This document provides a summary of a project report on the recruitment of financial consultants at HDFC Standard Life Insurance Company. The 3-page summary discusses the following key points: 1) The author conducted a study on the recruitment process of financial consultants for their class project under the supervision of their professor. 2) Financial consultants are important sales agents for the company. The document outlines the qualifications, roles, and benefits of being a financial consultant. 3) It also provides an overview of HDFC Standard Life Insurance Company, including its products, recruitment strategies for financial consultants, and training programs offered to help consultants succeed.

1. A Project Report
On
Recruitment of Financial Consultants
At HDFC Standard Life Insurance Company
Supervision By:
Prof. S C Bardia
University Commerce College, Jaipur
Submitted By:
Mayur Gahalot
BBA Part 3rd
[1]

2. ACKNOWLEDGEMNT
It is my proud privilege to express my sincere gratitude to all those who
helped me directly or indirectly in completion of this project report.
I am greatly indebted to respected Shri S C Bardia ji (Professor
Commerce College, University of Rajasthan) for their support, guidance
and valued suggestions by which this work has been completed
effectively and efficiently. These all contributions are of immense value
milestone in my life.
I owe thanks to Mr. Ravi Saxena for providing the required data to
complete this project, without which it was not possible to complete this
project.
Last but not least I am indebted to those entire people who
indirectly contributed and whom this work should not have been
possible.
Endeavour has been made to make the project error free yet I
apologies for the mistakes.
Mayur Gahalot
[2]

3. TO WHOM IT MAY CONCERN
This is to certify that aforesaid candidate of BACHELOR OF BUSINESS
ADMINISTRATION (BBA) of the UNIVERSITYCOMMERCE COLLEGE, have
satisfactorily completed his Project on the topic “Recruitment of Financial
Consultants” as per the syllabus of BBA part 3rd
university of Rajasthan in
academic session 2007-2009.
His performance was judged satisfactory during development of the
project. It is the original work carried out by him during the training period
(office and out door work) of 42 days with HDFC Standard Life Insurance
Company . This Report has not been copied from anywhere, up to the best of
my belief and knowledge.
Project Supervisor
Prof. S C Bardia
University Commerce College, Jaipur
Dated:
[3]

4. INDEX
• Introduction to the Topic
• Financial consultants
• Reasons for my interest in this Topic
• Introduction to the Company
• Major Companies in insurance sector
• Introduction to HDFC Standard Life Insurance Company
• Why HDFC is better?
• Product Scope
• Life Stages
• Organization Hierarchy
• Recruitment of Financial Consultants
• Objectives and scope of Study
• Methodology of Study
• In search of Truth – Data Collection
• Data Analysis, Interpretation and Presentation
• SWOT Analysis
• Conclusion
• Suggestions
• Limitations
• Enclosures - Questionnaire
[4]

5. INTRODUCTION
THE TOPIC: “RECRUITMENT OF FINANCIAL CONSULTANT” at
HDFC STANDERD LIFE INSURANCE COMPANY
At HDFC Standard Life Insurance Company, I was assigned with the topic -
“Recruitment of Financial Consultants” for my project work.
Financial Consultant of the company reserve the right to sale the policy to any
prospect client and will be entitled to receive the fixed percentage of
commission. There are some other rewards also such as incentive, bonus and
tour packages etc.
REASON FOR SELECTION OF THIS TOPIC
The financial sector is one of the booming sector, some of the experts say that
only 20% of Indian population is insured by some or the other institute, which
means 80% population is still uninsured.
Therefore, there are bright prospects in this field. Secondly this field requires
no capital investment by the FC
The Financial consultants are very important tools of the company through
which it achieves its goal of selling its policies. No doubt it is difficult to
convince a person and sale a single policy but since these consultants have
their own contacts by which they able to sale the policy. I am having good
contacts and relations with highly status and rich people. More over me am
[5]

6. having extrovert and humorous nature personality. That is why I accepted
this topic.
IMPORTANCE OF THIS TOPIC IN CURRENT SENERIO
In today’s competitive world, it is difficult to survive, not only for the small
individuals but the big corporate giants also. In order to survive in this field
insurance companies are emphasizing on recruitment of efficient financial
consultants and also doing research how they can increase their clientage
Today Life Insurance Industry is rapidly growing industry. India has large
untapped market of insurable population. It is estimated that there will be no
decline in the life insurance business at least for the next 30 years.
Moreover, Indian insurance market is getting matured very fast. As far as the
maturity of market is concerned, India was lagging behind by 25 years from
developed countries, but today this gap has now been reduced to only 5 years.
So there is continuous demand for certified professional consultants.
IMPORTANCE OF THIS TOPIC FOR THE COMPANY
After interacting with company’s marketing head I came to know that the
present financial consultants working for the company are not performing up
to the companies expectations. They are not achieving their targets and
company’s growth has been slow down. Company is now badly interested to
know the root cause that if there is any flaw somewhere in process and policy
of recruiting financial consultants.
FINANCIAL CONSULTANTS
Financial Consultants are the sources of the company who have their own
relations and personal contacts among common public, through them, they
sale company’s policies, and generate business. In general they are called
‘agent’.
Qualification for Financial Consultant
General Qualification
[6]

7. • He should be at least 12th passed.
• He should complete IRDA (Insurance Regulatory Development Authority)
training.
• He should clear the IRDA exam.
• He should have a minimum age of 18th years.
Legal Qualification
Section 42(4) of the amended Insurance Act, 1938 states an agent to be one
who is not: A minor.
• Found to be sound mind by a court of competition jurisdiction.
• Found guilty of criminal background.
• Found guilty of having knowingly participated in or connived at any
fraud /dishonesty or misrepresentation against an insured.
And are thus committed to being a long-term player in the life insurance
industry.
Some other criteria:
• He should have a good personality
• He should have communication skill & convincing power.
• He should have good personal relations & contacts.
What the company Expect from financial Consultant?
[7]

