INVESTOR’S INTEREST IN

LIFE INSURANCE
IN ICICI-PRUDENTIAL

In partial fulfillment in award of

Master of Business Administration

Under the guideence of

Company guide
Ms.Soamyata dashotter

Faculty Guide :
Ms. Tanvi Lahoti

Submitted By : Narendra Singh

Roll. No. : 520568642
Study Center : PIIT ,Jaipur {01531}

Sikkim Manipal University

of Health, Medical & Technological Science
5th mile ,Tadong ,Gangtok - 737102

1
ACKNOWLEDGEMENT

2
 I wish to avail this appotunity & place on record my deep sense of gratitude and immense
heartfailed thanks first and formost to my industry guide Miss Soamayta Dashotter for her
valuable guidance,encouragement,meticulous suggestions and in valuable support for the
successful completion of my “Project Training” in the prestigious organization…
I take this opportunity to express my indebtedness to Mr. Sanjeev Mudgal, for his
magnanimous support to avail the opportunity of my Project Training . I extend my greatful thanks
to staff members of ICICI Prudential – Prority Circle for allowing me to pursue my work in this
renowned organization.
I feel highly indebted and extend my respectful thanks to Ms. Tanvi Lahoti MBA –from
PIIT , Jaipur, for her magnanimous support in fulfilling my Project Training with ease and support.

Narendra Singh
4th Semester
M.B.A.

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Executive Summery

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 The Project involves study of life insurance.performance available in the market and
simultaneously tried to identify the view of advisor about the best life insurance .investment option
available and I tried to find out the risk and return parameter of those insurance products. Project also
involves making a comparative study of the top life insurance available .i had collect the list of investor’s
from the company and its channel partners.
Research was done by the questionnaire and informations collected by company fact sheet, internet
and magazine.I had interect with policy holder’s through personal meetings and telephonic conversations
and I also interact with new policy holders those are visited to the office. Company also provide the
oppourtunity of telecalling it was help me a lot to complete my project , it was also helpful to enhance my
communication skill and remove my hesitation.
Also our company gave me the opportunity to visit many insurance company like
HDFC-Standerd life insurance
Reliance insurance
Koteak Mahindra
Bajaj alliance
Aviva life insurance
Max NewYork life insurance for collect the official information and give product knowledge and aware
them about the change in terms and conditions of the company. I had also joined the company it was
provide me the great apportunity to interact with lots of people in a single day.During the 8 weeks of my
training period I got a chance to intract with different people.

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Table of Contents :

 Cover Page 1

 Acknowledge 2

 Executive Summary 4

 Certificate From the Company

 Table Of Contents 6

 Company Profile 7

 Interoduction 17

 Objectives 21

 Methodology 23

 Analysis 27

 Conclusion 57

 Recommendation 62

 Bibliography & References 66

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COMPANY PROFILE

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 India's Number One private life insurer, ICICI Prudential Life Insurance Company is a
joint venture between ICICI Bank-one of India's foremost financial services companies-and
Prudential plc- a leading international financial services group headquartered in the United
Kingdom. Total capital infusion stands at Rs. 20.60 billion, with ICICI Bank holding a stake of
74% and Prudential 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 580 offices, over
234,000 advisors; and 22 bancassurance partners.

ICICI Prudential was the first life insurer in India to receive a National Insurer Financial Strength
rating of AAA (Ind) from Fitch ratings. For three years in a row, ICICI Prudential has been voted
as India's Most Trusted Private Life Insurer, by The Economic Times - AC Nielsen ORG Marg
survey of 'Most Trusted Brands'. As we grow our distribution, product range and customer base,
we continue to tirelessly uphold our commitment to deliver world-class financial solutions to
customers all over India.

The ICICI Prudential Edge - What makes us No. 1

The ICICI Prudential edge comes from our commitment to our customers, in all that we do - be it product
development, distribution, the sales process or servicing. Here's a peek into what makes us leaders.

1. Our products have been developed after a clear and thorough understanding of customers' needs. It is this
research that helps us develop Education plans that offer the ideal way to truly guarantee your child's
education, Retirement solutions that are a hedge against inflation and yet promise a fixed income after you
retire, or Health insurance that arms you with the funds you might need to recover from a dreaded disease.

2. Having the right products is the first step, but it's equally important to ensure that our customers can
access them easily and quickly. To this end, ICICI Prudential has an advisor base across the length and
breadth of the country, and also partners with leading banks, corporate agents and brokers to distribute our
products

3. Robust risk management and underwriting practices form the core of our business. With clear guidelines in
place, we ensure equitable costing of risks, and thereby ensure a smooth and hassle-free claims process.

4. Entrusted with helping our customers meet their long-term goals, we adopt an investment philosophy that
aims to achieve risk adjusted returns over the long-term.

5. Last but definitely not the least, our 16,000 plus strong team is given the opportunity to learn
and grow, every day in a multitude of ways. We believe this keeps them engaged and enthusiastic,
so that they can deliver on our promise to cover you, at every step in life.

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Promoters

ICICI Bank (NYSE:IBN) is India's second largest bank and largest private sector bank with over
50 years presence in financial services and with assets of over Rs 3446.58 bn (USD 79 billion) as
on March 31, 2007. The Bank offers a wide range of banking products and financial services to
corporate and retail customers through a variety of delivery channels and through its specialised
subsidiaries in the areas of investment banking, life and non-life insurance, private equity and asset
management. ICICI Bank is a leading player in the retail banking market and services its large
customer base through a network of over 950 branches and extension counters, 3300 ATMs, call
centers and internet banking icici bank to ensure that customers have access to its services at all
times.

Produential

Established in London in 1848, Prudential plc, through its businesses in the UK and Europe, the
US and Asia, provides retail financial services products and services to more than 20 million
customers, policyholder and unit holders and manages over £251 billion of funds worldwide (as of
31 December 2006). In Asia, Prudential is the leading European life insurance company with life
operations in China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines,
Singapore, Taiwan, Thailand, Vietnam. Prudential is the second largest retail fund manager for
Asian sourced assets ex-Japan as at June 2006. Its fund management business has expanded into a
total of ten markets : China, Hong Kong, India, Japan, Korea, Malaysia, Singapore, Taiwan,
Vietnam and United Arab Emirates.

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier
financial powerhouse, and Prudential plc, a leading international financial services group
headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector
insurance companies to begin operations in December 2000 after receiving approval from
Insurance Regulatory Development Authority (IRDA).

ICICI Prudential's capital stands at Rs. 18.15 billion with ICICI Bank and Prudential plc holding
74% and 26% stake respectively. For the 10 months ended January 31, 2007, the company
garnered Rs 3,240 crore of weighted retail + group new business premiums and wrote over 1.3
million policies. The company has assets held to the tune of over Rs. 14,000 crore.

ICICI Prudential is also the only private life insurer in India to receive a National Insurer Financial
Strength rating of AAA (Ind) from Fitch ratings. The AAA (Ind) rating is the highest rating, and is
a clear assurance of ICICI Prudential's ability to meet its obligations to customers at the time of
maturity or claims.

For the past six years, ICICI Prudential has retained its position as the No. 1 private life insurer in
the country, with a wide range of flexible products that meet the needs of the Indian customer at
every step in life.

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Distribution
ICICI Prudential has one of the largest distribution networks amongst private life insurers in India. As of
January 31, 2007 the company has over 540 offices across the country and over 200,000 advisors.

The company has over 20 bancassurnace partners, having tie-ups with ICICI Bank, Federal Bank, South
Indian Bank, Bank of India, Lord Krishna Bank, Idukki District Co-operative Bank, Jalgaon Peoples Co-
operative Bank, Shamrao Vithal Co-op Bank, Ernakulam Bank and 9 Bank of India sponsored Regional Rural
Banks (RRBs). It has also tied up with NGOs MFIs and corporates for the distribution of rural policies.

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 enhanced with up to 4 riders, to create a customized
solution for each policyholder.

. Savings & Wealth Creation Solutions

CashPlus is a transparent, feature-packed savings plan that offers 3 levels of protection as well
as liquidity options.
Save'n'Protect is a traditional endowment savings plan that offers life protection along with
adequate returns.
CashBak is an anticipated endowment policy ideal for meeting milestone expenses like a
child's marriage, expenses for a child's higher education or purchase of an asset. It is available
for terms of 15 and 20 years.
LifeTime Super & LifeTime Plus are unit-linked plans that offer customers the flexibility and
control to customize the policy to meet the changing needs at different life stages. Each offer 4
fund options - Preserver, Protector, Balancer and Maximiser.
LifeLink Super is a single premium unit linked insurance Plan which combines life insurance
cover with the opportunity to stay invested in the stock market.
Premier Life Gold is a limited premium paying plan specially structured for long-term wealth
creation.
InvestShield Life New is a unit linked plan that provides premium guarantee on the invested
premiums and ensures that the customer receives only the benefits of fund appreciation without
any of the risks of depreciation.
InvestShield Cashbak is a unit linked plan that provides premium guarantee on the invested
premiums along with flexible liquidity options.

Protection Solutions

LifeGuard is a protection plan, which offers life cover at low cost. It is available in 3 options
- level term assurance, level term assurance with return of premium & single premium.
HomeAssure is a mortgage reducing term assurance plan designed specifically to help
customers cover their home loans in a simple and cost-effective manner.

Child Plans

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 Education insurance under the SmartKid brand provides guaranteed educational benefits to
a child along withlife insurance cover for the parent who purchases the policy. The policy is
designed to provide money at important milestones in the child's life. SmartKid plans are
also available in unit-linked form - both single premium and regular premium.

Retirement Solutions

ForeverLife is a traditional retirement product that offers guaranteed returns for the first 4
years and then declares bonuses annually.
LifeTime Super Pension is a regular premium unit linked pension plan that helps one
accumulate over the long term and offers an annuity option (guaranteed income for life) at the
time of retirement.
LifeLink Super Pension is a single premium unit linked pension plan.
Immediate Annuity is a single premium annuity product that guarantees income for life at
the time of retirement. It offers the benefit of 5 payout options.

