Aniket R Gupta BASICS OF INSURANCE The Business of Insurance The business of insurance is related to the protection of the economic

value of the assets. An asset is normally created through the efforts of the owner, in the expectation that, some of his needs would be met. All assets have an expected lifetime during which they perform. However if the asset gets destroyed/made non-functional earlier, the owner and those deriving the benefits may suffer. Insurance is a mechanism that helps to reduce such adverse consequences. The basic mechanism of insurance works with the principle that, people exposed to the same risks come together and pool funds to protect each individual against risk. Therefore, risk is spread out. The insurance companies collect money in advance and create a fund from which losses are paid. People facing common insurance interest (risks) make contributions (premium) to a common fund. While it may not be possible to tell beforehand, which person will suffer, it is possible to tell, on the basis of past experiences, how many persons, on an average may suffer losses. Then incase, any individual who is a part of the pool suffers a loss, he is compensated from the common fund. The fundamental principle underlying insurance is that it has to be popular and fair. Insurer is in position of a trustee and checks that nobody gets undue advantage. Therefore, care is taken to ensure that those in the group have similar risk and if not, they pay more contribution because their risk is greater (underwriting process). On payment, the risk is assessed on the basis that it was accidental (claim settlement procedure). Reinsurance In situations where the asset being insured is very expensive, a very large amount of insurance needs to be carried out. It might so happen that a single insurer might not be able to bear the consequence of this loss. Therefore in the insurance business there are reinsurers, who share the risk with the insurer. Insurance vs. Assurance While we are on this subject, let us discuss insurance and assurance, the two terms, which are used interchangeably and also understood wrongly at times Insurance is used with reference to financial protection against a possibility, such as fire, accidental damage, theft, or medical expenses: motor insurance, household insurance, travel insurance, health insurance. Events that must occur at some time, such as death, are provided for by assurance

Aniket R Gupta Probability Theory Probability is a measure of the relative likelihood of an event occurring. In between 1 and 0 are events that are more or less probable. Probability attempts to quantify the variability of many real-life situations. Law of Large Numbers The mathematical law states that the larger the number of times that several possible outcomes occur (the number being greater than 50), the greater the likelihood that the frequency of occurrence of each particular outcome will coincide with the average frequency that can be established by theoretical calculation. Amount of money needed to reconstruct 5 houses = Rs.1000 X 5 = Rs.5000 Total number of houses in the village = 200 Since the number of houses is greater than 50, the theory of large numbers will apply. The amount that every family has to bear = 5000 / 200 = Rs.25 Therefore, you can run an insurance scheme with Rs.25 as premium. Risk Management Insurance helps in managing the risk and uncertainty which affects all areas of life and in order to gauge the potential impact of a risk or peril, risk management has emerged as an integral discipline with insurance. Risk management involves: Identifying risk Ascertaining the impact of the risk Controlling it so as to minimize the impact The management of the business requires care to prevent entry into the group of people whose risks are not of the same kind as well as paying claims on losses that are not accidental. As we had seen earlier, Insurance works on the principle of transferring risk from an individual to a group. Since the probability of every one suffering the loss is remote, risk gets shared by the

Aniket R Gupta group. Risk transfer means that an individual or an organisation transfers the risk to someone else. Insurance is a risk transfer mechanism. The insurance company agrees to meet any losses (as per the policy) for a certain amount of premium. Role of Insurance in Economic Development 1948 United Nations declaration says "everyone has right to a standard of living adequate for health and well being of family ". The death of a person during productive years is a great loss for the family and for the society/nation as well. Life assurance reduces this cost and is complimentary to states' efforts at social management. Under the Directive Principles of State Policy, Article 41 says. "The state shall, within the limits of its economic capacity and development, make effective provision for securing the right to work, to education, to public assistance in cases of unemployment, old age, sickness and disablement, and in other cases of undeserved want. In India, social security is in Article 41 of the constitution. Part of the states obligations are met through mechanism of life insurance. LIC of India created a social security fund called LALGI to extend benefits to economically weaker sections of the community. When the bread-winner of the family dies, to that extent, the family's income dies. The economic condition of the family is affected, unless other arrangements come into being to restore the situation. Life insurance provides such an alternate arrangement thus complementing the states efforts in social management. Insurance benefits society by way of : Providing relief to the insured from any mishap. Reducing burden of the government in providing relief to old citizens. Placing large sums of money at the disposal of the government for development of the economy

Aniket R Gupta Concept of Life Insurance We had learnt in the earlier module, the concept of risk. Risk applies to assets and life. Therefore, insurance also applies to human life and assets. In business parlance, there are two different branches of insurance, which are Life Insurance insures the life of a person Non-Life Insurance insures everything else Human life is an income-generating asset. This asset can be lost through unexpected death or made non-functional through sickness or disability caused by an accident. There is no certainty that an accident will happen. On the other hand there is a certainty that death will happen, but its timing is uncertain. Insurance reduces impact of risk on the owner and those who depend on the asset. It must however be noted that, only economic or financial losses can be compensated. For example, the emotional support that the breadwinner provides cannot be evaluated nor compensated. However, the financial support can be evaluated and compensated. A branch of insurance in which compensation is made available to designated survivors of a deceased person, or to a person on their own survival after a fixed term of years, in return for payments, or premiums. Life assurance is based on: The mathematics of probability Compound interest The two together ensure an adequate fund to provide the compensation required. Let us look at a scenario. Mr. Sathe wants to take a policy of Rs.3 Lakhs. He does not seem to be financially well off, to pay the resulting premiums. How much of policy cover will be granted to Mr. Sathe? We had seen earlier, Life insurance protects against loss of income of an individual. However, to answer this question we need to understand the concept of Indemnity in Insurance and more so in the case of Life Insurance. Concept of Indemnity

Aniket R Gupta Any insurance is designed to compensate a policyholder for a loss suffered, by the payment of money, repair, replacement, or reinstatement. In every case the policyholder is entitled to be put back in the same financial position as he or she was immediately before the event insured against occurred. There must neither be an element of profit for the policyholder nor any element of loss. Most - but not all - insurance policies are indemnity contracts. For example, personal accident and life-assurance policies are not contracts of indemnity, as it is impossible to calculate the value of a lost life or limb (as the value of a car or other property can be calculated). Life Insurance has a clause of indemnity in it because the value to which the insurance can be carried out depends on the paying capacity of the person who is entering into the policy contract. The Insurance policy is considered a contract under the Indian Contract Act, 1872 as it meets the essential criteria for a valid contact. A contract may be defined as agreement between two or three parties to do or to abstain from doing an act, and which is intended to create a legally binding relationship An agreement designed to have legal consequences There are certain essentials in any valid contract. A Valid Contract should have Intention to create legal relations - The intention of the parties entering into the contract has to be legal in nature In case of Life Insurance Policy it implies: The intention of the parties entering into the contract has to be legal in nature The intention is to assure families and therefore it is legal in nature Offer and acceptance - There has to be an offer There has to be an offer by one party and an by one party and an acceptance by the other acceptance by the other party party The proposer offers and the insurer (underwriter on behalf of the insurer) accepts. Therefore there is an offer and an acceptance Consideration - There has to be a consideration involved in the contract There has to be a consideration involved in the

Aniket R Gupta contract Premium needs to be paid regularly to keep the contract in force. This premium is the consideration Capacity to contract - The parties entering into the contract should be having the capacity to contract The parties entering into the contract should be having the capacity to contract The insured has to be a major and with a sound mind. The agent has to be a licensed agent who will then work on behalf of the principal Certainty of terms - The terms of the contract should be clear and definite The terms of the contract should be clear and definite The sum assured, premium payments, age and other terms are very clear and definite Consensus ad idem - The agreement by contracting parties to identical terms that is necessary for the formation of a legally binding contract The agreement by contracting parties to identical terms that is necessary for the formation of a legally binding contract Both the parties, insured and insurer, are in agreement to the terms of the policy Legality of purpose - The purpose of the contract has to be legal in nature The purpose of the contract has to be legal in nature The purpose of the contract is legal in nature Possibility of performance - The contract The contract should be such that it can be carried should be such that it can be carried out. out. Both the parties involved have the possibility to perform because the insurer can pay the claims and the insured has the capacity to pay the premiums Policy Contract To summarize, a policy contract should have: A legal intent from both the insured and the insurer and the contract so signed should have legal standing The insured and the representative of the insurer should both posses capacity to contract, i.e., they should be major, with sound mind.