8. 1- Committed people who have the drive, determination and ability to
become professional financial consultants.
2- Ability to sell a range of financial products.
3- Devote a time and energy during training.
4- Sell at least 5 policies each month once after licensed with company.
We look forward to a long term mutually beneficial relationship
Work field of financial consultant:
The FC is the interface between the customer and insurance company. The
agent should be able to accomplish the following service.
• To contact clients of different class –
- Higher income group clients
- Middle income group client
- Lower income group client and lower.
• Assessing and analyzing the clients risk profile - According to their
age group, income and status and risk involved etc.
• Finding the best product or products available in the market as per
his requirement.
• Negotiating the best deal available.
[8]

9. • Continuity of service throughout the period of insurance.
• To submit to the company his daily or periodically report based on
client’s feed back and market observations.
• To keep eye on policies of other like companies in the field.
• To suggest to his company the amendments he require in the policies
• Financial Consultants approach business houses and other industries
to sell insurance policies either to their employees or their
customers.
Strategies applied by Financial Consultants
Strategies Employed to achieve the target are as follows:-
 Telecalling
 Contacting the person directly (interview)
 Collect references.
Some important steps to make effective telecalling:-
1. Choose the right time to call
2. Open the call in a friendly and positive way.
3. State the name, position and company name.
4. Check the prospect has time to speak.
[9]

10. 5. State the reason for the call.
6. Clearly succinctly explain how the meeting will be benefiting the
prospect.
BENEFITS OF BEING A FINANCIAL CONSULTANT:
Financial consultant, the right way to start career:
As a financial consultant the role will be to identify prospective customer. You
will makes presentation, as to how you can help analyses their financial needs,
provide customize financial solution to cater to their respective needs and
conduct reviews on regular basis to keep customers on thank.
Easy way to start on career:
Zero investment: There is no start-up capital. Be an own boss with a flexible
working environment, unlimited earning potential and the opportunity to be
part of world class sales team.
Flexible work timings, part time or full time: FCs can work whenever he
likes and from whereeve4r he like, FCs can work full time depending on their
convenience its like no other job however, the time.
Sunrise industry: Life insurance in India has a huge potential for growth
Statistics reveal that only 25% of the insurable population in India is insured
and those insured are in need of still higher insurance cover. The over 100%
growth displayed by private life insurers indicates this huge untapped
potential.
Strong Partnership:
A powerful brand – HDFC Standard Life Insurance:
[10]

11. We were the first private life insurance company to be granted a license by
IRDA.
We have been rated by business world magazine. As Indies most respected
private life insurance company 2004.
We have grown over 130% in the last and more than 8 Lakhs policy holder.
HDFC standard life insurance has one of the highest brand recalls of around
80%
My interest in doing my Project work with HDFC because of the following
reasons
 PROFESSIONAL TRAINING PROGRAMS AND CONTINUID
GUIDANCE TO FC’S AT HDFC SLIC
At HDFC standard training is an inherent element of our support system for
FCs. Some of our training and support initiative are as:
IRDA Training: Online training of 100 hrs. Prepares for career as FCs and
enables to pass the IRDA examination. After the IRDA license, first step
towards a successful career as a FC.
Basic Training and Induction: Independence of work experience, this
training will give perfect knowledge about the insurance industry along with
comprehensive knowledge about the insurance along with comprehensive
knowledge abut HDFC SLIC Product.
Disha training: This is a professional sales skill program eased by us to one
selling skills. Those programs enable to understand customer need and
provide need based insurance solution. A huge step from an amateur to a true
finance professional.
Advance Training: Once FC have settled down as a FC professional we will
continuously upgrade capability and knowledge through sophisticated
training program, fit for this dynamic world of financial products and markets.
[11]

12. UNMATCHED SUPPORT:
Marketing activity support to make task easier.
 Advertising and sales promotion activities throughout the year.
 Customer friendly broachers and sales aid to help in selling insurance
solutions to customers.
 24- Hours information support, to help track the performance and
income, 24 hours online website support.
ADVERTISEMENT AND SALES PROMOTION
Film opens in the compound of a Daughter: “Dad”. Father: “Bolo”
house. Father is checking something Daughter: “Nayi car lene mein hee
inside the bonnet of an old small car. bhalaai hai.” Dad nods in agreement
His daughter, around 27-28 years old, without looking up. Dad: “Hmmm…”
is working on a lap top next to him
[12]

13. Daughter continues affirmatively as Dad looks at her and asks.
she signs on a cheque. Dad: “Huh, Badi kyon?”
Daughter: “Aur wo bhi badi wali.”
Daughter, walks towards him with Dad goes back to checking the engine
swinging hand in air and says. and says in a light hearted tone.
Daughter: “Kyonki Toolika Sharma Dad: “Aur Extra paise dad dega kya?”
chahti hai uske dad style se travel Daughter replies firmly: “Nahi. Mere
kare.” dad ki beti.”
And hands him the cheque. Dad looks Daughter: “Relax dad, plan kiya.”
at the cheque and questions. Dad doesn’t know what to say: “Par...”
Dad (seriously): “Itne paise aaye
kahaan se?”
Dad doesn’t know what to say as he Mother enters with tea. She senses
looks at the cheque. something serious and questions
Daughter pleads: “Please…dad” them. Mother: “Aree Kya hua?”
[13]

