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Project title
Project report submitted in the partial fulfillment of the requirement for the
Award of the degree of
MASTER OF BUSINESS ADMINISTRATION
Of
Sharda University
Greater noida
By
Aanchal Goyal
8447343131

ACKNOWLEDGMENT
I am the student of Sharda university under the M.B.A is highly thankful to
our respected --------------(Project Guided). Because due to these respected
persons I am able to choose this Research Project. And now I am presenting
the project report. Actually I have no words to explain my pleasure on the
completion of this project. It was not an easy matter for me to complete this
project.
In addition to this, I would like to thank all my respondents, who has spent
their valuable time with me and help me in getting the requested information
for this project.
I would also offer my gratitude to my parents and friends for their help. Last
but not the least I am indebted to Almighty without whose blessings and
grace this project would not have reached where it is now.

Declaration

I name of the student, herby declare that the research project entitled
recruitment and selection and insurance policy has been prepared by me as
part of the requirement of the master of business administration Program of
Sharda university Greater Noida .this is my original work and up to the Best
of my knowledge.
I further declare that this project has not been submitted earlier to any other
university or institute for the award of any degree of diploma

EXECUTIVE SUMMARY
SBI life insurance is India's premier insurance enabling company. sbi Life
insurance is the one-stop-shop for requirements of services in the areas of
insurance, optimum investment, financial coverage and losses, mortality
benefit, and health option etc. This is backed by sbi life insurance service
support infrastructure - the widest in the country
The objective of the project was to understand how financial consultant play
important role for insurance company like SBI LIFE. To understand the
process of Recruitment of finanical consult in sbi life and about the
mechanism of insurance policies.
The main objective of the project is to understand the recruitment and
selection of financial consultant more effectively and efficiently, because
financial consultant play most important role in business of insurance.
Market in Pune city was targeted. Various areas in city were selected. The
data gave knowledge about customer satisfaction, loyalty & their feel about
the sbi Life Insurance.
Recruitment was conducted using questionnaire. The information about
various attributes & factors was collected about the financial consultant. All
the data collected, primary data was filtered & analyzed, represented in the
form of graphs & charts. Secondary data was also used in report such as
company profile, on the basis of analysis of data, conclusions were drawn.
On the basis of findings & conclusions, suggestions were given.
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RECRUITMENT AND SELE CTION:


Recruitment is concerned with developing suitable techniques for attracting
more and more candidates. The aim of personnel planning is to determine
the needs for persons both in terms of number and type. For deciding about
the number both present and future requirements should be taken into
account. If there are expansion plans in near future then these requirements
should also be considered. Besides number, the type of persons needed is
also important. The educational and technical requirements to manage
various jobs should e properly analyzed so that right type of persons are
employed.
Recruitment is sometimes confused with employment. The two are not one
and the same. Recruitment is just one step in the process of employment.
Recruitment is a linkage activity bringing together those with jobs and those
seeking jobs. When more persons apply for jobs then there will be scope for
recruiting better persons.
DEFINITION :
Recruitment is the process of searching for prospective employees and
stimulatingand encouraging them to apply for jobs in an organization.

Recruitment is defined as, a process to discover the sources of manpower to


meet the requirements of the staffing schedule and to employ effective
measures for attracting that manpower in adequate numbers to facilitate

effective selection of an efficient workforce. Edwin B. Flippo defined


recruitment as the process of searching for prospective employees and
stimulating them to apply for jobs in the organization. Recruitment is a
linking function-joining together those with jobs to fill and those seeking
jobs. It is a joining process in that it tries to bring together job seekers and
employer with a view to encourage the former to apply for a job with the
latter
In order to attract people for the jobs, the organization must communicate
the position in such a way that job seekers respond. To be cost effective, the
recruitment process should attract qualified applicants and provide enough
information for unqualified persons to self-select themselves out.
Thus, the recruitment process begins when new recruits are sought and ends
when their applications are submitted. The result is a pool of applicants from
which new employees are selected
PURPOSES AND IMPORTANCE
The general purpose of recruitment is to provide a pool of potentially
qualified job candidates. Specifically, the purposes are to:

Determine the present and future requirements of the organization in


conjunction with its personnel-planning and job-analysis activities.

Increase the pool of job candidates at minimum cost.

Help increase the success rate of the selection process by reducing the
number of visibly, under qualified or overqualified job applicants.

Help reduce the probability that job applicants, once recruited and
selected, will leave the organization only after a short period of time.

Begin identifying and preparing potential job applicants who will be


appropriate candidates.

Induct outsiders with a new perspective to lead the company.

Infuse

Develop an organizational culture that attracts competent people to the

fresh

blood

at

all

levels

of

the

organization.

company.

Search or head hunt/head pouch people whose skills fit the companys

values.

Devise

methodologies

for

assessing

psychological

traits.

Search for talent globally and not just within the company.

Design entry pay that competes on quality but not on quantum.

Anticipate and find people for positions that do not exist yet.

Increase organizational and individual effectiveness in the short term


and long term.

Evaluate the effectiveness of various recruiting techniques and


sources for all types of job applicants.

Recruitment represents the first contact that a company makes with potential
employees. It is through recruitment that many individuals will come to
know a company, and eventually decide whether they wish to work for it. A
well-planned and well-managed recruiting effort will result in high- quality
applicants, whereas, a haphazard and piecemeal effort will result in
mediocre ones. High-quality employees cannot be selected when better
candidates do not know of job openings, are not interested in working for the
company and do not apply. The recruitment process should inform qualified
individuals about employment opportunities, create a positive image of the
company, provide enough information about the jobs so that applicants can
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make comparisons with their qualifications and interests, and generate


enthusiasm among the best candidates so that they will apply for the vacant
positions.
The negative consequences of a poor recruitment process speak volumes
about its role in an organization. The failure to generate an adequate number
of reasonably qualified applicants can prove costly in several ways. It can
greatly complicate the selection process and may result in lowering of
selection standards. The poor quality of selection means extra cost on
training and supervision. Furthermore, when recruitment fails to meet the
organizational needs for talent, a typical response is to raise entry-level pay
scales. This can distort traditional wage and salary relationships in the
organization, resulting in avoidable consequences. Thus, the effectiveness of
a recruitment process can play a major role in determining the resources that
must be expended on other HR activities and their ultimate success
RECRUITMENT POLICY :
It specifies the objective of recruitment and provides a framework for the
implementation of the recruitment programme. A recruitment policy may
involve
1) It should provide employees with job security and continuous
employment.
2) It should integrate organizational needs and employee needs.
3) It should match the qualities of the employees with the requirements of
the work for which they are employed.
4) It should highlight the necessity of establishing job analysis.

