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 type of life insurance that provides life cover for a specified period of time as per your choice. It offers financial security to the loved ones of the policyholder in case of an unfortunate event during the policy term. A term insurance policy provides a life cover at affordable premiums, making them easy on your budget. These fixed premiums can be paid at once or at regular intervals for the entire policy term or for a limited period. The premium amount varies based on your age, lifestyle habits, type of premium payment, add-ons chosen, and more.

What is Health Insurance?

A health insurance policy offers coverage for medical expenses of the customer. It mainly 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. It not only helps your money grow but also protects your loved ones’ future from life's unexpected turns.

What is a Saving Plan?

A savings plan is a unique financial instrument that lets you save money for future needs in a systematic manner while also providing you with life insurance coverage. It also helps you grow your money with stable returns making it a low-risk investment option. A savings plan offers death benefit to the nominee in case of an unfortunate event during the policy term.

Key features of a saving plan are:

• Maturity benefit: Savings plans come with maturity benefit. This brings certainty to your savings. Some savings plans also offer guaranteed additions and bonuses that enhance the maturity amount, thus helping you to achieve your financial goals faster.
• Guaranteed returns: A savings plan provides guaranteed returns upon maturity, making it a reliable financial tool for securing your future. 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.