Health Solutions

Health Assure and Health Assure Plus: Health Assure is a regular premium plan which
provides long term cover against 6 critical illnesses by providing policyholder with financial
assistance, irrespective of the actual medical expenses. Health Assure Plus offers the added
advantage of an equivalent life insurance cover.
Cancer Care: is a regular premium plan that pays cash benefit on the diagnosis as well as at
different stages in the treatment of various cancer conditions.
Diabetes Care: Diabetes Care is the first ever critical illness product specially for individuals
with Type 2 diabetes. It makes payments on diagnosis on any of 6 diabetes related critical
illnesses, and also offers a coordinated care approach to managing the condition. Diabetes
Care Plus also offers life cover.

Group Insurance Solutions

ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance benefits to their
employees.

Group Gratuity Plan: ICICI Pru's group gratuity plan helps employers fund their statutory gratuity obligation
in a scientific manner. The plan can also be customized to structure schemes that can provide benefits beyond
the statutory obligations.

Group Superannuation Plan: ICICI Pru offers both defined contribution (DC) and defined benefit (DB)
superannuation schemes to optimise returns for the members of the trust and rationalise the cost. Members
have the option of choosing from various annuity options or opting for a partial commutation of the annuity at
the time of retirement.

Group Immediate Annuities: In addition to the annuities offered to existing superannuation customers, we
offer immediate annuities to superannuation funds not managed by us

Group Term Plan: ICICI Pru's flexible group term solution helps provide affordable cover to members of a
group. The cover could be uniform or based on designation/rank or a multiple of salary. The benefit under the

11
policy is paid to the beneficiary nominated by the member on his/her death.

Flexible Rider Options…

ICICI Pru Life offers flexible riders, which can be added to the basic policy at a marginal cost,
depending on the specific needs of the customer.

1. Accident & disability benefit: If death occurs as the result of an accident during the term of
the policy, the beneficiary receives an additional amount equal to the rider sum assured under
the policy. If the death occurs while traveling in an authorized mass transport vehicle, the
beneficiary will be entitled to twice the sum assured as additional benefit.
2. Critical Illness Benefit: protects the insured against financial loss in the event of 9 specified
critical illnesses. Benefits are payable to the insured for medical expenses prior to death.
3. Income Benefit: This rider pays the 10% of the sum assured to the nominee every year, till
maturity, in the event of the death of the life assured. It is available on SmarKid and CashPlus.
4. Waiver of Premium: In case of total and permanent disability due to an accident, the future
premiums continue to be paid by the company till the time of maturity. This rider is available
with LifeTime Super, LifeTime Super Pension and CashPlus.

About the Promoters

ICICI Bank (NYSE:IBN) is India's second largest bank and largest private sector bank with assets of Rs.
2958.32 billion as on December 31, 2006. ICICI Bank provides a broad spectrum of financial services to
individuals and companies. This includes mortgages, car and personal loans, credit and debit cards, corporate
and agricultural finance. The Bank services a growing customer base through a multi-channel access network
which includes over 695 branches and extension counters, 3051 ATMs, call centers and Internet banking.

Established in London in 1848, Prudential plc, through its businesses in the UK and Europe, the US and Asia,
provides retail financial services products and services to more than 21 million customers, policyholder and
unit holders worldwide. Today, Prudential has millions of customers worldwide and over £238 billion (as of 30
June 2006) of funds under management. In Asia, Prudential is the leading European life insurance company
with a vast network of life and fund management operations in thirteen countries - China, Hong Kong, India,
Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Vietnam and United Arab
Emirates.

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Awards & Recognitions

Awards

India's Most Customer Responsive Insurance Company

Avaya GlobalConnect - Economic Times
Customer Responsiveness Awards

Most Trusted Private Life Insurer

The Economic Times - A C Nielsen Survey of Most Trusted Brands – 2003, 2004 and 2005

Prudence Customer Centricity Award 2004 & 2005

Prudential Corporation Asia

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 Best Life Insurer 2003
Outlook Money Awards 2003 & 2004

IMM Award for Excellence

Institute of Marketing & Management

Organisation with Innovative HR Practices

Indira Group of Institutes

Superbrand 2003-04

Organisation with Innovative HR Practices

Asia-Pacific H R Congress Awards for HR Excellence

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 Silver Effie for Effectiveness of the ‘Retire from Work not life’ advertising campaign
Effies 2003

Recognitions

IMM Award for Excellence

Institute of Marketing & Management

Organisation with Innovative HR Practices

Indira Group of Institutes

Organisation with Innovative HR Practices

Asia-Pacific H R Congress Awards for HR Excellence

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Project overview

16
INTERODUCTION..

What is Life Insurance

Life insurance is a guarantee that your family will receive financial support, even in your absence.
Put simply, life insurance provides your family with a sum of money should something happen to
you. It thus permanently protects your family from financial crises.

In addition to serving as a protective cover, life insurance acts as a flexible money-saving scheme,
which empowers you to accumulate wealth-to buy a new car, get your children married and even
retire comfortably, Life insurance also triples up as an ideal tax-saving scheme. To know more,
read the Key Benefits of Life Insurance.

Key Benefits of Life Insurance

Life insurance, especially tailored to meet financial needs

 Need for Life Insurance

Today, there is no shortage of investment options for a person to choose from. Modern day
investments include gold, property, fixed income instruments, mutual funds and of course,
life insurance. Given the plethora of choices, it becomes imperative to make the right
choice when investing your hard-earned money. Life insurance is a unique investment that
helps you to meet your dual needs - saving for life's important goals, and protecting your
assets.

Let us look at these unique benefits of life insurance in detail

 Asset Protection

From an investor's point of view, an investment can play two roles - asset appreciation or
asset protection. While most financial instruments have the underlying benefit of asset
appreciation, life insurance is unique in that it gives the customer the reassurance of asset
protection, along with a strong element of asset appreciation.

The core benefit of life insurance is that the financial interests of one’s family remain
protected from circumstances such as loss of income due to critical illness or death of the
policyholder. Simultaneously, insurance products also have a strong inbuilt wealth creation
proposition. The customer therefore benefits on two counts and life insurance occupies a
unique space in the landscape of investment options available to a customer.

 Goal based savings

Each of us has some goals in life for which we need to save. For a young, newly married

17
 couple, it could be buying a house. Once, they decide to start a family, the goal changes to
planning for the education or marriage of their children. As one grows older, planning for
one's retirement will begin to take precedence.

Clearly, as your life stage and therefore your financial goals change, the instrument in
which you invest should offer corresponding benefits pertinent to the new life stage.

Life insurance is the only investment option that offers specific products tailormade for
different life stages. It thus 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.

The table below gives a general guide to the plans that are appropriate for different life
stages.

Life Stage Primary Need Life Insuarance Product

Young & Single Asset creation Wealth creation plans

Young & Just married Asset creation & protection Wealth creation and mortgage
protection plans

Married with kids Children's education, Asset creationEducation insurance, mortgage

and protection protection & wealth creation plans

Middle aged with grown up kids Planning for retirement & assetRetirement solutions & mortgage
protection protection

Across all life-stages Health plans Health Insurance

To find out, which ICICI Prudential plan will best suit your requirements, play the Wheel of
Fortune game by clicking.

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. Put simply, Human Life Value is
the present value of your future earnings.

 Why should you calculate your Human Life Value?

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

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  How do you determine your Human Life Value?

Your Human Life Value is determined by 3 factors:

1. your age
2. Current and future expenses
3. 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, your 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, your existing investments and your life stage. For example, if you are 30 years of age and have
two children and parents to provide for, the amount you invest should be reflective of your
requirements.

 Calculate your Human Life Value NOW

Use our quick and easy Human Life Value Calculator to determine your Human Life Value and the
corresponding amount you should invest. Start right away!

Life Stage Profiler

All through your life, several significant events the birth of your child, moving to a larger home,
his or her education and wedding, buying a new car, retiring from work will occur at various stages
and demand your financial commitment. If you plan in advance for these events, you will quite
naturally be prepared when they occur.

Life insurance is an effective tool that assists you to plan for your future such that you are
financially equipped to meet all

your goals.

Our special tool, the Life Stage Profiler, assists you to plan for a secure financial future. Please use the tool,
right away!

Which important goals should you plan for in advance?

1) Your family's protection - so that your loved ones are secure should an unfortunate event
happen to you. Life insurance can guarantee that your family receives a lumpsum that
safely tides them over any financial crises that might occur in your absence.

2) Child's education: As parent, your primary responsibility is to guarantee your children's

future. Our Education Insurance plans ensure your child receives money at key stages of
his or her education even in your absence.

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3) Savings: Savings plans allow you to steadily save towards a pre-decided goal in a secure
manner. These plans provide you with a host of benefits. You can choose the premium, the
underlying fund in which you want to invest your money, the ratio between protection and
investment as per your requirements.

4) Retirement: Retirement plans help you secure guaranteed income for your retired life. During
the Accumulation phase, you systematically save while you are working. When you retire, the
Payout stage of the plan begins. You then purchase an annuity, which will serve as a steady stream
of income, for the rest of your life.

6) Health: An integral part for financial planning is protecting oneself against any medical
emergencies as well. Hence, a very prudent decision would be to choose a combination of plans
that look after your finances and offer you a protective health cover to ensure your financial
planning is in track despite any major illnesses.

ICICI Prudential offers 3 comprehensive benefit-based products that cover major critical
illnesses.

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Objectives :

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 The objective of the research was to know the investors view on life insurance
and also know about the current passion of life insurance.

 To make people aware of reliance insurance

 To promote ICICI- pru life insurance.
 To study the behavior of market.
 To study the behavior of investor and general mass
 To study the risk associated with it .
 To analyze the yield and return associated with it.
 To find out the factor of life insurance.

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 Research
Methodology

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 Once can also define research as a scientific and systematic search for
pertinent information on specific topic. Infect research is an art of scientific
investigation. The advance learner dictionary of current English lays down the
meaning of research as “A careful investigation or inquiry especially
through search for new facts in any branch of knowledge.”

Research methodology is a ay to systematic solve the research problem.

It may be understood as a science of studying how research is down scientifically.

The study under taken by me as regarding a detailed analysis of life insurance

investors.

Universe: jaipur

Sampling technique: Random sampling

Random sampling ensure the law of statistical regularity
Which states that if an average the sample chosen is a
random one.