FACTORS AFFECTING RECRUITMENT :


Every organization, big or small has to engage in recruitment of persons,
recruitment has two aspects1) To find out the number of vacancies to be notified and the type of
applicants needed to fill them.
2) To approach the potential applicants to apply for such vacancies.
No organization can recruit successfully without taking into consideration
the following factors
1) The Economic Factors
The economic conditions of a country influence the recruitment process in
all organization. The globalization and liberalization of Indian economies
since 1991 onwards has resulted in a boom in financial services in India. As
a result of the new economic policy, the demands of well
2) The Social Factors
These also affect the recruitment policy of an organization. Social changes in
the past two decades in India, have forced organization to commitment to
broad principles such as filling vacancies with the best-qualified individuals.
It may also involve the organizational system to be developed for
implementing recruitment programme and procedure to be employed.

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ELEMENTS OF GOOD RECRUITMENT POLICY :


A good recruitment policy must contain the following elements:
1) Organizational objectives : Both short term and long term organizational
objectives must be taken into consideration into consideration. Identification
of recruitment needs :
2) Preferred sources of recruitment : The sources of recruitment should be
identified properly.
3) Monetary aspects : The cost of recruitment and financial implications of
the same have to be kept in mind also.
PRE-REQUISITES OF GOOD RECRUITMENT POLICY
1) It should be in conformity with the general personnel policies.
2) It should be flexible enough to meet the changing needs of the
organization.
3) It should provide employees with job security and continuous
employment.
4) It should integrate organizational needs and employee needs.
5) It should match the qualities of the employees with the requirements of
the work for

which they are employed.

6) It should highlight the necessity of establishing job analysis.


FACTORS AFFECTING RECRUITMENT :
Every organization, big or small has to engage in recruitment of persons,
recruitment
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has two aspects1) To find out the number of vacancies to be notified and the type of
applicants needed to fill them.
2) To approach the potential applicants to apply for such vacancies.
No organization can recruit successfully without taking into consideration
the following factors
1) The Economic Factors
The economic conditions of a country influence the recruitment process in
all organization. The globalization and liberalization of Indian economies
since 1991 onwards has resulted in a boom in financial services in India. As
a result of the new economic policy, the demands of well
2) The Social Factors These also affect the recruitment policy of an
organization. Social changes in the past two decades in India, have forced
organization to place increasedemphasis on recruitment. The mentality of
modern employees has changed from just any job to a satisfying career.
3) The Technological Factors New technology have created new jobs and
existing jobs have undergone rapid changes. Several old jobs have
disappeared from the scene.
4) The Legal Factors The different legislative policies governing child
labour, night shifts, bonded labour etc. have brought legal environment to a
major factor.
PROCESS OF RECRUITMENT It passes through the following stages :
1) Recruitment process begins when personnel department receives
requisition for recruitment from any department of the company.
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2) Locating and developing the sources of required number and type of


employees.
3) Identifying the prospective employees with required characteristics.
4) Developing the techniques to attract the desired candidates.
5) The next stage in the process is to stimulate as many candidates as
possible.
6) Evaluating the effectiveness of recruitment process.
PROCESS OF RECRUITMENT COMPANY ADOPTS : SOURCES OF
RECRUITMENT

Personnel
Planning
Job
Analysis
Recruitment
Planning
Searching
Evaluation
and control
Strategy
Development
Selection
Screening

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Before an organization actively begins to recruit applicants it should


consider the mostly likely source of the type of employee it needs. Some
companies try to develop new sources while most try to tackle the existing
sources they have. These sources accordingly may be termed as internal and
external.
Internal Sources
This is one of the important sources of recruitment. The employees already
working in the organization may be more suitable for higher jobs than those
recruited outside. Internal sources consist of the following :
1) Present employee: Promotions and transfers among the present
employees can be a good source of internal recruitment.
2) Employee Referrals: In an organization with a large number of employees
referrals can
provide quite a large pool of potential organizational members.
3) Former Employee : These are another internal source of recruitment.
Some retired employees may be willing to come back to work.
4) Previous Employees : Those who have previously applied for jobs can be
contacted bymail.
External Sources :
These are as follows
1. Advertisement
2ProfessionanOrganization
3.DataBank
4.Walkin
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5.RecruitingAgencies
6.Competitors
7.DisplacedPersons
8. E-recruitment
12. Cold calling
RECRUITMENT PROCESS COMPANY ADOPTS
1)Internalsource
2)Advertisement
3)Consultants
4) Data banks
INDUCEMENTS
Organizational inducements are all the positive features and benefits offered
by an organization that serves to attract job applicants to the organisation.
Three inducements need specific mention here, they are:.Compensation: Starting salaries, frequency of pay increases, incentives and
fringe benefits can all serve as inducements to potential employees.
Career Opportunities: These help the present employees to grow
personally and professionally and also attract good people to the
organization. The feeling that the company takes care of employee career
aspirations serves as a powerful inducements to potential employees.
Image or Reputation: Factors that affect an organisations reputation
include its general treatment of employees, the nature and quality of its
products and services and its participation in worthwhile social endeavors.

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CONSTRAINTS
If a firm has a poor image in the market, many of the prospective candidates
may not even apply for vacancies advertised by the firm. If the job is not
attractive, qualified people may not even apply. Any job that is viewed as
boring, hazardous, anxiety producing, low-paying, or lacking in promotion
potential seldom will attract a qualified pool of applicants. Recruiting efforts
require money. Sometimes because of limited resources, organizations may
not like to carry on the recruiting efforts for long periods of time, this can,
ultimately, constrain a recruiters effort to attract the best person for the job.
Government policies often come in the way of recruiting people as per the
rules of the company or on the basis of merit/seniority, etc. For example,
reservations to specific groups (such as scheduled castes, scheduled tribes,
backward castes, physically handicapped and disabled persons, exservicemen, etc.) have to be observed as per constitutional provisions while
filling up vacancies in government corporations, departmental undertakings,
local bodies, quasi-government organizations, etc.

