will be paid.The policy terminates on payment of maturity benefit.

a) Pay top-ups:

If you have received a bonus or some lump summoney you can use that as a top-up to increase theinvestments component in your Policy. Top-ups can

be accepted only where the due basic regular/limitedpremiums are paid up to date. The total top-uppremiums at any point in time will not exceed 25%of the total regular/limited premiums paid till thattime. The minimum top-up premium at any time isRs.2,500. Payment of top-ups would not result inincrease in sum assured.

b) Exchange option:

This option is available to for existing Reliance ImaanInvestment Basic Plan Policyholders after completionof three policy years from the date ofcommencement. Under this option, the policy holdercan transfer policy benefits (surrender, maturity etc.)either fully or partially to our any another planwherein this option is available. This option must beexercised at least 30 days before the receipt of benefitunder the policy. The terms and conditions asspecified in the opted policy document would applyto the policy holder opting for the 'Exchange Option'.

If a policyholder is opting for Reliance ImaanInvestment Basic Plan under exchange option, theallocation charge in year of exchange will be 5% ofthe annualized premium.

Regular allocation charges would apply to the balanceof the policy term.

If the exchange option is used to pay top ups inReliance Imaan Investment Basic plan, the allocationcharge in the year exchange will be 1% of the top up amount.

c) Partial Withdrawals:

You are allowed to make partial withdrawals after thecompletion of three policy anniversaries or onattainment of age 18 by the life assured whichever islater. There would be a 3-years lock-in period on thetop-ups for the purpose of partial withdrawals. Thelock-in on top-ups shall apply from the date ofpayment of each top-up. However, this condition will

not apply if top ups are paid during the last threeyears before the maturity.

All partial withdrawals made shall be allowed from

the top-up account as long as top-up accountsupports partial withdrawals (i.e. the total top-upbalance amount). Partial withdrawals with respect tobasic plan shall only be counted for the purpose ofadjusting the base sum assured to be payable ondeath as detailed below.

On a partial withdrawal while your age is less than 60years last birthday, the Sum Assured under the BasicPlan will be reduced by the amount of partialwithdrawals made in the preceding 24 months of thedate of partial withdrawal. On a partial withdrawalwhile your age is equal to or greater than 60 years lastbirthday, the Sum Assured under the Basic Plan willbe reduced by the amount of partial withdrawalsmade in the 24 months preceding the 60th birthdayof the policyholder and all partial withdrawals afterthe 60th birthday.

The minimum amount of partial withdrawal that canbe taken at any time is Rs. 5000 and the maximumpartial withdrawal amount should not exceed 20% ofthe fund value at the time of withdrawal.

However, at any point of time during the policy term,the minimum fund balance after the partialwithdrawal should be at least equal to 125% of theannualized premium.

Charges for partial withdrawal from the basic policyfund are mentioned below. No partial withdrawal

charge is applicable for withdrawal from top-ups fund.

Reliance Imaan Investment Basic Plan at-a-glance

Basic Plan Minimum Maximum

Age at entry 30 Days 65 Years last Birthday

Age at Maturity 15 Years Last Birthday 80 Years last Birthday

Policy Term 15 years 30 Years


You may make full surrender or partial withdrawal ofyour Policy at any time after three years fromcommencement of the policy. The surrender value orpartial withdrawal value will be available after this period.The surrender value or partial withdrawal value will befund value less surrender charge or partial withdrawalcharge as mentioned below under the section on Chargesunder the policy.For top ups, the surrender value and partial withdrawalvalue will be payable on completion of three years fromthe date of payment of top up. This restriction of threeyear lock in period is not applicable in respect of top upspaid during the last three years of the policy. Thesurrender charge or partial withdrawal charge is notapplicable on top-up. The surrender value and partialwithdrawal value is therefore equal to the fund valueunder the top-ups.Whenever the Basic Plan is surrendered in full, thesurrender value of any attaching top up will also be paideven if a period of three years has not elapsed from thedate of payment of top up.


