Reduce your taxable income by up to Rs. 1.5 Lakh under Sec.80C
Pay premiums monthly, quartely, half-yearly or annualy
Enhance your cover through riders like permanent disability/accidental death rider
ICICI Prudential Life Insurance is one of the most dominant players in the insurance sectors in India. They are known to offer products such as term insurance plans, endowment plans, etc. in order to match its customers various financial needs.
ICICI Prudential Life Insurance Company (ICICI Prudential Life) is a joint venture between ICICI Bank Ltd., one of India's largest private sector bank, and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential Life was amongst the first private sector life insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority of India (IRDAI).
ICICI Prudential Life's capital infused stands at Rs. 48.16 billion (as of March 31, 2015) with ICICI Bank Ltd. and Prudential plc holding 74% and 26% stake respectively. For the financial year 2015, the company garnered a total premium of Rs. 153.07 billion. The company has assets under management of Rs. 1001.83 billion as on March 31, 2015.
For over a decade, ICICI Prudential Life has maintained its dominant position (on new business retail weighted basis) amongst private life insurers in the country, with an array of products to match the different life stage requirements of customer and enable them to achieve their long term financial goals.
| Term insurance plans |
- ICICI Pru iProtect Smart
- ICICI Pru iCare II
- ICICI Pru Life Raksha
- ICICI Pru POS iProtect Smart
- ICICI Pru POS Life Raksha
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| Health insurance plans |
- ICICI Pru Heart Cancer Protect
- ICICI Prudential Smart Health Cover
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| Unit linked insurance plans |
- ICICI Pru1Wealth Plan
- ICICI Pru Lifetime Classic
- ICICI Pru Elite Life Super
- ICICI Pru Elite Wealth Super
- ICICI Pru Guaranteed Wealth Protector
- ICICI Pru Smart Life
- ICICI Prudential Smart Kid Solution
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| Traditional Savings/Money Back plans |
- ICICI Pru Cash Advantage
- ICICI Pru Savings Suraksha
- ICICI Pru Assured Savings Insurance Plan
- ICICI Pru Future Perfect
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| Retirement plans |
- ICICI Pru Easy Retirement
- ICICI Pru Immediate Annuity
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| Group Plans |
- ICICI Pru Loan Protect
- ICICI Pru Loan Protect Plus
- ICICI Pru Group Term Plus
- Group Gratuity Plan
- Group Superannuation Plan
- Group Leave Encashment
- Group Immediate Annuity Plan
- ICICI Pru Group Loan Secure
- ICICI Pru Group Insurance Scheme for Pradhan Mantri Jeevan Jyoti Bima Yojana
- ICICI Pru Shubh Raksha Credit
- ICICI Shubh Raksha One
- ICICI Pru Shubh Raksha Life
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| Rural plans |
- ICICI Pru Sarv Jana Suraksha Micro Insurance Plan
- ICICI Pru Anmol Bachat
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ICICI Prudential Term Insurance Plans
| Type of the plan |
Basic sum assured |
Policy term |
| ICICI Pru iProtect Smart |
- Minimum sum assured - will be subject to the minimum premium amount
- Maximum sum assured - No limit (subject to underwriting policies)
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- Minimum policy term - 5 years
- Maximum policy term - 20 years
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| ICICI Pru iCare II |
- Minimum sum assured - if age is 60 years with a policy term of 5 years, then the minimum sum assured will be: For option I - Rs.87,423 and for option II - Rs.85,875. If age is 18 years and chosen policy term is 30 years, then minimum sum assured for option I will be Rs.3.6478 lakh and for option II it will be Rs.2.88257 lakh
- Maximum sum assured - No limit is set herein
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- For regular pay policies - 5, 10, 15, 20, 25, and 30 years
- For single pay policies - 5 and 10 years
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| ICICI Pru Life Raksha |
- Minimum sum assured - Rs.50,000
- Maximum sum assured - Rs.5 lakh
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- For regular pay policies - 5 years
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ICICI Prudential Health Insurance Plans
| Type of the plan |
Basic sum assured |
Policy term |
| ICICI Pru heart/cancer protect |
Sum assured must be determined after analysing future treatment costs, hospitalisation costs, additional expenses, and so on |