CORPORATE

MISSION,

OBJECTIVES,

STRATEGIES

AND

TACTICS (MOST)
Corporations have started linking their Mission, Objectives, Strategies and
Tactics (MOST) to the functions of recruitment and selection. The economic
liberalizations and consequent competition through quality and services
necessitated the companies to search for and attract competent human
resources. Corporations focusing on new business development will have to
seek entrepreneurial abilities, companies planning to withdraw from
diversifications must look for pragmatists and companies chasing growth
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alliances should employ people comfortable in different cultural


backgrounds. Above all, companies must hire for the future, anticipating
jobs that may not be in existence yet. Recruitment managers must focus for
attitudes and approaches that fit the corporate goals and culture
CENTRALISED V/s DECENTRALISED RECRUITMENT
Recruitment practices vary from one organization to another. Some
organizations like commercial banks resort to centralized recruitment while
some organizations like the Indian Railway resort to decentralized
recruitment practices. Personnel department at the central office performs all
the functions of recruitment in case of centralised recruitment and personnel
Departments at unit level/zonal level perform all the functions of recruitment
Concerning to the jobs of the respective unit or zone.
MERITS OF CENTRALISED RECRUITMENT

Average cost of recruitment per candidate/unit should be relatively


less due to economies of scale.

It would have more expertise available to it.

It can ensure broad uniformity among human resources of various


Units/zones in respect of education, skill, knowledge, talent, etc.

It would generally be above malpractices, abuse of powers,


favoritism, bias, etc.

It would facilitate interchangeability of staff among various units/zones.


It enables the organization to have centralized selection procedure,

promotional and transfer procedure, etc.

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It ensures the most effective and suitable placement to candidates.

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It enables centralized training programmed which further brings


Uniformity and minimizes average cost of staff.
MERITS OF DECENTRALISED RECRUITMENT
1

The unit concerned concentrates only on those sources/places wherein


Normally gets the suitable candidates. As such the cost of recruitment
would be relatively less.

2 The unit gets most suitable candidates as it is well aware of the


requirements of the job regarding culture, traditional, family background
aspects, local factors, social factors, etc.

Units can recruit candidates as and when they are required without

any delay.

The units would enjoy freedom in finding out, developing the sources,

in selecting and employing the techniques to stimulate the candidates.

The unit would relatively enjoy advantage about the availability of

information, control and feedback and various functions/processes of


recruitment.

The unit would enjoy better familiarity and control over the

employees it recruits rather than on employees selected by the central


recruitment agency.
Both the systems of recruitment would suffer from their own demerits.
Hence, the management has to weigh both the merits and demerits of each
system before making a final decision about centralizing or decentralizing
the recruitment. Alternatively management may decentralize the recruitment
of certain categories of employees preferably middle and top level
managerial personnel and centralize the recruitment of other categories of
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employees preferably lower level positions in view of the nature of the jobs
and suitability of those systems for those categories of positions. The
management has to find out and develop the sources of recruitment after
deciding upon centralizing or decentralizing the recruitment function

INTRODUCTION SELECTION
The size of the labour market, the image of the company, the place of
posting, the nature of job, the compensation package and a host of other
factors influence the manner of aspirants are likely to respond to the
recruiting efforts of the company. Through the process of recruitment the
company tries to locate prospective employees and encourages them to
apply for vacancies at various levels. Recruiting, thus, provides a pool of
applicants for selection.
Definition
To select mean to choose. Selection is the process of picking individuals
who have relevant qualifications to fill jobs in an organisation. The basic
purpose is to choose the individual who can most successfully perform the
job from the pool of qualified candidates.
Purpose
The purpose of selection is to pick up the most suitable candidate who
would meet the requirements of the job in an organisation best, to find out
which job applicant will be successful, if hired. To meet this goal, the
company obtains and assesses information about the applicants in terms of
age, qualifications, skills, experience, etc. the needs of the job are matched
with the profile of candidates. The most suitable person is then picked up
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after eliminating the unsuitable applicants through successive stages of


selection process. How well an employee is matched to a job is very
important because it is directly affects the amount and quality of employees
work. Any mismatched in this regard can cost an organisation a great deal of
money, time and trouble, especially, in terms of training and operating costs.
In course of time, the employee may find the job distasteful and leave in
frustration. He may even circulate hot news and juicy bits of negative
information about the company, causing incalculable harm to the company
in the long run. Effective election, therefore, demands constant monitoring
of the fit between people the job.

The Process
Selection is usually a series of hurdles or steps. Each one must be
successfully cleared before the applicant proceeds to the next one. The time
and emphasis place on each step will definitely vary from one organisation
to another and indeed, from job to job within the same organisation. The
sequence of steps may also vary from job to job and organisation to
organisation. For example some organisations may give more importance to
testing while others give more emphasis to interviews and reference checks.
Similarly a single brief selection interview might be enough for applicants
for lower level positions, while applicants for managerial jobs might be
interviewed by a number of people.
Reception
A company is known by the people it employs. In order to attract people
with talents, skills and experience a company has to create a favourable
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impression on the applicants right from the stage of reception. Whoever


meets the applicant initially should be tactful and able to extend help in a
friendly and courteous way. Employment possibilities must be presented
honestly and clearly. If no jobs are available at that point of time, the
applicant may be asked to call back the personnel department after some
time.
SELECTION OF FINANCIAL CONSULTANT UNDERSTANDING
SELECTION PROCESS
Recruitment function helps the organization to develop a pool of prospective
human resources. It is difficult for the HR manager to employ the suitable
people out of the pool. Infact, many organizations face critical problems in
choosing the people. Selection techniques and methods reduce the
complexities in choosing the right candidates for the job. After identifying
the sources of human resources, searching for prospective employees and
stimulating them to apply for jobs in an organization,

the management has to perform the function of selecting the right employees
at the right time. The obvious guiding policy in selection is the intention to
choose the best person who have good social contact. The objective of the
selection decision is to choose the individual who can most successfully
perform the job from the pool of qualified candidates. The selection
procedure is the system of functions and devices adopted in a given
company to ascertain whether the candidate specifications are matched with
the job specifications and requirements or not.

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The selection process can be successful if the following requirements are


satisfied:
Someone should have the authority to select. This authority comes
from the employment requisition, as developed by an analysis to the
workload and work force.
There must be some standard of personnel with which a prospective
employee may be compared, i.e. a comprehensive job description and
job specification should be available before hand.
There must be a sufficient number of applicants from whom the
required number of employees may be selected.
The ability of an organization to attain its goal effectively and to develop in
a dynamic environment largely depends upon the effectiveness of its
selection programme. If the right person is selected, he is valuable asset to
the organization
SELECTION PROCEDURE:
Selection procedure employs several methods of collecting information
about the candidates qualifications, experience, physical and mental ability,
nature and behavior, knowledge and aptitude for judging whether a given
applicant is suitable or not for the job. Therefore the selection procedure is
not a single act but is essentially a series of methods or stages by which
different types of information can be secured through various selection
techniques. At each step facts may come to light, which are useful for
comparison with the job requirement and employee specifications

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IN DETAIL EXPLANATION:
(A) JOB ANALYSIS:
Job analysis is the basis for selecting the right candidates. Every
organization should finalize the job analysis, job description, job
specification and employee specifications before proceeding to the next step
of selection
essentially a series of methods or stages by which different types of
information can be secured through various selection techniques. At each
step facts may come to light, which are useful for comparison with the job
requirement and employee specifications.
(B) HUMAN RESOURCE PLAN:
Every company plans for the required number of and kind of employees for
a future date. This is the basis for recruitment function.
(c) RECRUITMENT:
Recruitment refers to the process of searching for prospective employees
and stimulating them to apply for jobs in an organization. It is the basis for
the remaining technologies of the screening the candidates in order to select
the appropriate candidates for the jobs
.
(D) DEVELOPMENT OF BASES FOR SELECTION:
The company has to select the appropriate candidates from the pool of
applicants.