Aniket R Gupta There should be an offer from the insurer and an acceptance from the insured Premium has to be paid as consideration towards the insurance The sum assured, premium payments, age and other terms should be very clear and definite Both the parties, insured and insurer, should be in complete agreement to the terms of the policy Both the parties involved should have the possibility to perform i.e., the insurer can pay the claims and the insured has the capacity to pay the premiums To illustrate further, take the example of Mr. Sawant. He wants to insure his 15-year-old son and step-son, who are students, for Rs.3 Lakhs each. Can Mr. Sawant carry out the insurance contract? Under the guid elines of the Indian Contract Act, 1872, Mr. Sawant can insure both his son and step son if: Mr. Sawant is assumed to be in the capacity to pay Mr. Sawant has legal relations Mr. Sawant fundamentally adheres to the conditions of Indian Contract Act, 1872 But it is possible that Mr. Sawant and his son might want to harm the step-son and then benefit monetarily from the insurance proceeds. On the other hand, Mr. Sawant might have recently found out that his son is terminally ill with a dreaded disease. He wants to take the Life Insurance contract, so that after sometime when he declares his son's disease to the Insurer, he can get some money with which he can carry out the treatment of his son. In both the above situations, it is the group of people who are pooling for insurance cover, who stand to lose. In order to protect the interests of the group who have appointed the insurers as the trustee, insurance contracts are treated as special contracts. Other than the essentials mentioned above of a valid contract, insurance contracts are subject to additional principles. They are: Principle of Insurable Interest Principle of Utmost Good Faith

Aniket R Gupta We will discover more about these principles in the subsequent sections. The requirement of insurable interest dates back to the 18th century in England. At that time, in order to carry out an insurance contract the person insured need not be informed about it. Therefore there were third parties insuring a person for a certain sum without the insured knowing of it. This arrangement was abused and subject to malicious intentions. As a result one could insure a third party and get the insured killed and benefit monetarily from the proceeds. The nature of this wagering shocked the nation and in 1774, the English parliament took action to end this type of gaming. It enacted a statue which made null and void all insurance policies 'wherein the person or persons for whose use, benefit, or on whose account such policy or policies shall be made, shall have no interest, or by way of gaming or wagering.' Principle of Insurable Interest Thus, the objective of insurable interest is to prevent others from wagering or gaming on the lives of others. Insurable interest is said to exist when the person insuring stands to lose if the event insured-against occurs. Insurable Interest exists if the policy owner or the nominee is likely to benefit financially if the insurer continues to live and is likely to suffer from an economic loss if the insured dies. Insurable interest is said to exist in the following cases: Self Relationships by blood Relationships by marriage Business Relationships Further, Insurable interest can be created through: Common law Contract Statute It is known that the status of a person changes over time. For example, an earning parent

Aniket R Gupta might become a dependent parent over a period of time. Insurable Interest must be met as a condition for the formation of the contract. If, there is no insurable interest during the time of application, then the policy will not be carried out. However, continued insurable interest is not required for the life insurance policy to remain in force.

Aniket R Gupta Policy Contract We had seen earlier, besides conforming to the provisions of contract act, any insurance contract is subject to additional principles. They are: Principle of Insurable Interest Principle of Utmost Good Faith Principle of Utmost Good Faith It is the duty of the insurer who is in the position of the trustee, to see that the complete group which has pooled their risks, benefit from it. It should not happen that one person derives more benefit from the others. However, the facts relating to personal history, family history, habits, health etc. are known by the proposer, e.g., if the person has a smoking or drinking habit which increase the risk to his/her life. The insurer can come to know of these facts only if the proposer discloses them. These facts are very important to the insurer as their non-disclosure may lead to insurer taking an adverse risk at a low premium. It also effects the other policyholders, as substandard lives may be given the same schemes as standard lives. The duty of complete disclosure is that of both the parties and both insurer and proposer must disclose all material facts to each other. This is the essence of another principle of insurance called the Principle of Utmost Good Faith or Uberrima Fidei. Definition of Utmost good faith or Uberrima Fidei Is the duty to disclose all material facts relating to the risk to be covered A Positive duty to disclose, accurately and fully, all facts material to the risk being proposed, whether requested or not A contract of insurance is a contract uberrimae fidei: It is not just a matter of ordinary commercial good faith but one of the utmost good faith. The principle works both ways. Integral with the Contract Uberrimae Fidei is the concept of Material Fact .

Aniket R Gupta The Facts which have to be disclosed Which show that the particular risk represents greater exposure than expected from its nature or its class, e.g. smoking/drinking habit increases the risk for ailments like heart disease or cancer and therefore is a material fact that should be disclosed External factors which enhance risk, e.g. high risk job, like airforce pilot Previous losses and claims, e.g., any history of earlier claims towards a treatment or ailment Any special terms imposed on previous proposals Full facts relating to subject matter of insurance

The Facts which may not be disclosed (some facts that are obvious or do not impact the insurance contract) Facts of law, e.g., a father having an insurable interest in his son Facts of common knowledge, e.g., smoking would increase risk Facts which lessen the risks, e.g., following of a highly disciplined health doctrine. Facts which could easily be discovered, e.g., interest rates on bank deposits Facts which a survey should have revealed, e.g., mortality rate prevailing Breach of Duty of Utmost Good Faith Non-disclosure .Misrepresentation Life Insurance Proposal Details about the health, age, occupation, term, paying potential, etc are captured in three forms, which are: Proposal form Personal Statement regarding Health Agents confidential report/ Moral Hazard Report Proposal Form The proposal form is the form in which the application for insurance is made. It is

Aniket R Gupta printed by the insurer and filled in by the proposer. There is a separate proposal form for the risk covering own life and the risk covering the life of another person. The proposer is required to give statutory details about himself like name, date of birth, address, medical history, occupation, insurance amount, mode of insurance, nominee. Personal Statement regarding Health The proposal form is normally given to the insurer along with the personal statement of health and report of the agent. Agents Report Provides information on the financial position of the proposer to the insurer Cross checks on the information provided by the proposer to the agent Proposal and its contents is the basis of the insurance contract Underwriting & Premium Underwriting is the process of classifying applicants for insurance by identifying characteristics such as age, gender, health, occupation, and lifestyle or hobbies People with similar characteristics are grouped together and are charged a premium based on the group's level of risk. It is the role of the agent to gather all information, which might influence the insurance amount and provide them to the underwriting department. Underwriting is carried mortality and morbidity tables. out on the basis of the

Some typical instances, which might influence the amount of premium, are: Medical History of heart attacks in the family Prevailing disease in the proposer Asthma, Diabetes Occupation

Aniket R Gupta Construction engineer is at a higher risk than a software engineer X-ray machine operators Hobbies Flying aircrafts Horse-riding Financial viability to carry out premium payments

The foremost important thing that an agent must be aware of is the maximum amount of insurance cover that can be provided to a prospect. Companies have different rules to this effect. For example: Upto age 35 years Age 36 to 50 years Above 50 years 15 times annual income 12 times annual income 10 times annual income

Material Information Agents have to be very careful in gathering all possible material information about the particular prospect before entering into the insurance contract. A material fact is a fact which would influence the mind of a prudent underwriter in deciding whether to accept a risk for insurance and on what terms, e.g. age, previous medical history, occupation, smoking/drinking habits Information which does not affect underwriting is a non-material fact, e.g., status in family, respect that the proposer commands in the community A material fact, if, suppressed at the time of the policy, may make the claim unsustainable later. Based on the underlying principle of Utmost Good Faith, it is the duty of the agent and the proposer to declare all the material facts. One of the essential clauses of a contract is that there has to be a consideration. Premium is the price paid by the insured for purchasing the insurance product, which is the plan and term of assurance chosen by him. For an Insurance policy to come into force and remain in force, premium is the consideration, which needs to be paid on time.

Aniket R Gupta Section 64VB of the Insurance Act lists down the important elements regarding premium payment. Therefore, if a policy holder has not paid the premium and has died - then the insurer is not liable to pay as per the contract Summary Premium is directly related to risk. Risks that a proposer is exposed to can be of different variety, like, Occupational, Lifestyle, Medical. Insurance contract is based on the Principle of Utmost Good Faith. Therefore it is the responsibility of the proposer to declare all the risks that he/she is exposed to. For an Insurance policy to come into force and remain in force, premium is the consideration, which needs to be paid on time. Insurers realise that Life Insurance is a long-term commitment and during that period insured can face circumstances which might lead to a change in the policy status. For example: Insured might be unable to continue paying the premiums due to a change in financial commitments Insured might like to assign the benefits of the policy to someone else other than the person mentioned earlier Insured might like to take a loan against the policy Or any other such adverse situations. In order to facilitate a change in the policy status and continuation of the policy, several mechanisms like revivals, nomination, assignment, surrender, foreclosure and loans are used by the insurers. Revival of Policies A policy should remain in force till the claims happen. Incase of a lapse of a policy, a revival brings it back to life. For a policy to remain in force the premia needs to be paid routinely as per the contract and within the stipulated grace period. Non payment of premium leads to a lapse of the policy (lapsation may occur due to sheer

Aniket R Gupta neglect to pay or due to financial difficulties). Insurers facilitate revival of the lapsed policies. There are several schemes, which are offered to facilitate revival. Two fundamental schemes are: Revival without evidence of good health Revival with evidence of good health Revival without evidence of good health is applicable if: The premium is paid within six months of the due date of first unpaid premium which is also the date of lapse The arrears of premia are paid during the period of last 12 months prior to the date of maturity in case of endowment policies The arrears of premia are paid within 12 months of first unpaid premium, provided the policy has been in force for 5 years or more The policy does not carry any death cover like pure endowment or deferred annuity plans Revival with evidence of good health is applicable if: The revival is effected within a period of 7 months from the date of lapse provided the policy has been issued at ordinary rates A new policy on the same life, similar to the lapsed policy, can be considered under non-medical scheme The policy was of endowment type and the arrears of premium are received in the second year (within 12 to 24 months) prior to maturity date The policy had been in force for at least 10 years or half the total term of the policy whichever is more, and the arrears are paid after 12 months but within 18 months from the date of lapse The arrears of premium are received in the last 12 months prior to the date of maturity in case of anticipated endowment, money back and other similar high risk policies Certain other special schemes which are used are:

Aniket R Gupta Special revival schemes Installment revival scheme Loan-cum-revival scheme Revival of a policy is not advised if the policy is in a lapsed condition for more than five years, as it would be more advantageous for the policy holder to go in for a new policy. Nomination & Assignment Nomination: Nomination is a way to ensure easy payment of policy moneys in case of death claims Nomination can be done during the time of taking out the policy or any time before maturity Earlier, the benefits of the insurance proceeds used to pass on to the nominee. However, in a judgement by the Supreme Court of India, it has been mentioned that a nominee is a representative of the legal heirs. Therefore it is important for the agent to be able to guide the proposer for filling in the proposal form correctly. Assignment: Life Insurance policy is a property and like any other property it can be transferred and assigned to others. A life insurance policy is a property and an assignment transfers the rights, title and interest of the assignor (policy holder) to the assignee Assignment can be absolute or conditional An assignment automatically cancels a nomination Nomination Vs Assignment: The fundamental differences between nomination and assignment are: Nomination Assignment

Nomination can be done before the issue of policy Assignment can be done after the issue of policy

Aniket R Gupta Under nomination, assured retains full control of the policy Nominee can be altered by the life assured Under assignment, assured loses control over the policy Assignee cannot be cancelled by the assignor, the assignee has to re-assign the policy.

Loans, Surrender & Foreclosure Life Insurance contracts are generally for a very long period of time. During the tenure of the insurance policy, it is possible that the policy holder requires some money in order to tide over a financial difficulty. For the convenience of the policy holders, insurers have provided some facilities, like: Loans against policy Surrender of the policy Foreclosure of the policy Loans against policy Loans are generally granted upto: 90% of the surrender value for in force policies and 85% of the surrender value for paid up policies. For grant of loan, the policy holder has to assign the policy in favour of the insurer. Surrender Of Policy Surrender is a voluntary termination of a contract by a policy holder. A life insurance policy can be surrendered anytime before it becomes a claim Foreclosure Foreclosure means closure or writing off the policy before its actual maturity. Foreclosure action is taken when two or more half yearly installments of loan interest are in arrears and a period of ten months has elapsed from the due date of the first unpaid half yearly interest. It is possible to reinstate a foreclosed policy by: Up to date payment of the outstanding loan amount with interest payable

Aniket R Gupta Evidence of good health On foreclosure the nomination ceases to exist

Summary These facilities are provided to the policy holder in order to tide over a financial difficulty Upto 90% surrender value of the policy can be taken as loan after assigning the policy to the insurance company Policy holder can voluntarily surrender the policy before it becomes a claim Foreclosure is enforced by the insurance company if the policy holder has taken loan against the policy and there are both unpaid loan and premium installments

Claims It has been observed that most of the customers come in contact with the insurer only during the claim stage. Therefore, it is very important for an agent to support his customers during the claim stage. An agent must help the customers fill in the claim documents properly and ensure that the complete interaction is very smooth and leaves the insured or his family in good taste. Claims can be of the following types: Maturity claims: survival of the policy holder upto the end of policy term, which is the date of maturity Survival benefits: survival upto a specified period during the term Death claims: death of the life assured during the term Maturity Claims . It is payable as per the terms of the contract at the end of the policy, if the assured lives up to that date. It includes the Sum Assured and any other specified sum, plus vested bonuses. Any debt or charge under policy, like loans, outstanding premia will be deducted. Survival Benefits

Aniket R Gupta It is payable before expiry of the full term of the policy, but on survival of the life assured. For example a Money Back policy. The risk (death cover), however, is for the full sum assured during the entire term. Death Claims If the life assured dies during the term of the policy, then a death claim arises. A death claim distinguishes life insurance from all other types of savings. Death claims are classified into two categories: Early or premature claims (arising within 2 years of commencement, revival or reinstatement of the policy) Non early claims (arising after 2 years of commencement, revival or reinstatement of the policy) Early Death Claims Enquiries are made to confirm that information was not suppressed at the time of proposal Besides the requirements of non-early claims, some more documents are required for validity Efforts are made to ascertain whether a fraud has taken place There may be a penalty for the agent (depends on individual company rules) Claim Concession Policy lapses if the premiums are not paid on time. However, by way of policy privilege the following provisions are made: After at least three full years premiums are paid, the claim will be considered for the full sum assured as if the policy had remained in full force, if the death of the life assured occurred within six months from the date of the first unpaid premium i.e. if date of insurance = 10.1.1998 if last premium paid = 10.1.2001 next premium due was = 10.1.2002 In this situation, the policy will be entitled for full insurance benefits if the insured died within 9.7.2002

Aniket R Gupta After at least full five years premium have been paid, the claim will be considered for the full sum assured as if the policy had remained in full force, if the death of the life assured takes place within twelve months from the due date of the first unpaid premium i.e. if date of insurance = 15.3.1996 if last premium paid = 15.3.2001 next premium due was = 15.3.2002 In this situation, the policy will be entitled for full insurance benefits if the insured died within 14.3.2003 Life Insurance Products ICICI Prudential offers the following category of products: Protection Plans Endowment Annuity Plans Unit Linked Plans

Protection Plans 1. 2. 3. LifeGuard - ROP LifeGuard - WROP LifeGuard - SP

LifeGuard ROP In this variant the premiums that are paid by the policyholder are returned at the end of the term i.e., on maturity to the policyholder. Thus this plan serves to provide life protection and at the end of term the money paid which accumulates to be a substantial amount is received on maturity. Moreover, this plan provides with the facility of FREE Extended Life Cover(ELC) after maturity - which adds to the protection that LifeGuard ROP so provides. Features: Minimum Sum Assured As per minimum premium limits Age at entry 18-55 years Maximum maturity age 65 years Term 10-30 years Sum Assured multiples of Rs. 1000 Premium payment frequencies Yearly, Half Yearly & Monthly

Aniket R Gupta Minimum Premium Premium payment period Surrender Loans Paid- up Sec 10(10) Rs 2400 The entire term of policy The plan can be surrendered after three policy years have been completed No loans are available The policy can acquire a paid up value after a period of three years The tax benefits are subject to tax laws and are not an integral feature of LifeGuard ROP

Benefits Tax Benefit Death Benefit Maturity Benefit Extended Life Cover Return Of Premium Rider Added life protection can be taken by adding: 1. Accident Disability Benefit Rider (ADBR) 2. Waiver of Premium Rider (WOP) Target Segment 1. Large-scale businessmen who have a high level of liability 2. Professionals and salaried people having high human life value 3. Middle income group who want to cover life risk without shelling out high premiums 4. People earning a minimum of Rs 5000 a month can also afford the plan LifeGuard WROP This is the most cost effective policy to have life insurance. This plan provides life protection in the most effective way and it is as inexpensive as your daily newspaper. For a healthy 30-year old male, SA of Rs 1 lakh and premium paid yearly, the premium on LifeGuard WROP would be Rs 0.88 per day for a period of 5 years. Features: Minimum Sum Assured Age at entry Maximum maturity age Term Sum Assured multiples of Premium payment frequencies

As per minimum premium limits 18-55 years 65 years 5-30 years Rs. 1000 Yearly, Half Yearly & Monthly. The monthly mode is only

Aniket R Gupta through ECS (Electronic Clearing Service) Rs 2400 The entire term of policy Term of policy

Min premium Premium payment period Benefit coverage period No surrender value No Loans available Benefits Death Benefit Maturity Benefit

Cost Effective Protection Rider Protection against accidents and diseases Target Segment 1. Key man Insurance 2. Businessmen & Individuals that have liabilities 3. People who are looking for pure protection LifeGuard SP LifeGuard Single Premium is another term product that offers pure protection at the lowest possible cost. This plan absolves the policyholder from the commitment of paying regular premiums and ensures that the protection continues without any hindrance. The concept of this variant is as same as the rest. The Product at a glance will help you in understanding the plan. Features: Minimum Sum Assured Maximum Sum Assured Age at entry Maximum maturity age Term Sum Assured multiples of Premium payment frequencies Benefit coverage period Death benefits during the term of the policy Maturity benefits Surrender / Paid-up Policy loans Riders allowed

Rs. 2,50,000 Rs 10,00,000 18-55 years 65 years 3-15 years Rs. 1000 Premium payment frequencies Term of policy The entire sum assured Nothing is payable after the maturity No surrender value No loans No riders