- Minimum policy term that can be chosen is 5 years. Policyholders can purchase ICICI Pru Heart/Cancer Protect between the ages of 18-65 years
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| ICICI Prudential Smart Health Cover |
- Maximum sum assured - Rs.25 lakh
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- Minimum policy term - 10 years
- Maximum policy term - 30 years
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ICICI Prudential Unit-Linked Insurance Plans
| Type of the plan |
Basic sum assured |
Policy term |
| ICICI Pru1Wealth |
- If entry age = less than 50 years, then minimum sum assured = 1.25 times Single Premium and maximum sum assured = 10 times Single Premium
- If entry age = more than 50 years, then minimum sum assured = 1.10 times Single Premium and maximum sum assured = 1.10 times Single Premium
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5 and 10 years |
| ICICI Pru Lifetime Classic |
- If the entry age of the policyholder is between 0 and 44 years, then the minimum sum assured will be Higher of (10 X Annualised Premium) and (0.5 X Policy term X Annualised Premium)
- If the entry age of the policyholder is 45 years or more, then the minimum sum assured will be Higher of (7 X Annualised Premium) and (0.25 X Policy term X Annualised Premium)
- Maximum sum assured - No limit
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- If the entry age of the policyholder is between 0 and 39 years, then
- Policy term will be 10, 15, to 25 years for a premium payment term of either 7 years or less than 7 years
- If the entry age of the policyholder is between 40 and 44 years, then
- Policy term will be 10, 15, to 20 years for a premium payment term that is either 7 years and above or less than 7 years
- If the entry age of the policyholder is between 45 years and 46 years, then
- Policy term will be 10 years (minimum) and 15 years (maximum) for a premium payment term of less than 7 years or 7 years and more than 7 years
- If the entry age of the policyholder is between 47 years and 55 years, then
- Policy term will be 10 years for a premium payment term of less than 7 years or 7 years and more than 7 years
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| ICICI Pru Elite Life Super |
- For single pay policies: If the entry age of the policyholder is between 0 and 41 years, then minimum sum assured will be 1.25 X Single Premium and maximum sum assured will be 10 X Single Premium. If the entry age of the policyholder is 42 years or more, then minimum sum assured will be 1.25 X Single Premium and maximum sum assured will be 1.25 X Single Premium
- For regular and limited pay policies: If the entry age of the policyholder is between 0 and 44 years, then the minimum sum assured will be Higher of (10 X Annualised Premium) and (0.5 X Policy term X Annualised Premium). If the entry age of the policyholder is 45 years or more, then the minimum sum assured will be Higher of (7 X Annualised Premium) and (0.25 X Policy term X Annualised Premium)
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- For regular and limited pay policies:
- If the entry age of the policyholder is between 0 and 39 years, then:
- For less than 7 years’ premium payment term - the policy terms will be 10, 15, to 30 years
- For either 7 years or more than 7 years’ premium payment term - the policy terms will be 10, 15, to 30 years
- If the entry age of the policyholder is between 40 and 4 years, then:
- For less than 7 years’ premium payment term - the policy terms will be 10, 15, to 25 years
- For either 7 years or more than 7 years’ premium payment term - the policy terms will be 10, 15, to 25 years
- If the entry age of the policyholder is between 45 and 51 years, then:
- For less than 7 years’ premium payment term - the policy terms will be 10, 15, to 20 years
- For either 7 years or more than 7 years’ premium payment term - the policy terms will be 10, 15, to 20 years
- If the entry age of the policyholder is between 52 and 56 years, then:
- For less than 7 years’ premium payment term - the policy term will be 10 years
- For either 7 years or more than 7 years’ premium payment term - the policy term will be 10 years
- For single pay policies:
- If the entry age of the policyholder is between 0 and 24 years, then:
- For Sum Assured Multiple of 1.25 times, the policy term will be 5 to 30 years and For Sum Assured Multiple of 10 times, the policy term will be 5 to 30 years
- If the entry age of the policyholder is between 25 and 31 years, then:
- For Sum Assured Multiple of 1.25 times, the policy term will be 5 to 30 years and For Sum Assured Multiple of 10 times, the policy term will be 5 to 20 years