Research Design:

Fundamental to the success of any marketing research

project ids sound research design. Research design is the basic framework which
provides guideline for the rest of research process. It is a map or blueprint
according to which the research is to be conducted. The function of research
design is to ensure that the required data are collected accurately and
economically.

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 Information/data Method:
 The questionnaire contents both the investor ‘s interest in insurance and
there view on current phase of insurance.
 The questionnaire is framed at critically analyzing the present trends.

Data collection type:

There are two type of data collection method:

 Primary

 Secondary

In the section of researcher project , the requirement is to describe the

source of collecting primary and secondary data. For collecting primary data
method adopt was focus group method.

Source of primary data:

1. Natural market
 Relatives
 Friends
 Neighbors
2. Stall operation
3. Survey

Source of secondary data :

• Database from company
• Reference data
• Telecalling

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Sample size:

The study is based on a survey of 200 respondents through a

questionnaire covering different groups of investors but I could collect 175 complete
questionnaires out of which 150 were taken as an effective sample.

Methodology:

1. Prepare a list of information needed.

2. Frame questionnaire.
3. collect information
4. convert information into data and graph
5. Analyze and interpretation.

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ANAYLSIS

27
Types of Insurance Plans - Traditional or Unit Linked

Insurance Plans - At a glance

Broadly, insurance plans can be distinctly divided into ULIPs and traditional plans. A brief detail of both
segments:

Unit Linked Insurance Product

ULIPs have gained high acceptance due to attractive features they offer. These include:

1. Flexibility
1. Flexibility to choose Sum Assured.
2. Flexibility to choose premium amount.
3. Option to change level of Premium /Sum Assured even after the plan has started.
4. Flexibility to change asset allocation by switching between funds
2. Transparency
1. Charges in the plan & net amount invested are known to the customer
2. Convenience of tracking one’s investment performance on a daily basis.
3. Liquidity
1. Option to withdraw money after few years (comfort required in case of exigency)
2. Low minimum tenure.
3. Partial / Systematic withdrawal allowed
4. Fund Options
1. A choice of funds (ranging from equity, debt, cash or a combination)
2. Option to choose your fund mix based on desired asset allocation

Traditional Plans

These are the oldest types of plans available. These plans cater to customers with a low risk appetite. Some of
the common features of traditional plans are:

1. Steady Investment
1. Major chunk of investible funds are in debt instruments
2. Steady and almost assured returns over the long term
2. Features
1. Death benefit is Sum Assured + guaranteed & vested bonus
2. Helps in asset creation as they are for a long tenure
3. Premium to Sum Assured ratios are fixed for each plan and age.
4. Generally withdrawals are not allowed before maturity

Life Insurance Plans

On the basis of which life stage you are in and the corresponding insurance needs, ICICI
Prudential plans can be categorized into the following three types:

28
 Education Insurance Plans
Wealth Creation Plans
Premium Guarantee plans
Protection Plans

Education Insurance Plans

One of your most important responsibilities as a parent is to ensure that your child gets the best
possible education that can be provided.

ICICI Prudential offers a wide portfolio of education insurance plans that are designed to provide peace of
mind to you, as a parent, that your child's education will be secure. These plans ensure that money is made
available at the crucial junctures in a child's education - Class X, Class XII, graduation and post-graduation -
to fund crucial commitments for the child's future.

Importantly, education insurance plans ensure that in the unfortunate event of the death of a parent, the
child's education continues unhampered.

Under the education insurance plans platform, ICICI Prudential brings the following products to
you. Please click on the product name to know more about the plans.

Plan Name Plan Type

SmartKid New Unit-linked UnitLinked

Regular Premium

SmartKid New Unit-linked UnitLinked

Single Premium

SmartKid Regular Premium Traditional

Wealth Creation Plans

Wealth Creation Plans give the customer the dual benefit of protection along with the potentially higher
returns of market- linked instruments. The most important benefit of ULIPs is the flexibility they give the
customer in choosing the premium amount and also choosing the underlying fund in which this money is to be
invested. Wealth creation plans also offer the customer more liquidity options as compared to traditional
plans. As such, ULIPs are ideal for customers who want the protection of a life cover to be allied to the returns
of market linked instrument – giving them an unmatched combination of benefits.

Under the wealth creation platform, ICICI Prudential brings the following products to you. Please
click on the product name to know more about the plans.

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Plan Name Plan Type

LifeTime Super Unit Linked

LifeLink Super Unit Linked
PremierLife Gold Unit Linked
LifeTime Plus Unit Linked

Premium Guarantee Plans

The latest addition to the life insurance product portfolio of ICICI Prudential is the Premium
Guarantee plan - InvestShield Life New. Premium Guarantee plans are the ideal insurance-cum-
investment option for customers who want to enjoy the potentially higher returns of a market
linked instrument, but without taking any market risk.

Under the Premium Guarantee Plans platform, ICICI Prudential brings to you the following
products:

Plan Name Plan Type

InvestShield Life New Unit Linked

InvestShield CashBak Unit Linked

Protection Plans

The sole objective of these plans, as their name indicates, is to serve the protection needs of the customer
and by doing so, safeguard one’s family from the financial implications of unfortunate circumstances than one
cannot foresee.

Under the Protection Plans platform, ICICI Prudential brings to you the following products:

Plan Type
Plan Name

LifeGuard Traditional
Save'n'Protect Traditional
CashBak Traditional
Home Assure Traditional

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Why is retirement planning important?

Retire from work. Not from life.

A retirement plan is an assurance that you will continue to earn a satisfying income and enjoy a
comfortable lifestyle, even when you are no longer working. To understand why an increasing
number of individuals have already started planning for their retirement, and why you should too,
read on.

Independence is the new way of life: An increasing number of young Indian professionals are
moving away from the traditional joint family structure. Since support no longer comes easily,
parents have realized the need to provide for themselves during their retirement years.

Costs set to soar: Skyrocketing costs throw even a well-salaried person off balance. With rates
rising everyday, you can imagine how high they will be when you are ready to retire. A retirement
plan provides you with a steady income every month, to arm you in the face of rising costs.

To understand how inflation can impact your monthly expenses, use our special tool, the Inflation
Index calculator.

Non-earning retirement phase is now longer: Only 4% of India working population- mostly
government employees – are covered by pensions. The remaining 96% comprises self-employed
and salaried professionals who do not have a formal, mandated provision for pensions.

ICICI Prudential offers two key retirement plans, LifeLink Super Pensionand LifeTime Super
Pension - flexible income cum insurance plans that ensure you meet all your retirement
requirements. So you can retire peacefully from work, but not from life.

Why start planning for retirement right away?

Both Ramesh and Vikram want to retire at the age of 60 years. To take care of his post-retirement
requirements, Ramesh invests a total amount of Rs. 35 lakhs towards his retirement corpus. On the other
hand, Vikram invests a total of Rs 50 lakh towards his retirement. Despite investing less, Ramesh accumulates
Rs 298 lakh, compared to Vikram's accumulation of Rs 216 lakh!. Read on to find out how..

What Ramesh had in his favour was TIME. He began investing a sum of Rs 1 lakh p.a. earlier, at the age of 25
years, up to the age of 60. Ramesh, to compensate for lost time, saved twice the amount invested by Ramesh
i.e. Rs. 2 lakhs every year from the age of 35, till the age of 59 years.

It is for this precise reason you should plan for your retirement now-and not later; so you get the advantage
of investments that multiply quickly each year, giving you the added advantage!

31
The graph above shows the retirement amount both Ramesh and Vikram accumulate by the age of
60 years. Please note: The assumption is that both investments appreciate at the rate of 10% per
annum.

Why start planning for retirement right away?

Both Ramesh and Vikram want to retire at the age of 60 years. To take care of his post-retirement
requirements, Ramesh invests a total amount of Rs. 35 lakhs towards his retirement corpus. On the other
hand, Vikram invests a total of Rs 50 lakh towards his retirement. Despite investing less, Ramesh accumulates
Rs 298 lakh, compared to Vikram's accumulation of Rs 216 lakh!. Read on to find out how..

What Ramesh had in his favour was TIME. He began investing a sum of Rs 1 lakh p.a. earlier, at the age of 25
years, up to the age of 60. Ramesh, to compensate for lost time, saved twice the amount invested by Ramesh
i.e. Rs. 2 lakhs every year from the age of 35, till the age of 59 years.

It is for this precise reason you should plan for your retirement now-and not later; so you get the
advantage of investments that multiply quickly each year, giving you the added advantage!

The graph above shows the retirement amount both Ramesh and Vikram accumulate by the age of
60 years. Please note: The assumption is that both investments appreciate at the rate of 10% per
annum.

32
How to plan for retirement?

5 simple steps to arrive at an ideal retirement plan

Step 1: Decide how much income you require to live comfortably in your post-retirement years.
Remember to take into account aspects like increased medical costs, vacations and gifts for family, but reduce
costs like children's education and rent, if you own your home. Use our easy Inflation Index Calculator to
calculate the impact of inflation.

Step 2: Determine how much you need to save regularly, starting today. Use our Retirement Calculator
to determine how large a kitty you will need and how much you need to save each year.

Step 3: Select the right retirement plan that enables you to meet your post-retirement requirements.
Preferably invest in market-linked plans, which can provide you with potentially higher returns in the long run.
Our Life Stage Profiler will help you select the plan that meets your criteria

Step 4: Start saving now so you have time on your side and can enjoy the power of compounding. Use our
simple Power of Compounding Calculator.

Step 5: Systematically invest a fixed amount every month for your post-retirement years.

Types of annuity

An annuity is a series or stream of payments. In the context of retirement planning, an annuity is a

contract between you and the insurance company under which the insurance company promises
pays you money for a stipulated period-often for life. You, the person receiving the payments, is
the "annuitant".

Types of annuity options offered by ICICI Prudential:

Life Annuity: In this plan, you receive annuities for as long as you live. Payments are no longer
made after your demise.

Life Annuity with Return of Purchase Price: You receive annuities for as long as you live and
your nominee receives the purchase price of the policy after demise. The purchase price refers to
the value of your investment corpus at the end of the accumulation phase (with which the annuity
was purchased).