There is a grace period of 30 days from the due date forpayment of regular/limited premiums. In case of monthlymode, the grace period is of 15 days. A policy lapses ifpremiums are not paid within the days of grace.

What happens if I discontinue paying premiums?

I) Within three years of the inception of the policy: Ifthe due premiums have not been paid for at leastthree consecutive years the insurance cover will ceaseimmediately. However, you will continue toparticipate in the performance of unit funds chosenby you. The monthly administration charges will bededucted from your account by cancellation of unitsand the fund management charge will be priced inthe unit value. In case of death of Life Assured beforethe policy is revived, the Fund value will be paid tothe nominee.

You may revive the policy by recommencing thepayment of premium within a period of two yearsfrom the due date of first unpaid premium or beforethe maturity date of the policy whichever is earlier

In case the contract is not revived during revivalperiod, the contract shall be terminated and thesurrender value, if any, shall be paid the end of theperiod allowed for revival.II) After paying of at least 3 full years' premiums: Ifdue premiums have been paid for at least threeconsecutive years and subsequent premiums areunpaid, the policy will remains in force with sumassured intact. The mortality and administrationcharges will be deducted from your account bycancellation of units. The fund management chargewill be priced in the unit value. You will continue toparticipate in the performance of the unit fundschosen by you.

You may revive the policy by recommencing thepayment of premium within a period of two yearsfrom the due date of first unpaid premium or beforethe maturity date of the policy whichever is earlier. ,If the policy is not revived at the end of the allowedperiod for revival, the policy shall be terminated bypaying the surrender value.

However, you may opt to continue the policy evenbeyond the revival period (but not beyond the

maturity date of the policy). The mortality andadministration charges will be deducted from youraccount by canceling the units. You will continue toparticipate in the performance of the unit fundschosen by you.

This option will be available until the fund value doesnot fall below an amount equivalent to one full year'spremium plus the surrender charge, if any.

If at any point of time, the fund value reaches anamount equivalent to one full year's premium plussurrender charge, if any, the policy will be terminatedby paying the one annualized premium. In case oflimited premium policies, annualized premium forthis purpose will be defined as installment premiumfor one year multiplied by premium payment termand divided by policy term.


There is a grace period of 30 days from the due date forpayment of regular/limited premiums. In case of monthlymode, the grace period is of 15 days. A policy lapses ifpremiums are not paid within the days of grace.

Tax Benefit

As per current tax rules premiums paid are eligible for taxdeduction under Section 80C of the Income Tax Act,1961. Provided the premium in any year during the termof the Policy does not exceed 20% of the Sum Assured,maturity and withdrawals are eligible for tax benefitunder Section 10(10D). Death benefits are tax free underSection 10(10) D of the Income Tax Act, 1961. UnderSection 80C premiums up to Rs 100,000 are allowed asdeduction from your taxable income.Service tax and education cess will be charged extra as perapplicable rates.Please note that all benefits payable under the policy aresubject to tax laws and other financial enactments as theymay exist from time to time. You are recommended toconsult your tax advisor.

General Exclusion

If the Life Assured, whether sane or insane, commitssuicide within 12 months from the date of issue of thisPolicy or the date of any revival of a Policy, the Companywill limit the death benefit to the Fund value and will notpay any insured benefit.


In case the Policyholder disagrees with any of the termsand conditions of the policy, he/she may return the policyto the Company within 15 days of its receipt forcancellation, stating his/her objections in which case thecompany will refund an amount equal to the nonallocated premium plus the charges levied by cancellationof units plus fund value at the date of cancellation, less theproportionate premium for the period the company hasbeen on risk and the expenses incurred by the company onmedical examination and stamp duty charges.

3] Reliance Life Secure Child Basic Plan - Child Life Insurance,Saving & Protection plan in India.