- If the entry age of the policyholder is between 32 and 37 years, then:
- For Sum Assured Multiple of 1.25 times, the policy term will be 5 to 30 years and For Sum Assured Multiple of 10 times, the policy term will be 5 to 10 years
- If the entry age of the policyholder is between 38 and 41 years, then:
- For Sum Assured Multiple of 1.25 times, the policy term will be 5 to 30 years and For Sum Assured Multiple of 10 times, the policy term will be 5 years
- If the entry age of the policyholder is between 42 and 75 years, then:
- For Sum Assured Multiple of 1.25 times, the policy term will be 5 to 30 years
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| ICICI Pru Guaranteed Wealth Protector |
- For single-premium single pay policies, the sum assured will be 1.25 X Single Premium
- For five-year premium policies, the sum assured will be:
- 10 × Annual Premium, if the age of the life assured is between 8 and 44 years
- 7 or 10 × Annual Premium, if the age of the life assured is between 45 and 54 years
- 7 × Annual Premium, if the age of the life assured is between 55 and 60 years
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- For single-premium policies, the policy term will be 10 years
- For five-year policies, the policy term will be 10 years
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| ICICI Pru Smart Life |
- If the entry age of the life assured is between 20 and 25 years, then the minimum sum assured will be Higher of (10 X Annual Premium) and (0.5 X Policy term X Annual Premium), and the maximum sum assured multiple will be 30
- If the entry age of the life assured is between 26 and 30 years, then the minimum sum assured will be Higher of (10 X Annual Premium) and (0.5 X Policy term X Annual Premium) and the maximum sum assured multiple will be 25
- If the entry age of the life assured is between 31 and 35 years, then the minimum sum assured will be Higher of (10 X Annual Premium) and (0.5 X Policy term X Annual Premium) and the maximum sum assured multiple will be 15
- If the entry age of the life assured is between 36 and 40 years, then the minimum sum assured for him/her will be Higher of (10 X Annual Premium) and (0.5 X Policy term X Annual Premium) and the maximum sum assured multiple will be 15
- If the entry age of the life assured is between 41 and 44 years, then the minimum sum assured for him/her will be Higher of (10 X Annual Premium) and (0.5 X Policy term X Annual Premium) and the maximum sum assured multiple will be 15
- If the entry age of the life assured is between 45 and 54 years, then the minimum sum assured for him/her will be Higher of (7 X Annual Premium) and (0.25 X Policy term X Annual Premium) and the maximum sum assured multiple will be 10
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- Minimum policy term - 10 years
- Maximum policy term - 25 years
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| ICICI Prudential Smart Kid Solution |
- For regular pay policies:
- If the entry age of the life assured is less than 45 years of age, then minimum sum assured for him/her will be Higher of (10 X Annual Premium) and (0.5 X Policy Term X Annual Premium) and maximum sum assured will depend on the respective multiples according to entry age of the life assured
- If the entry age of the life assured is either 45 years or more than 45 years, then the minimum sum assured will be Higher of (7 X Annual Premium) and (0.25 X Policy Term X Annual Premium) and the maximum sum assured will depend on the respective multiples according to entry age of the life assured
- For single pay policies:
- If the entry age of the life assured is equal to 35 years or less than 35 years old, then the minimum sum assured for him/her will be 1.25 X Single Premium and the maximum sum assured will be 10 times that of the single premium
- If the entry age of the life assured is more than 35 years old, then the minimum sum assured for him/her will be 1.25 X Single Premium and the maximum sum assured will be 1.25 times that of the single premium
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- For regular pay policies, the minimum policy term is 10 years and the maximum policy term is 25 years
- For single pay policies, the policy term is 10 years
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ICICI Prudential Traditional Savings/Money Back Plans
| Type of the plan |
Basic sum assured |
Policy term |
| ICICI Pru Cash Advantage |
- If the entry age of the life assured is less than 45 years old, then the sum assured on death multiple will be 10
- If the entry age of the life assured is between 45 and 54 years, then the sum assured on death multiple will be either 7 or 10
