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ICICI Prudential’s ultimate promise is financial security. A strong brand certainly boosts sale,
but without customer-friendly, innovative products, even the best brand would not last long.

ICICI Prudential’s product range has been developed on the understanding that different people
have their own sets of needs at various stages of their lives. It has thus built a flexible portfolio of
products that can be customized to cater to varying needs of people at each stage, and thus ensure
protection in every step of life. The company’s philosophy has been to help customers
understand their financial needs and work closely with them to customize a product that would
meet. Advisors can offer a complete range of products –Savings plans, Child plans, Market-
linked plans, Protection plans, and Retirement plans – and tailor a flexible solution to meet
customers’ changing needs at every stage of life. In fact, ICICI Prudential was the first to un-
bundle product benefits, pioneering the concept of ‘riders’ and soon after introduce
comprehensive market-linked and retirement plans.

ICICI Prudential has launched a handful of products that are analyzed below:

ICICI Prudential's life insurance products may be loosely categorized under three forms: pure
life insurance products without an investment angle to them; a product that is a mix of a
cumulative investment scheme and an insurance product; and, finally, standard products such as
money-back and endowment policies.

Single Premium Bond: The Single Premium Bond is the name of a policy that combines the
features of an investment in a cumulative deposit scheme with that of an insurance product.

Policy-holders are required to pay a one-time premium based on a target sum assured. At
maturity, the policy-holder gets the sum assured and guaranteed additions that work out to a
compound return of 4.5 per cent the sum assured.

The insurance part of the package comes in the form of death benefits that are paid in the case of
the demise of the policy-holder. The size of the death benefit is linked to the number of years left
for the policy to expire. On maturity date, the maturity value is also paid in addition to the death
benefits that would have been paid earlier.
Life Guard policies: The company offers two pure life insurance products that have an umbrella
name, Life Guard. One of them involves a one-time premium for which there are no maturity
benefits. The other requires regular premium payments that are returned at the end of the policy.
Life Guard offers absolutely no investment-related return and is suitable for individuals looking
for an unadulterated insurance package.

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 5 riders, to
create a customized solution for each policyholder.

Savings Solutions

 Secure Plus is a transparent and feature-packed savings plan that offers 3 levels of

 Cash Plus 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.

 LifeTime and LifeTime II 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 is a limited premium paying plan that offers customers life insurance cover
till age of 75.

 InvestShield Life is a Unit Linked plan that provides capital guarantee on the invested
premiums and declared bonus interest.
 InvestShield Cash is a Unit Linked plan that provides capital guarantee on the invested
premiums and declares bonus interest along with flexible liquidity options.

 InvestShield Gold is a Unit Linked plan that provides capital guarantee on the invested
premiums and declares bonus interest along with limited premium payment terms.

Protection Solutions

 LifeGuard is a protection plan, which offers life cover at very low cost. It is available in
3 options –level term assurance with return of premium and 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

 SmartKid education plans provide guaranteed educational benefits to a child along with life
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 retirement product targeted at individuals in their thirties.

 SecurePlus Pension is a flexible pension plan that allows one to select between 3 levels of cover.
 Market-linked retirement products
 LifeTime Pension II is a regular premium market-linked pension plan.
 LifeLink Pension II is single premium market linked pension plan.
 InvestShield Pension is a regular premium pension plan with a capital guarantee on the
investible premium and declared bonuses
 Golden Years: is a limited premium paying retirement solution that offers tax benefits up to Rs
100,000 u/s 80C, with flexibility in both the accumulation and payout stages.

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 policy holder 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.
Group Insurance Solutions

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

ICICI Pru 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.

ICICI Pru Group Superannuation Plan: ICICI Pru offers a flexible defined contribution
superannuation scheme to provide a retirement kitty for each member of the group. Employees
have the option of choosing from various annuity options or opting for a partial commutation of the
annuity at the time of retirement.

ICICI Pru 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 policy is paid to the beneficiary nominated by the member on his/her

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 and 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. Accident Benefit: This rider option pays the sum assured under the rider on death due to
3. 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
4. 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 in SmartKid, SecurePlus,
and CashPlus.
5. Waiver of Premium: In case of total and permanent disability due to an accident, the
premiums are waived till maturity. This rider is available with SecurePlus and CashPlus.