Key Features

Insurance cover on the life of childMoney at critical milestones in your child's careerpath - college education, higher education, marriageYou child is completely protected - we will continueto pay the premiums even if you are not aliveLife time income to child in the event of disabilityReturn Shield option to protect your investment returnsLiquidity in the form of partial withdrawalsGuarantee of 95% of the regular premium paidavailable on maturity and on death of the child underRegular Premium basic policy.Option to package with Reliance New Major SurgicalBenefit Rider, Reliance New Critical Conditions (25)Rider, Reliance Term Life Insurance Benefit Rider,Reliance Accidental Death and Total and PermanentDisablement Rider.Guaranteed addition of 1% of the premiums paidunder basic plan and top ups


This is a nonprofit unit linked endowment plan wherethe life insured is the child with premium waiver benefiton death of the parent (father or mother). The premiumcontributed by you net of Premium Allocation Charges isinvested in fund option of your choice for a specifiedperiod of time as selected by you and units are allocateddepending on the price of units for the fund/funds. TheFund Value is the total value of units that you hold in the

fund/funds.The sum assured under the policy is fixed on the basis ofthe selected annual premium and policy term.

Benefits

Guarantee under the Regular premium base Policy onmaturity of the policy:

95% of total Premiums paid under the Regular premiumbasic policy (excluding extra or additional premiums) areguaranteed on maturity of the policy provided no partialwithdrawal was made from the basic plan exceptredemption of points from e-Account for availing of servicesof web based community and that New Equity Fund, NewMid-Cap Fund, New Infrastructure Fund, New Energy Fundand New Pure Equity fund was not selected at any time andthat the policy was in full force on the date of maturity.

Commencement of risk cover: Commencement ofrisk cover on the life of child will depend on the ageof the child on commencement of the policy.

If age of the child on commencement of the policy isless than 6 years last birthday, the risk cover on thelife of the child will commence either one year fromthe date of commencement of the policy or from thepolicy anniversary falling on or immediately after thesixth birthday of the child whichever is later

If age of the child on commencement of the policy isequal to or more than 6 years last birthday but lessthan 12 years last birthday then the risk cover on thelife of child will commence one year after from thedate of commencement of the policy.

If age of the child on commencement of the policy isequal to or greater than 12 years last birthday, therisk cover on the life of child will commenceimmediately.

Life Cover Benefit:

The amount of death benefit depends on whether thedeath of the child occurs before or after commencementof risk cover.

A. Death of Child

Case 1: If death of the child occurs aftercommencement of risk cover, the death benefit will bea) If mode of premium payment is Regular, Maximum ofi) Sum assured

ii) Fund value (including fund value underReturn Shield Fund and e-Account) as on thedate of intimation of death relating to thebasic policy

iii) 95% of total Regular Premiums paid underthe Regular premium basic Policy less extraor additional premiums if any provided nopartial withdrawals were made any fundexcept redemption of points from e-Accountfor availing of services of web basedcommunity and that the New Equity Fund,New Mid-Cap Fund, New InfrastructureFund, New Energy Fund and New PureEquity fund was not selected at any timeduring the policy term.

Fund Value ( including fund value underNew Return Shield Fund and e - Account)under top-ups (if any), as on the date ofintimation of death.

B. If the mode of premium payment is Limited or

SingleMaximum ofi) Sum assured

ii) Total Fund value (including fund valueunder New Return Shield Fund and e-Account) under Basic Plan as on the date ofintimation of deathPlusFund Value (including fund value under NewReturn Shield Fund and e- Account) undertop-ups (if any), as on the date of intimationof death

Case 2: If death of the child occurs beforecommencement of risk cover, the death benefitwill beFund value (including fund value under NewReturn Shield Fund and e - Account) as on thedate of intimation of death relating to the basicpolicy

Fund Value (including fund value under NewReturn Shield Fund and e - Account) under top upcontributions (if any), as on the date ofintimation of death,Both under Case 1 and Case 2, the claim amountis payable to the parent or, to the child's estate,in case the parent had pre-deceased the child.The policy terminates on payment of the deathbenefit for the child.

C. Death of the Parent:

In the event of the death of the parent provided thepolicy is in full force all future premiums are waivedthereafter for the remaining policy term. The policycontinues and the Company will continue to pay theoriginal premiums as chosen by the policyholder ondue dates.