14. Father looks at her and says Super: Unit Linked Savings Plans
emotionally. MVO: “Unit Linked Savings Plans
Dad: “Car badi ho gayi, aur beti bhi.” from HDFC Standard Life.
Daughter smiles with pride. zimmedari nibhao, Aaj bhi kal bhi
www.hdfcinsurance.com: Customer and Financial
Consultants Friendly Website
HDFC Standard Life's Web site is functional and practical. It may not have such
frills as a personal finance calculator or brilliant graphics, but surely highlights
the features of its products effectively.
The site layout is neat and the absence of banner ads (this being a self-
supported corporate site) enables quick page loads. Links on the menu bar are
static across different page views, making for mnemonic and easy access. The
site map showcases all the pages. The hyperlinks are collapsible so as to
represent the resources in a hierarchy. This tells you how the site is organised
and the logical links to each page.
The homepage is spartan, the layout is uncluttered and contains links to
collapsible menu items that take you to different sections of the page. The
menu bar is divided into segments covering the company's insurance
products, buying a policy (an `offline' transaction), making contact with the
[14]

15. company representatives, providing links to the joint venture partners. The
company's agents have an exclusive `consultant corner'. The home page, like
that of other contemporaries, features a scrolling applet that lists the
company's achievements.
Every page is appended with a link to IRDA — in case you need to catch up on
the fine print. The company also apparently distinguishes the types of
feedback — those with complaints can go the `complaints' section, while for
others, there is the feedback page.
The Insurance Products zone features a page on the need for life insurance.
This feature buttresses the logic with a hypothetical example. The zone also
profiles the company's individual and group insurance products complete
with their constituent riders and exclusions. Illustrations in the form of
indicative premium tables follow. However, the Tax Benefits page is bereft of
how the sections of the I-T Act actually work to exempt your premiums and
benefits from the incidence of tax.
The `Contact Us' Section is divided into several virtual carrels. The Careers
Section announces vacancies in the company, if any, and lists the job profiles.
Resume can be submitted online.
The `Ask Us' Section is meant to address your queries. The `Be our Agent'
section solicits you to be the company's representative by allowing you to
register online. As an alternative, the section also lists the addresses of the
company's branch offices across the country, which is also useful to the
company's prospective and existing customers.
The `Buy a Policy' Section locates an agent nearest to you and helps schedule
an appointment. This is in line with the company's strategy of priming its
agents to act more as financial planners, helping you select a product you
need.
The Consultant Corner showcases a premium calculator. However, this
section is off limits to general access as it requires username and password
inputs from the company's agent.
All in all, this is a Web site that confirms to the law of averages. No frills but
functional. This is one site anybody can access without an eye for those
visually elusive links. The site does a good job of showcasing HDFC Standard
Life's products.
[15]

16. Web sites of the day have started including resources that educate and
entertain simultaneously. If this trend is anything to go by, corporate sites too
better ship up, as a powerful online presence will help immensely in the
future.
Some Thing about HDFC Standard Life Insurance Company
Introduction to Company
THE NAME - HDFC Standard Life Insurance Company
INCORPORATION OF HDFC STANDARD LIFE INSURANCE CO. LTD.:
The company was incorporated on 14th August 2000 under the name of HDFC
Standard Life Insurance Company Limited.
Their ambition from the beginning was to be the first private company to re-
enter the life insurance market in India. On the 23rd of October 2000, this
ambition was realized when HDFC Standard Life was the first life company to
be granted a certificate of registration.
HDFC are the main shareholders in HDFC Standard Life, with 81.4%, while
Standard Life owns 18.6%. Given Standard Life's existing investment in the
HDFC Group, this is the maximum investment allowed under current
regulations.
HDFC and Standard Life have a long and close relationship built upon shared
values and trust. The ambition of HDFC Standard Life is to mirror the success
of the parent companies and be the yardstick by which all other insurance
companies in India are measured.
HDFC Standard Life Insurance Company Ltd. is one of India’s leading private
life insurance companies, which offers a range of individual and group
insurance solutions. It is a joint venture between Housing Development
Finance Corporation Limited (HDFC Ltd.),
India’s leading housing finance institution and one of the subsidiaries of
Standard Life plc, leading providers of financial services in the United
Kingdom.
[16]

17. Both the promoters are well known for their ethical dealings and financial
strength
Financial Expertise
As a joint venture of leading financial services groups, HDFC standard Life has
the financial expertise required to manage your long-term investments safely
and efficiently.
Range of Solutions
We have a range of individual and group solutions, which can be easily
customized to specific needs. Our group solutions have been designed to offer
you complete flexibility combined with a low charging structure.
Strong Ethical Values:
HDFC is an ethical and Cultural Organization. False selling or false
commitment with the customers is not allowed.
Most respected Private Insurance Company
HDFC was awarded No-1 Private Insurance Company In 2004 by the World
Class Magazine Business World. Integrity, Innovation and Customer Care.
MILESTONES IN THE HISTORY
 HDFC is India’s leading housing finance institution and has helped build more
than23, 00,000 houses since its incorporation in 1977.
 In Financial Year 2003-04 its assets under management crossed Rs.36,000Cr.
 As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The
depositor base now stands at around 1 million depositors.
 Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year
[17]

18.  Awarded The Economic Times Corporate Citizen of the year Award for its
longstanding commitment to community development.
 Presented the ‘Dream Home’ award for the best housing finance provider in
2004 at the third Annual Outlook Money Awards
 HDFC Standard Life Insurance is the first private life insurance company to be
granted a license by IRDA
 Rated as the "Best New Insurer - 2003" by Outlook Money magazine, India’s
number 1 personal finance magazine
 Rated by ‘Business world’ as ‘India’s Most Respected Private Life Insurance
Company’ in 2004.
 Has the highest brand recall, close to 80% (Source: AC Neilson ORG MARG,
April 2005)
 Has one of the widest branch networks with offices in over 100 cities servicing
over 440 towns
OBJECTIVE OF THE COMPANY
 Focus on the productivity of each consultant, corporate or individual,
while stressing on the quality of proposals
 Quick roll out of Products
 Efficiency of Operations
 Meet Social & Rural sector obligations
[18]

