TABLE OF CONTENTS

History of Insurance: at a glance

Life Insurance in its modern form came to India from England in the year 1818. Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil. All the insurance companies established during that period were brought up with the purpose of looking after the needs of European community and Indian natives were not being insured by these companies. However, later with the efforts of eminent people like Babu Muttylal Seal, the foreign life insurance companies started insuring Indian lives. But Indian lives were being treated as sub-standard lives and heavy extra premiums were being charged on them. Bombay Mutual Life Assurance Society heralded the birth of first Indian life insurance company in the year 1870, and covered Indian lives at normal rates. Starting as Indian enterprise with highly patriotic motives, insurance companies came into existence to carry the message of insurance and social security through insurance to various sectors of society. Bharat Insurance Company (1896) was also one of such companies inspired by nationalism. The Swadeshi movement of 1905-1907 gave rise to more insurance companies. The United India in Madras, National Indian and National Insurance in Calcutta and the Co-operative Assurance at Lahore were established in 1906. In 1907, Hindustan Co-operative Insurance Company took its birth in one of the rooms of the Jorasanko, house of the great poet Rabindranath Tagore, in Calcutta. The Indian Mercantile, General Assurance and Swadeshi Life (later Bombay Life) were some of the companies established during the same period. Prior to 1912 India had no legislation to regulate insurance business. In the year 1912, the Life Insurance Companies Act, and the Provident Fund Act were passed. The Life Insurance Companies Act, 1912 made it necessary that the premium rate tables and periodical valuations of companies should be certified by an actuary. But the Act discriminated

between foreign and Indian companies on many accounts, putting the Indian companies at a disadvantage. The first two decades of the twentieth century saw lot of growth in insurance business. From 44 companies with total business-in-force as Rs.22.44 crore, it rose to 176 companies with total business-in-force as Rs.298 crore in 1938. During the mushrooming of insurance companies many financially unsound concerns were also floated which failed miserably. The Insurance Act 1938 was the first legislation governing not only life insurance but also non-life insurance to provide strict state control over insurance business. The demand for nationalization of life insurance industry was made repeatedly in the past but it gathered momentum in 1944 when a bill to amend the Life Insurance Act 1938 was introduced in the Legislative Assembly. However, it was much later on the 19th of January, 1956, that life insurance in India was nationalized. About 154 Indian insurance companies, 16 non-Indian companies and 75 provident were operating in India at the time of nationalization. Nationalization was accomplished in two stages; initially the management of the companies was taken over by means of an Ordinance, and later, the ownership too by means of a comprehensive bill. The Parliament of India passed the Life Insurance Corporation Act on the 19th of June 1956, and the Life Insurance Corporation of India was created on 1st September, 1956, with the objective of spreading life insurance much more widely and in particular to the rural areas with a view to reach all insurable persons in the country, providing them adequate financial cover at a reasonable cost.

Introduction
SBI LIFE a joint venture between

74%

26%

SBI Life Insurance is a joint venture between the State Bank of India and Cardiff SA of France. SBI Life Insurance is registered with an authorized capital of Rs 1000 core and a paid up capital of Rs 350 carore. SBI owns 74% of the total capital and Cardiff the remaining 26%.

State Bank of India enjoys the largest banking franchise in India. Along with its 7 Associate Banks, SBI Group has the unrivalled strength of over 14,000 branches across the country, the largest in the world. Cardif is a wholly owned subsidiary of BNP Paribas, which is The Euro Zones leading Bank. BNP is one of the oldest foreign banks with a presence in India dating back to 1860. It has 9 branches in the metros and other major towns in the country. Cardif is a vibrant insurance company specializing in personal lines such as long-term savings, protection products and creditor insurance. Cardif has also been a pioneer in the art of selling insurance products through commercial banks in France and 29 more countries.

SBI Life Insurances mission is to emerge as the leading company offering a comprehensive range of Life Insurance and pension products at competitive prices, ensuring high standards of customer service and world class operating efficiency. The company plans to make the insurance buying process quick, simple and based on wellinformed judgment. In 2004, SBI Life Insurance became the first company amongst private insurance players to cover 30 lacks lives. The company expects to carve a niche in the Indian insurance market through extensive product innovation and aims to provide the highest standards of customer service through a technological interface. To facilitate this, call centers have been already installed and help lines will be installed and customers will have access to their accounts through the Internet or through SBI branches. The company proposes to make available ready liquidity to its Life Insurance policies by way of loans at SBI counters. This will make Life Insurance a liquid asset in the financial portfolio of households. SBI Life Insurance is uniquely placed as a pioneer to usher bank assurance into India. The company hopes to extensively utilize the SBI Group as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans, personal loans and credit cards. SBIs access to over 100 million accounts provides a vibrant base to build insurance selling across every region and economic strata in the country. SBI Life has a unique multi-distribution model encompassing Bancassurance, Agency and Group Corporate. SBI Life extensively leverages the SBI Group as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans and personal loans. SBIs access to over 100 million accounts across the country provides a

vibrant base for insurance penetration across every region and economic strata in the country ensuring true financial inclusion. Agency Channel, comprising of the most productive force of more than 20,000 Insurance Advisors, offers door to door insurance solutions to customers.

