Life Insurance Awareness
Pro gramme
INSURANCE IS SHIELD TO EVERYBODY BEYOND LIFE
Pro gramme
INSURANCE IS SHIELD TO EVERYBODY BEYOND LIFE
1).When you think of insurance,immediately LIC comes to your mind.
2).According to the survey conducted by Indian govt.till 1994 only 3%to 4% of the total population was covered under insurance.
3).In developed countries 80% to 98% of the people were insured for the whole body,apart from this they have also insured separately for each part of their body,this is because of many insurance companies are working.
4.)Our Indian govt.also thought of covering 100% people under Insurance.
5.)For 100% insurance coverage LIC may not be sufficient or it may take a long time.so our govt.invited experienced insurance companies from developed countries.
6.)About 13 insurance companies have agreed to work in collaboration of reputed Indian companies under Insurance Regulatory and Development Authority(IRDA).
7).IRDA regulates all insurance companies including LIC,as RBI-regulates all Banks,TRAI-regulates all Telephone companies.
8).IRDA has given guide lines to multi national Insurance companies to have a tie-up with the Indian companies which are having minimum five years market experience and rupees 1000 crore turnover.
Examples of some companies collaborated and working under IRDA regulations.
Indian + Multinational working as
1.)TATA + AIG TATA-AIG.
2.)BIRLA + SUNLIFE BIRLA-SUNLIFE.
3.)ICICI + PRUDENTIAL ICICI-PRUDENTIAL.
4.)BAJAJ + ALLIANZ BAJAJ-ALLIANZ.
ABOUT BAJAJ.
This company is house hold name in India which has turnover of Rs.8000 crs and is having 55 years of Business Experiences.It is the fourth largest company in the world to manufacture 2 and 3 wheeler Vehicles.
ABOUT ALLIANZ
It is a Germany Insurance company with 118 years of financial Experience.It does business in about 70 countries.It has an overall asset of around Rs.58,92,000 vrs.It also manufactures house hold goods in Germany.Allianz insures biggest assests lie 7 Wonders of the world etc.
Ex:world Trade Center in U.S.A cliam was cleared in 14 days .
>The Bajaj Allianz started Insurance business in India from 2000-01.
ABOUT TLC.
>Team Life care(TLC) company started as a small corporate agent to Bajaj Allianz in the year 2002 at SALEM in Tamil NADU,by three MBA Graduates.
>In the year 2004 TLC started as Referral Marketing.
>The TLC head office is at Banglore with 36 Branches in INdia and abroad(4 Brances in ANDHRA PRADESH) having 15 lakhs policy holders through it.
>You take a Bajaj Allianz policy through TLC,and refer a friend or relative to TLC and if they take a policy you will be the sharing the agents commission.(It is referral but not Multilevel Marketing).
>Through this method TLC brought business and grown as follows:
2004-2005 Financial Year-Rs 25 lakhs premium as a Corporate Agent
2005-2006 Financial Year-Rs 75 lakhs Premium as a Strategic Partner
2006-2007 Financial Year-Rs 151 crores Premium as a Channel Partner
2007-2008 Financial Year-Rs 510 crores Premium as a Patient
Now TLC has become the No.1 channel partner of Bajaj Allianz.
2008-2009 Financial year-TLC is Aiming for a target of Rs.1500 crores(premium).
NEW FAMILY ASSURE(N.F.A) (a Bajaj Allianz Policy)
> Anybody within the age of 0-60 years can take this policy and pay installments for minimum 3 years,maximum no limit.As per the age,the insurance coverage will be provided.
>Policy Details:- Half Yearly Premium- Rs 5000/- upto 3years minimum.
>Yearly premium -Rs 5600/-,Rs 10000/-,Rs 12500/-,Rs 25000/-,Rs 50000/-,Rs 1,00,000/- policy can be taken depending upon our Interest.
**As an Example for:Half year term policy.we pay Rs 5000 * 2 for 3 years is Rs 30000.(i.e 6 Premiums).
**We get 6% to 10% interest(As per IRDA Rules).For the last 4 years we are getting 18% interest.