19. COLLABORATIONS & AFFILIATIONS:
SUBSIDIARY AND ASSOCIATE COMPANIES:
 HDFC Bank
 HDFC Mutual Fund
 HDFC Standard Life Insurance Company
 HLSIL
 HDFC Chubb General Insurance Company Ltd .
 Intel net Global Services Ltd .
 Other Companies Co-Promoted by HDFC
 Financial Information with regard to Subsidiary Companies
Why HDFC is better for my Project…?
The prevailing companies in the field of the same business are
Life Insurance Corporation, Bajaj Allianz, ICICI Prudential Life, Birla
Sun life etc. I preferred HDFC SLIC because of the following reasons
1. Investment returns: investment returns and business growth provided
by HDFC is validated by bajaj Capital report. HDFC pacify the need of
invertors up to healthy level and make the strong relationship with
them.
2. Financial Background and Experience: HDFC existing in the market
since 1977. It has a very handsome experience in the field of finance
[19]

20. because it completely involved in finance Sector only where as the
others are running in many other field also like Reliance (Petroleum,
Textile, Telecom etc.)
3 Ethics and Values: HDFC is an ethical and cultural organization which
prevents the false selling and prohibits the false commitment to the
customer.
4 Sales Force: Properly trend licensed and Educated People are the
strength of the company. So that they could give the best customer
service.
5 Huge branch network HDFC is having 450 branches in all over the
Country.
[20]

21. 7. Online accessibility: It makes the process faster and make the
customer delighted.
8. Work Culture
Learning and Development Initiatives
It believes that the best way of shaping a strong HDFC SL for tomorrow is
to invest in their best resource: their people. People who will take this
organization into the future and will hold the key in helping the company
reaches the challenging goals that it has set for itself. Our Learning &
Development initiatives are aimed at both functional and behavioral
[21]

22. development.
Compensation & Benefits
Well-being of employees is their utmost objective. The compensation and
benefits offered are best in the industry and are aimed at not only
attracting but also retaining the best talent. Rewards for each position
are based on performance, potential, and market value.
It offer other benefits as well, such as provident fund, gratuity and a
hospitalization insurance coverage program that covers not only the
employee but his/her family as well. The employees, who complete two
years of service, can avail of housing and education loans facility at
discounted rate. It encourages their employees to go for further
education. For their employees’ convenience all common processes like
compensation details, reimbursement, leave applications, travel
planning, updating personal information, etc. are automated through the
extensive use of technology.
QUALITY POLICY
 SECURITY: Providing long term financial security to our policy
holders will be our constant endeavor. We will be doing
this by offering life insurance and pension products.
 TRUST: We appreciate the trust placed by our policy holders in us.
Hence, we will aim to manage their investments very carefully and
live up to this trust.
 INNOVATION: Recognizing the different needs of our customers,
we will be offering a range of innovative products to meet these
needs.
[22]

23.  INTEGRITY
 CUSTOMER CENTRIC
 PEOPLE CARE “ONE FOR ALL AND ALL FOR ONE”
 TEAM WORK
 JOY AND SIMPLICITY
PRODUCT SCOPE
HDFC Standard Life offers a bouquet of insurance solutions to meet every
need.
The company caters to both, individuals as well as to companies looking
to provide benefits to their employees.
For individuals, the company has a range of protection, investment,
pension and savings plans that assist and nurture dreams apart from
providing protection. The customers can choose from a range of products
to suit their life-stage and needs.
For organizations they have a host of customized solutions that range
from Group
Term Insurance, Gratuity, Leave Encashment and Superannuation
Products. These affordable plans apart from providing long term value to
the employees help in enhancing goodwill of the company.
The products of the company are categorized into various sections which
are as follows :
A. INDIVIDUAL PRODUCTS
Term Assurance Plan
[23]

24. Loan Cover Term Assurance Plan
Home Loan Protection Plan
B. GROUP PRODUCTS
C. RURAL PRODUCTS
D. SOCIAL PRODUCTS
E. TAX BENEFITS
For Individuals, HDFC Standard Life has a range of protection,
investment, pension and savings plans that assist and nurture dreams
apart from providing protection. Customer can choose from a range of
products to suit his life-stage and needs.
For Organizations, HDFC Standard Life has a host of customized
solutions that range from Group Term Insurance, Gratuity, Leave
Encashment and Superannuation Products. These affordable plans apart
from providing long term value to the employees help in enhancing
goodwill of the company.
Individual Products:
At HDFC Standard Life realize that not everyone has the same kind of
needs. Keeping this in mind, varied range of products that customer can
choose from to suit all needs. These will help secure customer future as
well as the future of family.
Health & Protection Plans:
Customer can protect his family against the loss of his income or the
burden of alone in the event of his unfortunate demise, disability or
sickness. These plans offer valuable peace of mind at a small price.
HDFC Standard Life Protection range includes Term Assurance Plan &
[24]

25. Loan Cover Term Assurance Plan.
• Critical Care Plan
• SurgiCare Plan
Investment Plans:
HDFC Standard Life Single Premium Whole of Life plan is well suited to
meet long-term investment needs. HDFC Standard Life provides with
attractive long term returns through regular bonuses.
 Single Premium Whole Of Life plan
 Unit Linked Wealt Maximiser Plus
Pension Plans:
HDFC Standard Life Pension Plans help secure financial independence
even after Retirement. Pension range includes Personal Pension Plan,
Unit Linked Pension, and Unit Linked Pension Plus Savings Plans.
 Personal Pension Plan
 Unit Linked Pension
 Unit Linked Pension Plus
 Unit Linked Plus
 Unit Link Pension II
 Unit Linked Pension Maximiser II
Savings Plans:
HDFC Standard Life Savings Plans offer flexible options to build savings
for future needs such as buying a dream home or fulfilling children’s
immediate and future needs.
Endowment Assurance Plan
Assurance Plan
Savings Assurance Plan
Children’s Plan
Money Back
Unit Linked Endowment
Unit Linked Endowment Plus
[25]

26. Unit Linked Endowment Suvidha
Unit Linked Endowment Suvidha Plus
Unit Linked Endowment
Winner
Unit Linked
Endowment II
Unit Linked Endowment Plus II
Unit Linked Young Star
Unit Linked Young Star Plus
Unit Linked Young Star Suvidha
Unit Linked Young Star Suvidha Plus
Unit Linked Young
Star II
Unit Linked Young Star Plus II
Unit Linked Young Star
Champion
Unit Linked Enhanced Life Protection II
SimpliLife
Group Products:
 Group Term Insurance,
 Group Variable Term Insurance
 Group Unit Linked Plan,
 Gratuity Group Unit Linked Plan,
 Superannuation Group Unit Linked Plan
 Leave Encashment
Life Stages
HDFC offers products as per the life stages of the customers and their
respective needs
[26]

27. Your insurance need will change as your life does, from starting to work
to enjoying your golden years and all the stages in between. Each one of
these stages may pose a different insurance need/cover for you. In this
section, we have drawn up the basic life stages and help you analyze
various insurance needs accordingly.
LIFE STAGES & NEEDS IN HAT STAGES
STAGE 1: YOUNG & SINGLE
It is an important stage where one lays down the foundation of a
successful life ahead. Take advantage of the time and power of
[27]

28. compounding to ensure that you build up your dreams. Start saving early
NEEDS:
 Save for Home & Wedding
 Tax Planning
 Save for Golden Years
STAGE 2: JUST MARRIED
Marriage brings about a significant change. New dreams and new
opportunities also bring in additional responsibilities. While both of you
look forward to a happy and secure life, it is equally important to ensure
that eventualities don’t come in the way of shaping your dreams.
NEEDS:
 Planning for home / securing your home loan liability.
 Save for vacation.
 Save for your first child.
STAGE 3: RESPONSIBLE PARENTS
Once you have children, your need for life insurance is even more. You
need to protect your family from an untoward incident. Ensure your
protection umbrella takes into account the future cost of securing your
child’s dream. You will want life to go on for your loved ones, and having
enough life insurance is a way to help ensure that.
[28]

29. NEEDS:
 Provide for children's education
 Safeguarding family against loan liabilities
 Savings for post-retirement
STAGE 4: LIFE AFTER RETIREMENT
While you are busy climbing the ladder of success today, it is important
for you to take time and plan for your life after retirement. Having an
early start for retirement planning can make a significant difference to
your savings. Think about your golden years even before you have
reached them. The key is to think ahead and plan well using your time
and money.
NEEDS :
 Provide for regular income post retirement
 Immediate Tax benefits
 Lead a secure, independent and comfortable life style in your
retirement years.
ORGANIZATION HIRARCHY
[29]

30. [30]
Zonal
Manager
Regional
Manager
M D
Chairman
Alternative
Channel
Retail
Marketing
Human
Resorce
Territory
Manager
Team
Manager
HR
Executive
Territory
Manager
Branch
Manager
Operative
Channel
Branch
Manager
Business Dev.
Manager
Operation
Manager
Sale Dev.
Manager
Channel
Executive

31. STEPS FOR RECRUITMENT OF FINANCIAL CONSULTANT
Pre-take off steps
1.Proper Planning – to fix target of number of trainees to be recruited
 To select proper time of recruitment. It should be the time
when maximum candidates are available. It should be the
time when the youth are looking for jobs. It should be the
time when the board or university exams recently end.
 To select area from where the maximum candidate will be
available. It should be the area where the number of
educated unemployed are available
 Proper publicity and awareness among the candidates and in
the area where the candidates are available. It may be
through print media, through seminars, through roadside
stalls, personnel convincing in educational institutions
 Fixing of training time and training period- Such a time
should be select when candidates have clear opportunity to
come for recruitment test, simultaneously the period of
training should be minimum, generally lengthy training
period does not attract mass. It also to be considers that the
training and period should not be heavy on the pockets of
the candidates.
 Venue of the test and training – venue should be such which
reflect the good image of the company. It easily
approachable and infrastructure should be comfortable and
helpful there should be good proper arrangements for sitting
of candidates arrangement of proper drinking water and
light and shed.
[31]

32.  It also be considered that training may not be board to the
candidates. The planner should adopt some steps which can
give entertainment and enjoyment moments to the
candidates.
 Personnel who are recruiting the candidate should be smart
well dress and sweet speaking they should not be harsh in
their behavior and they should have a good communication
skill
 To make procedure how the test or interview will be
conducted.
 To prepare the list of documents will be required from the
candidate – which documents will be required in original
and which by photocopy.
 It should also be planned that whether there will be any fee
or security for the test or interview. My opinion is that it
should be nil or very minimum. Refundable security is
justified.
 To fix remuneration or stipend for the candidates during
the training period as well as salary and other perquisites
for the who joins the company after completing the training
period
Steps at the time of recruitment – All the steps taken at the time
planning should be taken into consideration strictly at the time of
recruitment.
 The restrictions imposed on the candidates called for test
and interviews should be easy and minimum. The
instructions should not create any horror or problem to
the candidate.
 It should be taken into mind that test of interview
[32]

33. consume less time.
Steps after the recruitment –
 Briefing to the selected candidates – the candidate selected should be briefed in
a very easy and well accepted manner about the followings that is:
[33]

