WELCOME
TO MAX NEWYORK LIFE INSURANCE COMPANY
ABOUT MAX NEWYORK LIFE INSURANCE COMPANY
• ITS ONE OF THE LARGEST LIFE INSURANCE COMPANY IN THE WORLD • ESTABLISHED IN 1845 IN NEW YORK • FORTUNE 100 COMPANY • 215BILLION $ UNDER MANAGEMENT • FIRST COMPANY TO INSURE WOMEN AT THE SAME RATE AS MEN IN 1894 • FIRST COMPANY TO COVER DISABILITY BENEFIT • FIRST COMPANY TO ISSUE COVER FOR UNEMPLOYMENT/CUSTOMER CARE ON WEB • FIRST TO OFFER CASH DIVIDENTS TO POLICY HOLDERS
ABOUT THE COMPANY
• IN INDIA MAX CAME IN 1985 • IS OWNED BY TOP MOST PHARMA COMPANY RANBAXY GROUP • WITH MORE THAN 100 OFFICES IN INDIA IN 73 CITIES • AND ONE OF THE MOST REPUTATED LIFE INSURANCE COMPANY IN INDIA
ABOUT THE PRODUCTS
• • • • • • MAX HAS GOT 14 PLANS WITH 7 RIDERS WITH MORE THAN 500 COMBINATIONS TO SUIT EVERY ONES REQUIREMENT MAX ALSO DEALS IN MEDICLAIM OFFERS 3 DIFFERENT HEALTH INS PLANS OUR TEAM WORKS ON ROUND THE CLOCK TO IMPROVE OUR PRODUCTS TO SUIT THE BASIC REQUIREMENTS • RECENTLY TIED UP WITH LEADING BRITISH HEALTH INSURANCE COMPANY TO LAUNCH HEALTH INSURANCE PRODUCTS IN INDIA
TO BECOME AN AGENT
• IRDA HAS REQUIREMENT OF COMPULSORY 50 HRS OF TRAINING • EARLIER IT WAS 100HRS IN 2007 GOT AMENDED AND REDUCED TO 50HRS, IC33 • MAX NEWYORK LIFE INSURANCE COMPANY TAKES IT OWN RESPONSIBILITY TO TRAIN ITS AGENTS AND ASSOCIATES NOT LIKE OTHER COMPANY’S OUTSOURCING THE TRAINING . WE VALUE OUR ASSOCIATES • WE HAVE SKILLED PEOPLE TO BRING OUT THE BEST IN YOU TO MAKE YOU UNDERSTAND INSURANCE BUSINESS WELL
HOW IT WILL WORK
• TO BECOME AN AGENT YOU WILL BE PROVIDED BASIC TRAINING TO CLEAR YOUR IRDA EXAM AND GET YOUR AGENTS LICENCE • YOU WILL BE PROVIDED TRAINING OF ALL THE PRODUCTS MAX IS SELLING • YOU WILL BE REPORTING TO AN EXPERIENCED SALES MANAGER FOR ALL THE DAY TO DAY SUPPORT GUIDANCE • YOU WILL BE BACKED BY OUR SKILLED TRAINING TEAM TO CLEAR YOUR DOUBTS • WE WILL LIKE TO WORK WITH YOU AS A TEAM
ABOUT LIFE INSURANCE
• INSURANCE BUSINESS IS UNDERSTOOD TO BE IN EXISTANCE SINCE 3000BC • THE FIRST INSURANCE COMPANY NAMED THE FIRE OFFICE WAS ESTABLISHED IN LONDON IN 1680 • THE NEED ARISED WHEN MASSIVE FIRE IN LONDON BROUGHT DOWN 13000 HOUSES IN 1666.
INSURANCE BUSINESS IN INDIA
• • • • IN INDIA INSURANCE BEGAN IN 1818 ORIENTAL LIFE INSURANCE COMPANY 1870 FIRST INDIAN COMPANY CALLED BOMBAY MUTUAL ASSURANCE SOCIETY IN MUMBAI STARTED • LIC CAME INTO EXISTANCE IN 1956 • LAW WAS AMENDED IN 1999 • LIC DID NOT HAVE THE EXCLUSIVE PRIVILIDGE TO DO LIFE INSURANCE
OTHER COMPANIES FORAYED THEIR BUSINESS IN INDIA
• AFTER THE AMENDMENT IN 1999 • MORE THE A DOZEN INSURANCE COMPANIES VENTURED THEIR BUSINESS IN INDIA • LIKE MAX NEW YORK, TATA AIG,BAJAJ ALLIANZ,BIRLA SUN LIFE,RELIANCE,ICICI PRUDENTIAL,
PURPOSE & NEED OF INSURANCE
• THE BUSINESS OF INSURANCE IS RELATED TO THE PROTECTION OF THE ECONOMIC VALUES OF ASSETS ,EVERY ASSETS HAS A VALUE • ASSETS ARE INSURED,BECAUSE THEY ARE LIKELY TO BE DESTROYED OR MADE NONFUNCTIONAL BEFORE THE EXPECTED LIFE TIME • THROUGH ACCIDENT,FIRE FLOODS,EARTHQUAKES,TSUNAMI • IF THE LOSS IS NOT FINANCIAL INSURANCE MAY NOT BE POSSIBLE
CLASSIFICATION OF RISKS
• RISK ARE CLASSIFIED IN VARIOUS WAYS • CRITICAL RISK ARE THOSE WHICH MAY LEAD TO BANKRUPTCY OF THE OWNER IT WOULD HAPPEN IF THE LOSS IS TOTAL • IMPORTANT RISK MAY UPSET FAMILY BUSINESS,FINANCES BADLY,REQUIRING A LOT OF TIME TO RECOVER • UN IMPORTANT RISK LIKE TEMP ILLNESS OR ACCIDENTS • DYNAMIC WHICH HAVE NATIONAL CONSEQUENCES LIKE INFLATION POLITICAL INSTABILITY • STATIC RISKS ARE LIKE FIRE, THEFT
LIFE INSURANCE PRODUCTS
• LIFE INSURANCE PRODUCTS ARE USUALLY REFERRED TO AS PLANS • TERM ASSURANCE PLANS CHEAPEST AND ONLY PAID IN CASE OF DEATH • PURE ENDOWMENT PLANS • WHOLE LIFE PLANS • MONEY BACK PLANS • PENSION PLANS • CHILD ENDOWMENT PLANS • GROUP INSURANCE PLANS
doc_853644126.ppt
TO MAX NEWYORK LIFE INSURANCE COMPANY
ABOUT MAX NEWYORK LIFE INSURANCE COMPANY
• ITS ONE OF THE LARGEST LIFE INSURANCE COMPANY IN THE WORLD • ESTABLISHED IN 1845 IN NEW YORK • FORTUNE 100 COMPANY • 215BILLION $ UNDER MANAGEMENT • FIRST COMPANY TO INSURE WOMEN AT THE SAME RATE AS MEN IN 1894 • FIRST COMPANY TO COVER DISABILITY BENEFIT • FIRST COMPANY TO ISSUE COVER FOR UNEMPLOYMENT/CUSTOMER CARE ON WEB • FIRST TO OFFER CASH DIVIDENTS TO POLICY HOLDERS
ABOUT THE COMPANY
• IN INDIA MAX CAME IN 1985 • IS OWNED BY TOP MOST PHARMA COMPANY RANBAXY GROUP • WITH MORE THAN 100 OFFICES IN INDIA IN 73 CITIES • AND ONE OF THE MOST REPUTATED LIFE INSURANCE COMPANY IN INDIA
ABOUT THE PRODUCTS
• • • • • • MAX HAS GOT 14 PLANS WITH 7 RIDERS WITH MORE THAN 500 COMBINATIONS TO SUIT EVERY ONES REQUIREMENT MAX ALSO DEALS IN MEDICLAIM OFFERS 3 DIFFERENT HEALTH INS PLANS OUR TEAM WORKS ON ROUND THE CLOCK TO IMPROVE OUR PRODUCTS TO SUIT THE BASIC REQUIREMENTS • RECENTLY TIED UP WITH LEADING BRITISH HEALTH INSURANCE COMPANY TO LAUNCH HEALTH INSURANCE PRODUCTS IN INDIA