The

company

develops

or

borrows

the

appropriate

bases/techniques for screening the candidates in order to select the


appropriate candidates for the jobs.
(E) APPLICATION FORM:
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Application form is also known as application blank. The techniques of


application blank are traditional and widely accepted for securing
information from the prospective candidates. It can also be used as a device
to screen the candidates at the preliminary level. Many companies formulate
their own style of application forms depending upon the requirement of
information based on the size of the company, nature of business activities,
type and level of the job etc. Information is generally required on the
following items in the application forms:
Personal

background

Educational

qualifications

Work
Salary
Personal

experience
(drawing
attainments

and
including

likes

expecting)
and

dislikes

References
F) WRITTEN EXAMINATION:
Organizations have to conduct written examination for the qualified
candidates after they are screened on the basis of the application blanks so as
to measure the candidate s ability in arithmetical calculations, to know the
candidate s attitude towards the job, to measure the candidate s aptitude,
reasoning, knowledge in various disciplines, general knowledge and English
language.
(G) PRELIMINARY INTERVIEW:
The preliminary interview is to solicit necessary information from the
prospective applications and to assess the applicant s suitability to the job.
An assistant in the personnel department may conduct this preliminary
interview. The information thus provided by the candidate may be related to
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the job or personal specifications regarding education, experience, salary


expectations, attitude towards job, age, physical appearance and other
requirements etc. Thus, preliminary interview is useful as a process of
eliminating the undesirable and unsuitable candidates. If a candidate satisfies
the job requirements regarding most of the areas, he may be selected for
further process. Preliminary interviews are short and known as stand up
interviews or sizing up of the applicants or screening interviews. However,
certain required amount of care is to be taken to ensure that the desirable
workers are not eliminated. This interview is also useful to provide the basic
information about the company to the candidate.
(H) BUSINESS GAMES:
Business games are widely used as a selection technique for selecting
management trainees, executive trainees and managerial personnel at junior,
middle and top management positions. Business games help to evaluate the
applicants in the areas of decision-making, identifying the potentialities,
handling the situations, problem- solving skills, human relations skills etc.
participants are placed in a hypothetical work situation and are required to
play the role situations in the game. The hypothesis is that the most
successful candidate in the game will be most successful one on the job
.
GROUP DISCUSSION is used in order to secure further information
regarding the suitability of the candidate for the job. Group discussion is a
method where groups of the successful applicants are brought around a
conference table and are asked to discuss either a case study or subject
matter. The candidates in the group are required to analyze, discuss, find
alternative solutions and select the sound solution. A selection panel then

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observes the candidates in the areas of initiating the discussion, explaining


the problem, soliciting unrevealing information based
on the given information and using common sense, keenly observing the
discussion of others, clarifying controversial issues, influencing others,
speaking effectively, concealing and mediating arguments among the
participants and summarizing or concluding aptly.
The selection panel, based on its observation, judges the candidate s skill
and ability and ranks them according to their merit. In some cases, the
selection panel may also ask the candidates to write the summary of the
group discussion in order to know the candidate s writing ability as well.
Types of test:
Tests are classified into six classes, each class is again divided into different
types of tests. They are:
APTITUDE TESTS:
These tests measure whether an individual has the capacity or latent ability
to learn a given job if given adequate training. Aptitudes can be divided into
general and mental ability or intelligence and specific aptitudes such as
mechanical, clerical, manipulative capacity etc. General aptitude test is of
two types namely intelligence quotient (IQ) and emotional quotient (EQ).
(1) Skill tests:
These tests measure the candidate s ability to do a job perfectly and
intelligently. These tests are useful to select the candidates to perform artistic
jobs, product design, design of tools, machinery etc. The candidates can be
selected for assembly work, testing and inspection also.

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(2) Mechanical aptitude tests:


These tests measure the capabilities of spatial visualization, perceptual speed
and knowledge of mechanical matter. These tests are useful for selecting
apprentices, skilled, mechanical employees, technicians etc.
(3) Psychomotor tests:
These tests measure abilities like manual dexterity, motor ability and
eyehand coordination of candidates. These tests are useful to select semiskilled workers and workers for repetitive operations like packing and watch
assembly.
(4) Clerical aptitude tests:
These types of tests measure specific capacities involved in office work.
Items of this tests include spelling, computation, comprehension, copying,
word measuring etc.
ACHIEVEMENT TESTS:
These tests are conducted when applicants claim to know something as these
tests are concerned with what one has accomplished. These tests are more
useful to measure the value of a specific achievement when an organization
wishes to employ experienced candidates. These tests are classified into (a)
job knowledge test and (b) work sample test. Thus, the candidate s
achievement in his career is tested regarding his knowledge about the job
and actual work experience.
SITUATIONAL TESTS:
This test evaluates a candidate s in a similar real life situation. In this test the
candidate is asked either to cope with the situation or solve critical situations
of the job.

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(1) Group discussion:


This test is administered through the group discussion approach to solve a
problem under which candidates are observed in the areas of initiating,
leading, proposing valuable ideas, conciliating skills, oral communicating
skills, coordinating and concluding skills.
(2) In basket:
Situational test is administered through in basket method. The candidate in
this test is supplied with actual letters, telephone and telegraphic
message,reports and requirements by various officers of the organization,
adequate information about the job and organization. The candidate is asked
to take decisions on various items based on the in basket information
regarding requirements in the memoranda.