34.  Brief history of thee company
 Object of the company
 Rules and regulations of the company
 Points on Do and do not in the company premises and out side
 Duties assign to the candidate
 Training – Training should be plan in such a manner that
candidate should get good, right and easy training. The
candidate should not board, steps should be taken to training
should be easy going, there should be proper break time and there should be
arrangements for tea or light refreshments for the trainee, proper space should be made available
for the trainee where they can pass there spare time if any, proper arrangements for recreations
and entertainment should be made, a cell should be create from where the trainee could get
proper literature and equipment /tools helpful to the trainee. Latest techniques and equipments
like audio-visual system and projectors, conference or class room should be used.
 The faculty should be well qualified and experienced, and come with
full preparation having charts diagrams pictures and other materials. For this purpose IRDA can be
contacted who provides the concerned material.
 There should be a fix remuneration be fixed by the company
for the regular income of financial consultants.
 Finally when the training period is over there should be a good
memorable farewell for the trainees.
OBJECTIVES & SCOPE OF STUDY
[34]

35. PROBLEM OF RECUITMENT OF FINANCIAL CONSULTANTS
The main problem is that after recruiting well qualified consultants having
good knowledge and talent still not able to perform up to the expectation
level of company,
The question here arises is their performance is not up to the mark even after
giving the full marketing support?
PROBLEMS TO STUDY
 Why youth are not interested in this field
 Finding the loopholes in selecting and recruiting the financial consultant
 To find the different way of recruiting and selecting the Financial
Consultants who can produce more and fruitful results.
 Why recruited people leave the job very shortly?
 To attract more and more Financial Consultant and to promote the
benefits and facilities which are being provided by HDFC Standard Life
to its Financial Consultants
 To study the awareness of this field among the society.
 To determine the need and purpose of Financial Consultant.
[35]

36.  To offer suggestions based upon the findings.
GEOGRAPHICAL STATIONS
The same problem was with the all other branches of HDFC even out of the
Jaipur city.
The management is conducting the same study on a big ground while my
contribution is tiny. Though my sample size was confine but geographical area
was huge, including Jaipur and Delhi and some adjacent areas too and the
application of out put from the research are going to be wide across the
nation.
METHODOLOGY OF STUDY
 Meeting Peoples
 Collection of Data by
 Primary - filling up the questionnaire
 Secondary
 Analyses and interpretation of data
 Finding Conclusion
 Some Suggestions
IN SEARCH OF TRUTH
[36]

37. EXPLORING THE INFORMATION AND DATA:
1: Primary data: All the, Insurance Agents, working professionals, youth,
housewife etc. were personally visited and interviewed. They were the main
source of Primary data. The method of collection of primary data was direct
personal interview and in some cases it was telephonic interview also with the
help of a structured questionnaire. For this a structured questionnaire was
framed as it is less time consuming, generates specific and to the point
information, easier to tabulate and interpret. In questionnaires there were
objectives as well as theoretical, both the types of questions were provided
where ever it required to judge the real thinking of the people.
1: Secondary Data: It was collected from internal sources. The secondary
data was collected on the basis of organizational file, official records, news
papers, magazines, management books, preserved information in the
companies database and website of the company.
SAMPLING METHOD
I applied sampling technique for collecting the data. I ask some sample
peoples of different places to get an over view of the problem. I used this
technique because it is easy, less time consuming and best suited for me.
 Sampling Units: Chartered Accountants, Tax Consultants, Lawyers,
Business Man, Professionals, common man and villagers and House
Wives of Jaipur and adjacent areas and Delhi.
 Sample Technique: Random Sampling.
 Research Instrument: Well Structured Questionnaire.
[37]

38.  Contact Method: Personal Interview and telephonic interview.
SAMPLE SIZE
My sample size for this project was 180 respondents. Although it is not a big
number, but still enough for judging the thinking and flow of society and for
reaching the conclusion.
My Achievements in This Project
I. Achieve the target level of five FC’s
II. A Detailed Study For Recruitment of Financial Consultants
III. Increase in confidence level.
IV. Made more and more people aware about my companies Products
(Policies)
DATA ANALYSIS, INTERPRETATION AND PRESENTATION
1. Your Age?
AGE No. of
respondent
Percentage
18-25 yearsNo. of respon 40 23%
26-30 years 65 36%
31-35 years 60 33%
36 and above 15 8%
Total 180 100%
Base 180 respondents
[38]

39. Interpretation
From the table and graph above it can be seen that
• 23% respondent’s age are 18 to 25 years.
• 36% respondent’s age are 26 to 30 years.
• 33% respondent’s age are 31 to 35 years.
• 8% respondent’s age are 36 to above years.
2. Educational Qualification?
Category No. of
Respondents
Percentage
Under Graduate 30 17%
Graduate 100 56%
Post Graduate 50 27%
Total 180 100%
[39]

40. Interpretation
From the table and graph above it can be seen that
 17% respondents are under graduate.
 56% respondents are Graduate.
 27% respondents are Post graduate.
3. Marital status?
Cetegory No.of
Respondent
Percentage
Married 40 23%
Unmarried 140 77%
Total 180 100%
Interpretation
From the table and graph above it can be seen that
 23% respondents are Unmarried.
 77% respondents are married.
[40]

41. 4. Your Occupation?
Category No.of
Respondants
Percentage
Business 35 20%
Professionals 60 33%
Service 65 36%
Unemployed 20 11%
Total 93 100%
Interpretation
From the table and graph above it can be seen that
 20% respondent’s Occupation is Business.
 33% respondent’s Occupation is Profession.
 36% respondent’s Occupation is Service.
 11% Respondents are unemployed
5. Your annual household income?
Category
No. of
Respondent Percentage
Nill 10 5%
[41]

