ICICI Prudential Life Insurance Company is a joint venture between the ICICI Bank and Prudential Corporation Holdings Limited. The company started its operations in the year 2001. Since then, it has continued to be one of the top Indian life insurance companies in the industry. They operate with the core philosophy of customer centricity and it is evident, considering it was awarded 'Claims & Customer Service Excellence Awards' in Life Insurance Category by FICCI in 2020.
Claim Ratio | 98.58% |
Death Claim Settlement Duration | 1 Day |
Customer Assistance | 24*7 |
Assets Under Management | Rs.1,814.92 billion |
**Last Updated on 02-02-2021
The company offers a wide range of products such as protection plans, savings plans, retirement plans, ULIP plans, among others to meet the requirements of different people. Let's take a brief look at them.
Term Insurance plans provide full protection and financial stability to your family in case of your unforeseen death and allow them to fulfil their future goals. A list of ICICI Prudential Life Insurance term plans are given below:
Plan Highlights
Plans | Age at Entry (as on last birthday) | Policy Term | Maximum Sum Assured |
ICICI Pru iProtect Smart | 18 years to 65 years | 99 years | Unlimited |
ICICI Pru iCare II | 18 years to 65 years | 5 years to 67 years | Unlimited |
ICICI Pru Precious Life | 18 years to 65 years | 5 years-40 years | As per the Board Approved Underwriting Policy |
ICICI Pru Life Raksha | 18 years to 60 years | 5 years | Rs. 5,00,000 |
**Last Updated on 02-02-2021
*The values may change as per the chosen plan/policy option
ICICI Pru iProtect Smart offers 360-degree protection and lets you design your safety net to protect your family's future financially in your absence.
Features:
ICICI Pru iCare II is an affordable term insurance plan that provides protection to your loved ones and ensures that they lead a comfortable life without any financial worries in your absence.
Features:
Option I, where your family will receive the lump sum amount equal to the sum assured chosen by you.
Option II (applicable only for Regular Pay option), where you can choose accidental death benefit equal to the sum assured (chosen by you) up to a maximum of 2 crores.
ICICI Pru Precious Life is specially designed to offer life cover to individuals who have existing health problems such as diabetes, high BP, asthma, and even to those successfully recovered from cancer or other surgeries.
Features:
ICICI Pru Life Raksha provides you and your family with complete financial protection and offers them a lump sum amount that will help them to meet the immediate liabilities that may arise in your absence.
Features:
A fixed, minimum amount called sum assured.
An amount equal to 10 times the annual premium.
105% of the total premiums paid.
Getting diagnosed with a critical illness can cause a lot of stress among you and your loved ones. From getting expensive medical treatments to maintaining financial stability, you must have a health insurance plan. ICICI Heart/Cancer Insurance Plan offers you coverage in such unfortunate scenarios. Let's find out its details-
Plan Highlights
Plans | Age at Entry (as on last birthday) | Policy Term | Maximum Sum Assured |
ICICI Pru Heart/Cancer Protect | 18 years to 65 years | Single Pay: 5 years Regular Pay: 5 to 40 years | Cancer cover : Rs. 50 lakhs Heart cover : Rs.25 lakhs |
**Last Updated on 02-02-2021
Heart attack and cancer are perhaps the deadliest illnesses in today's time. Even though modern medicine can be a lifesaver, it comes at a high cost. This may strain your finances. Hence, ICICI Pru has come up with this plan that gives what traditional health plans lack- a lump sum payout upon detection.
Features:
If you wish your premium to work as the best of both worlds i.e., protect your life and invest in stocks, bonds, or mutual funds, then ULIP plans are the best for you. Let's check out ULIP Plans by ICICI Prudential.
