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  • ICICI Prudential Life Insurance

    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.
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    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
    Health insurance plans
    • ICICI Pru Heart Cancer Protect
    • ICICI Prudential Smart Health Cover
    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
    Traditional Savings/Money Back plans
    • ICICI Pru Cash Advantage
    • ICICI Pru Savings Suraksha
    • ICICI Pru Assured Savings Insurance Plan
    • ICICI Pru Future Perfect
    Retirement plans
    • ICICI Pru Easy Retirement
    • ICICI Pru Immediate Annuity
    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
    Rural plans
    • ICICI Pru Sarv Jana Suraksha Micro Insurance Plan
    • ICICI Pru Anmol Bachat

     

    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)
    • Minimum policy term - 5 years
    • Maximum policy term - 20 years
    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
    • For regular pay policies - 5, 10, 15, 20, 25, and 30 years
    • For single pay policies - 5 and 10 years
    ICICI Pru Life Raksha
    • Minimum sum assured - Rs.50,000
    • Maximum sum assured - Rs.5 lakh
    • For regular pay policies - 5 years

     

    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
    ICICI Prudential Smart Health Cover
    • Maximum sum assured - Rs.25 lakh
    • Minimum policy term - 10 years
    • Maximum policy term - 30 years

     

    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
    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
    • 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
    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)
    • 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
    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
    • For single-premium policies, the policy term will be 10 years
    • For five-year policies, the policy term will be 10 years
    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  
    • Minimum policy term - 10 years
    • Maximum policy term - 25 years
    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
    • 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

    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
    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
    • 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

    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

    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
    ICICI Prudential Life Insurance
    ICICI Prudential Life Insurance
    ICICI Prudential Life Insurance Savings Suraksha

    © 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

    BEWARE OF SPURIOUS PHONE CALLS & FICTITIOUS/FRAUDULENT OFFERS

    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

    News About ICICI Life Insurance

    • Net Profit of ICICI Prudential Life Insurance for Q2 at Rs.300 Crore

      ICICI Prudential Life Insurance, a private life insurance provider - has recorded its net profit for the September quarter to stand at Rs.300 crore. This marked a drop in the net profit by 28.5% on an year-on-year basis due to a higher new business strain. A new business strain generally arises when the premium paid after the completion of a contract is not sufficient to cover the initial expenses which includes acquisition costs and any mathematical reserve that the insurer might need to set up at that point. According to the Managing Director and Chief Executive Officer at ICICI Prudential Life Insurance, N. S. Kannan, the value of new business has witnessed a growth by 41.5% on an year-on-year basis to amount to Rs.590 crore during the first half of the financial year 2018-19. He has further explained that despite the volatile nature of the markets, the opportunities in both protection and savings continue to increase for life insurance providers. Kannan also addressed the crisis due to the defaults in repayment by the Infrastructure Leasing & Financial Services (IL&FS) Group stating that ICICI Prudential Life Insurance does not have any exposure to the group.

      Furthermore, the net earned premium of ICICI Prudential Life Insurance witnessed a growth by 16.2% on an year-on-year basis with Rs.7,601 crore during the second quarter of the current financial year. On the other hand, the investment income of the company reduced by 54% to Rs.1,370 crore during in the second quarter of the current financial year owing to the volatile market conditions. The annualised premium equivalent (APE) of the company has witnessed a growth by 6.2% percent on an year-on-year basis to stand at Rs.1,985 crore in the second quarter of FY 2018-19. In terms of the product mix, 85% of it is unit-linked insurance, 8% is protection, and the rest are other traditional products. During the first half of the financial year 2018-19, protection APE registered a growth of 77.3% on an year-on-year basis to stand at Rs.266 crore, while the 13th month persistency was recorded to be steady at 85.2% at the same period of time. The 49th month persistency increased to 63.7% in the first half of the current financial year as opposed to the recorded 59.8% in the first half of the previous financial year. The assets under management (AUM) of ICICI Prudential Life Insurance witnessed a rise by 12% on an year-on-year basis to remain at Rs.1.46 lakh crore. On the other hand, the life insurer has announced an interim dividend of Rs.1.60 for every share.

      29 October 2018

    • ICICI Have Three Years to Reach 25% Public Holding Norm

      ICICI Prudential Life Insurance and its promoters have 3 years to meet SEBI’s public holding norms, according to a report.

      ICICI Bank and Prudential Holdings’ shares in the company will be reduced following their IPO, with ICICI Bank holding 54% and Prudential holding 20%.

      The IPO, set for the 19th-22nd of September, 2016, will see the bank dilute 12.63% of its stake in the life insurance company.

