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ICICI PRU Life Insurance Company is the conglomerate of ICICI Bank which is one of the largest private sector banks in India and very successful private international financial company Prudential Plc, a based out of United Kingdom where ICICI Bank has 74%, and 26% of the stake belongs to Prudential Plc. which is in absolute adherence to the government of India rules and regulations. ICICI PRU Life Insurance Company Ltd. was incorporated in 2000 basing its operation mainly in the financial sector. ICICI PRU Life Insurance Company Ltd.
key Products/Revenue Segments include life insurance, health insurance, and retirement plans. ICICI PRU Life Insurance Company Ltd. received the AAA rating in the National Insurer Financial Strength segment by Fitch reviews and ratings. Another noted achievement was when ICICI Prudential was voted as the India's Most-Trusted Life Insurer in the Private sector for 3 consecutive years in a row. ICICI PRU Life Insurance Company Ltd. has also won first prize in 2014 at Qimpro Awards for the digitization project. Additionally, ICICI PRU Life Insurance was awarded the ‘Insurance Company of the Year Award’ in 2011 and was conferred ‘Company of the Year Award’ also in 2011 and was well-deservedly praised by the very reputed insurance journal of India in their regular segment ‘Insurance Review’. The company’s assets had reached over a sum of Rs. 805.97 billion as taken on March 31 in the year 2011. ICICI PRU Life Insurance Company Ltd. boasts a Rs. 124.29 billion as the total premium earnings for the 2014 financial year.
ICICI PRU Life Insurance Company Ltd. is a large cap company that has a market capital of Rs. 51,126.24 Cr. About Rs. 51 Cr of sales value, that is, 79 % of their total sales were recorded only from sale of share and securities compounding to an interest which then contributed to Rs. 12 Cr of sales value, that is, about 18 % of total sales. Their other services had contributed approximately Rs. 2 Cr of sales value, 3.28 % of the total sales all for the financial year by 31 March 2008. The company reported a staggering 5,697.51 Cr of sales for the quarter that ended on 31 December 2016 that is up of about 5.07 compared to sales in the last quarter which was Rs. 5,422.53 Cr.
ICICI PRU Life Insurance Company Ltd. has 2000 branches across the country and a large network of 1100 micro offices that one can approach to review, discuss or buy the policy. ICICI PRU Life Insurance has over 24 bank assurance as their partners for the convenience of their customers. The network of ICICI PRU Life Insurance has reached 1,75,0000 financial advisors and consultants. Call ICICI PRU Life insurance customer care number for quick response and to clarify doubts. ICICI prudential online payment available with several online products that are easy to understand and quick to purchase with hassle-free and transparent transactions. ICICI has recorded a Claims Ratio of 96.20% as in the year 2015-16. Other key features of their plan include:
Pure protection plans include:
1. Term Plan
Plans that are both a savings plan as well as protection plans are:
2. Unit Linked Life Insurance Plans
3. Money Back/ Endowment Life Insurance Plans
4. Retirement Life Insurance Plans
Other policy products available under by ICICI PRU Life Insurance Company Ltd. are:
|Policy Plan||Key Features||Premium Amount||Eligibility|
|Pure Protection||Term Plan||All round protection against death, disease, and disability. Critical cover to 34 illnesses. High accidental cover for up to Rs. 2 Cr||18 to 60 Years|
|iProtect Smart||iProtect Smart: Rs. 3600-Unlimited|
|iCare II||iCare II: Rs. 2400-Unlimited|
|Savings and Protection||Elite Plans||Life cover with customizations to suit your luxury lifestyle. Protect your Wealth and manage your finances. Strive for special things for yourself, and your family with exclusive benefits.|
|Elite Wealth II||Elite Wealth II: Rs. 200000-Unlimited||0 to 70 Years|
|Elite Life II||Elite Life II: Rs. 500000-Unlimited||0 to 69 Years|
|Unit Linked Life Insurance Plans||In absentia life cover to safeguard the future for your loved ones. Better returns than any other plan and without the risk of losing your initial.|
|Guaranteed Wealth Protector||Guaranteed Wealth Protector: Rs. 24000-Unlimited||08 to 70 Years|
|Wealth Builder II||Wealth Builder II: Rs. 24000-Unlimited||0 to 69 Years|
|Smart Life||Smart Life: Rs. 100000-Unlimited||20 to 54 Years|
|Money Back Or Endowment Life Insurance Plans||Regular additional income to protect and secure your family with guaranteed growth of wealth. Enjoy the benefits of massive returns|
|Cash Advantage||Cash Advantage: Rs. 12000-Unlimited||0 to 60 Years|
|Savings Suraksha||Savings Suraksha: Rs. 12000-Unlimited||0 to 60 Years|
|Assured Savings||Assured Savings: Rs. 12000-Unlimited||6 to 60 Years|
|Retirement Plans||Financial security in your retired years with definitive growth of debt funds and equity without losing your capital invested. 101% Returns premiums. Spousal support and savings.|
|Easy Retirement||Easy Retirement: Rs. 12000-Unlimited||35 to 70 Years|
|Immediate Annuity||Immediate Annuity: Rs. 48000-Unlimited||45 to 80 Years|
ICICI PRU Group Plans:
ICICI PRU Rural Plans: