“STUDY OF LIFE INSURANCE WITH REFERENCE

TO HDFC LIFE”

BACHELOR OF MANAGEMENT STUDIES

SEMESTER VI

(2023-2024)

SUBMITTED BY

KHAN AMREEN NAZAR

SEAT NO.

K. M. E. SOCIETY’S

G. M. MOMIN WOMEN’S COLLEGE

RAIS HIGH SCHOOL CAMPUS, THANA ROAD

BHIWANDI 421302, DIST THANA, MAHARASHTRA

“STUDY OF LIFE INSURANCE WITH REFERENCE
TO HDFC LIFE”

BACHELOR OF M ANAGEMENT STUDIES

SEMESTER VI

(2023-2024)

SUBMITTED

IN PARTIAL FULFILLMENT OF THE REQUIRMENTS.

FOR THE AWARD OF DEGREE OF

BACHELOR OF MANAGEMENT STUDIES.

By

KHAN AMREEN NAZAR

SEAT NO.

K. M. E. SOCIETY’S

G. M. MOMIN WOMEN’S COLLEGE

RAIS HIGH SCHOOL CAMPUS, THANA ROAD

BHIWANDI 421302, DIST THANA, MAHARASHTRA.

 DECLARATION
I, KHAN AMREEN NAZAR, the student of T.Y.B.M.S VI (2023-2024) Hereby
declare that I have completed the project on “STUDY OF LIFE INSURANCE WITH
REFERENCE TO HDFC LIFE’

The information submitted is true and original to the best of my knowledge.

(Signature of student)

KHAN AMREEN NAZAR

Seat Number._

K. M. E. SOCIETY’S

G..M. Momin Women’s College

Rais High School Campus, Thane Road,

Bhiwandi 421302, Dist. Thane, Maharashtra.

 ACKNOWLEDGMEN
To list who helped me is difficult because they are so numerous and depths is so
enormous.

I would like to acknowledge the following as the being idealistic channels and fresh
Dimensions in the completion of this project.

I take this opportunity to thank the University of Mumbai for giving me chance to do
this project.

I would like to thank my principal, Dr.Tabassum Sheikh for providing the necessary
facilities required for completion of this project.

I take this opportunity to thank our Head of Department, Mr. Tausif Dhole (Asst.
Professor), for his moral support and guidance.

I would also like to express my sincere gratitude towards my project guide Ms. Naba
shaikh (Asst. Professor) whose guidance and care made the project successful.

I would like to thank my College Library, for providing various reference books and
magazines related to my project.

Lastly, I would like to thank each and every person who directly and indirectly Helped
me in the completion of the project especially my Parents and peers who supported me
throughout my project.
 TABLE OF
Chapte Name of the Topic Pgno.
r No.
01 INTRODUCTION 1-3
 Background of the study 1

 Objectives of the study 2

 Scope of the study 3

02 INDUSTRIAL PROFILE 4-9

 History of Indian insurance industry 4

 Major Player in insurance industry in India 7

03 COMPANY PROFILE 10-12

 About HDFC life 10

 SWOT Analysis of life insurance 11

04 THEORETICAL BACKGROUND 13-53

 Insurance 13

 Definition 14

 Marketing of insurance in India 15

 Understanding marketing mix 17

 Insurance regulatory and development 19

 Types of life insurance 21

 Importance of life Insurance 24

 When need of life Insurance 27

 When don’t need of life Insurance 28

 Future of life Insurance 29

 Benefit of life insurance 33

 Advantages of life insurance 34

 TABLE OF
 Disadvantages of life insurance 36

 Claims settlement procedure 38

 Types of life Insurance claim 40

 Procedure for the life insurance contract 43

 Fundamental principal of life insurance 44

 Types of life insurance policies 48

05 RESEARCH METHODOLOGY 54

06 QUESTIONNAIRE AND RESPONSES 56

07 FINDINGS 60

08 CONCLUSION 63

09 ANNEXURE 64-67

 Questionnaire 64

 Bibliography 67