INTEREST TESTS:
These tests are inventories of the likes and dislikes of candidates in relation
to work, job, occupations, hobbies and recreational activities. The purpose of
this test is to find out whether a candidate is interested or disinterested in the
job for which he is a candidate and to find out in which area of the job
range/occupation the candidate is interested. The assumption of this test is
that there is a high correlation between the interest of a candidate in a job
and job success. Interest inventories are less faked and they may not
fluctuate after the age of 30
.
PERSONALITY TESTS:
These tests prove deeply to discover clues to an individual s value system,
his emotional reactions and maturity and characteristic mood. They

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areexpressed in such traits like self-confidence, tact, distrust, initiative,


emotional control, optimism, decisiveness, sociability,
conformity,objectivity, patience, fear, judgment dominance or submission,
impulsiveness, sympathy, integrity, stability and self-confidence.
(1)
Objective tests: Most personality tests are objective tests as they are
suitable for group testing and can be scored objectively.
(2) Projective tests:
Candidates are asked to project their own interpretation of certain standard
stimulus basing on ambiguous pictures, figures etc. under these tests.
Personality tests have disadvantages in the sense that sophisticated
candidates can fake them and most candidates give socially acceptable
answers. Further, personality inventories may not successfully predict job
success. A number of corrective measures tried as personality inventories are
widely subject to faking. They are:
Forced choice of Edward s personnel preference schedule.
Gordon personal profile.
The Minnesota Multi-phasic Inventory offers different methods
forIdentifying faking. The faking can be countered by repeating the same
question in different parts to measure consistency.
MULTI-DIMENSIONAL TESTING:
However, the need for multi-skills is being felt be most of the companies
consequent upon globalization, competitiveness and the consequent
customer-centered strategies. Organization have to develop
multidimensional testing in order to find out whether the candidates possess
a variety of skills or not, candidate s ability to integrate the multi-skills and
potentiality to apply them based on situational and functional requirement.
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29

J) INTERVIEW:
Final interview follows after tests. This is the most essential step in the
process of selection. In this step the interviewer matches the information
obtained about the candidate through various means to the job requirements
and to the information obtained through his own observation during the
interview. The different types of interviews are:
PRELIMINARY INTERVIEW:
(1) Informal interview:
This is the interview, which can be conducted at any place by the person to
secure the basic and non-job related information. The interaction between
the candidate and the personnel manager when the former meets the latter to
enquire about the vacancies or additional particulars in connection with the
employment advertisement is an example of the informal interview.
2) Unstructured interview:
In this interview, the candidate is given the freedom to tell about himself by
revealing his knowledge on various items/areas, his background,
expectations, interest etc. Similarly, the interviewer also provides
information on various items required by the candidate.
CORE INTERVIEW:
It is normally the interaction between the candidates and the line executive
or experts on various areas of job knowledge, skill, talent etc. This interview
may take various forms like:
(1)Background information interview This interview is intended to collect
the information which is not available in the application blank and to check
that information provided in the application blank regarding education, place

29

30

of domicile, family, health, interest, hobbies, likes, dislikes and extra


curricular activities of the applicant.
(2) Job and probing interview:
This interview aims at testing the candidate s job knowledge about duties,
activities, methods of doing the job, critical/problematic areas, methods of
handling those areas etc.
(3) Stress interview:
This interview aims at testing the candidate s job behavior and level of
understanding during the period of stress and strain. The interviewer tests
candidate by putting him under stress and strain by interrupting the applicant
from answering, criticizing his opinions, asking questions pertaining to
unrelated areas, keeping silent for unduly long periods after he has finished
speaking etc. Stress during the middle portion of the interview gives
effective results. Stress interview must be handled with utmost care and
skills. This type of interview is often invalid, as the interviewer s need for a
job and his previous experience in such type of interviews may inhibit his
actual behavior under such situations.
(4) Group discussion interview: There are 2 methods of conducting group
discussion interviews, viz. group interview method and discussion interview
method. All the candidates are
brought into one room and are interviewed one by one under group
interview. This method helps a busy executive to save valuable time and
gives a fair account of the objectivity of the interview to the candidates.
Under the discussion interview method, one topic is given for discussion to
the candidates who assemblein one room and they are asked to discuss the
topic in detail. This type of interview helps the interviewer in appraising
certain skills of the candidates like initiative, inter-personal skills,
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31

dynamism, presentation, leading, comprehension, collaboration etc.


Interviewers are at ease in this category of interview because of its
informality and flexibility.
(5) Formal and structured interview:
In this type of interview, all the formalities, procedures like fixing the value,
time, panel of interviewers, opening and closing, intimating the candidates
officially etc. are strictly followed in arranging and conducting interview.
The course of the interview is preplanned and structured, in advance,
depending on job requirements
(6) Panel interview:
A panel of experts interviews each candidate, judges his performance
individually and prepares consolidated judgment. This type of interview is
known as panel interview. Interviewers for middle level and senior level
mangers are normally conducted are the panel of experts.
(7) Depth interview:
In this interview, the candidate would be examined extensively in core areas
of job skills and knowledge. Experts test the candidate s knowledge in depth.
Depth interviews are conducted for specialist jobs.

DECISION-MAKING INTERVIEW:
After the experts including the line managers of the organization in the core
areas of the job examine the candidates, the head of the department/section
concerned interviews the candidates once again, mostly through informal
discussion. The interviewer examines the interest of the candidate in the job,
organization
Reaction adaptability to the working complaining, promotional
opportunities, work adjustment and allotment etc. The personnel manger
also interviews the candidates with a view to find out his reaction/acceptance
31

32

regarding salary, allowances, benefits, promotions, opportunities etc. The


head of the department and the personnel manager exchange the view and
then they jointly inform their decision to the chairman of the interview
board, which finally makes the decision about the candidate s performance
and their ranks in the interview. Most of the organizations have realized that
employee s positive attitude matters much rather than employee s skill and
knowledge. Employees with positive attitude contribute much to the
organization. Hence, interviewers look for the candidates with the right
attitude while making final decision.
(K) MEDICAL EXAMINATION:
Certain jobs require certain physical qualities like clear vision, perfect
hearing unusual stamina, tolerance of hardworking conditions, clear tone etc.
Medical examination reveals whether or not a candidate possesses these
qualities. Medical examination can give the following information:
Whether the applicant is medically suited for the specific job
Whether the applicant has health problems or psychological attitudes
likely to interfere with work efficiency or future attendance.
The offer. Whether the applicant suffers from bad health which should
be corrected before he can work satisfactorily
It reveals the applicant s physical measurements and
It is used to check the special senses of the candidates.