Life Annuity Guaranteed for 5, 10 and 15 Years and Life Thereafter: You receive annuities
for a minimum term i.e. 5, 10 or 15 years. Annuities continue for life thereafter. If death occurs
before the end of the pre-decided term, the company pays the annuity till the end of that term to the
nominee.

Joint Life, Last Survivor Annuity without Return of Purchase Price: Both your spouse and
you will receive annuities for life.

Joint Life, Last Survivor Annuity with Return of Purchase Price: Both your spouse and you
will receive annuities for life. After this, the purchase price is returned to your nominee.

33
Read more about ICICI Prudential unit-linked LifeTime Super Pension, LifeLink Super Pension,
ForeverLife, & Immediate Annuity plans, right now

Retirement Solutions

To cater to the needs of a customer looking for retirement planning, ICICI Prudential presents a
wide array of products. These products have been designed to take into account the diverse set of
needs that characterize individual customers. Please click on the plans to know more about them
and identify which plan is just right for you.

Plan Type
Plan Name

LifeTime Super Pension Unit Linked

Unit Linked
LifeLink Super Pension Traditional
ForeverLife Traditional
Immediate Annuity

Healthy Living

It is the aim of all of us to lead a long and illness free life. Today this has become possible thanks not just to
Medical Technologies that are able to identify and effectively treat many diseases but also because a great
deal of knowledge has become available on how healthy lifestyles can help us live longer. Healthy living,
getting plenty of exercise, eating right and leading a stress free life are to a large extent responsible for
increasing life spans. In this world of instant food and instant fads what constitutes healthy living?

The key to Healthy Living comprises of

Nutrition
Exercise for the Mind & Body
Home Care

Check this month's Expert Speak on Health.

Healthy Living : Nutrition

We all know that certain types of foodstuffs are healthier than others and we are forever being
warned about the dangers of eating Junk food. So, what are the types of foods and their nutrient
powers? How healthy are some of the common foods that we eat?

34
Food Types and Nutrients

Food can be classified according to their functions:

Energy giving
Body building
Protective and regulatory

Energy Giving Foods keep us supplied with energy and are typically Carbohydrates.

Body Building Foods are the Proteins that are useful in developing Muscle mass and act as the building blocks
of the body

Protective and Regulatory Foods are Micronutrients, Minerals and Vitamins that play an important role in
fighting disease and regulate the metabolic functions of the body.

Major food types and their nutrient constituents:

Nutrients
Food Type Powers Examples
Present
Rice,
Wheat,
Ragi, Bajra,
Jowar, Corn
and
Major products
carbohydrate Energy made from
Cereal and Millet
source; Alsogiving these such
provides fat as cereal
flakes,
noodles,
macaroni,
bread and
cakes
Black, Red
Major protein
and Green
source; Also
Body gram,
Pulse, Lentil and Legume provides fat
building bengal
and
gram, peas
carbohydrate
and rajma
Milk,
Major proteinBody
Cheese,
source; Alsobuilding,
Paneer ,
Milk and its products provides fat
butter &
and Energy other milk
carbohydrate giving
products
Ground nut,
Major fatEnergy
cashew nut,
source; Alsostoring,
Nuts and Oilseed walnut,
provides Body
pistachio
protein building
and badam.
Fat and Oil Major fatEnergy Groundnut
source storing oil, coconut
oil, sesame
(gingelly)
oil,
sunflower
oil, butter

35
 and ghee
Green leafy
vegetables -
spinach,
lettuce,
coriander
and mint.
Roots -
beetroot,
carrot and
Major source ofProtective
radish.
Vegetables vitamins and&
Tubers -
minerals Regulatory
potatoes,
yams,
onions and.
Other
vegetables -
cucumber,
tomato,
ladies finger
and brinjal.
Yellow and
orange
fruits -
papaya and
mango.
Citrus fruits
Major source ofProtective - oranges,
Fruits vitamins and& lemons.
minerals Regulatory Dry fruits -
figs, dates,
raisins.
Other fruits
- banana,
pineapple,
grapes.
Fenugreek,
Turmeric,
tamarind,
Herbs, Condiments and
Phytochemicals cloves,
Spices
cardamom,
cinnamon
and pepper.
Mutton,
major protein Chicken,
Body
source; also eggs, fish,
building,
Meat, Poultry and Seafood provides a crab,
energy
significant Lobsters
storing
amount of fat and shrimp.

Healthy Living : Exercise for Mind and Body

 Fitness
 Yoga

Fitness:

36
A healthy adult needs a fitness programme that is a mix of three types of exercises.

Aerobic or Cardiovascular.
Strength Training or Muscular Fitness.
Stretches.

2 line descriptors for cardiovascular, strength and stretch excercise.

Ideally, you should work out for an hour thrice a week. After a warm up you can do twenty minutes of
cardiovascular exercises, twenty minutes of strength exercises, stretch exercises for ten minutes and then
warm down.

A fitness schedule helps you look good and improves self-esteem. If you fall ill, you recover faster. You
cope with stress better. You age actively. You are able to take care of yourself much longer into old age.
Fitness is essentially, optimising your mental and physical potential.

Yoga:

Yoga is recommended as a regimen that helps both the body and the mind. Two of the eight limbs of yoga
commonly practiced are:

Asana: These are not just a set of exercises or positioning of the body. They are the complete relaxation of
the cells of the brain and activation of the cells of the bodily organs.

Pranayama: Prana means all forms of energy - cosmic energy, mental energy, sexual energy and physical
energy. It is loosely translated as breath. Ayama is control; so, pranayama is control or discipline of breathing
to raise oneself to a state of silence and recharge.

Yoga in the modern day content:

The Muscles and joints: A sedentary work style and improper sitting postures result in many working
professionals being prone to cervical spondylitis, low backache and knee disorders. Yogic asanas like Tadasana
and Ustrasana strengthen and tone the joints and muscles very well and helps you avert these conditions .

The Heart and circulation: High levels of stress increases risk of a heart attack. Unhealthy habits of drinking
and smoking lead to elevated blood pressure and other cardiovascular diseases. Yogic asanas like
Dhanurasana and Tuladandasana helps you improve the blood flow to different parts of the body and prevent
blockages in the circulation.

The Lungs: pranayama is useful to prevent allergic disorders and also protects the lungs against harmful
effects of passive smoking. Pranayama is valuable in harnessing the large amount of energy that the modern
lifestyle needs. A minimum of fifteen minutes of pranayama every day will prove highly beneficial.

The Digestive and excretory systems : Unhealthy eating habits (irregular meals, hotel meals that have
high fat and many chemical additives like food colors, soda, preservatives etc) affect the metabolism of the
body, which could result in ulcers, diabetes, hypertension and problems of weight regulation. Yogic Asanas like
Pavanamuktasana and Utkatasana help control problems of hyperacidity (which could lead to ulcers) by
soothing the cells in stomach lining. Kidney functions can also be stimulated with Asanas like Trikanasana .

The Nervous system: The nervous system is most easily affected by hectic lifestyles. Regular, daily exercise
provides extra energy to tide over the day's strain, both mentally and physically. Yoga strengthens immunity,
as the nerves are made strong by all asanas.

The EndocrineGlandular System: Constant travel and late nights are some of the factors that alter the
functioning of the endocrine glands. Proper rest at the right time rejuvenates the cycle. Optimum recharging

37
of energy levels is thus ensured. Appropriate asanas refresh the endocrine glands by bathing them in fresh
blood. They can prevent jet lag as extra energy is available to the mind and the brain.

The Immune System Lack of sleep is one of the most potent forces generating stress on the immune
system, weakening the functioning of the cells. Improper diet is another cause for ill-health of the immune
system. All asanas are helpful. Pranayama is valuable for the immune system.

Please learn and perform asanas under the supervision of a trained yoga professional.

Healthy Living - Home Care

Personal Hygiene is the first step to good grooming and good health. Quite often , good looks are the result of
careful and continuous grooming. It impacts on the perception of the individual in the society. It gives you
self-confidence and helps you create a positive impression both in your professional and personal life.

Every external part of the body demands a basic amount of attention on a regular basis. Here are some
grooming and personal care routines.

Eyes
Hair
Skin
Teeth
Hands & Nails
Feet

Eyes

An annual eye examination is advisable.

Avoid rubbing or squeezing your eyes often. If there is significant irritation in the eyes, consult your
eye doctor.

Avoid looking directly at the sun, welding electrodes or any other source of very bright, intense light.

38
 .Try to watch television from a minimum of six screen lengths from the set, which is the
recommended distance. Also avoid watching television for long hours.

If you have any systemic diseases like hypertension or diabetes, see your eye doctor. The eyes are
very often damaged in these conditions and early detection and treatment is crucial.

Do not use excessive eyeliners or other makeup material for the eye. Some of these could irritate
and cause problems for the eye.

Hair

Wash your hair at least once a week using soap or mild shampoo. Dry your hair after a wash.

Brush your hair three to four times a day with a soft bristled brush or a wide toothed comb. Wash
your brush and comb every time you wash your hair.

Oil the scalp, once a week, preferably an hour before hair wash.

Skin

Soap and water are essential for keeping the skin clean.

A good bath once or twice a day is recommended.

The genitals and the anal area need to be cleaned well because of the natural secretions of these
areas can cause irritation and infection.

Wash off well after soaping. Drying with a clean towel is important. Avoid sharing soaps and towels.

Around middle age the skin tends to go dry a bit. A moisturising oil or cream (preferably used during
the night)can be used to avoid this.

Teeth

Brush teeth twice a day and rinse well after every

meal. Brushing before going to bed is important.

While brushing, brush down on the upper teeth and brush up on the lower teeth. Use a circular
motion. Pay attention to the tongue and the inner surface of teeth as well.

39
 Use a brush with resilient bristles. It should be rinsed well and left to dry after use.

Use a toothpaste without harsh abrasives or strong antiseptics.

Hands & NailsEyes

Wash hands thoroughly with soap and water before and after every meal and after visiting the toilet.

Soaping and rinsing should cover the areas between fingers, nails and back of the hand.

Hands should be dried with a clean towel after wash.

If you need to use a handkerchief or tissue, wash your hands after that.

Keep your nails short.

Nail Polish users should see that it does not chip off into the food.

Clip nails short, along their shape. Don't cut them so close that it pinches the skin.

A healthy body ensures healthy nails. Brittle or discoloured nails show up deficiencies or disease
conditions.

Do not keep your nails painted continuously. It causes the keratin, of which nails are made, to split.

Feet

Give your feet a good scrub with a sponge, pumice stone or foot scrubber that is not made of very
abrasive material when having a bath. Dry after bath

between toes. Keep toenails clipped.

Those who use shoes constantly need to slip them off now and then. This airs the socks a bit and
makes them less smelly. Wear cotton socks. Wear a clean pair everyday.

Powder your feet before wearing socks. Many people have sweaty feet, and socks and shoes can get
quite smelly.

Give importance to wearing comfort in the choice of footwear. For those who go barefoot indoors,
door mats must be cleaned or changed frequently.

Extra foot care is required for diabetics.

40
Healthy Living - Expert Speak

In this month's Expert Speak the focus is on the prevention of cancer. Can a healthier diet help in preventing
cartain types of cancer? While we do know that we are genetically prone for certain cancers can this risk be
modified?

Let's ask the experts to know more:

Dr.Vikram Ananthakrishnan, M.S.D.N.B., FRCS, Noted General Surgeon explains the possible connection
between Diet and Cancer:

What is the role of diet in Cancer?

Diet, which is rich in fats, is a cause for Cancer of the colon and Breast Cancer:

Fat and Colon Cancer

Fats are difficult to digest. They require more of bile salts to digest them. These bile salts along with the fat
come in contact with the inside of the colon (mucosa)and they induce Cancer formation. This alarming trend is
now seen in our population that seems to be embracing the western diets and habits.

Fat and Breast Cancer

In obese individuals there is more conversion of Cholesterol into estrogens (female sex hormone). This
hormone is one of the causative agents in Breast Cancer.

Do vegetables and fruits prevent Cancer?

Vegetables and fruits contain vitamins and antioxidants that prevent the growth of Cancer.
They also help in the immunological surveillance of Cancer (body's defence mechanism).
This is similar to the defence against infections. The immune mechanism will destroy what it finds abnormal.
They also contain fibre that helps to prevent Colon Cancer.
A high fibre diet prevents Colon Cancers because it dilutes the Cancer-causing irritant and also makes the
motion move faster.

Are there any protective genes against Cancers?

There are protective genes against Cancers.

Do people with lower immunity develop Cancer?

Defective immunity is a cause for Cancer.

What is the role of genetics in Colon Cancer?

41
People who have polyps (outgrowths) in the colon, which is carried by a defective gene, can develop Colon
Cancer. This can run in families and can be prevented by removing either the polyp or the colon depending on
the type of involvement.

Screening for Colon Cancers

Colon Cancers can be picked up on doing a test called colonoscopy. Here a tube is passed through the anus
after the colon is completely evacuated of all motion (faeces).

Colon Cancer’s symptoms are diarrhoea alternating with constipation, anaemia, blood in stools, weight loss
and loss of appetite.

Dietary patterns have changed. Has this had an impact on Cancers of the stomach?

There seems to be an increase in the incidence of Cancer of the upper end of stomach. The Cancer of the
lower part of stomach (closer to the small intestine) also called antrum of stomach is decreasing in incidence.
The Cancer of upper stomach and lower oesophagus are associated with rich diets, smoking and alcoholism.
(Also called diseases of the affluent.)
These factors cause reflux of the stomach contents into the lower part of food pipe (oesophagus). This in turn
causes Cancer of the lower end of food pipe (oesophagus) and upper stomach. Incidentally both the treatment
and outcome of both these diseases are similar.

What causes (Antral) lower end stomach Cancer?

One of the causative agents for lower end of stomach Cancer is deep fried food; especially those fried with
recycled oils. This is commonly seen in our country where we use plenty of oil say to fry puris or chips and use
this same oil to fry some other food.
In medical parlance this causes increase in the amount of nitrogenous compounds and this causes Cancers.

Screening for stomach Cancers

Stomach can be screened using a test called endoscope. This is a flexible tube which is passed through the
mouth after the patient has fasted for 6 hours.

How does stomach Cancer manifest?

Anaemia, loss of appetite, loss of weight, and malaise can be noticed in people with Stomach Cancer.
If the Cancer is located in the upper end it presents as difficulty in swallowing.Cancers in the lower end of the
stomach present as vomiting.

Is there some thing we could do to prevent Cancer?

There is no surefire preventive measure. But it is good to remember the following:

- Fruits and vegetables decrease the susceptibility to Cancer.

- Fatty foods, especially of animal origin, are harmful.
- Look for warning signs. Undertake regular screening for Cancer. Early detection increases your chances of
control and cure.
- Prevent environmental pollution and guard yourself against polluted environments.

42
Dr. Vikram Ananthakrishnan M.S., D.N.B., F.R.C.S.

Dr.Vikram Ananthakrishnan completed his M.S. in General Surgery from the Grant Medical College, Bombay
and then his Diplomate of The National Board, India (D.N.B). He completed his F.R.C.S. from Royal College of
Surgeons, Glasgow, U.K.

Dr.Vikram is currently an Assistant Professor in the Department of General Surgery at Sri Ramachandra
Medical College, Chennai. He is also a visiting consultant at The Apollo Hospitals, Chennai. His special area of
interest is laparoscopic surgery, colon & rectal surgery.

5 reasons why health covers are a must

A health cover insures you against several illnesses and guarantees you stay financially secure should you
ever require treatment. The cover ensures you are taken care of by compassionate and competent doctors at
the best hospitals. It thus safeguards your peace of mind, eliminates all worries about treatment expenses,
and allows you to focus your energy on more important things, like healing.

Indians at greater risk

Reason 1: Lifestyles have changed: Indians today suffer from high levels of stress. Long hours at
work, little exercise, disregard for a healthy balanced diet and a consequent dependence on junk
food have weakened our immune systems and put us at an increased risk of contracting illnesses
Reason 2: Rare non-communicable diseases now common: Obesity, high blood pressure, strokes,
and heart attacks, which were earlier considered rare, now affect an increasing number of urban
Indians-almost every day.

Shocking Truths

• 18% of the urban population suffers from hypertension, which leads to renal failure, stroke
and cardio vascular diseases
• 30% of the population suffers heart attacks before age 40
• 66% of deaths today are due to cardio vascular diseases
• Almost 3.5 million Indians suffer from diabetes
• Cardiovascular diseases (CVDs) like heart disease and stroke are the main causes of death
and disability

The Cost Factor

Reason 3: Medical care is unbelievably expensive: Medical breakthroughs have resulted in cures
for dreaded diseases. These cures, however, are available only to a select few. High operating
expenses—therapy for breast cancer costs as much as Rs. 2 lakhs for 3 days—have restricted
treatment to the richest. In fact, even among the affluent groups, 20% need to sell their valuable
assets so they can accumulate the required amount for their medication.

43
Reason 4: Indirect costs add to the financial burden: Indirect sources of expense—travel,
boarding and lodging, and even temporary loss of income—account for as much as 35% of the
overall cost of treatment. Most often, we overlook this fact when planning for medical expenses.

Reason 5: Incomplete financial planning: Most of us have insured our home, vehicle, child’s
education, and even our retirement years. Ironically however, we have not insured our health. We
ignore the fact that illnesses strike without warning—and seriously impact our finances and eat
into our savings in the absence of a good health cover.

Health cover: A must-have

No financial plan is complete without a comprehensive health cover. ICICI Prudential offers 3
critical illness covers: HealthAssure, HealthAssure Plus and Cancer Care. Each of these plans
provides you with guaranteed sums should you ever be diagnosed with a critical illness. The
benefit amount takes care of all your treatment costs and ensures your hard-earned savings stay
intact.

Are you adequately insured?

Sound health cover planning ensures you receive both, direct medical expenses and indirect
expenses, as soon as the need arises. When investing, choose a range of health plans that:

44
 • Cover a wide spectrum of medical conditions from the most basic to the most critical
• Include reimbursement and benefit-based plans, which enable you to meet specific health
risks and expenses as mentioned in the diagram below

An example: Cancer—although it does not occur as frequently as the common cold or fever—
severely drains one’s finances as its treatment expenses are very high. Hence, it is imperative to
insure ourselves with a health plan that provides cover against Cancer.

Quick tip

When selecting a health plan, ensure the plan:

 Provides long-term coverage

 Clearly mentions exclusions of cover
 Is guaranteed renewable
 Is backed by trusted name and gives the assurance of paying claims

45
Health Product Suite

Health Product Suite:

Under Health Product Suite, ICICI Prudential offers plans under the following major need categories:
HealthAssure
HealthAssure Plus
Hospital Care
Cancer Care
Cancer Care Plus
Diabetes Care
Diabetes Care Plus

Why HealthAssure?

When you suffer at the hands of an illness, your loved ones urgently do all they can to heal you
and restore your health and happiness. During their difficult moments you would undoubtedly
wish they had strong support-an additional source of income with which you and your family
could meet the sudden medical expenses.

ICICI Prudential's HealthAssure has been thoughtfully structured, by compassionate insurance

experts, such that you can financially secure your health. HealthAssure provides an insurance
cover against 6 critical illnesses, including Cancer, Bypass Surgery and Heart Attacks. In an
emergency, you can claim up to Rs. 10 lakhs and safely meet your critical expenses.

Read more about the features and benefits of HealthAssure-a comprehensive health policy, which
complements your financial plan and also pays for direct and incidental expenses during the course
of your treatment

HealthAssure at a Glance

Coverage Against Cancer, Coronary Artery Bypass Graft/Surgery, Heart Attack,

Kidney Failure, Major Organ Transplant, and Stroke

1,50,000
Minimum Sum Assured

Maximum Sum Assured 10,00,000

18 years to 55 years
Minimum/Maximum Entry Age

65 years
Maximum Age at Policy Maturity

Minimum Policy Term 10 years

Maximum Policy Term 30 years

46
 Rs. 1,800 p.a
Minimum Premium

Freelook Period 15 days from the date on which you receive your documents

Tax Benefits Tax benefits under Sec. 80 (D) up to Rs. 10,000

Features and Benefits of HealthAssure

ICICI Prudential's HealthAssure Plan is a long-term insurance cover, which empowers you to claim up to as
much as Rs. 10 lakhs on the diagnosis of any of the 6 covered critical illnesses.

Take a look at the features and benefits of investing in HealthAssure:

Long-term coverage against 6 critical illnesses: Choose a cover, for as long as 30 years with a
premium guarantee for 5 years, depending on your age

Sum Assured of up to Rs. 10 lakhs: Receive the Sum Assured on diagnosis of any of the 6
covered critical illnesses: Cancer, Coronary Artery Bypass Graft/Surgery, Heart Attack, Kidney
Failure, Major Organ Transplant, and Stroke.

The Sum Assured payments are described in the table below

Benefit Amount (Applicable Sum Assured)

Time Elapsed Since Plan Was Purchased

First 6 months Return of premiums (excluding any extra premiums)

paid till date

6 months to 1year 50% of the Sum Assured chosen under the plan*

After 1 year Full 100% of the Sum Assured chosen under the
plan*

*Sum Assured is payable only on survival for 28 days after the date of diagnosis.

Flexible withdrawal options: Choose to receive the benefit amount either in a lump-sum amount or in
installments over 5 years. These installments will be payable as 25% in the first year and 20% each year for
the next 4 years.

No medical/other bills: Receive your claim amount on diagnosis without having to show any bills.

No medical examinations: Enjoy a waiver on medical examinations if you choose a Sum Assured up to Rs.
5 lakhs till age 45.

If you would like to know more about this plan, please click here for our advisor to contact you!

Why HealthAssure Plus

47
Illnesses have a way of sneaking up on us, weakening our financial stability and stealing our
family's peace of mind. It is best to keep oneself insured at all times against the most critical
illnesses that are also the most common: Cancer, Coronary Artery Bypass Graft or Surgery, Heart
Attack, Kidney Failure, Major Organ Transplant, and Stroke.

ICICI Prudential's HealthAssure Plus financially insures you against these six critical illnesses.
Should you ever be diagnosed with one or more of these, HealthAssure Plus provides you with a
fixed sum, irrespective of your actual medical expenses. The health plan thus shoulders the heavy
costs of your treatment and ensures you stay financially stable, come what may.

This financial guarantee during illness is not all that HealthAssure Plus delivers. HealthAssure
Plus comes with an added benefit: it insures your life, as well. So should an unexpected accident or
disability claim your life, your family will receive the entire Sum Assured-an amount large enough
to ensure they live securely, even in your absence.

Read more about the features and benefits of Heath Assure Plus.

Why Hospital Care?

Today, when you are young and healthy, planning for a contingency is not always a priority but the
cost of treating even the smallest of ailments is on the rise. You realize it only when you or your
loved ones has to undergo some medical emergency and you are faced with the challenge of
organizing funds to meet the hospitalisation related expenses. Hence a medical emergency comes
not only with emotional turmoil but also with a huge expense attached to it.

During such an unexpected situation, your only concern should be that the best doctors and
medical facilities are available and cost should not be a constraint so that you can take care of
things without compromise but to ensure that best in class treatment is provided, the key to that is
to be financially prepared for it.

To help you manage this unexpected emergency, ICICI Prudential, India's No. 1 private life
insurer presents Hospital Care - a comprehensive insurance policy that has:

• Facility of cashless hospitalisation in more than 3000 network hospitals.

• Benefit amount will be paid in addition to payment received by you from other medical insurance
plans.

• You will receive lump-sum benefit amount, irrespective of the actual billing.

• Long term guaranteed coverage up to 20 years.

• Tax benefits on premium paid up to Rs.15,000 under Section 80D.

Why Cancer Care

48
As someone who has seen family members and friends struggle to survive Cancer, you have
undoubtedly suffered yourself. You know the extent to which the illness drains the family; that the
loss is both emotional, and financial.

You would have also read, time and again, articles where medical experts unanimously agree that
Cancer can attack anyone, anywhere, at any time. But this truth is only one part of the whole
picture. Doctors also verify that those with a family history of Cancer are especially prone to being
affected by it.

Given all these important facts, have you stopped for a moment and asked yourself, "Why have I
not insured myself against Cancer?"

ICICI Prudential suggests you insure yourself, right away, with Cancer Care-a comprehensive
Cancer insurance policy, which enables you and your family to stay financially and mentally
secure should you be diagnosed with early or advanced Cancer.

Read more about the features and benefits of this plan that provides you with a Sum Assured of up
to Rs. 25 lakhs.

Why Cancer Care Plus

This Plan goes a set beyond providing you comprehensive coverage against Cancer by providing a
wellness program to all the Cancer Care Plus policy holders.

Cancer does not discriminate between the rich and poor, young and old, educated and uneducated.
But the good news is that if detected early, the chances of surviving the illness increases
substantially.

Keeping this in mind, ICICI Prudential introduces Cancer Care Plus - A wellness plan that
includes all the benefits of Cancer Care and also provides an additional critical benefit: FREE
periodical cancer screenings at a partner diagnostic centre close to you.

These regular cancer screening tests empower you to proactively keep a track of your health,
detecting any early signs of cancer and taking immediate treatment.

With Cancer Care Plus, you not only safeguard your well-being but also your savings, which stays
intact, for this comprehensive plan pays for diagnosis, oncological treatment and surgery of early
and advanced Cancer.

Cover yourself with Cancer Care Plus today. It is the surest way to keep yourself well-armed
against India's most rapidly growing illness.

Wellness Program

What sets apart Cancer Care Plus is its unique Wellness Program. This is a screening package that

49
enables you to undergo specific tests, free of cost. The tests will be conducted once in 2 years,
starting from the second year of the policy. This program will help in diagnosing the possibility
of cancer at the earliest stage, thereby initiating early treatment and increasing the chances of
survival. The tests will be conducted by the Company's empanelled medical centers.

Benefits of the Wellness Program are applicable only on policies whose premiums have been paid till date.
However, there is no alternative cash benefit in lieu of these tests.

Why Diabetes Care?

Diabetes Care is the 1st ever critical illness insurance policy for Type 2 diabetics and pre-diabetics. Diabetes
Care not only provides financial support but also helps you manage your condition more effectively.
Key Benefits of Diabetes Care
Lump-sum payment on diagnosis of any one of the six critical illnesses.
Optional cover for eye & foot complications.
Wellness program - 3 Free check-ups and a consultation with a doctor every year.
Reduced Premium on display of good control.
Tie-ups with leading healthcare partners to help you Manage diabetes.
Web support for better diabetes control.
Tax benefit under Section 80D of the Income Tax Act.
The lump-sum amount is paid on diagnosis, irrespective of your expenses. We don't require any
medical bills and you can use the benefit amount to meet cost of treatment and any other concomitant
expenses.

Why LifeLink Super Pension

ICICI Prudential's LifeLink Super Pension has been especially tailored for individuals who would much rather
make a lump-sum investment than pay premiums at regular intervals for their retirement planning. A cost-
effective single premium unit-linked pension policy, LifeLink Super Pension provides potentially higher
returns that ensure your golden years are secure and peaceful.

Invest in LifeLink Super Pension today and watch your money multiply every month, right up to the day
you retire. Receive an assured income from your retirement day, for the rest of your life. Read more about the
features and benefits of this plan.

Read more about the features and benefits of this unique pension plan.

Features and benefits of LifeLink Super Pension

One-time lumpsum payment: Make a single investment of as little as Rs. 25,000.

Investment funds: Select among Flexi-Growth, Maximiser, Flexi-Balanced, Balancer, Protector, and
Preserver, based on your financial goals and risk profile.

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Pension options: Out of the five annuity options, pick one that will best suit your post-retirement
requirements.

Pre-decided retirement age: Determine the age at which you want to start receiving your pensions. The
minimum age of receiving pensions is 45 years.

Switch benefit: Switch between funds anytime to adjust your portfolio, based on your goals and risk profiles.
You can switch funds 4 times a year, at no cost. For subsequent switches, you will be required to pay a switch
fee of Rs. 100.

Tax benefits: Receive up to one-third of the accumulated value as a tax-free lump sum on your retirement
day. Also enjoy tax benefits on the premiums you pay (under u/s 80 CCC).

Why LifeTime Super

As an individual who desires a lot from life-a car, a beautiful home and of course, the comfort and
contentment of your family-you would undoubtedly want to plan your finances such that you can
take care of all your requirements.

Invest in ICICI Prudential's LifeTime Super policy-a regular-premium unit-linked policy, which
offers potentially higher returns that systematically enable you to meet your long-term financial
objectives. In addition, LifeTime Super also provides the protective benefit of an insurance cover,
which keeps your family secure, always.

LifeTime Super at a glance

Minimum/Maximum Entry Age 0 years to 65 years
75 years
Maximum Age at Policy Maturity

10 years to 75 years
Minimum/Maximum Policy Term

Premium Payment Frequency Monthly, half-yearly, yearly

Minimum Premium Rs. 18,000 per annum
Annual Premium x Term/2. Subject to a minimum
Minimum Sum Assured of Rs. 1,00,000

Tax Benefit (8) Premium paid for the policy and critical illness
benefit rider will be eligible for tax benefit under
Sec. 80C and 80D respectively. Any amount paid
to you will be eligible for tax benefits under Sec.
10 (10D) as per prevailing Income Tax laws.

Features and benefits of LifeTime Super

Flexible policy term: Decide for how long you want your policy. You can invest for a minimum
of 10 years and a maximum of 75 years.

3 choices of premium payment: Opt to pay the premium on a monthly, bi-annual or an annual
basis.

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6 investment funds: Select among Flexi-Growth, Maximiser, Flexi-Balanced, Balancer, Protector,
and Preserver, based on your financial goals and risk profile.

Systematic withdrawal of money: Withdraw money in installments from the 4th year onwards.

Maturity benefit: Receive the Fund Value when your policy matures. Choose to take this value as
a single lump-sum amount or in monthly, bi-annual or annual installments.

Death benefit: Your family receives the higher of Fund Value or Sum Assured should something
happen to you.

Switch benefit: Switch between funds anytime to adjust your portfolio, based on your goals and
risk profiles. You can switch funds 4 times a year, at no cost. For subsequent switches, you will be
required to pay a switch fee of Rs. 100.