Aniket R Gupta Benefits Cost effective protection: Allows to take high amount of cover Single Premium: No commitments or problems of lapsation - cover never compromised Target market 1. People who do not prefer long term commitments 2. People going in for liabilities like housing loan or any other sort of liability 3. Young professionals that have an earning but are not too sure about it in the future 4. Students who are going to study abroad 5. People who are going on short term or middle term assignments abroad Endowment 1. 2. 3. Save'n'Protect Cashbak SmartKid

Save'n'Protect All through one's life, one has certain responsibilities; one's children's education, higher schooling, marriage expenses and many more such expenses. As a responsible individual it's undoubtedly one's foremost concern to ensure that his family's happiness is ensured for the times to come and secured from any eventuality that might come up. For this one needs a plan that offers him both, savings and protection. ICICI Prudential Life Insurance Company Limited, India's No.1 private life insurance company, offers our customers Save'n'Protect - an ideal plan for those who want to accumulate funds on a regular basis while enjoying insurance protection. Feature It is a fixed term plicy that combines savings with life cover In this plan, the policyholder pays premium regularly during the term On death of the life assured up to age 7 years, the basic premium paid will be returned without interest. On the death of the life assured after age 7 years, the beneficiary will get the sum assured, the guaranteed additions @ 3.5% compounded annually for the first 4 years and the vested bonuses Once the policy matures, i.e. at the end of the term, the policyholder can get the full sum assured and guaranteed additions @ 3.5% compounded annually for the first 4 years as well as the vested bonuses Loan could be availed Surrender facility is available after three years of the policy

Aniket R Gupta Benefits Extended Life Cover Riders Critical Illness Rider Accident and Disability Benefit Accident Benefit Rider Eligibility to apply A person can apply if he is no older than 60 years. The maximum cover ceasing age is 70 years. The minimum sum assured he should apply for is Rs. 50,000 and the minimum term is 10 years. The minimum premium under this plan is Rs. 6000. Cashback In one's life, one always looks forward to certain milestones. It may be the birth of a child in his family, the education of his children or purchasing a new home. These milestones have financial liabilities attached to them. What a person requires is an insurance plan that not only provides his family with adequate cover against any unfortunate event happening with his life, but also provides him with liquidity to take care of financial requirements at these milestones. ICICI Prudential Life Insurance Company Limited, India's No.1 private life insurance company, offers our customers CashBak - a single plan that combines Protection, Savings and Liquidity. Feature CashBak is a fixed term policy of 15 or 20 years, in which premiums are paid throughout the term of the policy Survival benefit payments at regular intervals are paid to provide the policyholder with liquidity At end of year 3 6 9 12 15 (Maturity) Survival Payment as a % of basic sum assured 10% 15% 20% 25% 50%, guaranteed additions, plus vested bonuses

Benefits Accident and Disability Benefit Riders Accident Benefit Rider Critical Illness Rider Major Surgical Rider

Aniket R Gupta Eligibility to apply A person can apply if he is 16 years old and no older than 55 years. The minimum sum assured is Rs. 75,000. He has the option of paying yearly, half-yearly, quarterly or monthly premium. Term : 15 years and 20 years SmartKid As a responsible parent, one will always strive to ensure a hassle-free, successful life for one's child. However, life is full of uncertainties and even the best-laid plans can go wrong. Here's how parents can give their child a 100% safe and assured tomorrow, whatever the uncertainties. SmartKid is especially designed to provide flexibility and safeguard a child's future education and lifestyle, taking all possibilities into account. Feature: Age at entry for parent 20 years to 60 years Age at entry (child) 0-12 years Maturity age 22-25 years Term (calculated as) Maturity age - age at entry Min term 10 years Max term 25years Min Sum Assured Rs. 1,00,000 (1 Lakh) Max Sum Assured Rs. 30,00,000 (Thirty Lakh) Min Premium Rs. 8400 p.a. Premiums Regular premium plan with yearly, half yearly, quarterly & monthly modes of payment Surrender The plan can be surrendered after three policy years have been completed Loans The company in Smart Kid provides no loans, as regular payouts are available to the policyholder Paid-up The policy can acquire a paid up value after a period of three years Sec 10(10D) The tax benefits are subject to tax laws and are not an integral feature of Smart Kid Benefits Death Benefit Survival Benefits Maturity Benefits Tax Benefits Payout structure There are two different payout structures under SmartKid. The policyholder can choose any of the payout structures as per the need and the requirement. Payout Structure 1

Aniket R Gupta Time of Payout Payout as a % of SA T-7(What are 20 these T7,T4) T-5 25 T-2 25 End of Term 30%+GA+VB Educational Milestone Secondary Higher Secondary Graduation Post Graduation Needs met Extra tuition - Preparation for high school Admission fees for college, tuition fees Higher studies Going abroad for higher studies / marriage / career-establishment

GA: Guaranteed Addition VB: Vested Bonus (for glossary) Payout Structure 2 Time of Payout T-4 T-3 T-2 T-1 End of Term

Payout as a % of SA 25 20 20 20 20%+GA+VB

Riders You can attach riders with this plan, which help in providing extra protection. 1. Income Benefit Rider 2. Accident and Disability Benefit Rider 3. Accident Benefit Rider 4. It provides a regular income in the event of death 5. Premium is wavived from the time of death and maturity benefits continue Target market Young couples with newborn baby or children below 12 years of age Income group of minimum Rs 10,000 per month Ideal age group: 30 - 45 years Professionals, service holders and businessmen Annuity Plans Life Expectancy has been rising rapidly and today one can expect to live longer than our earlier generations. This increase will mean a longer retirement life for you, stretching into a couple of decades. ICICI Prudential presents Retirement Solutions that combine the best of insurance and investment. These solutions are developed to ensure our customers' peace of mind for the years to come. There are 4 retirement plans to choose from:

Aniket R Gupta 3.1. InvestShield Pension 3.2. LifeTime Pension II 3.3. LifeLink Pension II 3.4. ForeverLife InvestShield Pension The road to one's financial goals may have many twists and roadblocks. So, it is critical to plan adequately and wisely for the retirement years. Therefore, one needs a plan that ensures safety, risk cover, income security and regular returns for one's post-retirement years. At ICICI Prudential, we constantly strive to understand our customers' needs and provide them with solutions that can help them plan their future better. That's why, we now present InvestShield Pension, a Unit-linked Retirement Plan with Capital Guarantee and flexible options. Features: The customer can choose between two options of Sum Assured as per his needs: a) He can opt for a Sum Assured, which will be equal to his annual contribution multiplied by the term years b) Alternatively, he can choose a Zero Sum Assured Plan A part of the premium paid is adjusted towards mortality charges, allocation charges and fixed charges, and the rest is invested in his Unit Fund Entry into the Plan will be based on the Net Asset Value of his Unit Fund at that time The total value of his policy is based on the number of units allotted to him and the Net Asset Value The Plan not only provides the policyholder with Unit-linked investment returns, but also assures him of a Capital Guarantee The asset allocation under the Unit Fund is given below: Asset Type Debt Equity Minimum: 70% Maximum: 30% % of Unit Fund

The investment objective of the Unit Fund is to provide a balanced investment between longterm capital appreciation and current income, while protecting the capital. The difference between the bonus interest declared on the guaranteed value of the policyholder's Unit Fund and the earned returns on his Unit Fund will never be more than 1% in any year

Asset Type Minimum premium Term Minimum age at entry Maximum age at entry

% of Unit Fund Rs. 10000 p.a / Rs. 5000 per half year / Rs. 834 p.m. 10 - 30 years 18 years 60 years (with Sum Assured plans), 65 years (with Zero Sum Assured plans)

Aniket R Gupta Minimum age of vesting Maximum age at vesting 45 years 75 years

Additional credits for Policyholders: There would be additional credits payable to the policyholder at various points of time during the policy term. These would be payable as a percentage of the initial premium and are added to the value of his Unit Fund on death or maturity. Bonus interest will not be paid on the additional credits Surrender value: The policyholder also has an option of terminating his policy before the end of the term chosen. However, the surrender value of the policy would differ from year to year

Benefits Death Benefit Vesting Benefit Tax benefits Riders We ensure that the policyholder is prepared for any eventuality, with a choice of riders along with the death benefits, to give him total protection - all at a marginal extra cost. a) Accident and Disability Benefit Rider: In case of accidental death, the Sum Assured under the rider is paid. In case of death while travelling by mass transport, (i.e., bus or train), twice the Sum Assured is paid In the event of total and permanent disability due to an accident, which impairs one's capacity to earn, 10% of the Sum Assured is paid every year, for 10 years b) Waiver of Premium Rider This Rider pays the initial contributions to the fund on the policyholder's behalf in case of a total and permanent disability due to an accident. This benefit is provided till the end of the Rider term. The minimum age of entry is 18 years and the maximum age of entry is 55 years. The maximum premium that can be waived under this Rider is Rs. 10, 00,000. This benefit is provided for a maximum term of 30 years, subject to a maximum age of 65 years, for expiry of this cover. Flexibility a) Top-up your investment The policyholder can top-up his investment any time he has surplus funds, provided all the premiums due are paid. The top-ups will not have any effect on the Sum Assured. However, top-ups will not be allowed in the last 3 years of the policy. The minimum amount of top-up is Rs. 2,500. Maximum top-up in a year can be an amount equal to 30 times the annual premium. b) Flexible contribution The policyholder can increase or decrease his annual premium. The maximum decrease on any occasion can be up to 20% of the initial premium chosen at inception of the policy. However, in no circumstances can the premium be reduced below the minimum premium allowed under the Plan at that time, or 80% of the initial chosen premium, whichever is higher. The policyholder has the flexibility to increase his annual contribution without any limits. Any such

Aniket R Gupta increase or decrease in contribution will only be allowed on policy anniversaries, and does not affect the Sum Assured at that time. c) Automatic Premium Payment Under this feature, in case of an inability to pay premiums due to a temporary financial constraint, the Plan continues for a maximum of 1 year, by drawing an amount equal to the applicable premium for that year from the policyholder's Unit Fund. d) Annuity (Pension) Benefits The policyholder has the option to select a guaranteed annuity rate period of either 5 years or 7 years The amount of annuity is fixed for guaranteed annuity rate period and will be recalculated at intervals of every guaranteed period, based on the annuity rates prevailing then For annuities without return of the purchase price, a residual purchase price will be declared at the beginning of the guaranteed period on which the annuity rates prevailing then will apply at the end of the guaranteed period Once the life assured reaching the age of 75 years, the annuity will be fixed for life and not reviewed thereafter At the time of resetting of the annuity, the policyholder can avail of Open Market Option, which would enable him to get his annuity from any other annuity provider, should our rates not be as competitive. However, there will be a charge of 1% of the residual purchase price, should he choose this option e) Annuity Options Available: At the time of investing, the Pension options available to the policyholder are as follows: Life Annuity: Annuity for life Life Annuity with Return of Purchase Price: Life Annuity for the annuitant with the return of purchase price to the beneficiary Life Annuity Guaranteed for 5/10/15 years: Guaranteed Annuity is paid for the chosen term (5/10/15 years), post which, the annuity continues till the annuitant is alive Joint Life, Last Survivor: In this case, the annuity is first paid to the annuitant. After the death of the annuitant, the spouse receives pension, which is an amount that is equal to the annuity paid to the annuitant Joint Life, Last Survivor with Return of Purchase Price: In this case, the annuity is first paid to the annuitant. After the death of the annuitant, the spouse receives pension, which is an amount that is equal to the annuity paid to the annuitant. After the death of the spouse, the purchase price is paid to the beneficiary NAV of Unit Fund Calculation NAV of the policyholder's Unit Fund is calculated daily on a forward pricing basis. Net Asset Value (NAV) = (Market / Fair Value of the Unit Fund's Investments + Current Assets Current Liabilities and Provisions) / Number of Units outstanding in the Unit Fund Premium Allocation The yearly premium allocation schedule would be as follows:

Aniket R Gupta % Allocation of Premium 2nd Year 3rd-10th year 11th year onwards 90% 98% 100% 92% 98% 100%

Premium in Rupees < 50,000 >=50,000

1st Year 73% 77%

Charges Fixed charges: A fixed charge of Rs. 40 per month will be levied by cancellation of units Fund-related charge: The annual fund-related charge levied on the Unit Fund would be 1.25%. This charge will be adjusted from the Net Asset Values, which would be declared on all working days Mortality charges: Mortality charges will be deducted on a monthly basis on the Sum Assured Top-up charges: Top-up charges will be 1% of the top-ups LifeTime Pension II & LifeLink Pension II Let us learn about Life Time Pension II and Life Link Pension II by comparing both of them. Features LifeTime Pension II A regular premium plan LifeLink Pension II A single premium, Linked Deferred Plan gives the customer the freedom to choose the amount of premium, and invest in market-linked funds, to generate potentially higher returns On the retirement date, the accumulated value of the units will be used to purchase an annuity - to provide the policyholder with regular income for life In case of death before retirement, higher of the In case of death before retirement, the death Sum Assured or the value of units will be the benefit will be the value of the units at the time of death benefit death LifeTime Pension II provides two options of Sum In case of LifeLink Pension II, Sum Assured in Assured at inception this product is zero Option 1: The policyholder can opt for a zero Sum Assured and hence make it a pure accumulation product Option 2: The policyholder can opt for a Sum Assured, which will be equal to the product of his annual contribution and term. However, no change in the Sum Assured will be allowed, once chosen, at the time of inception of the policy Choice of Retirement Date The customer can choose a vesting date once he is 45 years of age. However, he has the option of postponing this vesting date till the age of 75 years (take advantage of market movements). During the postponement of the vesting age, he will be allowed to make top-up premiums. The postponement should however be intimated 6 months before the original vesting date.

Aniket R Gupta Top-up The customer can use his surplus funds to top-up his investment during the deferment period. The minimum top-up amount is Rs. 5,000. Investment Option: The customer has a range of flexible options to choose from, on how he wants his investments to grow. Pension Maximiser II (Growth) Pension Protector II (Income) Pension Balancer II (Balanced) Pension Preserver (Short-term money market plan) . Asset Allocation Fund Asset Mix Potential Risk-Reward Pension Maximiser II Equity & Related securities: Max. 100% High Debt, Money market & Cash: Max. 25% Pension Balancer II Debt, Money market & Cash: Min. 60% Average Equity & Related securities: Max. 40% Pension Protector II Debt instruments: Max .100% Moderate Money & Cash: Max. 25% Pension Preserver Debt instruments: Max. 50% Low Money & Cash: Min. 50% Flexible Annual Contributions The policyholder can increase or decrease his annual contribution. The maximum decrease on any occasion can be up to 20% of the initial premium chosen at the time of inception of the policy. However, under no circumstances can the premium be reduced to below the minimum premium allowed under the plan at that time or 80% of the initial chosen premium, whichever is higher. He has the flexibility to increase his annual contribution without any limits. Any such increase or decrease in contribution will only be allowed on policy anniversaries. LifeTime Pension II The customer should be between 18 and 65 years of age in case he has chosen a zero death benefit option. The minimum annual premium is Rs.10,000; half-yearly premium is Rs.5,000; and monthly premium is Rs.834 Minimum term is 10 years Min Vesting Age : 45 years Max Vesting Age : 75 years LifeLink Pension II The customer should be between 18 and 72 years of age

Aniket R Gupta Minimum premium in this plan is Rs. 50,000 Minimum term of the product is 3 years Min Vesting Age : 45 years Max Vesting Age : 75 years Exit Option LifeTime Pension II: This plan will allow surrender after 1 year's premium is paid LifeLink Pension II: Surrender of the policy is possible any time after the payment of the single premium. Charges Premium Allocation Charges: LifeTime Pension II: The allocation of the contribution will depend on the annual contributions made LifeLink Pension II: The allocation of the contribution would depend on the first contribution made Other Charges Top-up charges: Top-up charges will be 1% of the top-up value. After 10years, the Top-up allocation is 100% (for LifeTime Pension II only) Switch charges: Except for the 4 free switches allowed every policy year, all other switches will be charged at Rs.100 per switch Administrative charges: A fixed charge of Rs.20 per month will be levied by cancellation of units Fund-related charge: There are different investment charges for different fund type Mortality Charges: Mortality charges will be deducted on a monthly basis on the calculated value of life cover. Life cover is the difference between the Sum Assured at that time and the value of investments. These are renewable charges depending upon the age of the policyholder, at the time of deduction of mortality charges It is a plan, which provides regular income for life. It is a regular premium deferred pension plan. ForeverLife Pension Plan provides life cover during the deferment phase. In the unfortunate event of the policyholder's death, the policyholder's spouse has the option to receive the Sum Assured with guaranteed additions and vested bonuses (if any) as a lump sum or can be used to buy an annuity. Working of Annuity The policyholder's accumulated value would start paying him regular income in the form of an annuity, at a frequency chosen by him. This income can be received monthly, quarterly, halfyearly or annually On vesting, the policyholder has the option to take up to one-third of the units as a lump sum and the balance in the form of an annuity The policyholder has the option of selecting a guaranteed annuity rate period of either 5 or 7 years The amount of annuity is fixed for a guaranteed annuity rate period (5 or 7 years) and will be re-