(L) REFERENCE CHECKS:


dition,careerAfter completion of the final interview and medical
examination, the personnel department will engage in checking references.
Candidates are required to give the names of references in their application
forms. These references may be from the individuals who are familiar with

32

33

the candidates academic achievement or form the applicant s previous


employer, who is well versed with the applicant s job performance, and
sometimes from coworkers. Incase the reference check is from the previous
employer; information for the following areas may be obtained. They are job
title, job description, and period of employment, pay and allowances, gross
emoluments, benefits provided, rate of absence, willingness of the previous
employer to employ the candidate again and soonFurther, information
regarding candidate s regularity at work, character, progress etc. can be
obtained.
Often a telephone call is much quicker. The method of mail provides
detailed information about the candidate s performance, character and
behavior. However, a personal visit is superior to the mail and telephone
methods and is used where it is highly essential to get the detailed, actual
information, which can also be secured by observation. Reference checks are
taken as a matter of routine and treated casually or omitted entirely in many
organizations. But a good reference check used sincerely will fetch useful
and reliable information to the organization.
(M) FINAL DECISION BY THE LINE MANAGER:
The line manager concerned has to make the final decision whether to select
or reject a candidate after soliciting the required information through
techniques discussed earlier. The line manager has to take much care in
taking the final decision not only because of economic implications but
alsobecause of behavioral and social implications. A careless decision of
rejecting would impair the morale of the people and they would suspect the
selection procedure and the basis of selection of this organization. A true
understanding between line managers andpersonnel managers should be
established to take proper decisions.

33

34

(N) JOB OFFER:


Thus, after taking the final decision, the organization has to intimate this
decision to the successful as well as unsuccessful candidates. The
organization offers the job to the successful candidates either immediately or
after some time depending upon its time schedule. The candidate after
receiving job offer communicates his acceptance to the offer or requests the
company to modify the terms and conditions of employment or rejects the
offer.
RECRUITMENT AND SELECTION AT SBI LIFE INSURANCE
Recruitment is the process of attracting prospective candidates who are
likely to get selected. Recruitment process starts with the drafting of
advertisement for the required post mentioning the name of the post,
qualifications required, place of posting etc. the advertisement is released in
all major and national newspaper across the country. Not only print media,
but other media like internet is also used for posting the advertisement.
Placement agencies and educational institutions are considered if the
requirements are for fresh graduates. Employee references by are also
encouraged. After receiving the applications, it is initially screened by HR
division based on minimum requirements and qualifications prescribed for
the post. Screened applications from HR division are sent to respective
divisional heads for their screening in case of applications for higher posts.
Selection is the process of selecting right candidates from the list of
prospective candidates. Selection process involves tests, interviews, group
discussions, psychometric tests or a combination of these depending on the
nature or sensitivity of the level and the post. For technical posts, tests are
used as elimination means while for some other posts like management
34

35

trainee, tests are not used as elimination means. The shortlisted candidates
are called for the final interview. Regret letters are sent to those who are not
shortlisted. Background checking of the shortlisted candidates is done to
ensure that they will fit with the culture of the organization. Job offers are
made to the selected candidates and they are asked to give their confirmation
that they accept the job offer. On receiving their confirmation, appointment
letter is prepared by personnel and administration division and given to the
candidate at the time of joining. Salary offer is a part of Human resource
division while personnel and administration division handles salary
administration.
57

35

36

RESEARCH METHODOLOGY
The current chapter deals with the research methodology adopted In present
study indicates the selection of sample respondents, collection of data.
choice of statistical tools for analysis of data, in addition to pointing out
limitations of the study.
Methodology adopted:
The research is aimed at to evaluate employee engagement at SBI bank. The
city will cover under the research Moga.,Bagha purna
Research design:
The design for this study is descriptive.
Sampling unit:
Sampling is an effective step in collection of primary data that influence the
quality and correctness of the result.
Sampling size:
The sample size is selected to give the true picture. The size is
ANLAYSIS AND FINDINGS
From the analyzed data I could find that
The main source of the recruitment is through external sources i.e.
through
advertisement.
36

37

The other source of recruitment is through references , natural market


and
consultants.
Maximum prospects fulfils all the criteria prescribed by the IRDA.
Research shows that the Financial Advisors generally belong to the age
of 30- 50 years
It is found that the company provides both types of training and mainly
prospects goes for the online training.
Every year company recruits as many as 50 Advisors in order to
increase
the sales force of the company.
Most of the recruited people are aware of the insurance sector and the
person who are not aware of the insurance sector are made aware through
the training before sitting for the test.
It has been found through the studies that most of the candidate
recruited
belongs the banking and insurance sector . It means that they are having
some knowledge about the insurance sector.
For most of the prospects attending 21 days training is a major problem.
As the timings for the training are full time 10:30 am to 5.00 p.m.

37

38

For most of the prospects they join SBI LIFEINSURANCE for the
extra
income.
Most of the recruited people continue working as a Financial Advisor.
LIMITATIONS
1) This Project Report is restricted only for the interviewed people.
2) Biased reply of the respondents like giving wrong information.
3) Non availability of the data or the relevant information of the respondent.

4) Sometimes it happens that the respondent was busy so as to get the


information it becomes difficult
5) The project is done in near by areas of the Aundh Branch of the company
& therefore findings of it may not be applicable in other areas.
6) Time Constraints The duration of the project is only 2 months. In this
duration we have to finish the project so the sample size considered for this
project is also limited which may give some misleading outputs.
7) Although ICICI Prudential is a well known brand, it invests heavily in
the advertisements, but somehow the concept of financial advisor was not
known to the customers and it requires great amount of efforts to convince
the various benefits to them.
INSURANCE:

38

39

Insurance, in law and economics, is a form of risk management primarily


used to hedge against the risk of a contingent loss. Insurance is defined as
the equitable transfer of the risk of a loss, from one entity to another, in
exchange for a premium, and can be thought of as a guaranteed small loss to
prevent a large, possibly devastating loss. An insurer is a company selling
the insurance; an insured or policyholder is the person or entity buying the
insurance. The insurance rate is a factor used to determine the amount to be
charged for a certain amount of insurance coverage, called the premium.
Risk management, the practice of appraising and controlling risk, has
evolved as a discrete field of study and practice.

It is one of those things that one would not like to think and talk about but if
you dont you may leave your family unprotected. In simple terms life
insurance provides money for my family in the event that I die.

It is a financial resource for my family and loved ones in case of my death. A


Contract between me and the insurance company. Insurance is sharing
the risk between company and individual

In insurance two type of benefits risk cover and saving. Risks cover Consists
of death, accidental recovery and health.

Insurance

39

40

Risk cover
1. Death

2.Accidental recovery

Saving
3.Health

When age is increase, risk is also increase, so premium is increase.