Why PremierLife Gold

Knowing the dynamic nature of the environment and your profession, you certainly prefer plans
that do not require you to make long-term financial commitments. You would much rather have
the freedom to invest for short periods, say three or five years, and still enjoy good returns for the
rest of your life.

ICICI Prudential's PremierLife Gold has been tailored to precisely meet your requirements. One of
the finest wealth creation plans available, PremierLife Gold provides you with the benefit of
paying premiums for a brief period but enjoying the benefits of cover and potentially higher
returns over the long run. Put simply, PremierLife Gold ensures you enjoy long-term benefits even
when you make short-term investments.

Read more about the features and benefits of this unit-linked plan that doubles up as an insurance
cover to safeguard your family's wellbeing.

Tax Benefits on Insurance and Pension

Life insurance and retirement plans are effective ways of saving taxes.

The tax breaks that are available under our various insurance and pension policies are described
below:

1 Our life insurance plans are eligible for deduction under Sec. 80C.

52
2 Our Pension plans are eligible for a deduction under Sec. 80CCC.

3 Our health insurance plans/riders are eligible for deduction under Sec. 80D.

4 The proceeds or withdrawals of our life insurance policies are exempt under Sec 10(10D),
subject to norms prescribed in that section.
Tax Rates for Individuals
RATE OF TAX
Total Income (Rs.)
Senior Women
below Others
Citizen
65 yrs
Nil Nil Nil

Upto Rs 1,00,000/- Nil Nil 10%

Nil 10% 10%

Above Rs 100,000/- to
135,000/-
Nil 20% 20%

Above Rs 135,000/- to
20% 20% 20%
150,000/-
30% 30% 30%

Above Rs 150,000 to Rs
185,000

Above Rs 185,000 to Rs
250,000

Above Rs 250,000/-

In case where the Total Income exceeds Rs 10,00,000, there would be a surcharge @ 10%.Marginal relief is
available to assessee whose income just exceeds Rs. 10,00,000.

Education Cess on Income Tax

Educuation Cess @2% will be payable on the amount of income tax (including surcharge).

Explanation of Tax Benefits

Premiums paid for Life insurance - Deduction under Section 80C

1. Category of assesses allowed deduction : Individual assessee and Hindu Undivided Family
assessee.

2. Eligible Savings : Premiums paid or deposited by assessee to effect or to keep in force

53
insurance on the life of following persons:

- In case of individual assessee - Himself/Herself, spouse, children of such individual

- In case of HUF assessee - any member

3. 20% limit : If the amount of premium paid in a financial year for a policy is in excess of 20% of
the actual capital sum assured, then deduction will be allowed only for premiums upto 20% of the
sum assured.

4. Limit on amount of deduction : Deduction will be restricted to investments upto Rs 100,000 in

savings specified under Section 80C (including life insurance premiums). If any investments have
been made under Section 80CCC and 80CCD, then the qualifying amount under Section 80C will
stand reduced to that extent.

Premiums paid for Pension plans - Section 80CCC

1. Permitted Deduction : Section 80CCC allows for deduction of premiums paid under a
pension plan. As per this Section, premiums paid upto Rs 1,00,000 by an individual is allowed as
deduction from his total income.

2. Disallowance : This benefit will be reversed if the policy lapses / is cancelled.

3. Limit : It may be noted that from FY2005-06, the limit of deduction under Section 80CCC will
be part of the overall limit prescribed under Section 80CCE.

4. Receipt under Policy : Amounts received on surrender (whole/part) of annuity plan, amounts
received as Pension is taxed as income.

Premiums paid for medical insurance - Section 80D

1. Category of assesses allowed deduction : Individual assessee and Hindu Undivided Family
assessee .

2. Eligible premiums : Premiums paid by assessee by cheque out of his taxable income to effect
or to keep in force an insurance on the health of following persons:

- In case of individual assessee - Himself/herself, spouse, dependant children and dependant

parents.
- In case of HUF assessee - any member of HUF

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3. Deduction and upper limit : The qualifying amounts under Section 80D is upto Rs 10,000/-.
However, a higher amount of upto Rs 15,000/- is permitted if the person, for whose health
insurance the premium was paid, was aged 65 years or more at any time during the financial year
in which the premium was paid. Such amounts of premium paid would be allowed as deduction
from the total income of the assessee.

Overall deduction limit - Section 80CCE

A new Section 80CCE has been inserted from FY2005-06. As per this section, the maximum
amount of deduction that an assessee can claim under Sections 80C, 80CCC and 80CCD will be
limited to Rs 100,000.

Benefits under insurance policy - Section 10(10D)

As per Section 10(10D) of Income tax Act, 1961, any sum received under a life insurance policy,
including the sum allocated by way of bonus on such policy is exempt from tax. However, this rule
does not apply to following amounts:

- sum received under Section 80DD(3), or

- any sum received under a Keyman Insurance Policy, or
- any sum received other than as death benefit under an insurance policy which has been issued on
or after April 1 2003 and if the premium paid in any of the years during the term of the policy is
more than 20% of the sum assured.

Rebate in respect of Securities Transaction Tax (STT) paid

1.Section 88E has been introduced by Finance Act (No 2) of 2004.

2. As per the provisions, where total income of an assessee includes any income under the head
'Profits and Gains from Business or Profession' arising from taxable securities transactions, he
shall be entitled to a rebate from the income tax on such income.

3. Amount of rebate : Amount of STT paid in respect of taxable securities transactions entered
into in the course of business during that previous year.

4. The deduction will be allowed if proof of payment of STT is furnished alongwith the return.
The proof has to be furnished as per the format prescribed by Income Tax.

5. Maximum deduction shall be equal to the amount of income tax on above income.

The above information is to give a general overview of some aspects of the tax laws as
prevailing currently (as of end Jan 2006), and is not and neither intended to be a tax advice.
The above information is subject to change with the change in tax laws. Company is not liable

55
to inform change in the above to any person. The above provisions may apply differently as per
the specific situation of a person.

CONCLUSION

56
1)What is life insurance?
Life Insurance is an agreement that guarantees payment of a stated amount of monetary benefits at the end
of a specified term or on the death of the life insured.

2) Why do I need life insurance?

Life Insurance provides for financial security in the event of death or on the inability to earn due to physical
disabilities. Besides providing for financial security in the case of one's untimely death, it can be used to
accumulate a kitty for your old age, systematically build assets, for funding your child's education and also for
saving on taxes.

3) I know I need life insurance, but cannot afford the coverage I need. Can I do anything to lower
the cost?
The cost of life insurance depends on three factors: your age, health and your income. We suggest that you
not compromise on the level of protection you require. You could purchase a basic protection policy that gives
you the opportunity to pay only the minimum premium. You can choose this affordable policy, without any
riders.

4) Where can I find more information on life insurance?

Our certified insurance advisors understand your requirements and propose the suitable life insurance policy
for you.

Nomination

1) What is nomination? And who is a nominee?

Nomination is a right conferred on the life insurance.

policyholder to appoint a person or persons to receive the policy monies in the event of the policy becoming a
claim by death. Any policyholder, who is a major and the life insured under a policy, can make a nomination.

57
A nominee is the person designated by the policyholder to receive the proceeds of an insurance policy, upon
the death of the insured.

2) Can I change my nomination?

Yes. You can change your nomination at any time till the maturity date. All you need to do is to inform us
about the change through the specified form.

3) What details am I to provide about the nominee/s?

The following details are necessary when filling in the proposal form: full name of the nominee, address, age,
and the relationship between you and the nominee.

4) What is the difference between nomination and assignment?

While nomination is an authorisation to receive the policy monies in the event of death of the life assured, it
does not give the nominee an absolute right over the money received to the exclusion of other legal heirs.
Further, the nomination can be revoked or cancelled at any time during the lifetime of the policyholder at his
will and pleasure or by a subsequent assignment.

On the other hand, assignment of an insurance policy is a transfer or assignment of all rights and liabilities of
the insurance policy in favour of the assignee.

Claim

1) What is a Claim?
A claim is the payment made by the insurer to the insured or claimant on the occurrence of the event specified
in the contract, in return for the premiums paid for the insured.

2) What parameters are considered by the company while asking the claimant to submit particular
records / document?
The Company considers the Sum at risk, cause, circumstances of claim and duration of the policy while asking
for certain requirements. Eg. For accidental death, specific proofs such as Post Mortem and Police Report are
required whereas for death due to illness, the Company calls for records from hospital, test reports, etc

3) Once all the requirements are submitted, how much time does the Company take to settle the
Claim?
The Company settles the Claim within 8 working days after all the records, documents and necessary forms
are submitted and documentation is completed.

In case, the Claim warrants further verification, the Company.

keeps the Claimant informed of the same. Subsequently, when the decision is taken, it is communicated to the
Claimant by a letter. From November 2005, we have started sending SMS Alerts to the advisor of the policy to
enable the quick communication of the decision of the claimants.

4) What is IRDA?
IRDA is Insurance Regulatory Development Authority, that has been set up to protect the interests of the
policy holders, to regulate, promote and ensure orderly growth of the insurance industry and for matters
connected therewith or incidental thereto. [This definition has been taken from the IRDA website]

58
5) What are IRDA guidelines pertaining to Claim processing?
As per IRDA (Insurance Regulatory Development Authority), the Insurance Company is required to settle a
claim within 30 days of receipt of all requirements.

However, if the claim warrants further verification, the Company should complete its procedures within 6
months from receipt of written intimation of the claim. If the Company settles the claim beyond 6 months
period, the interest is payable by the Company on the claim amount. The interest is payable only where the
Claimant has submitted all the requirements. Further, rate and period of interest are decided as per IRDA
guidelines.

6) Who is entitled to receive the Claim benefit?

· The nominee or appointee (in case of minor nominee) last recorded under the Policy in case of Policy on own
life.
· The proposer in case the Policy is not on own life.
· Assignee in case the Policy was assigned.
· Life Assured himself in case of policy on own life for living benefit claims (Eg Critical Illness rider)

7) How do I make a Maturity Claim?

You must send us the:
- Completed Claim form
- Policy of life assurance
- Proof of age, if not submitted earlier

Policy Servicing

1) What is the benefit of opting for riders / add-ons?