- If the entry age of the life assured is more than 54 years old, then the sum assured on death multiple will be 7
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The policy terms are 15, 17 years, and 20 years which will include PPT and the payout term |
| ICICI Pru Savings Suraksha |
- If the entry age of the life assured is less than 45 years old, then the sum assured on death will be 10 times the annual premium
- If the entry age of the life assured is between 45 and 54 years, then the sum assured on death will either be 10 times the annual premium or 7 times the annual premium
- If the entry age of the life assured is more than 54 years, then the sum assured on death will be 7 times than the annual premium
|
|
| ICICI Pru Assured Savings Insurance Plan |
Sum assured on death of the life assured will be 10 times than the annual premium amount |
The policy terms available to individuals are 10, 12, and 12 years |
| ICICI Pru Future Perfect |
- For premium payment term of 5 years, the minimum basic sum assured on death will be Rs.4 lakh
- For a premium payment term of 7 years, the sum assured on death will be Rs.1.8 lakh
- For a premium payment term of 10 years, the basic sum assured on death will be Rs.1.20 lakh
- For a premium payment term of 15 years, the basic sum assured on death will be Rs.96,000
- For a premium payment term of 20 years, the basic sum assured on death will be Rs.84,000
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- For premium payment term of 5 years, the policy terms are 10 to 15 years
- For a premium payment term of 7 years, the policy terms are 12 to 17 years
- For a premium payment term of 10 years, the policy terms are 15 to 20 years
- For a premium payment term of 15 years, the policy terms are 20 to 25 years
- For a premium payment term of 20 years, the policy terms offered are 25 to 30 years
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ICICI Prudential Retirement Plans
| Type of the plan |
Basic sum assured |
Policy term |
| ICICI Pru Easy Retirement |
When the policy matures, or after vesting, the life assured will be qualified to receive the Fund Value or Assured Benefit, whichever is higher in worth |
Life assured may choose to opt for a policy with a policy term of 10, 15, 20, 25 or 30 years. |
| ICICI Pru Immediate Annuity |
Does not provide sum assured at the end of the policy term. This plan, on the other hand, gives out monthly income upon payment of a purchase price. Policyholders have the option to receive the installments either on a monthly, quarterly, yearly, or half-yearly basis |
The policy is essentially purchased to replace income after retirement, hence it does not have a defined policy term |
ICICI Prudential Group Plans
| Type of the plan |
Basic sum assured |
Policy term |
| ICICI Pru Loan Protect |
The minimum sum assured provided under the plan is Rs.5 lakh |
- Minimum policy term - 5 years
- Maximum policy term - 30 years
|
| ICICI Pru Loan Protect Plus |
Gives out a lump-sum amount to the family of the life assured in case of an unfortunate occurrence |
- If it is a reducing cover - one can choose to have a policy term of 5-20, 25 or 30 years
- If it is a 5 or 7-year moratorium, one can choose to have a policy term of 8-20, 25 or 30 years
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ICICI Pru Group Term Plus:
This plan provides financial cover to the members who are a part of the plan. In case of an unfortunate occurrence, the members’ loved ones are provided with lump-sum payments to tide over any financial losses. This plan is most commonly preferred by employers for their employees as it provides a Life Cover for the family members. Some of the benefits offered under the plan are:
- Life cover without the need to submit medical test reports up to the free cover limit.
- Coverage provided to the employees in case of an unfortunate occurrence.
Group Gratuity Plan: This plan is suitable for employers as it gives them the opportunity to pay the gratuity amount to their employees and settle liabilities accordingly. The minimum entry age for an employee is 15 years under this plan, however, the maximum entry age must not exceed 85 years. ICICI Group Gratuity Plan offers a renewal policy on a yearly basis. This means that the policy undergoes auto-renewal on the anniversary.
Group Superannuation Plan: With this plan, employers can choose to provide a pension or superannuation benefits to their employees. The employees are presented with the opportunity to grow their savings according to their individual risk appetite and the plan also provides them with a corpus when they retire.