Plan Highlights
Plans | Age at Entry (as on last birthday) | Policy Term | Maximum Maturity Age |
ICICI Pru Signature | 0-60 years | 10 years to 30 years. Whole Life Option: 99 - age of entry | 99 years |
ICICI Pru1 Wealth | 8-60 years | 5 and 10 years | 70 years |
ICICI Pru Life Time Classic | 0-75 years | 5-30 years | 80 years |
ICICI Pru Guaranteed Wealth Protector | 8-70 years | 10/12 years | 80 years |
ICICI Pru Smart Life | 20-54 years | 10-25 years | 64 years |
**Last Updated on 02-02-2021
*The values may change as per the chosen plan/policy option
This special savings plan can help you get better returns to protect your loved ones with life cover. The plan comes with systematic withdrawals, where you can make regular withdrawals from the policy.
Features:
With just a single premium payment, you can get 100% of your money invested in your choice of funds. The plan offers you to choose and switch between 7 fund options at any point in time at no additional charges.
Features:
ICICI Pru Life Time Classic is a non-participating unit-linked plan that will provide complete financial protection to your loved ones via life cover and give you the potential to generate wealth and save for your future.
Features:
The unit-linked insurance plan provides you with an opportunity to better your returns and grow your savings by investing in a mix of debt and equity funds. This will help you beat inflation while protecting your investments.
Features:
ICICI Pru Smart Life is a savings and protection oriented ULIP that provides you with an opportunity to get better returns and grow your money with investments in equity and debt funds for a long period.
Features:
A savings plan is an ideal option for you to generate a corpus to meet the financial goals you have set for your family. These plans will act as a safety net for your financial stability. Let's find out more about ICICI's traditional saving plans.
Plan Highlights
Plans | Age at Entry | Maturity Age | Policy Term | |
ICICI Pru Guaranteed Income For Tomorrow | 18 years to 60 years | 18 years to 80 years | 5 years-20 years | |
ICICI Pru Cash Advantage | 0 years to 60 years | 18 years to 80 years | 15/17/20 years | |
ICICI Pru Savings Suraksha | 0 years to 60 years | 18 years to 70 years | 10 years- 30 years | |
ICICI Pru Assured Savings Insurance Plan | 8 years to 60 years | 18 years to 72 years | 10/12/15 years | |
ICICI Pru Future Perfect | 91 days to 58 years | 18 years to 70 years | 10/12/15/17/20/25/30 years | |
ICICI Pru Lakshya | Lakshya Wealth plan | 0 to 70 - policy term | 18 years to 70 years | 12-30 years |
Lakshya Lifelong Income | 0 years to 55 years | NA | 99 - Age at entry |
**Last Updated on 02-02-2021
*The values may change as per the chosen plan/policy option
ICICI Pru Guaranteed Income For Tomorrow is a combination of protection and savings life insurance plan that comes with guaranteed benefits and helps you achieve your life goals.
Features:
ICICI Pru Cash Advantage is a unique savings and protection oriented plan that offers
guaranteed amount every month for 10 years, along with bonuses and life cover and secures your family in case of your death.
Features:
With the promise of protecting your money, ICICI Pru Savings Suraksha guarantees to grow your wealth, and at the same time, offers a life cover for the entire policy term.
Features:
You can secure your financial future with ICICI Pru Assured Savings Insurance Plan. It comes with a wide range of benefits and gives you guaranteed savings benefits.
Features:
You can grow and protect your wealth with ICICI Pru Future Perfect, with benefits not just upon maturity but also during the policy term.
Features:
ICICI Pru Lakhshya is specially designed to fulfil your dreams; whether it's buying a new house or funding a child's education or even protecting your loved ones from life's uncertainties. The plan grows your wealth and protects your money The plan comes in two variants:
Features:
You do not need to compromise on your post-retirement life. ICICI Pru's retirement plans are designed to support your living standards and expenses in the golden years.
Plan Highlights:
Plans | Entry age | Sum Assured | Policy tenure |
ICICI Pru Easy Retirement | 18 years to 70 years | NA | 10, 15, 20, 25, or 30 years |
ICICI Pru Immediate Annuity | NA | ||
ICICI Pru Guaranteed Pension Plan | 30 years to 100 years | NA |
**Last Updated on 02-02-2021
*The values may change as per the chosen plan/policy option
ICICI Pru Easy Retirement allows you to get better returns, and you can even grow your money by investing in a mixture of debt and equity funds. The plan comes in two variants- single premium and regular premium.