Riders / add-ons are the additional benefits that can be added to the basic old policies prior to July 1, 2006, by
paying a marginal additional premium. Riders offered by us are:
a. ADBR: Accident & Disability Benefit Rider
b. ABR: Accident Benefit Rider
c. CIBR: Critical Illness Benefit Rider
d. WOPR: Waiver of Premium Rider.
e. IBR: Income Benefit Rider.

2) What is the difference between switch and redirection?

A switch will enable you to shift the existing units of your unit-linked policy into a new fund and will not
change your future premium allocation.

A premium redirection will enable you to change your allocation for all the future premiums of your policy.
However, your existing units will not be shifted into a new fund.

3) In case I lose my policy document how do I obtain a duplicate policy?

You will need to pay the charges towards the issue of a duplicate policy, which will also include the charges for
stamp fee. We will send a ‘Duplicate Policy Request’ form that you will need to fill and send us. You will also
need to send us additional requirements like FIR copy/advertisement in the newspaper

4) How will the Net Asset Value (NAV) be calculated for my servicing requests?
The Net Asset Value (NAV) is applicable at the time of valuation/purchase. It is calculated as the value on the
day you make a transaction request (provided it is a working day).

59
5) How do I notify a change in address? OR How can I change my policy details?
You have the following options:
1. Download the ‘Change Request’ form from the Download Centre section of our website, fill and send it to
us.
2. Call our Customer Service Helpline numbers mentioned in the Contact Us section of the website.
3. Or write to us at the corporate address mentioned in the Contact Us section of the website.

6) How do I effect a Top- up/Fund Switch/Premium Redirection?

1. Download the appropriate form from the Download Centre section of our website, fill in and send it to your
nearest ICICI Prudential Branch.
2. For Switch and premium redirection, you can login to the website with your user id and password and give
your request online.

7) Can I change the frequency of payment for my policy?

Yes, you can change the premium frequency from low (annual) to a higher frequency (bi-annual or monthly)
or vice-versa.

8a) What do I need to do when the life assured becomes a major?

When the life assured becomes a major, you need to submit the proof of his/her age with his/her correct date
of birth. You also need to write a covering letter.

8b) Can I change the date of birth after the free look period? If yes, what are the documents
required?
Yes, you can change the date of birth after the free look period. All you need to do is submit the proof of age
with the correct date of birth, along with a covering letter.

9) When does a policy lapse?

A policy lapses when the policy holder fails to pay the premium even within the grace period. In this case, the
policy loses all its benefits.

Partial /withdrawal/Assignment

1) Can I surrender my policy?

After you pay premiums for at least three consecutive years, your policy acquires a surrender value and you
can surrender the policy. If you have an ICICI Prudential single premium policy, you can surrender your policy
after the first year.

2) What do I need to do to surrender my policy?

You need to submit a ‘Surrender Request’ form which is available in Download Centre section of our website.
Alternatively, you can contact us at any of our touch points.

3) What is partial withdrawal?

Partial withdrawal of a policy implies withdrawal of only a part of the funds of your policy. The applicable
norms for partial withdrawal may differ for every product. For product-specific details on the same, please
refer to the respective product brochures that are available in the Products section of our website.

4) What are Top-ups?

Top-ups are one-time payments. You have the flexibility to make an additional investment through a top-up,
which is over and above your regular premium payments. You can make a top-up at any time while your
policy is in force. The applicable norms for top-ups may differ for every product. For product-specific details on
the same, please refer to the product brochures available in the Products section of the website.

5) What is ‘transfer’ or ‘assignment’ of a life insurance policy?

Transfer or assignment is a method of transferring one’s transferable interest in a life insurance policy to
another person or institution, for example, as a security for repayment of loans.

6) Can I assign a policy?

Yes, you can assign a policy. To assign the policy, you have to notify us regarding the assignment.

60
7) How do I assign a policy or transfer a life insurance policy?
Assignment or transfer of a life insurance policy may be made by simply making an endorsement to that effect
in the policy document. Another way of transferring or assigning the life insurance policy is to get a separate
assignment deed executed.

The former case is the preferred mode of assignment as it is exempt from further stamp duty. An assignment
should be signed by t the assignor or his duly authorized agent, and should specifically state the fact of
transfer or assignment. The document should be attested by at least one witness.

8) Is assignment allowed on all the insurance plans?

Assignment is applicable on all insurance plans except Pension Policies and Married Women’s Property Act
(MWP).

RECOMMENDATIONS

61
 Insurance Plan’s For NRI’S:

Being away from India doesn't mean you have to compromise the safety and security of your
loved ones. In fact, your savings from your time overseas can be easily channeled to meet your
family's needs - now and for the future. So, whether it's your dream to retire in your hometown;
to secure funds for your children's education; or to build assets, ICICI Prudential has a range of
solutions that can be customized to meet your needs.

 Life Insurance
 Retirement Solutions
 Health Solutions

NRI Premium Payment Options

62
Using our premium payment options, you can make your premium payments online in a simple, hassle-free
manner.

Choose the mode of payment mode that suits you from the following options.

Credit Card

You can use the convenience of a International Credit Card (Mastercard or Visa) to make your premium
payments.

All you have to do is to submit this form along with a clear photocopy of the front side of your Credit Card.

You can submit the form at any of our branch offices, mail it to our communication address or hand it over to
your advisor.

Premium Payment Through Website

Online Premium payment enables you to make renewal premium payments and revive your policies through
ourwebsite.

To avail this facility, you have to log into your customer account and choose 'Pay Online' option. Payment
options for premium payment are credit card (Master/Visa) and Net Banking.

Banks for which Net Banking facility is available are: Bank of India, Centurion bank of Punjab (erstwhile Bank
of Punjab), HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, Punjab National Bank, Union Bank of India,
UTI Bank.

Cheque / Demand Draft

If you choose to pay your premiums through cheques, please draw your cheque in favour of "ICICIPrulife,
Policy Number xxxxxxxx". Do mention your name and contact number on the reverse of the cheque.

Incase you choose to make your premium payments through demand drafts, please draw your demand draft
in favour of "ICICI Prudential payable Mumbai''. Please do mention your name, policy nos & contact nos
on the reverse of the demand draft.

Please note, we only accept cheques and demand drafts which are in Indian rupee denominations.

The premium cheques can either be submitted at our Bahrain Representative office or can be given to our
sales personnel.

Electronic Clearing System (ECS)

ECS is an automated facility which debits your premium from the bank account specified by you, on your
premium due date. In case of the premium due date falling on a holiday, the premium amount would be
deducted on the next working day. Premium payment for ECS locations under the Non-rolling settlement
category may not be deducted on the Premium Due Date. This is applicable for all active (in force) policies.

63
To avail this facility, you have to submit the ECS form along with a cancelled cheque (which helps us record
the MICR code of your bank- see image). Once you submit this form, we can activate the ECS facility for your
policy number.

Please note that the ECS facility can be availed only through NRE accounts & premium will be debited in Indian
currency.

Bill Junction

You can authorize your premium payments online through Bill Junction.

Register yourself at Bill Junction and follow the instructions on their web-sites.

Direct Remittance

You can now make your payments by directly remitting money from your ICICI Bank NRE account into our
ICICI Prudential a/c.

NRI - Terms & Conditions

These terms shall be in addition to, and not in derogation of, the base Terms and Conditions
specified on the Website.

1. ICICI Prudential Life Insurance can only issue policies to NRIs residing in select countries.

2. This section of the Website provides templates of the forms that you would need to complete,
and on the basis of which we shall determine whether to extend insurance cover to you, in respect
of the various Life insurance products we offer (hereinafter "the Proposal Form(s)").

3. The Proposal Form(s) may be downloaded onto your computer system, or otherwise saved, in
order to obtain a physical copy of the relevant Proposal Form(s). The Proposal Form(s) are
provided herein for convenience only, and you may contact the Company or its advisors for being
advised as to the scope of cover available and the policy terms, conditions
and exclusions. Each of the Proposal Form(s) must necessarily be completed manually, in
accordance with the instructions specified therein and submitted to us by mailing at the following
address: Branch Manager - Customer Service & Operations ICICI Prudential Life Insurance ICICI
Pru Life Towers 1089, Appasaheb Marathe Marg Prabhadevi Mumbai 400 025 India

4. If more than one Proposal Form is submitted on same life in respect of the a Life insurance
product, we shall exercise our discretion in determining on the basis of which Proposal Form
insurance cover is to be extended, if any.

64
5. Please do not complete any Proposal Form(s) without familiarizing yourself with and
understanding the scope of cover available and the policy terms, conditions, exclusions. If you
require any clarifications or assistance in completing the relevant Proposal Form(s), kindly contact
us at nri@iciciprulife.com

6. The submission of the relevant Proposal Form(s) and subsequent receipt by us does not
constitute an acceptance by us of the risk described therein.

7. We reserve the right of not accepting or processing any Proposal Form(s) submitted to us
different than the form which appears herein. The Company reserves the right to alter or decline
the proposal of insurance based on its internal rules and norms.

8. All Proposal Form(s) appearing in this section are the subject matter of intellectual property
protection as applicable and available, and we reserve all such rights. We are the sole owners of all
intellectual property rights subsisting in the Proposal Form(s), and the same may not be used for
any purpose or in a manner other than as described herein.

9. The acceptance of risk will be subject to the Underwriting decision of the Company. Under
exceptional cases, based on underwriting requirements, we may make some alterations in the
premium amount communicated to you.

10. In addition to the Proposal form the Company reserves the right to ask for further information.

NOMINATION
CLAIM
POLICY SERVICING
SURRENDER/PARTIAL WITHDRAWAL/ASSIGNMENT

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 BIBLIOGRAPHY

BOOKS :

Kotler Philip : Marketing in New Millennium, Millennium Edition Prentince Hall of India
,New Delhi.
C.R. Kothari : Research Methodology; Wishva Publications, New Delhi.

MAGZINES :

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 Bussiness World
Invest one
Business Today
Investtime by Birla Sun Life Distribution
Offers Documents of Different Schemes.

NEWS PAPERS :

Economic Times
Business Standered

WEB-SITES :

www.iciciprulife.com
www.google.com
www.yahoo.com

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