42. Up to Rs.40000 30 16%
Up to Rs.1 lakh 40 23%
Up to Rs.2 Lakh 50 28%
Up to Rs.4 lakh 30 16%
Above Rs.4 Lakh 20 12
Total 180 100%
Interpretation
From the table and graph above it can be seen that
 5% respondent’s annual household income is Nill.
 16% respondent’s annual household income is up to Rs.40000.
 23% respondent’s annual household income is up to Rs.1 lakh.
 28% respondent’s annual household income is up to Rs.2 lakh.
 16% respondent’s annual household income up to Rs.4 lakh.
 12% respondent’s annual household income more than Rs.4 lakh
6. Are you a member of a yoga club/gym.?
Category No. of Respondent Percentage
Yes 100 56%
No 80 44%
Total 180 100%
Interpretation
From the table and graph above it can be seen that
• 56% respondents are member of a club/gymkhana.
• 44% respondents are not member of a club/gymkhana.
[42]

43. 7. What is your perception about insurance sector?
Category No. of
Respondent
Percentage
Hard and Lucrative 40 22%
Hard But not Rewarding 65 36%
Smooth and Rewarding 55 31%
No Idea 20 11%
Total 180 100%
Interpretation
From the table and graph above it can be seen that
• 22% respondent’s perception about insurance sector is Hard &
lucrative.
• 36% respondent’s perception about insurance sector is hard but not
rewarding.
• 31% respondent’s perception about insurance sector is Smooth &
rewarding.
• 11% respondent’s perception about insurance sector that they have no
idea.
8. Do you know about HDFC Standard Life Insurance?
Category No. of
Respondent
Percentage
Yes 150 83%
No 30 17%
Total 180 100%
Interpretation
From the table and graph above it can be seen that
83% respondent’s are known about HDFC Standard life insurance.
17% respondent’s are not known about HDFC Standard life insurance.
[43]

44. 9. From whom you came to know about HDFC SLIC?
Category No. of
Respondent
Percentage
TV Commercial 70 46%
News paper 40 27%
Any Recommendations 25 17%
Any other 15 10%
Total 150 100%
10. Do you have any Insurance Policy?
Category No. of
Respondent
Percentage
Yes 60 33%
No. 120 67%
Total 180 180%
Interpretation
From the table and graph above it can be seen that
33% respondents have insurance policy.
67% respondents do not have insurance policy.
11. Name of Insurance Company?
Category No. of
Respondent
Percentage
LIC 80 44%
ICICI PRU. 28 15%
HDFC SLIC 37 21%
MAX NEWYORK 15 8%
TATA AIG 20 11%
TOTAL 180 100%
[44]

45. Interpretation
From the table and graph above it can be seen that
 44% respondent’s are insured by LIC.
 15% respondent’s are insured by ICICI.
 21% respondent’s insured by HDFC SLIC.
 8% respondent’s insured by MAX NEWYORK.
 11% respondent’s insured by TATA AIG.
12. On which Company you trust most?
Category No. of
Respondent
Percentage
LIC 130 72%
ICICI PRU. 15 8%
HDFC SLIC 20 11%
TATA AIG 05 3%
MAX NEW YORK 10 6%
TOTAL 180 100%
Interpretation
From the table and graph above it can be seen that
 72% People trust LIC
 8% People trust ICICI PRU.
 11% People trust HDFC SLIC
 3% People trust TATA AIG
 6% People trust MAX NEWYORK
[45]

46. 13. Do you know about HDFC Standard Life Insurance recruitment
policies related to financial consultant?
Category No. of
Respondent
Percentage
Yes 54 30%
No 126 70%
Total 180 100%
Interpretation
From the table and graph above it can be seen that
• 30% respondent’s are known about HDFC Standard Life Insurance
recruitment policies related to financial consultant.
• 70% respondent’s are not known about HDFC Standard Life Insurance
recruitment policies related to financial consultant.
15. Do you want to work part time or full time with HDFC SLIC as a FC?
Category No. of
Respondent
Percentage
Yes 85 57%
No 65 43%
Total 150 100%
SWOT ANALYSIS
Strengths-
 First private life insurance company who got license by IRDA .
 Company with largest distribution network among the private life
insurers
[46]

47.  Recently voted as ‘India’s most respected private insurance company’
by Business World
Weakness-
 Less number of branches compare to nearest competitors.
 Many people are not aware about HDFC SLIC in rural areas
 Every employee does not have enough knowledge about insurance
products and commission rates
Opportunities-
 Eighty percent of India's 1.1 billion people have no insurance cover, so
there is huge opportunity of life insurance in India .
 People are being aware about investment, so the investment point of
view there is huge opportunity for ulip products
Threats-
 Many big companies like , max network life insurance , ING vaisya are
trying to capture market
 Sensex downfall is big threat for Ulip link products
CONCLUSIONS
HDFC Standard Life, the insurance arm of HDFC is expected to go on stream.
Promoted by HDFC & Standard Life, already has good number of employees on
board and is recruiting Financial Consultants heavily to take the headcount to
many more. It is increasing its client through its attractive schemes and offer.
[47]

48.  After completion of this project I came to know the main problem in
recruitment of financial consultants are lack of interest of youth in this
field because of other carrier options which are more fruitful and
glamorous.
 Low scope of carrier growth is also one reason why peoples are not
interesting in this field.
 Less number of people trust on private companies, majority of people
trust on government companies like LIC.
 The FC explore there business mainly up to the level of personnel
relations and contact. After that their growth of business and output
takes the down ward trend.
 The project opportunities provided was market segmentation and
identifying prospective clients in potential geographical location and for
recruiting them as financial consultant so to explore new Business
Opportunity.
 Through this project, it could be concluded that people are not much
aware about the various benefit of being Financial Consultant that are
currently prevailing in the insurance industry.
 Insurance was considered as unsought good which require hard core
selling, but in changing trend in income and people becoming financially
literate, the demand for insurance is increasing day by day. So, it is the
company that first approaches gets its share of reward.
[48]