D. Total & permanent disability of the child:

If the child who gets totally & permanently disabledas a result of an accident during the policy term ,after commencement of the risk cover, fixed incomeat a rate of 10% of the sum assured under the policy,per annum will be paid to the child throughouthis/her life. The policy contract will continue with allother benefits.''total and permanent disablement'' means that thelife assured has solely and directly as a result of anaccident caused by outward, violent and visiblemeans suffered for at least six months from any ofthe disability as follows:Total and irrecoverable loss of the sight of botheyes, orLoss by severance of two limbs at or above wristor ankle, orTotal and irrecoverable loss of the sight of oneeye and loss by severance of one limb at or abovewrist or ankle, and totally and permanentlydisabled has a corresponding meaning.

D. Maturity Benefit:

Payable on survival of the child up to the end of thepolicy term, provided the policy is in full force.

I) If the mode of premium payment is Regular,Maximum of

i) Fund value (including fund value under NewReturn Shield Fund and e-point Account) ason the date maturity relating to the basicpolicy.

ii) 95% of total Regular Premiums paid underthe Regular Premium basic Policy less extraor additional premiums if any provided nopartial withdrawals were from any fundexcept redemption of points from e-Accountfor availing of services of web based

community and that New Equity, New Mid-Cap, New Infrastructure, Ne w Energy andNew Pure Equity fund was not selected atany time during the policy term.

iii) Fund Value (including fund value under NewReturn Shield Fund and e - point Account)under top-up contributions (if any), as onthe date of maturity.

II) If the mode of premium payment isLimited or Single,Fund value (including fund value under NewReturn Shield Fund and e-Account) as on thedate of maturity relating to the basic policy

Fund Value (including fund value under newReturn Shield Fund and e- Account) undertop-ups (if any), as on the date of maturity

Sum Assured:

The sum assured under the policy is fixed under regular &limited premium payment policies. The fixed sum assuredis annualized premium multiplied by half the policy termFor single premium payment option, the minimum sumassured is 110% of the single premium amount and themaximum sum assured is 5 times the single premium paid.

Rider Benefits:

The following optional riders are available under regularpremium policies at any time during the policy term onthe life of Child after attainment of age 18. The rider isavailable on payment of additional premium over andabove the base premium provided conditions on riders(entry age, policy term, sum assured) are satisfied. Theserider benefits can be selected on commencement of thepolicy or on any policy anniversary during a policy term.The sum of rider premiums should not exceed 30% of thepremiums paid under base Plan. The maximum sumassured under riders will be equal to the sum assured

under base plan.When the base plan terminates, all the rider benefitsattaching to the base plan will also terminate.

Discontinuance of premium:

(excluding death of the parent when waiver of premium is in operation)On discontinuance of premium (Excluding death ofthe Parent when the waiver of premium is in operationand the Company is paying the premium in to thepolicy),), there cannot be any transfers from thepremium income to the e-Account. The GuaranteedAddition contribution from the shareholder willimmediately terminate. However, the existing balancein the e-Account will remain intact and will beincreased or decreased on account of movements inthe unit values. The policyholder will not be able topurchase goods and services while the policy is inpremium discontinuance mode (except when waiverof premium is in operation). The existing balance in eAccount will be available to the policyholder alongwith the final claim (i.e. death of the child, maturity ofthe policy or surrender of the policy).Should the policyholder restart payment of premiums?the Guaranteed Additions and the transfer frompremium income to e account will restart.e-Account transfers will continue even after Death ofthe parent and when the policy is in waiver ofpremium mode and is receiving premium from the

Company.

b) Partial Withdrawals

. You can make partial withdrawals after three yearsfrom the date of commencement, of the policy or onattainment of age 18 by the child whichever is later.Partial withdrawals can be made from all the fundsexcept the e - Account. However during the tenure ofthe policy, redemption of points from e-Account foravailing the services of web based community is

allowed.If the partial withdrawal is made from a fund, theguarantee of 95% of the regular premium paid underthe Regular Premium basic policy (if any) on death ofthe child and on maturity of the policy will ceaseimmediately.The partial withdrawals will not affect the risk cover.The minimum amount of partial withdrawal is Rs.5000 and the maximum partial withdrawal amountshould not exceed 20% of the fund value at the timeof withdrawal.However, at any point of time during the policy term,the minimum fund balance after the partialwithdrawal should be at least equal to 125% of theannualized premium/ 50% of the Single Premium

