Life Insurance from ICICI Prudential

Life insurance means financial security, support and peace of mind for your loved ones when you are not around to take care of them. You can be rest assured that any outstanding personal loans will not become a burden for your loved ones. Keeping this in mind, SMFG India Credit associates with ICICI Prudential Life Insurance Company Limited, to offer you a wide range of life insurance policies.

Company Overview

ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life) is a joint venture established in 2001 between ICICI Bank Limited and Prudential Corporation Holdings Limited. It is a prominent player in the Indian life insurance sector, with Assets Under Management (AUM) of ₹ 3,104.14 billion as of December 31, 2024. On a retail weighted received premium basis (RWRP), it has consistently been ranked amongst the top companies in the Indian life insurance sector.

ICICI Prudential Life operates on the core philosophy of customer-centricity. It offers long-term savings and protection products to meet different life stage requirements of customers. It provides cost-effective products, quality services, consistent fund performance and a hassle-free claim settlement experience.

In FY2015, ICICI Prudential Life became the first private life insurer to attain Assets Under Management (AUM) of ₹ 1 trillion. It was also the first insurance company in India to be listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

https://www.iciciprulife.com

Company Values

ICICI Prudential Life’s core values are:

• Customer First: Keep customers at the centre of everything we do
• Humility: Be open to learn and change
• Passion: Demonstrate infectious energy to win and excel
• Integrity: Do the right thing
• Boundarylessness: Treat organisation agenda as paramount

What is Term Life Insurance?

Term insurance is a financial product that provides life coverage for a specified period of time as per your choice. It offers financial security to the loved one of the policyholder in case of an unfortunate event during the policy term. Term insurance policies provide a large life cover at an affordable premium, making them easy on your budget. These premiums can be paid as a lump sum or at regular intervals as per your convenience. The premium amount may vary based on the your age, lifestyle habits, type of premium payment, add-ons chosen, and more.

What is Health Insurance?

Health insurance plans provide financial coverage for medical expenses. It typically covers costs for treatments, surgeries, hospitalisation, medicines and more. On the other hand, some plans may pay out a pre-determined amount on diagnosis, irrespective of the amount of expenses. With many plans, insurers directly tie-up with hospitals or clinics to pay for the treatment being done. This ensures you have a safety net in case of unexpected medical emergencies.

What is Unit Linked Insurance Plan (ULIP)?

Unit Linked Insurance Plan (ULIP) is a type of insurance, which offers the dual benefit of investment to fulfil your long-term goals, and a life cover to financially protect your family in case of an unfortunate event. You can choose to invest in equity, debt, or a combination of both funds as per your risk appetite and goals. This makes ULIPs an ideal investment option for you and your family’s long-term goals.

What is a Saving Plan?

Savings plans are financial products designed to enable disciplined savings while delivering steady returns that help you achieve your financial goals. These plans also ensure the financial security of your loved ones in case something happens to you.

• Maturity benefit: Savings plans usually come with an assured maturity benefit. This brings certainty to your savings. Some of the best savings plans also offer guaranteed additions and bonuses that enhance the maturity amount, thus helping you to achieve your financial goals faster.
• Steady returns: Savings plans offer steady and safe returns. These returns are risk-free, which means you do not lose the money that is committed to you at the time of policy inception, provided you pay all premiums on time.
• Flexible premium payment: Savings plans allow you to pay the premium monthly, quarterly, half-yearly or annually, as per your convenience.
• Life cover: A savings plan comes with a life cover and provides financial security to your dear ones in case of an unfortunate event.

What are Pension or Retirement Plans?

Once you retire, your income stops. However, you still want to maintain your current lifestyle and stay prepared for emergencies. You may also have retirement goals like travelling, starting a venture or pursuing a hobby. Retirement plans are types of life insurance that are specially designed to meet your post-retirement needs. With these plans, you can enjoy your golden years with financial independence.