Aniket R Gupta calculated at intervals of every guaranteed period, based on the then prevailing annuity rates On commencement, and at the end of every guaranteed period, (5 or 7 years) the amount of annuity payable for the next guaranteed period of years and the Residual Purchase Price on survival, will be guaranteed Once the policy holder is 75 years of age, the annuity will be fixed for life and not reviewed thereafter At the time of reset of the annuity, the policyholder has an Open Market Option, which would enable him to get his annuity from any other annuity provider, should our rates not be as competitive. However, there will be a charge of 1% of the residual purchase price, should he choose this option (The residual purchase price will be available for calculation of the annuity rate at the end of the guarantee and annuity period.) Benefits Spouse Benefits: In case of the death of the policyholder the spouse can choose from one of the following options: i) Take the Unit Value of Investments (and the Sum Assured, if any) as a lump sum. ii) Take the Unit Value of Investments (and the Sum Assured, if any) as annuity, with the required amount of commutation of the unit value only. Flexibility Flexibility to choose the retirement date: The policyholder can choose the vesting age between 50 to 70 years. He has the flexibility to postpone the vesting from the originally chosen vesting date up to a maximum of 70 years of age. This option can be exercised once at the time of vesting. During the postponed period, his accumulated amount will earn interest as determined by the company from time to time. There will be no life cover or premiums paid during this period. Flexibility to policyholder to receive his pension in 5 different ways On vesting, the policyholder has the flexibility to choose from five different annuity options: Life Annuity: Annuity for life. Life Annuity with Return of Purchase Price: Life Annuity for the annuitant with the return of the purchase price to the beneficiary. Life Annuity Guaranteed for 5, 10, 15 years: Guaranteed Annuity is paid for the chosen term (5/10/15 years) and after that, the annuity continues as long as the annuitant is alive. Joint Life, Last Survivor with Return of Purchase Price: In this case, the annuity is first paid to the annuitant. After the death of the annuitant, the spouse starts getting a pension, which is an amount that is equal to the annuity paid to the annuitant. After the death of the last survivor, the purchase price is returned to the beneficiary. Joint Life, Last Survivor without Return of Purchase Price: In this case, the annuity is first paid to the annuitant. After the death of the annuitant, the spouse starts getting a pension, which is an amount that is equal to the annuity paid to the annuitant. Flexibility to policyholder to choose his annuity provider.

Aniket R Gupta This option offers the policyholder the flexibility to buy a pension from any other insurer of his choice, at the time of vesting. So, he has the freedom to take the best offer available in the market. Entry conditions The person should be between 20 and 60 years of age Minimum Sum Assured is Rs. 50,000 Minimum term is 5 years and the maximum is 30 years Minimum premium is Rs. 6,000 Minimum Vesting Age (Maturity) : 50 years Maximum Vesting Age (Maturity) : 70 years Exit option ForeverLife Pension Plan acquires a surrender value after premiums for 3 policy years are fully paid. A surrender value is payable if the policyholder wishes to withdraw after 3 years. Riders Critical Illness Rider (Available with Forever Life) In the event of the life assured contracting a critical illness, an additional payment equivalent to the sum assured under the rider would be made. The cover is available up to a maximum of 65 years of age. Claims for critical illnesses are not admitted for the first 6 months of the policy. This benefit is payable on the basis of the life assured surviving 28 days from such diagnosis. Critical Illness Rider (Accelerated) (Available with Secure Plus Pension) In the event of the life assured contracting a critical illness, the Sum Assured under the rider will be payable and the life cover will come to an end. However, the accumulation in the policy value continues and will be paid on maturity or death, whichever is earlier. The cover is available till a maximum 65 years of age. Accident and Disability Benefit Rider (Available with ForeverLife, LifeTime Pension II and SecurePlus Pension) It offers cover against Accident and Disability. In the event of death due to an accident, the nominee gets an additional Sum Assured under the rider. (a) In case of accidental death while travelling by mass surface transport, the nominee will get twice the Sum Assured under this rider. (b) In the event of total and permanent disability due to an accident, which impairs one's capacity to earn, 10% of Sum Assured is paid every year for 10 years. Accident Benefit Rider (Available with SecurePlus Pension) This is a basic variant of the Accident and Disability Benefit Rider, at a lower add-on premium. On death of the life assured due to an accident, the nominee gets an additional sum assured under this rider. Waiver of Premium Rider (Available with SecurePlus Pension and LifeTime Pension II) In case of total and permanent disability due to accident, this rider would waive future premiums till maturity.

Aniket R Gupta Unit Linked Plans 1. 2. 3. 4. 5. 6. InvestShield Life InvestShield Cash InvestShield Gold PremierLife Life Time Life Time II

InvestShield Life The customers have already set out their financial goals for the future. However, life's uncertainties may cause them to change them over a period of time. While the need to protect their family and their capital is their priority, they also want to earn enough on their investment, so as to meet their wealth creation requirements. At ICICI Prudential, we constantly strive to understand the customers needs and provide solutions that help them plan their future better. In keeping with that endeavor, we present InvestShield Life, a regular premium Unit linked Plan with Capital Guarantee. Features Customers can choose a specific level of protection (Sum Assured) as per their needs, based on a multiple of their annual premium. Part of the premium paid is adjusted towards mortality charges, allocation charges and fixed charges and the rest is invested in their Unit Fund. Entry into the Unit Fund will be based on the Net Asset Value at that time. The total value of the policy is based on the number of units allotted and the Net Asset Value The Plan not only provides Unit-linked investment returns, but also assures the customer of a Capital Guarantee InvestShield Life The guaranteed value of the Unit Fund is the value of all the invested premiums (premium net of all charges), along with all the accrued bonus interests. Bonus interest is declared on the guaranteed value of the Unit Fund, at the end of every financial year and will have a cumulative effect. The total value of all invested premiums and declared bonus interests (as mentioned above) would remain guaranteed on death or maturity The Asset allocation under the Unit Fund is given below: Asset type % Of unit fund

Debt Minimum: 70% Equity Maximum: 30% The investment objective of the Unit Fund is to provide a balanced investment between long-term capital appreciation and current income, while protecting the capital. The difference between the bonus

Aniket R Gupta interest declared on the guaranteed value of the Unit Fund and the earned returns on the Unit Fund will never be more than 1% in any year Term Minimum premium: Minimum Sum Assured Minimum age at entry Maximum age at maturity Maximum cover ceasing age Surrender values 10-30 years Rs. 8000 p.a / Rs. 4000 per half year / Rs. 667 p.m. Rs. 1,00,000 0 65 years 75 years (including Extended Life Cover) The policyholder will also have an option of terminating the policy before the end of the term chosen. However, the surrender value of the policy would differ from year to year Policyholder can avail of a loan under this policy, after the policy has acquired a surrender value

Loan against the policy

Benefits Death Benefit: In the unfortunate event of the death of the life assured, the nominee receives the Sum Assured along with the higher of the value of the policyholders Unit Fund or the guaranteed value of his Unit Fund*. However, the death benefit will be provided only if the premiums due till date are paid in full. (For the Life Assured of age less than 7 years, only the higher of the value of his Unit Fund or the guaranteed value of his Unit Fund would be paid in case of death.) Maturity Benefit: Policyholder will receive a maturity benefit at the end of the policy term. This maturity benefit will be the higher of the value of his Unit Fund or the guaranteed value of his Unit Fund. Additional Benefits a) Additional credits for Policyholders: There would be additional credits payable to the policyholder at various points of time during the policy term. These would be payable as a percentage of the initial premium and are added to the value of his Unit Fund on death or maturity. Bonus interest will not be paid on the additional credits. b) Extended Life Cover: As an added advantage under this plan, if the policy is in force till maturity, then post-maturity, the policyholder will be covered for 50% of the Sum Assured, for the next 10 years. c) Surrender values: The policyholder will also have an option of terminating the policy before the end of the term chosen. However, the surrender value of the policy would differ from year to year. d) Loan against the policy: Policyholder can avail of a loan under this policy, after the policy has acquired a surrender value. An interest will be charged on the loan, as per the prevailing rate at that time. In case the loan amount, along with the accrued unpaid interest, becomes equal to the value of investment in the Unit Fund, then the policy will be terminated. Loans will be subject to the terms and

Aniket R Gupta conditions applicable to loans, at the time of availing the loan. Tax benefits The contributions paid by the policyholder under the base plan are eligible for tax rebate under Section 80C as per prevailing tax laws. Any amount paid to him in form of benefits will be eligible for tax benefits under section 10(10 D) as per prevailing tax laws. The deductions made towards premium for the Critical Illness Rider are eligible for deduction under section 80D. Flexibility a) Top-up ones investment: Policyholders can top-up their investment any time they have surplus funds, provided all the premiums due are paid. The top-ups will not have any effect on the Sum Assured of the product. However, topups will not be allowed in the last 3 years of the policy. The minimum amount of top-up is Rs. 2,500. The maximum top-up in a year can be an amount equal to 30 times the annual premium. b) Flexible contribution: Policyholders can increase or decrease their annual premium. The maximum decrease on any occasion can be up to 20% of the initial premium chosen at the time of inception of the policy. However, under no circumstances can the premium be reduced to below the minimum premium allowed under the plan at that time or 80% of the initial chosen premium, whichever is higher. They can also increase their annual premium contribution without any limits. Any such increase or decrease in contribution will only be allowed on policy anniversaries and does not affect the Sum Assured at that time. c) Automatic Premium Payment: Under this feature, in case of an inability to pay premiums due to a temporary financial constraint, the plan continues for a maximum of 1 year, by drawing an amount equal to the applicable premium for that year from the policyholders Unit Fund. It will have a corresponding effect on the guaranteed value of his Unit Fund. This facility is available only after the first three policy years have elapsed, provided all premiums due are paid. If the term of the policy is less than 15 years, then the policyholder can avail of this facility once during the term of the policy, and twice, if the term is equal to or greater than 15 years. This feature if required, can be availed in consecutive years as well. Riders The policyholder can be prepared for any eventuality with a choice of riders, along with the death benefits, to give him total protection - all at a marginal extra cost. a. Accident and Disability Benefit Rider: In the unfortunate event of an accidental death, apart from the emotional trauma, there are financial liabilities that a family may face. This Rider offers cover against Accident and Disability. In case of accidental death, the Sum Assured under the Rider is paid. In case of death while travelling by mass surface transport, (i.e., bus or train), twice the Sum Assured is paid In the event of total and permanent disability due to an accident, which impairs one's capacity to earn, 10% of the Sum Assured is paid every year for 10 years b. Waiver of Premium Rider: This Rider pays the initial contributions to the fund on policyholders behalf in case of a total and permanent disability due to accident. This benefit is provided till the end of the Rider term. The minimum age of entry is 18 years and the can be waived under this Rider is Rs.