Group Leave Encashment: This plan takes care of the leave encashment liabilities of employers as it helps them build a savings pool that will ultimately pay out the leave encashment amounts to their respective employees. A flat cover of Rs.1,000 is provided to the employees under this plan. The minimum entry age for an employee is 15 years under this plan, however, the maximum entry age must not exceed 85 years.
Group Immediate Annuity Plan: As the name suggests, this plan is suitable for employers who want to provide retirement benefits to their employees. With the help of this plan, an employer can provide pension benefits to his/her employees, to help them sail through the period of retirement swiftly, without any financial burden. The payouts given to the employees can be yearly, half-yearly, monthly or quarterly, depending on which mode the employer selects.
ICICI Prudential Rural Plans
| Type of the plan |
Basic sum assured |
Policy term |
| ICICI Pru Sarv Jana Suraksha |
- Minimum sum assured that can be opted for - Rs.5,000
- Maximum sum assured that can be opted for - Rs.2 lakh
|
For regular pay policies - policy term is 5 years |
| ICICI Pru Anmol Bachat |
Upon death of the life assured, a sum assured is paid to his/her family to help them tide over financial losses |
- For single premium policies - the policy terms are 5 and 10 years
- For a premium payment term (PPT) of 5 years, the policy term will be 10 years
- For a PPT of 7 years, the policy term will be 10 years
- For a PPT of 10 years, the policy term will be 10 years
- For a PPT of 10 years, the life assured can also choose a policy term of 15 years
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ICICI Prudential Life Insurance Claim Settlement Ratio:
ICICI Prudential Life Insurance Claim Settlement Ratio and Total Earned Premium for the Year 2017-18:
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Claim Settlement RatioÂ
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97.88%Â
|
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Total Earned Premium (in Crore)Â
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Rs.27068.77 croreÂ
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© 2015, ICICI Prudential Life Insurance Co. Ltd Registered Address: - ICICI Pru Life Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025. Insurance is the subject matter of the solicitation. Linked Insurance Products do not offer any liquidity during the first five years of the contract. The Policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year. The lock-in period in this product is five years. On surrender after completion of five years, the surrender value will be the Fund Value including Top up Fund Value, if any. Unlike traditional products, unit linked insurance products are subject to market risk, which affect the Net Asset Values and the customer shall be responsible for his/her decision. The names of the Company, product names or fund options do not indicate their quality or future guidance on returns. Funds do not offer guaranteed or assured returns. For more details on the risk factors, term & conditions please read sales brochure carefully before concluding the sale. Tax benefits under the policy are subject to conditions under Section 80C, 10(10D) and other provisions of the Income Tax Act, 1961. Service tax and applicable cesses will be charged extra by redemption of units, as per applicable rates. Tax laws are subject to amendments from time to time.ICICI Pru iProtect Smart: UIN: 105N151V01, ICICI Pru iCare II: UIN - 105N140V01. Form No.: T38, T39 and T41, ife Growth Fund -SFIN: ULIF 134 19/09/13 LGF 105, Life Secure Fund - SFIN: ULIF 135 19/09/13 LSF 105. ICICI Pru Guaranteed Wealth Protector: Form No.: U98, U99. UIN: 105L143V01, ICICI Pru Wealth Builder II, UIN: 105L139V01, ICICI Pru Smart Life, Form No. UA8, UA9 UIN: 105L145V01, ICICI Pru Elite Wealth II, UIN: 105L140V01. Advt No.: L/II/364/2015-16, ICICI Pru Elite Life II, UIN: 105L141V01, ICICI Pru Cash Advantage Form No.: E10, UIN:105N132V01, ICICI Pru Savings Suraksha Form No.: E11, E12. UIN: 105N135V01, ICICI Pru Assured Savings Insurance Plan Form No.: E18. UIN: 105N144V01, ICICI Pru Easy Retirement Form No.: U96, UIN: 105L133V01
ICICI Prudential Life Insurance Company. IRDAI Regn No. 105.
CIN:U66010MH2000PLC127837.
Trade Logo displayed above belongs to M/s ICICI Bank Ltd & Prudential IP services Ltd which shall be used by ICICI Prudential Life Insurance Company Ltd under Registered License No.105.
ADVT number - W/II/2058/2015-16
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IRDAI clarifies to public that
IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number
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