      The ICICI CEO and MD, Ms. Chanda Kochhar, has stated that the bank’s long term plan is to divest some of its stake in the life insurance company. She further stated the bank is working towards achieving the new norms set out for IPO’s for insurance companies in 2015, with the life insurer now ready to be listed on the exchanges.

      16 September 2016

    • ICICI stakes sold to insurance firms

      Private sector ICICI Bank has sold stakes from its insurance ventures. ICICI Lombard, which is the general insurance arm, sold 9% of its stakes, while from ICICI Prudential 2% stakes amounting to around Rs 2,200 crore were sold. The transfers were completed on March 31, 2016.

      In a statement issued, ICICI Lombard General Insurance Company sold 9% of its shareholdings to Fairfax Financial Holdings, its joint venture partner. An additional 9% stakes, estimated to around Rs 1,550 crore, was acquired by Prem Watsa-run Fairfax Financial Holdings. Post this transaction, the company values at Rs 17,225 crore. The Fairfax holding in ICICI Lombard has gone up to 35%.

      ICICI Bank, in another stake transfer, sold ICICI Prudential Life Insurance Company’s 2% stake to Compassvale Investments Pte Ltd. Compassvale Investments is an indirectly wholly-owned subsidiary of Temasek, which is Singapore-based investment Company. ICICI Bank received Rs 650 after this stake transfer, valuing the company at Rs 32,500 crore.

      After the completion of stake transfer, ICICI Bank will have 68% of share holdings in both the insurance arms. The foreign joint venture partner, Prudential Plc, will maintain its current holding which is approximately 26%

      11 April 2016

    • ICICI Lombard to Settle 8.5 Lakh Claims This Financial Year

      A senior ICICI Lombard official said the insurer would settle 8.5 lakh motor insurance claims during 2016-17. Last year, the company settled 7.4 lakh claims in the segment.

      The number of claims are reported to have gone up especially after the floods in Tamil Nadu in November 2015. Claims under the non-life insurance in general is reported to be around Rs. 700 crore because of the Tamil Nadu floods, ICICI Lombard General Insurance Chief Underwriting, Claims and Reinsurance, Sanjay Datta told PTI.

      A majority of the claims that are likely to be settled in this fiscal fall under the own-damage category. ICICI Lombard gets around 45 per cent of its total premium collection from motor insurance.

      23 January 2016

    • FIPD to take call on 14 FDI proposals on January 14

      The Foreign Investment Promotion Board (FIPB) announced that it will take up 14 foreign investment proposals on January 14. The FDI proposals include ICICI Prudential Life Insurance, ICICI Lombard General Insurance Co., drugmaker CIPLA and Euronet Services India among others.

      The board, which recommends foreign investment proposals for government approval, is scheduled to meet next week for the first time in 2016. The panel, headed by Economic Affairs Secretary Shakikanta Das, had cleared four investment proposals worth Rs 1,810 crore at the last meeting on December 29 2015 and deferred the decision to increase foreign shareholding from 26 per cent to 49 percent on a further four investment proposals.

      14 January 2016

    • ICICI Prudential Life Insurance Company Launches 3 in 1 Product

      ICICI Pru iProtect Smart is a 3 in 1 product offered by ICICI Prudential Life Insurance Company Limited. This comprehensive product offers 3 benefits which is providing cover for critical and terminal illnesses, cover against death and cover against accidental death and disability.

      Although the product cannot replace the loss and devastation of the breadwinner of the family, it does provide financial security to the family through an insurance product which combines the cover for Life, Health and Accidents.

      Puneet Nanda, Executive Director of ICICI Prudential Life Insurance Company Limited says that earlier customers would have to purchase insurance covers for life, accidental death and critical illness separately but with the introduction of the iProtect Smart, customers can get the combined benefits in one single product at an affordable price.

      He also added that the product is not a typical term product and the customers have flexibility to increase the cover at pivotal milestones such as during times of marriage or when welcoming a new child and so on.

      21 December 2015

    • ICICI Prudential Life introduces iProtect Smart

      ICICI Prudential Life Insurance has launched ICICI Pru iProtect Smart - a single product that combines the benefits of life, health and accident insurance by offering cover against death, critical and terminal illness, accidental death and disability due to accident.

      Puneet Nanda, Executive Director, ICICI Prudential Life, stated that the iProtect Smart was introduced to help customers purchase a single product at an affordable price instead of purchasing separate insurance covers individually. Customers can also increase their cover at important points during their lifetime, like marriage, childbirth etc.