The partial withdrawal charges are stated below:

Year of PartialWithdrawal

Partial WithdrawalCharge as % of Fundbeing withdrawnunder regularpremium policies

Partial Withdrawalcharge as % of Fundbeing withdrawnunder singlepremium policies

1 to 3 years Partial withdrawal Not payable

Partial withdrawalnot payable

4th year 20 % Nil

5th year 10% Nil

6th year onward Nil Nil

d) Pay top-ups:

If you have received a bonus or some lump summoney you can use that as a top-up to increase the

investments component in your Policy. Top-ups areallowed only if all basic premiums due till date arepaid. At any time, the maximum amount of all top-uppremiums allowed is restricted to 25% of the totalbasic regular/limited/single premium paid till date. Theminimum top-up premium amount is Rs. 2,500.Guarantee of 95% of the regular premium paid will notbe available for Top ups paid under Single Premium,Regular Premium and Limited Premium policies.

D) Convenient Premium paying options

You can pay the regular/Limited/ premium in yearly,half yearly, quarterly and monthly mode and pay bycash, cheque, debit/credit card, ECS & direct debit.You can also pay single premium only.The minimum regular premium is Rs.20,000 foryearly mode, Rs.10,000 for half-yearly mode, Rs.5,000 for quarterly mode and Rs.2,000 for monthlymode. The minimum limited premium is Rs 25,000for yearly mode, Rs 12,500 for half-yearly mode, Rs6,250 for quarterly mode and Rs 2,500 for monthlymode. The minimum single premium is Rs50, 000.The minimum top-up premium is Rs 2,500.

E) Settlement Option

You have the option to take the maturity proceeds inperiodic installments within a maximum of 5 yearsfrom the date of maturity. You have to give a noticeto the insurer at least 30 days before the maturitydate. The periodic installment could be in any formincluding lump sum or infrequent withdrawals asrequested by policyholder.During this period, there will be no life cover. Thepolicy will participate in the performance of units.The Company will however continue to deductadministration charges by cancellation of units.The fund management charge will be priced in theunit value.In the event of death of the child during settlement

period the fund value as on the date of intimation atthe office will be paid to the policyholder.During the settlement period, the investments made inthe unit funds are subject to investment risksassociated with capital markets and the NAVs of theunits may go up or down based on the performance ofthe fund and the factors influencing the capital market.The investment risk during the settlement period willbe borne by the policyholder.If settlement option is selected, then on maturity ofthe policy, the total fund balance would beautomatically moved into New Fund G, the only fundoption available during the settlement period.For selecting the settlement option, the policyholdershould inform to the Company one month before thedate of maturity.

Reliance Secure Child Basic Plan at a glance:

Base Plan Minimum Maximum

Age at the entry of the child

30 Days 15 Years last birthday

Age at entry of the parents

21 years last birth day 50 Years last birth day

Age at the Maturity of the of the parent

31 Years last birth day 70 years last birth day

Policy Term 15 years 25 years


Surrender Value will be acquired immediately onpayment of the first premium and you may surrender thepolicy anytime during the policy term.If the policyholder surrenders the policy within three policy

anniversary, the insurance cover and rider benefits, if anywill cease immediately. The fund value under the basic plan

and Top ups after deduction of surrender charges, if anywill be kept in a suspense account and will not participatein the performance of unit funds. This amount will be paidonly after the completion of three policy anniversaries.If the policyholder surrenders the policy after thecompletion of three policy anniversaries, the surrendervalue will be paid immediately.Whenever full surrender value of basic plan is paid, thesurrender value of any attaching top ups will also be paid.