Features:
ICICI Pru Immediate Annuity offers financial security in your golden years and assures a regular stream of income throughout your life.
Features:
ICICI Pru Guaranteed Pension Plan gives a regular stream of income throughout your life to ensure that you live your post-retirement life without any financial worries. The plan comes in two variants- Immediate Annuity and Deferred Annuity.
Features:
ICICI Pru Group Plans cover a group of people under a single insurance policy. Such plans can be purchased by organizations to provide cover for their members. Let's take a look at them:
Plan Highlights:
Plans | Entry age | Minimum Sum Assured | Policy tenure |
ICICI Pru Loan Protect | 18 years to 65 years | Rs. 5 Lakhs | 5-30 years |
ICICI Pru Loan Protect Plus | 18 years to 65 years | Rs. 5 Lakhs | Reducing Cover: 5 to 20, 25, or 30 years Moratorium: 8 years to 20, 25, or 30 years |
ICICI Pru Group Term Plus | 15 years to 79 years | Minimum of Rs. 5,000 for each member | NA |
Group Immediate Annuity Plan | NA |
**Last Updated on 02-02-2021
ICICI Pru Loan Protect is a non-participating term insurance plan, which secures your family against mortgage and auto loans in case of your death.
Features:
You can save your family from the burden of the loans with this insurance plan and can ensure that they lead a carefree life even in your absence.
Features:
ICICI Pru Group Term Plus offers life insurance coverage to all the members of the group and ensures that their loved ones receive financial security.
Features
This plan allows employers to offer pensions to their employees so that they can take care of their post-retirement needs.
Features:
Every Indian deserves an opportunity to live his life under the protection of life cover and avail benefits to increase his savings. ICICI Prudential Life Insurance offers 2 rural plans curated for people from any part of the country. Let's understand more about these plans:
Plan Highlights:
Plans | Entry age | Maximum Sum Assured | Policy tenure |
ICICI Pru Sarv Jana Suraksha | 18 years to 55 years | Rs. 2,00,000 | Regular Pay: 5 years |
ICICI Anmol Bachat | 18 years to 60 years | NA | 5-15 years |
**Last Updated on 02-02-2021
ICICI Pru Sarv Jana Suraksha is a non-linked, non-participating term micro insurance plan that offers security to you and your family at a very affordable cost.
Features:
ICICI Anmol Bachat comes with the dual benefits of savings and protection. The plan helps you to save and achieve your long-term goals along with a life cover.
Features:
Below are the following reasons that represent why ICICI Prudential Life Insurance has a high demand in the market. Let's learn about them.
If you have decided to buy ICICI Prudential life insurance, then PolicyX.com is a perfect platform to embark on this journey. Why? Here are the reasons for the same-
IRDAI Approved
PolicyX.com is approved by the Insurance Regulatory and Development Authority. With this license, we are allowed to operate in the insurance industry.
Compare Quotes
You can easily compare quotes from various insurance companies on our portal because it is built with the latest technology. A few clicks, and you will be able to compare benefits, features, and even select the option most suitable for your needs.
Hassle-Free Documentation
You can give up on your worries about paperwork when purchasing a life insurance policy on PolicyX.com. Just ensure that you have all your basic details to enter and purchase your life insurance in one go.
End-to-End Support
Our customer service, known for their endless support, is always at your service to answer the trickiest of queries.
If you want to report a claim, you can contact for support via any of the following channels:
The claim process undergoes 3 major steps:
Documents needed:
The Solvency ratio (as mandated by IRDAI) must be at least 150%. However, ICICI Pru Life has a solvency ratio of 194.1% as of March 31st, 2020.
Yes, ICICI Prudential Term Plans cover death due to health issues, including coronavirus. If the policyholder passes away due to COVID-19, his nominee will receive a sum assured as a death benefit.
Yes, a minor can be appointed as the beneficiary. However, to do the same, you have to appoint an appointee.
Yes, ICICI Prudential Life Insurance covers death due to suicide once the waiting period of one year is completed.
Last updated on 02-02-2021