      The premium for critical illness cover remains the same throughout the policy term while there is also the option to avail of death benefits as monthly income over 10 years.

      20 December 2015

    • ICICI Bank ready to sell 6% of its stake in life insurance

      The board of directors of ICICI Bank has agreed to the sale of 6% of its stake in its life insurance subsidiary, ICICI Prudential Life Insurance Company. The price targeted for this sale has been set at Rs. 1,900 crore which puts the value of the company at about Rs. 32,500 crore. Of the proposed sale of the 6% shareholding, 4% will be sold to Premji Invest and the remaining 2% to Temasek, an investment company based out of Singapore, through its subsidiary Compassvale Investments Pvt Ltd. While the sale has been approved by the board of directors, it still awaits the seal of approval from the government.

      18 November 2015

    • ICICI Bank to sell ICICI Prudential Life Insurance stock to PremjiInvest and Compassvale Investments Pte Ltd.

      ICICI Bank Ltd said that its board of directors has approved the sale of its stake in its life insurance joint venture, ICICI Prudential Life Insurance. 4% stake is being taken over by PremjiInvest and its affiliate. 2% stake will be taken by Compassvale Investments Pte Ltd., which is a wholly-owned subsidiary of Temasek Holdings, Singapore. The value of the deal is said to be Rs.1,950 crore. After the takeover, ICICI Bank will hold 68% share of ICICI Prudential Life Insurance. The transaction is as per the government and regulatory approval. 9% share was taken over by Fairfax Financial Holdings for Rs.1,550 crore on 31st October, 2015.

      17 November 2015

    • ICICI bats for tech upgradation of services to beat competition

      ICICI Lombard is increasingly looking to offer solution-oriented products via greater use of technology as a business enabler to enhance customer satisfaction, opined Sanjay Datta, Chief, Underwriting, Reinsurance & Claim, ICICI Lombard GIC Ltd recently.

      Admitting that the general insurance sector in India continues to be under-penetrated, Datta said ICICI Lombard is increasingly focusing on providing innovative services based on customer needs and specific requirements. Also, simplification in terms of product delivery and model of distribution is important to attract and retain customers, he said.

      In a move to increase its product penetration, ICICI Lombard has been reaching out to its clientele via alternate distribution channels. ICICI Lombard is also extensively using analytics to map the changing preferences of customers, Datta added.

      27 August 2015

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    ICICI Prudential Life Insurance Reviews

