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8/8/2019 Icici Pru Life Ins

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An Overview

ICICI Prudential Life Insurance Company is a joint venturebetween ICICI Bank - one of India's foremost financialservices companies and Prudential plc - a leadinginternational financial services group headquartered in theUnited Kingdom. Total capital infusion stands at Rs. 47.80

billion, with ICICI Bank holding a stake of 74% andPrudential plc holding 26%.

We began our operations in December 2000 after receiving

approval from Insurance Regulatory Development Authority(IRDA). Today, our nation-wide team comprises of over 2000branches (inclusive of 1,102 micro-offices), over 290,000advisors; and 24 bancassurance partners.


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ICICI Prudential is the first life insurer in India to receive aNational Insurer Financial Strength rating of AAA (Ind) fromFitch ratings. For three years in a row, ICICI Prudential hasbeen voted as India's Most Trusted Private Life Insurer, byThe Economic

Times - AC Nielsen ORG Marg survey of 'Most TrustedBrands'. As we grow our distribution, product range and

customer base, we continue to tirelessly uphold our commitment to deliver world-class financial solutions tocustomers all over India.


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Vision & ValuesOur vision:

To be the dominant Life, Health and Pensions player built on trustby world-class people and service.

This we hope to achieve by:

Understanding the needs of customers and offering them superior

products and service Leveraging technology to service customers quickly, efficiently and

conveniently

Developing and implementing superior risk management andinvestment strategies to offer sustainable and stable returns to our

policyholders Providing an enabling environment to foster growth and learning

for our employees

And above all, building transparency in all our dealings


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The success of the company will be founded in its unflinchingcommitment to 5 core values -- Integrity, Customer First, Boundaryless, Ownership and Passion. Each of the values describe what thecompany stands for, the qualities of our people and the way wework.

We do believe that we are on the threshold of an exciting newopportunity, where we can play a significant role in redefining andreshaping the sector. Given the quality of our parentage and thecommitment of our team, there are no limits to our growth.

Our values :

Every member of the ICICI Prudential team is committed to 5 corevalues: Integrity, Customer First, Boundaryless, Ownership, andPassion. These values shine forth in all we do, and have becomethe keystones of our success.


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Promoters

ICICI Bank

ICICI Bank Limited (NYSE:IBN) is India's largest privatesector bank and the second largest bank in the country,

with consolidated total assets of $121 billion as of September 30, 2008. ICICI Banks subsidiaries includeIndias leading private sector insurance companies andamong its largest securities brokerage firms, mutual fundsand private equity firms. ICICI Banks presence currently

spans 19 countries, including India.


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PrudentialPlc

Established in London in 1848, Prudential plc, through its businessesin the UK, Europe, US, Asia and the Middle East, provides retailfinancial services products and services to more than 21 millioncustomers, policyholder and unit holders and manages over 256billion of funds worldwide (as of June 30, 2008). In Asia, Prudential is

the leading Europe-based life insurer with life operations in China,Hong Kong, India, Indonesia, Japan, Korea, Malaysia, thePhilippines, Singapore, Taiwan, Thailand, and Vietnam.

Prudential is one of the largest asset management companies in

terms of overall assets sourced in Asia ex-japan, with 34.3 billionfunds under management (as of June 30, 2008) and operations in tenmarkets including China, Hong Kong, India, Japan, Korea, Malaysia,Singapore, Taiwan, Vietnam and United Arab Emirates


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PRODUCTS

Insurance Solutions for Individuals

ICICI Prudential Life Insurance offers a range of innovative,customer-centric products that meet the needs of

customers at every life stage. Its products can be enhancedwith up to 4 riders, to create a customized solution for eachpolicyholder.

Savings & Wealth Creation Solutions

Save'n'Protect is a traditional endowment savings planthat offers life protection along with adequate returns.


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CashBak is an anticipated endowment policy ideal formeeting milestone expenses like a child's marriage,expenses for a child's higher education or purchase of anasset. It is available for terms of 15 and 20 years.

LifeTime Gold is a unit-linked plan that offers customersthe flexibility and control to customize the policy to meet thechanging needs at different life stages. It offers 7 fundoptions - Preserver, Protector, Balancer, Flexi Balanced

Multiplier, R.I.C.H and Flexi Growth.


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LifeStage RP is unit linked plan that provides you with anoption of lifecycle-based portfolio strategy that continuouslyre-distributes your money across various asset classesbased on your life stage. This will help you achieve the rightAsset Allocation to meet your desired financial goals.

LifeLink Superis a single premium unit linked insuranceplan which combines life insurance cover with theopportunity to stay invested in the stock market.

Premier Life Gold is a limited premium paying planspecially structured for long-term wealth creation.


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InvestShield Life New is a unit linked plan that providespremium guarantee on the invested premiums and ensuresthat the customer receives only the benefits of fundappreciation without any of the risks of depreciation.

InvestShield Cashbak is a unit linked plan that providespremium guarantee on the invested premiums along withflexible liquidity options.

LifeStage Assure a unit linked insurance plan that provideupto 450 % of first year premium guarantee on maturity, withthe additional advantage of a lifecycle based portfolio strategythat allocates the investors money across various assetclasses based on his life stage and risk appetite.