TO BECOME AN AGENT
• IRDA HAS REQUIREMENT OF COMPULSORY 50 HRS OF TRAINING • EARLIER IT WAS 100HRS IN 2007 GOT AMENDED AND REDUCED TO 50HRS, IC33 • MAX NEWYORK LIFE INSURANCE COMPANY TAKES IT OWN RESPONSIBILITY TO TRAIN ITS AGENTS AND ASSOCIATES NOT LIKE OTHER COMPANY’S OUTSOURCING THE TRAINING . WE VALUE OUR ASSOCIATES • WE HAVE SKILLED PEOPLE TO BRING OUT THE BEST IN YOU TO MAKE YOU UNDERSTAND INSURANCE BUSINESS WELL
HOW IT WILL WORK
• TO BECOME AN AGENT YOU WILL BE PROVIDED BASIC TRAINING TO CLEAR YOUR IRDA EXAM AND GET YOUR AGENTS LICENCE • YOU WILL BE PROVIDED TRAINING OF ALL THE PRODUCTS MAX IS SELLING • YOU WILL BE REPORTING TO AN EXPERIENCED SALES MANAGER FOR ALL THE DAY TO DAY SUPPORT GUIDANCE • YOU WILL BE BACKED BY OUR SKILLED TRAINING TEAM TO CLEAR YOUR DOUBTS • WE WILL LIKE TO WORK WITH YOU AS A TEAM
ABOUT LIFE INSURANCE
• INSURANCE BUSINESS IS UNDERSTOOD TO BE IN EXISTANCE SINCE 3000BC • THE FIRST INSURANCE COMPANY NAMED THE FIRE OFFICE WAS ESTABLISHED IN LONDON IN 1680 • THE NEED ARISED WHEN MASSIVE FIRE IN LONDON BROUGHT DOWN 13000 HOUSES IN 1666.
INSURANCE BUSINESS IN INDIA
• • • • IN INDIA INSURANCE BEGAN IN 1818 ORIENTAL LIFE INSURANCE COMPANY 1870 FIRST INDIAN COMPANY CALLED BOMBAY MUTUAL ASSURANCE SOCIETY IN MUMBAI STARTED • LIC CAME INTO EXISTANCE IN 1956 • LAW WAS AMENDED IN 1999 • LIC DID NOT HAVE THE EXCLUSIVE PRIVILIDGE TO DO LIFE INSURANCE
OTHER COMPANIES FORAYED THEIR BUSINESS IN INDIA
• AFTER THE AMENDMENT IN 1999 • MORE THE A DOZEN INSURANCE COMPANIES VENTURED THEIR BUSINESS IN INDIA • LIKE MAX NEW YORK, TATA AIG,BAJAJ ALLIANZ,BIRLA SUN LIFE,RELIANCE,ICICI PRUDENTIAL,
PURPOSE & NEED OF INSURANCE
• THE BUSINESS OF INSURANCE IS RELATED TO THE PROTECTION OF THE ECONOMIC VALUES OF ASSETS ,EVERY ASSETS HAS A VALUE • ASSETS ARE INSURED,BECAUSE THEY ARE LIKELY TO BE DESTROYED OR MADE NONFUNCTIONAL BEFORE THE EXPECTED LIFE TIME • THROUGH ACCIDENT,FIRE FLOODS,EARTHQUAKES,TSUNAMI • IF THE LOSS IS NOT FINANCIAL INSURANCE MAY NOT BE POSSIBLE
CLASSIFICATION OF RISKS
• RISK ARE CLASSIFIED IN VARIOUS WAYS • CRITICAL RISK ARE THOSE WHICH MAY LEAD TO BANKRUPTCY OF THE OWNER IT WOULD HAPPEN IF THE LOSS IS TOTAL • IMPORTANT RISK MAY UPSET FAMILY BUSINESS,FINANCES BADLY,REQUIRING A LOT OF TIME TO RECOVER • UN IMPORTANT RISK LIKE TEMP ILLNESS OR ACCIDENTS • DYNAMIC WHICH HAVE NATIONAL CONSEQUENCES LIKE INFLATION POLITICAL INSTABILITY • STATIC RISKS ARE LIKE FIRE, THEFT
LIFE INSURANCE PRODUCTS
• LIFE INSURANCE PRODUCTS ARE USUALLY REFERRED TO AS PLANS • TERM ASSURANCE PLANS CHEAPEST AND ONLY PAID IN CASE OF DEATH • PURE ENDOWMENT PLANS • WHOLE LIFE PLANS • MONEY BACK PLANS • PENSION PLANS • CHILD ENDOWMENT PLANS • GROUP INSURANCE PLANS
doc_853644126.ppt