  • Page 1 of 41 1 2 3 4 5
    • ICICI Prudential Life Insurance
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance from ICICI Prudential. It is a cash back policy and the policy coverage and the plan benefits are fine and satisfactory. The payment options are also fine as I can pay my premium with ease online. The customer support is supportive.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 11, 2018
    • ICICI Prudential Life Insurance
      "Good policy for life"
      0.5 5.0/5 "Blown Away!"
      Through mobile I came to know about the ICICI prudential life insurance, for the coverage of Rs. 1 lakh, I paid the premium of Rs.20 it has accidental cover and critical illness cover but there is no medical cover. The Policy documentation process is easy.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Dec 10, 2018
    • ICICI Prudential Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken a term plan with ICICI preudential from last 2 years, i pay a premium of Rs 525 every month for this insurance policy and i am convenient with the payment options. Customer service was good and they explained every detail of this policy.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Dec 10, 2018
    • ICICI Prudential Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a term insurance with ICICI Prudential and I need to pay a premium till the age of 60 and it has a coverage till the age of 65 to 66. The policy coverage is for 50 lakhs and if anything external happens to the policy holder another 50 lakhs is provided to the family. The premium is economical, it is of 897 which goes through on a ECS basis.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 05, 2018
    • ICICI Prudential Life Insurance
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      My experience with the life insurance policy from the ICICI PRUDENTIAL and it is a annual term plan policy. The maturity period of this policy is for 10 years where i am paying my premium of r yearly once for this policy. The process of getting the policy is good.
      Was this review helpful? 1
      , jaipur
      Reviewed on Nov 27, 2018
    • ICICI Prudential Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my life insurance with ICICI prudential , i have been taken two policy through icici , the premium they have charged me was nominal, and premium amount for one policy they are charging up to yearly basis, and for another policy on half yearly basis, overall service is good.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 25, 2018
    • ICICI Prudential Life Insurance
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      I have applied for the life insurance which is TERM PLAN with the ICICI PRUDENTIAL. The process of getting and also applying the life insurance is simple process with this ICICI. The service is very good also i am satisfactory with this loan.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 24, 2018
    • ICICI Prudential Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have a Term insurance policy from the ICICI Prudential . The premium gets auto debited from the account. I Don't have to worry about the due date because ECS makes life so much easier. Their services also needs improvements. They need to raise their standards and provide quality support all the customers.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 21, 2018
    • ICICI Prudential Life Insurance
      "Bad service"
      0.5 2.0/5 "Expected more"
      I have been holding my health insurance with ICICI BANK , there service is not up to the mark, they dont keep there words they said that my policy coverage was up to 10,00,000 but i check it it was just for 3,00,000 only and even what is benefit in this health insurance they have not explained me and i do not have idea how much hospital they have tie up.
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 16, 2018
    • ICICI Prudential Life Insurance
      "Good for Investment"
      0.5 5.0/5 "Blown Away!"
      I generally pay Rs.30,000 per annual year for the life insurance. The plan which I taken with ICICI Prudential is called money back. Every yearly I get the bonus amount from the coverage value. After completion of tenure period I get the entire benefits.
      Was this review helpful? 1
      , bhubaneshwar
      Reviewed on Nov 02, 2018
    • ICICI Prudential Life Insurance
      "Good For investment Purpose"
      0.5 5.0/5 "Blown Away!"
      I invested on Well builder plan its ULIP cum life insurance with ICICI prudential. Really the plan is amazing, as of now I just keep paying the premium then I get the return after five years based on the market price. Now the growth is fine, the bank invested 65% of amount in equity and remaining on govt security, total term of the policy for 10 years then I get the policy cover around Rs. 20 lakhs.
      Was this review helpful? 1
      , delhi
      Reviewed on Nov 01, 2018
    • ICICI Prudential Life Insurance
      "Good For investment Purpose"
      0.5 5.0/5 "Blown Away!"
      I just making premium I don't know how its going to work out in term plan, if I go out of the world my parents will get the life cover of Rs. 40 lakhs. But I get some bonus amount every five years, its insurance cums ULIP plan. I used to make the payment through standing instruction.
      Was this review helpful? 0
      , delhi
      Reviewed on Nov 01, 2018
    • ICICI Prudential Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I am having a life insurance policy with ICICI prudential from last 3 years, i pay an annual premium of Rs 1 lac for this insurance policy. The name of the policy is Guaranteed Wealth Process Plan. I am not sure about the returns but the maturity period is after 10 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 01, 2018
    • ICICI Prudential Life Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have take life insurance from Icici Prudential life insurance which has good returns , This coverage also covers accidental and critical illness coverage . I make the payment yearly through online This policy coverage is for life time had to renew yearly . I used to get income tax benefits. Their customer service explained well about the policy.
      Was this review helpful? 0
      , greater noida
      Reviewed on Nov 01, 2018
    • ICICI Prudential Life Insurance
      "Excellent card"
      0.5 5.0/5 "Blown Away!"
      I have been holding my life insurance with ICICI prudential insurance, i have been applied this insurance recently, they cover good and i pay my premium from debit card and premium per year they charge me is 1500 rupees, there service is good and they use to update me if any new policy is add.
      Was this review helpful? 3
      , bangalore
      Reviewed on Oct 16, 2018
    • ICICI Prudential Life Insurance
      "Average service"
      0.5 3.5/5 "Pretty good"
      I have been holding Term insurance with ICICI prudential insurance , i have been applied this insurance recently, i don't have much idea as about the benefits which they provide me and i pay premium per years 650 for 50 lakh policy and it automatically get debited from my account.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 15, 2018
    • ICICI Prudential Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I am holding the education policy which gives the coverage for my daughter. The maturity period of this policy till my daughter attain 20 years. I have been using from last 6-7 years. The premium i am paying for this policy is for yearly once through online.
      Was this review helpful? 1
      , new delhi
      Reviewed on Oct 08, 2018
    • ICICI Prudential Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      The name of the policy that i am holding from the ICICI PRUDENTIAL is pension plan where it gives the coverage for me and my spouse. The maturity is for this policy is for 30 years. The premium that i pay for yearly once. Documentation part was done online.
      Was this review helpful? 2
      , new delhi
      Reviewed on Oct 08, 2018
    • ICICI Prudential Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      Based on good policy benefits i have chosen Money back policy from ICICI PRUDENTIAL INSURANCE . They have explained the policy benefits and features . This policy has good benefits with goos coverage of 5 years . The premium amount is also too economy .
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 07, 2018
    • ICICI Prudential Life Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have take life insurance from ICICI PRUDENTIAL . Am satisfied with the premium amount which am making the payment This policy covers accidental and critical illness coverage . Their customer representative explained the policy very well before taking the policy . Overall its Best policy .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 06, 2018
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