Aniket R Gupta 10,00,000. This benefit will be provided for a maximum term of 30 years, subject to a maximum age of 65 years for expiry of this cover. c. Critical Illness Rider: In the event of the life assured contracting any of the specified critical illnesses, an additional payment equivalent to the Sum Assured under the Rider would be made. The cover is available up to a maximum of 65 years of age. Claims for critical illnesses are not admitted for the first 6 months of the policy. This benefit is payable on the basis of the life assured surviving 28 days from such a diagnosis. The minimum age of entry is 18 years and the maximum age of entry is 55 years. The minimum Sum Assured is Rs. 1,00,000 and maximum Sum Assured is Rs. 10,00,000. Premium Allocation and Other Charges Premium Allocation Rates: The premium allocation would be based on the annual premium limits. Charges Fixed charges: A fixed charge of Rs. 50 per month will be levied by cancellation of units. Fund-related charge: The annual fund-related charge levied on the Unit Fund would be 1.25%. This charge will be adjusted from the Net Asset Values, which would be declared on all working days. Mortality charges: Mortality charges will be deducted on a monthly basis on the Sum Assured. Top-up charges: Top-up charges will be 1% of the top-up payments made towards the policy. InvestShield Cash The road to ones financial goals may have many twists and roadblocks. While the protection for ones family and ones capital is of primary importance to a person, he also wants to earn enough on his investment, so as to meet his wealth creation requirements. At ICICI Prudential, we understand your needs. That's why, we now present InvestShield Cash, a Unitlinked Plan with Capital Guarantee*. An ideal tool for achieving your long-term financial goals with the benefits of liquidity. Features Customers can choose a specific level of protection (Sum Assured) as per their needs, based on a multiple of their annual premium. Part of the premium paid is adjusted towards mortality charges, allocation charges and fixed charges and the rest is invested in their Unit Fund. Entry into the Unit Fund will be based on the Net Asset Value at that time. The total value of the policy is based on the number of units allotted and the Net Asset Value The Plan not only provides Unit-linked investment returns, but also assures the customer of a Capital Guarantee

The guaranteed value of the Unit Fund is the value of all the invested premiums (premium net of all charges), along with all the accrued bonus interests. Bonus interest is declared on the guaranteed value of the Unit Fund, at the end of every financial year and will have a cumulative effect. The total value of all invested premiums and declared bonus interests (as mentioned above) would remain guaranteed on death or maturity

Aniket R Gupta The Asset allocation under the Unit Fund is given below: Asset type Debt and Money market instrument Term Minimum premium Minimum Sum Assured Minimum age at entry Maximum age at maturity Maximum cover ceasing age Surrender values % Of unit fund 100% 10-30 years premium Rs. 8000 p.a / Rs. 4000 per half year / Rs. 667 p.m. Rs. 1,00,000 0 60 years 75 years (including Extended Life Cover) The policyholder will also have an option of terminating the policy before the end of the term chosen. However, the surrender value of the policy would differ from year to year

Benefits Death Benefit: In the unfortunate event of the death of the life assured, the nominee receives the Sum Assured along with the higher of the value of the policyholders Unit Fund or the guaranteed value of his Unit Fund*. However, the death benefit will be provided only if the premiums due till date are paid in full. (For the Life Assured of age less than 7 years, only the higher of the value of his Unit Fund or the guaranteed value of his Unit Fund would be paid in case of death.) Maturity Benefit: Policyholder will receive a maturity benefit at the end of the policy term. This maturity benefit will be the higher of the value of his Unit Fund or the guaranteed value of his Unit Fund. Liquidity Benefit: Depending on the policyholders financial needs, he can make partial withdrawals from the 6th year onwards, till the end of the policy term. He has the option of withdrawing up to 10% of the value of the units from his Unit Fund. It will have a corresponding effect on the guaranteed value of his Unit Fund. He can avail of this option, once every year as per his convenience, any time during the policy year. Additional Benefits: a) Additional credits for Policyholders: There would be additional credits payable to the policyholder at various points of time during the policy term. These would be payable as a percentage of the initial premium and are added to the value of his Unit Fund on death or maturity. Bonus interest will not be paid on the additional credits. b) Surrender values: The policyholder will also have an option of terminating the policy before the end of the term chosen. However, the surrender value of the policy would differ from year to year. Tax benefits The contributions paid by the policyholder under the base plan are eligible for tax rebate under Section 80C as per prevailing tax laws. Any amount paid to him in form of benefits will be eligible for tax

Aniket R Gupta benefits under section 10(10 D) as per prevailing tax laws. The deductions made towards premium for the Critical Illness Rider are eligible for deduction under section 80D. Flexibility a) Top-up ones investment: Policyholders can top-up their investment any time they have surplus funds, provided all the premiums due are paid. The top-ups will not have any effect on the Sum Assured of the product. However, top-ups will not be allowed in the last 3 years of the policy. The minimum amount of top-up is Rs. 2,500. . b) Flexible contribution: Policyholders can increase or decrease their annual premium. The maximum decrease on any occasion can be up to 20% of the initial premium chosen at the time of inception of the policy. However, under no circumstances can the premium be reduced to below the minimum premium allowed under the plan at that time or 80% of the initial chosen premium, whichever is higher. They can also increase their annual premium contribution without any limits. Any such increase or decrease in contribution will only be allowed on policy anniversaries and does not affect the Sum Assured at that time. c) Automatic Premium Payment: Under this feature, in case of an inability to pay premiums due to a temporary financial constraint, the plan continues for a maximum of 1 year, by drawing an amount equal to the applicable premium for that year from the policyholders Unit Fund. It will have a corresponding effect on the guaranteed value of his Unit Fund. This facility is available only after the first three policy years have elapsed, provided all premiums due are paid. If the term of the policy is less than 15 years, then the policyholder can avail of this facility once during the term of the policy, and twice, if the term is equal to or greater than 15 years. This feature if required, can be availed in consecutive years as well. Riders The policyholder can be prepared for any eventuality with a choice of riders, along with the death benefits, to give him total protection - all at a marginal extra cost. a. Accident and Disability Benefit Rider: In the unfortunate event of an accidental death, apart from the emotional trauma, there are financial liabilities that a family may face. This Rider offers cover against Accident and Disability. a) In case of accidental death, the Sum Assured under the Rider is paid. In case of death while travelling by mass surface transport, (i.e., bus or train), twice the Sum Assured is paid. b) In the event of total and permanent disability due to an accident, which impairs one's capacity to earn, 10% of the Sum Assured is paid every year for 10 years. b. Waiver of Premium Rider: This Rider pays the initial contributions to the fund on policyholders behalf in case of a total and permanent disability due to accident. This benefit is provided till the end of the Rider term. The minimum age of entry is 18 years and the can be waived under this Rider is Rs. 10,00,000. This benefit will be provided for a maximum term of 30 years, subject to a maximum age of 65 years for expiry of this cover c. Critical Illness Rider: In the event of the life assured contracting any of the specified critical illnesses, an additional payment equivalent to the Sum Assured under the Rider would be made. The cover is available up to a maximum of 65 years of age. Claims for critical illnesses are not admitted for

Aniket R Gupta the first 6 months of the policy. This benefit is payable on the basis of the life assured surviving 28 days from such a diagnosis. The minimum age of entry is 18 years and the maximum age of entry is 55 years. The minimum Sum Assured is Rs. 1,00,000 and maximum Sum Assured is Rs. 10,00,000. Charges Fixed charges: A fixed charge of Rs. 50 per month will be levied by cancellation of units Fund-related charge: The annual fund-related charge levied on the Unit Fund would be 1.25%. This charge will be adjusted from the Net Asset Values, which would be declared on all working days Mortality charges: Mortality charges will be deducted on a monthly basis on the Sum Assured Top-up charges: Top-up charges will be 1% of the top-up payments made towards the policy InvestShield Gold In order to service the customers financial planning needs with the best the money can buy ICICI Prudential Life Insurance presents InvestShield Gold, a Unit-linked Plan with Capital Guarantee* and Limited Premium Payment term. This unique insurance solution not only meets the customers need to protect his family and capital, it also helps him gain enough on his investments. Features Customers can choose a specific level of protection (Sum Assured) as per their needs, based on a multiple of their annual premium. Part of the premium paid is adjusted towards mortality charges, allocation charges and fixed charges and the rest is invested in their Unit Fund. Entry into the Unit Fund will be based on the Net Asset Value at that time. The total value of the policy is based on the number of units allotted and the Net Asset Value The Plan not only provides Unit-linked investment returns, but also assures the customer of a Capital Guarantee The guaranteed value of the Unit Fund is the value of all the invested premiums (premium net of all charges), along with all the accrued bonus interests. Bonus interest is declared on the guaranteed value of the Unit Fund, at the end of every financial year and will have a cumulative effect. The total value of all invested premiums and declared bonus interests (as mentioned above) would remain guaranteed on death or maturity The investment objective of the Unit Fund is to provide a balanced investment between longterm capital appreciation and current income, while protecting the capital. The difference between the bonus interest declared on the guaranteed value of the Unit Fund and the earned returns on the Unit Fund will never be more than 1% in any year Term Premium paying term Minimum premium Choice of 10, 15, 20 years 5, 7, 10 years Rs. 25000 p.a / Rs. 12500 per half year / Rs. 2084 p.m.