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Protection Solutions

LifeGuard is a protection plan, which offers life cover at lowcost. It is available in 3 options - level term assurance, levelterm assurance with return of premium & single premium.

HomeAssure is a mortgage reducing term assurance plandesigned specifically to help customers cover their homeloans in a simple and cost-effective manner.


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Education Solutions

SmartKid New ULRP provides guaranteed educationalbenefits to a child along with life insurance cover for theparent who purchases the policy. The policy is designed toprovide money at important milestones in the child's life.

SmartKid plans are also available in traditional form.

Retirement Solutions

ForeverLife is a traditional retirement product that offersguaranteed returns for the first 4 years and then declaresbonuses annually.


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LifeTime SuperPension is a regular premium unit linkedpension plan that helps one accumulate over the long termand offers 5 annuity options (life annuity, life annuity withreturn of purchase price, joint life last survivor annuity withreturn of purchase price, life annuity guaranteed for 5, 10

and 15 years & for life thereafter, joint life, last survivorannuity without return of purchase price) at the time ofretirement.

LifeStage Pension is a regular premium unit linked pensionplan that provides you with a unique lifecycle-based strategythat continuously re-distributes your money across variousasset classes based on your life stage, eventually providingyou with a customized retirement solution.


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LifeLink SuperPension is a single premium unit linkedpension plan.

Immediate Annuity is a single premium annuity product thatguarantees income for life at the time of retirement. It offersthe benefit of 5 payout options.

PremierLife Pension is a unique and convenient retirementsolution with a limited premium paying term of three or five

years, to suit professionals and businessmen, especiallythose who require more flexibility and customization whileplanning their finances.


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Health Solutions

Health Assure Plus: Health Assure is a regular premiumplan which provides long term cover against 6 criticalillnesses by providing policyholder with financial assistance,irrespective of the actual medical expenses. Health Assure

Plus offers the added advantage of an equivalent lifeinsurance cover.

Cancer Care: is a regular premium plan that pays cash

benefit on the diagnosis as well as at different stages in thetreatment of various cancer conditions.


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Cancer Care Plus: is a wellness plan that includes all the

benefits of Cancer Care and also provides an additionalbenefit of free periodical cancer screenings.

Diabetes Care: Diabetes Care is a unique critical illness

product specially developed for individuals with Type 2diabetes and pre-diabetes. It makes payments on diagnosison any of 6 diabetes related critical illnesses, and also offersa coordinated care approach to managing the condition.Diabetes Care Plus also offers life cover.

Diabetes Care Plus: is a unique insurance policy thatprovides an additional benefit of life cover for Type 2diabetics and pre-diabetics


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Hospital Care: is a fixed benefit plan covering various stagesof treatment - hospitalisation, ICU, procedures & recuperatingallowance. It covers a range of medical conditions (900surgeries) and has a long term guaranteed coverage upto 20years.

Crisis Cover : is a 360-degree product that will provide long-term coverage against 35 critical illnesses, total andpermanent disability, and death.

MediAssure is a health insurance policy that providesassured insurability till age 75 years, assured coverage foraccepted pre-existing illnesses after 2 years and an assuredprice for 3 years.


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Flexible Rider Options

ICICI Prudential Life offers flexible riders, which can beadded to the basic policy at a marginal cost, depending onthe specific needs of the customer.

Accident & disability benefit: If death occurs as the resultof an accident during the term of the policy, the beneficiaryreceives an additional amount equal to the rider sumassured under the policy. If an accident results in total andpermanent disability, 10% of rider sum assured will be paid

each year,


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from the end of the 1st year after the disability date for theremainder of the base policy term or 10 years, whichever islesser. If the death occurs while travelling in an authorizedmass transport vehicle, the beneficiary will be entitled totwice the sum assured as additional benefit.

Critical Illness Benefit: protects the insured againstfinancial loss in the event of 9 specified critical illnesses.Benefits are payable to the insured for medical expenses

prior to death.


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Waiver ofPremium: In case of total and permanentdisability due to an accident, the future premiums continue tobe paid by the company till the time of maturity. This rider isavailable with SmartKid, LifeTime Plus, LifeTime Super andLifeTime Super Pension.

Income benefit rider: In case of death of the life assuredduring the term of the policy, 10% of the sum assured is paidannually to the nominee on each policy anniversary till the

maturity of the rider.


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BOARD OF DIRECTORS

The ICICI Prudential Life Insurance Company Limited Boardcomprises reputed people from the finance industry both fromIndia and abroad.

Ms. Chanda D. Kochhar, Chairperson

Mr. N. S. Kannan, Director Mr. K. Ramkumar, Director

Mr. Barry Stowe, Director

Mr. Adrian OConnor, Director

Mr. Keki Dadiseth, Independent Director Prof. Marti G. Subrahmanyam, Independent Director

Ms. Rama Bijapurkar, Independent Director

Mr. Vinod Kumar Dhall, Independent Direct


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MANAGEMENT TEAM

The ICICI Prudential Life Insurance Company LimitedManagement team comprises reputed people from thefinance industry both from India and abroad.

Mr. Sandeep Bakhshi, Managing Director & CEO

Mr. Puneet Nanda, Executive Vice President

Mr. Madhivanan B, Executive Vice President

Dr. Avijit Chatterjee,Appointed Actuary

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