Need of Insurance
Insurance is a basic need of a individual. Like every man eat food forgiving
so insurance is necessary for every human life. If a person not has life
insurance and he is died then his families face many financial troubles. So
insurance is necessary need.
Share of SBI GROUP & BNP PARIBAS:SBI Life Insurance Company Limited is a joint venture between the State
Bank of India and BNP Paribas Assurance. SBI Life Insurance is registered
with an authorized capital of Rs 2000 crores and a Paid-up capital of Rs
1000 Crores. SBI owns 74% of the total capital and BNP Paribas Assurance
the remaining 26%.
SBI GROUP
CO. LTD.
74 %

+ BNP PARIBAS = SBI LIFE INSURANCE

+ 26 %

PRODUCT OF SBI LIFE:-

I.

Traditional plan:-

A.

Term Insurance:

40

= 100 %

41

Shield Plan

Swadhan Plan

B.

Endowment plan:
SUDARSHAN PLAN
Money back plan

C.

Children plan:
Scholar II plan

D.

Pension plan:

Lifelong pension

These all Plans are Traditional Plans.


SHIELD PLAN

Introduction:
Key man is the key member or staff of the organization who is a major
contributor to its growth and the profit and whose absence may affect the
continuity of the business.
A Keyman insurance policy is taken to protect the 41organization against the
41

42

reduction in profit resulting from the death of the Keyman. As per IRDA
circular only Pure Term Assurance Products may be used as a Keyman
Insurance. We offer SBI Life Shield as a Keyman Insurance Policy.
Product features available of SBI Life Shield used as Keyman:

Minimum / Maximum Age at Entry : 18 Years to 60 Years

Term : 5 Years to 25 Years or Retirement age, whichever is earlier

Choice of Increasing Sum Assured @ 5% p.a. or Level Cover

No Riders available

Mode of Payment : Single Premium or Regular Premium (no

monthly mode available)

Sum Assured
Minimum (Per Life Assured):

SBI Life Shield Plan: Rs. 10, 00,000/- (in multiples of Rs. 10,000)
Maximum Sum Assured (Per Corporate):
The quantum of cover would be based on the following parameters,
underwriting requirements and subject to the maximum Sum Assured
permitted in the respective plan chosen
Maximum Sum Assured should be LOWER of :
1.

5 times the average net profit of the Company for the past 3

years.
2.

3 times the average gross profit of the Company for the past 3 years.

A multiple of the individual remuneration/compensation package that the

42

43

Key man receive may also be considered.

SUDARSHAN

Introduction:
SBI Life - Sudarshan is an Endowment Policy designed to provide savings
and protection to you and your family. You can save regularly for the future.
Thus at the end of the plan, you will receive a substantial amount of savings
along with the accumulated bonuses declared. At the same time, your family
will be protected for death risk for the full Sum Assured.
Key Features:

It offers you the option of tailoring your policy according to your

requirement and needs, by opting for various extra covers (Riders) that are
offered.

This is a unique product that offers you an innovative cover (plan B)

which helps you to protect your savings against the financial


consequences of inflation with constant premium for the entire duration of
the plan.

It gives you protection against unfortunate terminal or dreaded illness.


It is an insurance plan which could also act as a hedging instrument.

43

44

With this plan you can plan your childrens future education, marriage

expenses or even your own retirement - in a most flexible manner.


Product type:
It is a traditional endowment plan i.e. saving - cum protection product.
How does it work?
SBI Life - Sudarshan has two basic plans.

Fixed Sum Assured Plan: Allows you to build a regular saving

plan that gives you a secure amount at the end of a fixed period plus a
bonus. In the unfortunate event of death before maturity, the nominee would
stand to receive the Sum assured and the bonus accrued till that date.

Increasing Sum Assured Plan - the COLA Option: The Cost Of

Living Adjustment (COLA) option is so called because it serves as an


automatic hedge against inflation. It allows you to increase the Sum Assured
automatically by paying an additional premium compared to the Fixed Sum
Assured Plan. Moreover, the life cover also automatically increases during
the period as added protection to the family.
Benefits

Maturity Benefit: Depending upon the plan option chosen:


Fixed Sum Assured (Plan A) Basic Sum Assured along with Vested

Bonus* is payable

44

45

Increasing Sum Assured (Plan B) Increased Sum Assured @ 5% p.a.

along with Vested Bonus* is payable

Death Benefit:

In the unfortunate event of death of the Life Assured, depending upon the
plan option chosen:

Fixed Sum Assured (Plan A) The Sum Assured along with Vested

Bonus * is payable to your nominee.

Increasing Sum Assured (Plan B) Increased Sum Assured @ 5% p.a

along with Vested Bonus* is payable to your nominee.

Other Benefits:

If the extra cover (riders) have been opted for, the following additional
benefits are payable:

Term Assurance Cover benefit

The Term Assurance cover is payable in addition to normal death benefit.

Accidental Death and Accidental Total Permanent Disability

Cover Benefit:

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46

In case death due to an accident: The rider Sum Assured is payable in


addition to normal Life cover.
In case of Total Permanent Disability due to an accident:
Two benefits are payable:

Critical Illness cover:

On diagnosis of any of the 6 critical illnesses and you survive for more than
30 days; the Critical Illness Cover Sum Assured is paid in a lump sum. No
more claims will be admitted under this cover.
SBI Life - Sudarshan policy remains in force for all the other benefits
Tax Benefits SBI Life :
Sudarshan enjoys Tax benefit u/s 80 C and 10 (10 D) of IT Act* Premiums
paid for Critical Illness Benefit qualify for tax exemption under Sec 80D*
What is the policy term?

Minimum Maximum Years


Years
8 years

30 years

Single Premium Mode 5 years

30 years

Regular Mode

Who can buy this product?


Minimum Maximum Years
Years
12 years

62 years

Single Premium Mode 12 years

65 years

Regular Mode
46

47

What is the minimum & maximum sum assured?

Minimum
Rs.25,000

Maximum
Rs.1 Crore

Riders available

SBI Life - Critical Illness Rider

SBI Life - Term Assurance Rider

SBI Life - Accidental Death & Total Permanent Disability Rider

MONEY BACK PLAN

47

48

Introduction:
As an individual your life is fueled by dreams. You experience different
special moments in life like wedding, birth of a child, childs education or
purchasing a new home. You have to be financially prepared for these
special moments. What you need is easy liquidity at regular intervals with
life insurance protection to take care of these special moments.
Key Features:
The plan has a number of moneyback options specially suited to your needs.
The cover is available at competitive premium rates.

It has guaranteed

cash inflows which can meet your various financial obligations.

In

addition to normal death cover, the plan also provides you 4 additional
covers. Product type: It is a Traditional Saving Plan with added advantage
of life cover and guaranteed cash inflow at regular intervals.
How does it work?
SBI Life Money Back is a saving plan with added advantage of life cover
and cash inflow at regular intervals. This plan is designed for individuals
who want to plan for various financial obligations at specified times in life.