Within 3 years of the inception of the policy:If premiums have not been paid for at least threeconsecutive years from the inception, the insuranceand disability cover on the life of child, premiumwaiver benefit on the life of parent and guaranteeof 95% of the regular premium paid under RegularPremium policy, if any will cease immediately. Therider benefits (on the lives of child if any will alsocease immediately.However, the policyholder will continue toparticipate in the performance of unit funds. Themonthly administration charges will be deductedfrom the Fund Value by cancellation of units. Thefund management charge will be priced in the unitvalue.Anytime during this period, should the child/parentdie, the fund value under the basic plan and thefund value under the top ups if any will be paid.The policyholder may revive the policy by payingarrears of premium and re-commencing thepremium payment within a period of two yearsfrom the due date of first unpaid premium butbefore the date of maturity of the policy. Otherconditions for revival are stated below.In the event the policy is not revived within twoyears, the policy shall be terminated at the end ofthe period allowed for revival and the surrender

value, if any, will be paid at the end of the periodallowed for revival or at the end of the 3rd policyanniversary whichever is later.If at any point of time, the fund value is less thanthe mortality charge for the child and parent ,disability charge for the child and policyadministration charge for the next month, thepolicy will be foreclosed by paying the fund value


There is a grace period of 30 days from the due date forpayment of regular premiums. In case of monthly mode,the grace period is of 15 days. A policy lapses if premiumsare not paid within the days of grace.

Exchange Option:This option is available for existing policyholders aftercompletion of three policy years from the date ofcommencement. Under this option, the policy holder cantransfer policy benefits (surrender, maturity etc.) toanother plan wherein exchange option is available. Thisoption must be exercised at least 30 days before the dateof the receipt of benefit under the policy. The terms andconditions as specified in the opted policy documentwould apply to the policy holder opting for the 'ExchangOption'. The new plan will be offered on the life of thepolicyholder.If a policyholder is opting for transfers from other policiesto Reliance Life Secure Child Basic Plan Regular PremiumOption under exchange option, the allocation charge inyear of exchange will be reduced. The reduced allocationcharges applicable in the year of exchange are stated below:8% of the annualized premium applicable in the year ofexchange. For the second and subsequent policy years,the allocation charges mentioned earlier will apply.If the exchange option is used to pay top ups in theReliance Life Secure Child Basic Plan, or to pay Singlepremium under Reliance Life Secure Child Basic Plan, theallocation charge in the year exchange will be 1% of thetop up or single premium amount.

Tax Benefit

As per current tax rules premiums paid are eligible for taxdeduction under Section 80C of the Income Tax Act,1961. Provided the premium in any years during the termof the Policy does not exceed 20% of the Sum Assured,maturity and withdrawals are eligible for tax benefitunder Section 10(10D). Death benefit are tax free underSection 10(10) D of the Income Tax Act, 1961. UnderSection 80C premiums up to Rs. 100,000 are allowed asdeduction from your taxable income.Service tax and education cess will be charged extra as perapplicable rates.Please note that all benefits payable under the policy aresubject to tax laws and other financial enactments as theymay exist from time to time. You are recommended toconsult your tax advisor.

General Exclusion

If the life assured (child) commits suicide within 12months from the date of commencement of risk or dateof revival of this policy, whether sane or insane at thattime, we will limit the death benefit to the fund valueand will not pay any insured benefit. The guarantee of95% of the regular premium paid under the RegularPremium basic policy will not be available.If the proposer (parent) commits suicide within 12months from the date of commencement of risk or dateof revival of this policy, whether sane or insane at thattime, the premium waiver benefit will not be available.


In Case the Policy Holder disagrees with any of the termsand conditions of the policy, he may return the policy tothe Company within 15 days of its receipt forcancellation, stating his/her objections in which case thecompany will refund an amount equal to the nonallocated premium Plus the charges levied byCancellation of units plus fund value as on the date ofreceipt of the request in writing for cancellation , less theproportionate premium for the period the company hasbeen on risk and the expenses incurred by the companyon medical examination and stamp duty charges.

RESEARCH DESIGN

Identify the Problem“To study the market segmentation, promotion & placement of RCS

financial products in pune market”

Designing of Research ProcedureProcedure employed for survey is on random basis.