49.  Proper after sale service can help the advisors to generate more
business.
 Fixing a regular minimum wages to the FC’s may help in recruitment
and retention of FC’s in the company
Gradually people are realizing the fact that insurance is not a necessary evil
but means to attain worry free life.
 This activity much attract unemployed people as for them a source of
income is a great help for developing there future. Company’s
promotional activities for recruiting Financial Consultant are also very
less.
 So, at last the conclusion is that there is tough competition ahead for the
company from its major competitors in terms of number of Financial
Consultants.
Last but not the least I would like to thank HDFC SLI for giving me an
opportunity to work in the field of Financial Consultant. I hope the company
finds my analysis relevant.
SUGGESTIONS
Finally some recommendations for the company are as fallows:-
 To make people aware about the benefit of becoming HDFC Standard
Life’s Financial Consultant, following activities of advertisement
should be done through
1. Advertisements through Electronic and Print Media.
2. Hoarding & Banners.
3. Stalls in Trade Fares
4. Distribution of leaflets containing details information.
[49]

50. 5. Company can recruit sales promoters so that maximum information can be
provided to the potential client.
 Company should bring such policies which can create confidence among
the society for the private insurance companies
 By making this field more glamorous and by providing a good scope of
carrier growth company can attract more FC’s
 The company should take measures towards income for their senior
FC’s who have given to company certain amount of business.
 By showing additional and alternative income source along with various
schemes for Financial Consultant in the company so that more and more
FC can be recruited.
 By fixing a fixed regular income for the FC’s
 Free life cover for every active Financial Consultant.
 Discounted rate premium for its family members.
 Make people understand about the meaning of the IRDA authorization
and its validity.
 Company should organize the program in the society, so that people will
be aware about the company Separate time slot for Working
Professionals, House Wives and Retired people.
[50]

51.  Agency of non-life products should also be provided along with life.
 Company should open more branches in different cities
LIMITATIONS
Every work has its own limitation. Limitations are extent to which the process
should not exceed. Limitations of this project are:-
 Time Limitation - The project was constrained by time limit of 42 Days.
 Mindset of people may very depending upon their age, gender, income
etc.
 Getting appointment from the concern person was very difficult because
of the tight schedule.
 Place Limitation – It was also difficult task to reach the peoples at the
places far away.
 Resources Limitations - As stipend, money was not given properly and
on time it was difficult to continue the project work without proper
financial resources and telephone services were also unavailable after
office hours
ENCLOSER
1. QUESTIONNAIRE
QUESTIONNAIRE
Dear Sir/Madam,
[51]

52. I am a student of University Commerce College, Jaipur and presently doing a
market survey “RECUITMENT OF FINANCIAL CONSULTANTS” AT HDFC SLIC.
I request you to kindly fill the questionnaire below and I assure you that the
data generated shall be kept confidential.
Name: ………………………………………………………………………..
Address: ……………………………………………………………………..
Contact No :®………………( O)……………… (M)………………………
City: ………...............Pin: ………………….State: ……………………….
E-Mail:……………………………………………………………………………
1. Your Age: ____________________
2. Education Qualification.
 Undergraduate
 Graduate
 Post graduate
3. Marital Status.
 Married
 Single
No. of Children, if : __________
4. Number Of year’s Are You in Jaipur/Delhi.
 Less than five year’s
 More than five year’s
5. Occupation.
[52]

53.  Business
 Profession
 Service
(Please mention below the type of business/profession you are in incase of
service please mention your organization name and designation)
6. Your annual household income.
 Nil
 Up to Rs.40000
 Up to Rs.100000
 Up to Rs2 Lakh
 Up to Rs.4 Lakh
 Above Rs.Lakh
7. Are you a member of a Yoga club/gym.?
 Yes
 No
If yes, Name of the club /gym_______________________________________
8. What is your perception about insurance sector?
 Hard & Lucrative
 Hard but not rewarding
 Smooth &rewarding
 No idea
[53]

54. 9. Do you know about HDFC SLIC?
_________________________________________________________________________
10. From whom you came to know about HDFC SLIC?
 TV Commercial
 News paper
 Any Recommendations
 Any other
11. How do you find marketing and sales promotion activities of HDFC
SLIC?
12. Do you have any insurance policy?
 Yes
 No
13. Name your insurer company?
LIC ICICI
HDFC SLIC OTHERS
If others, please specify___________________________________________________
14. Are you satisfied with the company?
 Yes
 No
Reason specify_________________________________________________________
[54]

55. 15. On which company is you trust more?
LIC HDFC SLIC
ICICI TATA AIG
Mention their best
quality_________________________________________________________________________
16. Do you want to work part time or full time with HDFC SLIC as a
financial consultant?
 Yes
 No
17. What do you expect from the company as an employee? (Salary,
Incentive, Timings)
18. Do you know about HDFC SLIC’s recruitment policies related to
financial consultant?
 Yes
 No
Date:
Place:
Signature
Thank You
2. BIBLIOGRAPHY
1. BOOKS AUTHORS
 Life Insurance – By insurance Institute of India
[55]

56.  Research Methodology
2. NEWS PAPERS
• Times of India
• DNA
3. WEBSITES
 www.hdfcinsurance.com
 www.google.com
 www.irda.com
3. ABBREVIATIONS
1- CI- Critical Illness
2- SLIC- Standard Life Insurance Company.
3- FC- Financial Consultant.
4- SDM- Sales Development Manager.
5- BDM- Business Development Manager.
6- CFC- Certified Financial Consultant.
7- LA- Life Assured.
[56]

57. 8- SA- Sum Assured.
9- ADB- Accidental Death Benefit.
[57]