FINANCIAL UNDERWRITINGS Horizon- II SBI Life - Horizon II is a unique, non participating Unit Linked Insurance Plan in Indian Insurance Industry, where you need not to be a financial market expert. This plan offers the flexibility of Unit Linked Plan along with Automatic Asset Allocation which provides relatively higher returns on your money where as increasing death bench. Twin benefit of insurance cover and market linked returns profits provides higher security to Hassle-free investment management of funds from inception to maturity, Automatic Asset Allocation of funds, automatic rebalancing of funds at yearly intervals, free of cost higher protection, to meet your family financial needs. It is a unique, non-participating Unit Linked Insurance Plan. As per the plan and term chosen by you, SBI Life will invest the net premium amount into each of the funds mentioned. Maha Anand SBI Life - Maha Anand is a simple & convenient unit linked plan, which provides you insurance cover without any medicals. Life begins afresh when you become a parent and when the child takes that first step towards you, the moment is filled with cheer, enthusiasm never felt before. This

moment marks a new beginning in the childs life and theres no looking back after that. The child keeps growing and so are his dreams, aspirations which always aim to reach horizon and you want your child achieve his/her dreams. But at the same time as a proud parent you also want to secure their future against rising cost of education and other necessities. Key Features Twin benefit of market linked returns and insurance cover Simple Joining Process - No medical examination required Option to pay premium, as low as Rs 500 p.m. Choice of 3 fund options to choose from Flexibility to increase your investments, through Top-up Investment Flexibility through Switching and Redirection Options Liquidity through partial withdrawals Attractive Tax benefits under the Income Tax Act, 1961 Unit Plus- II We at SBI Life understand the basic needs for pension plan and give you financial strength to maintain your life style even after the retirement. SBI Life - Unit Plus II Pension plan makes sure that you have regular income after you retire and also helps you to maintain your standard of living.

This is a unit linked pension plan wherein the policyholder chooses an investment period from 5 to 52 years for a vesting age between 50 to 70 years. You can choose to pay either single premium or pay regular premium for the entire policy term. Your contributions are invested into 5 fund options as per your choice. Unit Plus Child Plan We at SBI LIFE understand you better and hence have developed SBI Life - Unit Plus Child Plan to suit you and your needs best. This Plan is meant for parents in the age group of 18-57 having a child between the age group of 0-15 years. Key Features Market related returns to match increasing cost of education Peace of Mind by giving you triple benefits Loyalty units to celebrate your child reaching 18 years New Investment Fund (Equity Optimizer Fund) in addition to existing funds. Pay Premium for a limited period and reap benefits over a long time. Flexible plan which adapts to your changing needs as and when you want.

Pension plan We at SBI Life understand the basic needs for pension plan and give you financial strength to maintain your life style even after the retirement. SBI Life - Unit Plus II

Pension plan makes sure that you have regular income after you retire and also helps you to maintain your standard of living. This is a unit linked pension plan wherein the policyholder chooses an investment period from 5 to 52 years for a vesting age between 50 to 70 years. You can choose to pay either single premium or pay regular premium for the entire policy term. Your contributions are invested into 5 fund option. Key Features Choice to invest & control four different funds as per your risk appetite Choice to invest & control four different funds as per your risk appetite. Flexibility to choose between two options Pure Pension Pension cum Life Cover No medical required for Pure Pension, automatic acceptance facility Flexibility to increase regular contribution Top up payments: any amount, anytime Customize your plan by adding riders 15 days free look period

Smart ULIP In the current volatile market scenario you need a plan which not only protects your investment, but also enables you to get market related returns. SBI Life - Smart ULIP is the perfect answer to your need, and will give you not only Guarantee on select NAVs during the first seven years, but also gives you the added attraction of participating in the market upside. Key Features Guarantee of the highest of select NAVs, during the first seven years on maturity. Investment cum Insurance plan giving market related returns Convenience through shorter premium paying term, giving you a choice between two premium paying terms (PPT) Power of more- Guaranteed Maturity NAV, continues beyond the premium payment term. Innovation structured investment fund-Flexi protect Fund Hassle free plan- we manage your investment, giving you maximum opportunity for growth while protecting your investments against adverse market conditions. Attractive Tax benefits under the Income Tax Act, 1961 Health Products Financial planning is incomplete without planning health insurance. Due to todays hectic lifestyle, improper diet, lack of exercise we are at higher risk of contingencies of untimely serious illnesses. Sudden health problems could have deep hole in your

pockets. Medical science has advanced by leaps and bounds in the last few decades. Theres a definite need to cover for health insurance to reduce the financial burden. SBI Life Insurance features both individual and group products like: 1. Unit Linked Products- this is a single non participating product group that meets both the financial as well as insurance needs. 2. Pension Products- these comprehensive plans help to meet your post retirement financial needs. 3. Pure Protection Products- nobody can predict future. So, any time anything can shatter ones dreams. Pure Protection Products help to keep one safe and secure during these trouble times. SBI Life also offers some protection cum savings products and money back scheme products. SBI also has products for brokers. These products take inspiration from the endeavors of various industries and make your life easy.