Areas to be covered were decided and the respondents were contacted directly.

Expectations and views were noted as the respondents fill end in their response sheets.

Defining Methods of Data Collection

Primary DataSecondary Data

Questionnaire Prepared Collection of Data from websites, manuals and company records

Analyzing and tabulating the Data1. For analyzing of Data, statistical tools such as weighted average

method and percentage analysis were used2. Also, Data was tabulated with the help of Bar charts and Pie diagrams.

Suggestions

1. Should increase the awareness of RCS products through advertising in various media.

2. The margin for the products should be increased so that more number of customers will have RCS

products.

A

Interpretation of Data

A

Findings

GRAPHICAL REPRESENTATION OF DATA

The data is obtained by administering the questionnaire to the selected people and the results are calculated on the basis of the data thus collected.The data is supported by graphs and charts for easy understanding.

RELIANCE COMPANY PRODUCT

Child Basic Plan

Imaan Investment Basic Plan

Traditional Super Invest Assure Plan

RELIANCE CAPITAL SERVICE PRODUCTS

73%

17%

10%TRADITIONAL PLANCHILD PLANIMAAN PLAN

MARKET SHARES OF THE PRODUCTS

RELIANCE CAPITAL SERVICE PRODUCTS

PRODUTS NAME MARKET SHARE

TRADITIONAL SUPER INVEST ASSURE PLAN73 %

CHLID SECURE BASIC PLAN17 %

IMAAN INVESTMENT BASIC PLAN10 %

RELIANCE PRODUCTS GROWTH RATE IN PUNE REGION

PRODUTS NAME GROWTH

TRADITIONAL SUPER INVEST ASSURE PLAN8 %

CHLID SECURE BASIC PLAN5.86%

IMAAN INVESTMENT BASIC PLAN4 %

Traditional plan Child Plan Imaan Plan0%

1%

2%

3%

4%

5%

6%

7%

8%

Traditional plan; 8.00%

Child Plan; 5.86%

Imaan Plan; 4.00%Series1

RELIANCE PRODUCT SALE IN PUNE REGION

OBSERVATIONS AND FINDINGS

1. Use due care and diligence in performing their duties of office and in exercising their powers attached to that office

2. Act honestly and use their powers of office, in good faith and in the best interests of Reliance Capital as a whole

3. Not make improper use of information nor take improper advantage of their position as a Director

4. Not allow personal interests to conflict with the interests of Reliance Capital

5. Not engage in conduct likely to bring discredit upon Reliance Capital

6. Be independent in judgment and actions, and to take all reasonable steps to be satisfied as to the soundness of all decisions taken by the Board of Directors

7. Ensure the confidentiality of information they receive whilst being in office of Director and is only disclosed if authorized by the company, or the person from whom the information is provided, or as required by law

Besides, the Code of Ethics, all Business Policies of Reliance Capital apply to Directors holding executive positions and executives in senior management

Guidelines for Company for Risk Management-

Risk Management philosophy is to adopt an independent holistic approach to manage uncertainties from all quarters that is "enterprise-wide risk management".

Three critical elements on which the enterprise risk management framework is build; creating a clear direct line of sight from risk management to investor's value; implementing a process to protect investor's value; and building the organizational capability to ensure strategic risk management.

This ensures that risk management complements business objectives and strategies. The function assists in structuring technology, processes and assets in an advantageous manner, and the architecture so formed, is capable of tackling

disruptions in the operational universe. It ensures that business development at all times is within parameters and regulations.

SUGGESTIONS

It is said that the ‘line to perfection never exists’, in a way it suggests that continues improvement and development is essential to at least near to the ‘Perfection’.To help a plant grow it must be suitably watered, sunlight and soil, which best suit its kind, similarly the organization too, to see that its efforts get results, must provide with proper attention for the development of the company.

After analyzing the data collected during the survey, following improvements can be made in future.

1. Replacement facility should be made available for all the products.

2. Promotional activities like, Wall paintings, Flex boards should make available for more product awareness.

3. Efficient distribution must be followed.

4. Promotional activities should be undertaken.

5. To create awareness for the products, different modes of publicities should be used such as Neon sign, Hoardings, Danglers.

6. Company should offer some attractive commissions for generatingRegular supply of reliance insurance products to the agent working

for the company.

Limitations

1. The search size was too small when we take the universe into the consideration, which is very big.

2. The survey was done in a part of Pune city hence if generalizations are to be made for whole city, some deviations might occur.

3. Though the data is collected in a best possible way but still in no way the above figures depict the performance of the company.

4. The search was done on random basis and taken from few selected areas that are supposed to represent the whole population. Hence some deviations might be there when the same is applied to the whole universe.

5. Customers did not provide their real income level for the study.

6. Customers are scattered all over Pune city and it’s very difficult to locate and contact each of them.

7. There are many people who are not ready to fill up the questionnaire.

8. Feedback may not be very reliable owing to difference in opinion.

9. As there are many products available other than Reliance insurance products customers are less attracted.

10. It is very difficult to convey customers for buying products as they are Much interested in profit.

QUESTIONNAIRE

1] Where it’s Location

2] When its Establish in the Market

3] Do you Interested to Invest money in Reliance Capital Services for Life Insurance?

4] At what time is demand of RCS financial Product more?

1) Festival 2) Holiday 3) School open

5] Which age group people buy the Product more?

1) 4-10 yrs 2) 11-25 yrs 3) 25-50yrs 4) Above 50yrs

6] Do you Invest money in Reliance Traditional Plan?

7] What are the rules and condition for?

1) Traditional Plan 2) Children Plan 3) Imaan Plan

8] What is the Minimum and Maximum Premium Of life insurance?

9] What is the Age Condition for paying premium of Insurance?

10] What is the period of Year for Investment of Money In insurance?

11] Any partial Withdrawal System available?

12] How Much tax we can save?

13] How Much Percentage we can Get after completion of Maturity period?

14] What Happen if discontinue the policy?

15] What happen if stop the paying premium?

16] What are the extra Benefits of the products?

CONCLUSIONReliance Life Insurance:

Company Limited is a part of Reliance Capital Ltd. of the Reliance - Anil Dhirubhai Ambani Group. Reliance Life Insurance is another step forward for Reliance Capital Limited to offer need based Life Insurance solutions to individuals and Corporate.

Reliance Capital Ltd. is one of India’s leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital Ltd. has interests in asset management, life and general insurance, private equity and proprietary investments, stock broking and other financial services.

We believe that you are the force behind the company. And with your growth will come the drive that can take this company to higher and stronger levels. Creating a huge wave of satisfaction, not only for our customers and us, but for your career as well.

Whatever your career goal, Reliance Life Insurance is a company big enough for your dreams. We, along with the other businesses of Reliance Capital, enjoy a strong position in the financial services category. And this may be the place where you can have the career you always wanted.We endeavor to be unique in creating an environment that makes pitting your skills against the world a challenging, stimulating and energizing experience. Here, we believe that bigger the challenges that we set for ourselves, the higher they will take us. And finding resonance with this credo is our ever-increasing workforce.

Opportunities for lateral growth within the companyPerformance management system based on the balanced scorecard modelExposure to extensive learning and developmental initiatives (that includes

a state of the art e-learning platform and strategic partnerships with international leaders for special developmental programs) Annual awards in recognition of exemplary performanceA stimulating and high energy environment with regular interactive, fun

events and challenging contests

BIBLOGRAPHY

Books referred:

1. Marketing management ------------- Philip Kotler,Millennium Edition (1998)Prentice Hall Publication, INDF,New Delhi – 110001

2. Research Methodology -------------- C. R Kothari,Second Edition,Twenty First Re-print, 1998Wishwa Prakashan,New Delhi.

3. Marketing research ------------------ David Lucky and Ronald RubinPrentice Hall of India Private Ltd;1997(Ninth Edition)

4. Information supplied by the company. (Company manuals & files)

5. Websites ----------------------------- www.reliancelife.com www.reliancecapitalservices.in

www.google.com

http://www.google.com/

http://www.reliancelife.com/

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