ICICI PRUDENTIAL Life Insurance

Life Insurance means peace, security and support for your loved ones when you are not around to take care of them. It ensures financial security to people who mean the world to you. A good Life Insurance policy gives you and your family an extensive coverage and protective shield against the worst uncertainties life can offer. Good financial planning means empowering yourself with a Life Insurance policy that also doubles up as a tax saving instrument and a cash resource.

KEY BENEFITS OF LIFE INSURANCE

Life Insurance, especially tailored to meet your financial needs.

Need for Life Insurance

We have invested in unique technology systems to serve the customer better and faster. The use of bio-metric authentication processes and transaction devices, have enabled speedier servicing of collections and also built a great level of transparency, trust and customer confidence.

Our branches are linked with central systems and all operations are online providing access to customer information and transactions on a real time basis.

Goal based savings

All of us have some goals in life for which we need to save. For a young newly married couple, it could be buying a house. Once they decide to start a family, the goal changes to planning for education or marriage of their children. As one grows older, planning for one's retirement begins to take precedence.

As your financial goals change as per the life stage, the instrument in which you invest should offer corresponding benefits pertinent to the life stage.

Life Insurance is a unique investment option that offers specific products tailor-made for different life stages. It ensures that the benefits offered to the customer reflect the needs of the customer at that particular life stage, and hence ensures that the financial goals of that life stage are met.

WHY IS LIFE INSURANCE NEEDED?

A protective cover:

When you are the only earning member of the family, it becomes essential for you to ensure a good financial backing and a steady source of income, in case of a sudden death or misfortune. A good insurance policy comes to the rescue of the family and helps them maintain their standard of living.

Financial needs and requirements:

Not only can you use the Life Insurance policy to meet your financial requirements at the time of crisis, but also fetch a loan against it using the same. Your policy also doubles up as a cash resource and helps your family pay loans and debts at the time of crisis. It helps you in managing your loans and EMIs and reducing the financial burdens in a planned way.

Illnesses, misfortunes and disasters:

Life Insurance policy is an excellent protection tool against a sudden crisis that throws you off guard during the course of life. It gives you an extensive coverage whenever you face financial liabilities during a life threatening illness, accident or any such mishap.

Tax Benefits:

Not just a protective cover, a life insurance policy is a wonderful way to save taxes too. There are many schemes these days that help you avail tax deductions on the payment of premium. The real catch is to buy these policies early when you are still young and healthy to derive maximum benefits.

A good investment instrument – Goal based savings

Investment policies in current scenario are not just used as an insurance backing but also as a lucrative investment instrument too. All of us have some goals in life for which we need to save finances. As your financial goals change as per each life stage, the instrument in which you invest should offer corresponding benefits pertinent to the life stage.

HUMAN LIFE VALUE

What is your Human Life Value?

Beyond all doubt, your life is invaluable. Yet, there is a certain worth that can be attributed to the financial support you offer your parents, spouse or children. This worth is referred to as Human Life Value (HLV). In the future, if your family does not have the protective blanket of your presence, they will no longer be able to enjoy the benefits of the income you earned. In simple terms, Human Life Value is the present value of your future earnings.

How do you determine your Human Life Value? Your Human Life Value is determined by 3 factors:

Your age
Current and future expenses
Current and future income
As a thumb rule, if you are 30 years of age, you should insure yourself for an amount approximately 8 times your annual income. At 35, the investment should be close to 6 times your income. Of course, the exact amount of your investment should be determined by the number of people who depend on you, the existing investments and your life stage.

Why should you calculate your Human Life Value?

You should calculate your Human Life Value so you can accordingly invest in insurance plans that will provide your family with adequate finances and hence security, even in your absence.

What are the tax benefits available?

Life, Pension and Health insurance as a tax saving tool, offers savings under various sections of the income tax act. Some of the key tax benefits offered are as follows:

Our Life Insurance policies are eligible for tax deduction under Sec. 80C.
Our Pension policies are eligible for a tax deduction under Sec. 80CCC.
Our Health Insurance policies/ riders are eligible for tax deduction under Sec. 80D.
The proceeds of our Life Insurance policies are exempt under Sec 10(10D), subject to norms prescribed in that section.

© 2013, ICICI Prudential Life Insurance Co. Ltd. Registered Address: ICICI Pru Life Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400025. Reg. No.: 105. Insurance is the subject matter of the solicitation. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. Tax benefits under the policy are subject to conditions under section 80C, 80CCC, 80D, 10(10D) and 10(10A) of the Income Tax Act, 1961. Service tax and education cess will be charged extra as per applicable rates. The tax laws are subject to amendments from time to time

SMFG India Credit Co. Ltd.(Formerly Fullerton India Credit Co. Ltd.) with registered office at Megh Towers, Third Floor, Old No. 307, New No.165, Poonamallee High Road, Maduravoyal, Chennai-600095 is a corporate agent of ICICI Prudential Life Insurance Company Limited ("ICICI Prulife'). The contract of insurance is with ICICI Prulife who is liable for all valid claims on the policy. SMFG India Credit Co. Ltd.(Formerly Fullerton India Credit Co. Ltd.) customer's participation in the policy is entirely voluntary.advertisement code in CA/II/1682/2012-13

*The above coverage details are indicative and subject to change.

**Insurance is the subject matter of solicitation.