Term of the Plan Guaranteed Survival Benefit


payable

48

Cumulative Guaranteed
Survival Benefit

49

10 Years

The last 3 years on the term

110% of Basic Sum Assured

15 Years

After every 3 years on the term 115% of Basic Sum Assured

20 Years

After every 4 years on the term 120% of Basic Sum Assured

25 Years

After every 5 years on the term 125% of Basic Sum Assured

Benefits

Death Benefit:

In the unfortunate event of death during the term of the plan, the nominee
will receive Sum Assured + Vested Bonuses, (accrued till the date of
death),No deductions are made from the claim amount for the Survival
Benefits already paid.

Exclusions applicable to the Basic Cover:


Suicide within the first year

Other Optional Benefits:

SBI Life - Term Assurance Rider:

The benefit under the Term Assurance Rider is payable in addition to death
benefit.

49

50

SBI Life - Accidental Death and Accidental Total

Permanent Disability Rider


In case of death due to an accident, the nominee gets the additional rider
Sum Assured. If the policyholder is involved in an accident, resulting in total
permanent disability, he/she will get Sum

Assured under this rider in 10

equal annual installments; He/she will exit from all the rider covers
thereafter, but continue to be covered for basic cover on receipt of further
premium due, if any.

SBI Life - Premium Waiver Benefit Rider:

Under this rider the policy holder need not pay future premiums for the base
product, if he/she suffers

from total and permanent disability due to an

accident after the rider is opted for.

SBI Life - Critical Illness Rider:

On diagnosis of any of the 6 critical illnesses (depending on the C.I. cover


you have opted for) and you

survive for more than 30 days from diagnosis;

the Critical Illness Cover Amount is paid in a lumpsum. No more claims will
be admitted under this cover. The Basic policy remains in force for all the
other

50

benefits.
Tax Benefit:

51

SBI Life Money Back Plan enjoys Tax benefit u/s 80 C and 10 (10 D) of IT
Act*.
Premiums paid for Critical Illness Benefit qualify for tax exemption under
Sec 80D*.
What is the policy term?

Minimum Years Maximum Years


10 years
25 years

Who can buy this product?

Eligibility Criteria

Term
Option 2:
Term 15
Years
15

Option 3:
Term 20
Years
15

Option 4:
Term 25 Years

Minimum age at entry

Option 1:
Term 10
Years
15

Maximum age at entry

60

55

50

45

What is the min. & max. sum assured?

Minimum
Rs. 50,000 (and multiples of Rs.
51

10,000 thereafter)

Maximum
Rs.5 Crore.

15

52

Riders Available

SBI Life - Term Assurance Rider

SBI Life - Accidental Death & TPD Rider

SBI Life - Critical Illness Rider

SBI Life - Premium Waiver Benefit Rider

II. Unit Link Plan:

Unit Plus-II
Smart Ulip
Horizon II
Unit Plus Children Plan
Horizon II Pension
Unit Plus II Pension

UNIT PLUS II PLAN


IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT
PORTFOLIO IS BORN BY THE POLICYHOLDER

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53

INTRODUCTION:
It may be difficult to understand all your needs but as your preferred life
insurance company, SBI Life definitely understands all your financial &
insurance needs. SBIBI Life - Unit Plus II Plans are an attempt to meet all
your financial & insurance needs through a single non participating product.
You can use it the way you like. Whats more you get market linked returns
which in the long term has always proved to

give better returns than

traditional savings products.

Key Features:

Unmatched Flexibility to match your changing requirement.

Choice of 5 investment funds: you can change the allocation

percentage when you want, 4 switches free per annum.

Choice of term : Limited term or whole life.

Attractive riders available.

Product type:

This is a non-participating individual unit linked product.

How does it work?

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54

SBI Life - Unit Plus II Plans: II plans depending on your premium


mode.

Single Premium Mode : SBI Life - Unit Plus II Single

UIN No: 111L029V01)

Regular Premium Mode : SBI Life - Unit Plus II Regular

UIN No: 111L028V01)


Decide Your Investment Amount :
Frequency Minimum Premium

Maximum Premium

Single

Rs. 40, 000

No Limit

Regular

Rs. 24, 000 p.a.

No Limit

Choose Your Life Cover:

Single
Premium

It depends upon the total amount you have decided to invest.


Minimum Sum
Maximum Sum Assured
Assured

Term 5 to 125 % of single


9 years
premium amount

625 % of single premium


amount

Term 10
110 % of single
years and
premium amount
above

625 % of single premium


amount

Regular
Premium

Minimum Sum
Assured

Maximum Sum Assured

Regular
Premium

5 times annual
premium amount

Depends on the age*

Whole Life

5 times annual
premium amount

No Limit
(Subject to underwriting)

54

55

55

Benefits :

Maturity Benefit:
56

At maturity, the Fund Value as on that date is paid in full.

Death Benefit: In the unfortunate event of the death.

Before or the age 7 years: Fund Value is payable to the nominee.

After attaining age 7 and before 65th birthday, the beneficiary will receive

higher of Fund Value or Sum Assured less Partial Withdrawals within the last 12
calendar months.

If death occurs after age 65, the beneficiary will receive the higher of the Fund

Value or Sum Assured less all the Partial Withdrawals made in the last 12 calendar
months before attaining the age of 65+ all withdrawals made after attaining the age of
65 will be set off against the Sum Assured excluding partial withdrawals from Top Up
Amount.

Tax Benefits :

Tax benefit as per section 80C and 10(10D) of Income Tax Act.
What is the policy term?
Limited
Term
Minimum
Years

5 years

Maximum
Years

40
years

Age
Ageatat entry
entry18-35

Whole
Life
Term
Life
cover
will be
available
till you
attain 99
years of
age.

Sum Assured
Sum Assured
125 % of single premium subject to maximum SA of Rs.

18-35
5 or 10 times first annualised premium
10 lacs subject to
36-45
125 %
of singleSA
premium
subject
maximum
of Rs. 10
Lacs to maximum SA of Rs.
36-45
5 or 10 times first annualised
5Vesting
lacs subject
to at Entry
Term =premium
Age - Age
56
46-60
125 %
of single
premium
SAYears
of Rs.
maximum
Minimum
SA
of Years
Rs. subject
5 Lacs to maximum
Maximum
Guaranteed Additions(Only for SBI Life - Unit Plus II Regular):
46-60
1.2
5 Years
lacs 1.2 lacs
52 Years

57

Assets

Equity Optimizer Fund:


Min

Equity & Equity related


instruments

60%

Debt and Money market


Nil
instruments

57

Max

Risk

100%
High
40%

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