Aniket R Gupta Minimum Sum Assured Minimum age at entry Maximum age at maturity Maximum cover ceasing age Rs. 1,00,000 0 60 years 75 years (including Extended Life Cover) The policyholder will also have an option of terminating the policy before the end of the term chosen. However, the surrender value of the policy would differ from year to year Policyholder can avail of a loan under this policy, after the policy has acquired a surrender value

Loan against the policy

Benefits Death Benefit: In the unfortunate event of the death of the life assured, the nominee receives the Sum Assured along with the higher of the value of the policyholder's Unit Fund or the guaranteed value of his Unit Fund. However, the death benefit will be provided only if the premiums due till date are paid in full. (For the Life Assured of age less than 7 years, only the higher of the value of his Unit Fund or the guaranteed value of his Unit Fund would be paid in case of death.) Maturity Benefit: Policyholder will receive a maturity benefit at the end of the policy term. This maturity benefit will be the higher of the value of his Unit Fund or the guaranteed value of his Unit Fund. Liquidity Benefit: Depending on the policyholder's financial needs, he can make partial withdrawals from the 6th year onwards, till the end of the policy term. He has the option of withdrawing up to 10% of the value of the units from his Unit Fund. It will have a corresponding effect on the guaranteed value of his Unit Fund. He can avail of this option, once every year as per his convenience, any time during the policy year. Additional Benefits: a) Choice of Maturity Term and Premium Payment Term: The maturity term of the product would depend upon the Premium Payment Term chosen. b) Additional credits for Policyholders: There would be additional credits payable to the policyholder at various points of time during the policy term. These would be payable as a percentage of the initial premium and are added to the value of his Unit Fund on death or maturity. Bonus interest will not be paid on the additional credits. c) Surrender values: The policyholder will also have an option of terminating the policy before the end of the term chosen. However, the surrender value of the policy would differ from year to year. d) Loan against the policy: Policyholder can avail of a loan under this policy, after the policy has acquired a surrender value. e) Tax benefits: The contributions paid by the policyholder under the base plan are eligible for tax rebate under Section 80C as per prevailing tax laws. Any amount paid to him in form of benefits will be eligible for tax benefits under section 10(10 D) as per prevailing tax laws. The deductions made

Aniket R Gupta towards premium for the Critical Illness Rider are eligible for deduction under section 80D. Flexibility a) Top-up one's investment: Policyholders can top-up their investment any time they have surplus funds, provided all the premiums due are paid. The top-ups will not have any effect on the Sum Assured of the product. However, top-ups will not be allowed in the last 3 years of the policy. The minimum amount of top-up is Rs. 2,500. b) Flexible contribution: Policyholders can increase or decrease their annual premium. The maximum decrease on any occasion can be up to 20% of the initial premium chosen at the time of inception of the policy. However, under no circumstances can the premium be reduced to below the minimum premium allowed under the plan at that time or 80% of the initial chosen premium, whichever is higher. They can also increase their annual premium contribution without any limits. Any such increase or decrease in contribution will only be allowed on policy anniversaries and does not affect the Sum Assured at that time. c) Automatic Premium Payment: Under this feature, in case of an inability to pay premiums due to a temporary financial constraint, the plan continues for a maximum of 1 year, by drawing an amount equal to the applicable premium for that year from the policyholder's Unit Fund. It will have a corresponding effect on the guaranteed value of his Unit Fund. This facility is available only after the first three policy years have elapsed, provided all premiums due are paid. If the term of the policy is less than 15 years, then the policyholder can avail of this facility once during the term of the policy, and twice, if the term is equal to or greater than 15 years. This feature if required, can be availed in consecutive years as well. Riders: The policyholder can be prepared for any eventuality with a choice of riders, along with the death benefits, to give him total protection - all at a marginal extra cost. a. Accident and Disability Benefit Rider: In the unfortunate event of an accidental death, apart from the emotional trauma, there are financial liabilities that a family may face. This Rider offers cover against Accident and Disability. a) In case of accidental death, the Sum Assured under the Rider is paid. In case of death while travelling by mass surface transport, (i.e., bus or train), twice the Sum Assured is paid. b) In the event of total and permanent disability due to an accident, which impairs one's capacity to earn, 10% of the Sum Assured is paid every year for 10 years. b. Waiver of Premium Rider: This Rider pays the initial contributions to the fund on policyholder's behalf in case of a total and permanent disability due to accident. This benefit is provided till the end of the Rider term. The minimum age of entry is 18 years and the can be waived under this Rider is Rs. 10,00,000. This benefit will be provided for a maximum term of 30 years, subject to a maximum age of 65 years for expiry of this cover. c. Critical Illness Rider: In the event of the life assured contracting any of the specified critical illnesses, an additional payment equivalent to the Sum Assured under the Rider would be made. The cover is available up to a maximum of 65 years of age. Claims for critical illnesses are not admitted for

Aniket R Gupta the first 6 months of the policy. This benefit is payable on the basis of the life assured surviving 28 days from such a diagnosis. The minimum age of entry is 18 years and the maximum age of entry is 55 years. The minimum Sum Assured is Rs. 1,00,000 and maximum Sum Assured is Rs. 10,00,000. Charges: Premium Allocation and Other Charges: The premium allocation would be based on the annual premium limits Fixed charges: A fixed charge of Rs. 50 per month will be levied by cancellation of units Fund-related charge: The annual fund-related charge levied on the Unit Fund would be 1.25%. This charge will be adjusted from the Net Asset Values, which would be declared on all working days Mortality charges: Mortality charges will be deducted on a monthly basis on the Sum Assured Top-up charges: Top-up charges will be 1% of the top-up payments made towards the policy PremierLife The customer can choose a specified level of protection according to his need. Part of the contribution paid is adjusted towards mortality and administrative charges and the rest is invested in the investment option of his choice. Entry into the Plan will be based on the unit value of the investment option at that time. The customer's policy value is based on the value of units allotted to him. Features Minimum premium Minimum Sum Assured Minimum age at entry Maximum age at entry Maximum cover ceasing age Additional allocation of units

Rs. 60000 p.a / Rs. 30000 per half year / Rs. 5000 p.m. Rs. 1,00,000 18 years 65 years 75 years There would be additional survival units payable to the policyholder at various points of time during the coverage term

The bonus unit structure would be, as follows: Premium Paying Term Bonus units received Premium Paying Term NIL NIL 0.5% at the end of 6th year =3 Premium Paying Term 0.25% at the end of 0.5% at the end of 8th 0.5% at the end of 6th year =5 5th year year Premium Paying Term 1% at the end of 7th 2% at the end of 12th 0.5% at the end of 6th year =7 year year Premium Paying Term 2% at the end of 3% at the end of 15th 0.5% at the end of 6th year = 10 10th year year

Aniket R Gupta The value of units will be computed as the time weighted value of the funds in the three years preceding the bonus unit allocation. Surrender value The surrender value of the policy would differ from year to year Loan against the policy After the policy has acquired a surrender value, the policyholder can avail of a loan under this policy Benefits a. Death Benefit: The death benefit will be higher of the Sum Assured (decreased by the amount of withdrawals made) or value of units. b. Liquidity: Partial withdrawals would be allowed after the 3 policy years and after payment of 3 years' premiums. Partial withdrawals would be subject to surrender value. Each partial withdrawal during the 4th and 5th year would be limited to 20% of the value of the investments at the time of withdrawal. The minimum partial withdrawal amount has to be Rs. 10,000. In a policy year, two withdrawals would be free. Any more than two withdrawals would be charged 0.25% of the withdrawal amount, subject to a maximum limit of Rs. 1,000.. c. Additional allocation of units: There would be additional survival units payable to the policyholder at various points of time during the coverage term. d. Surrender value: The surrender value of the policy would differ from year to year. e. Loan against the policy After the policy: It has acquired a surrender value, the policyholder can avail of a loan under this policy. Interest will be charged on the loan, as per the prevailing rate at that time. No partial withdrawals can be made during the loan period. In case the loan amount along with the accrued unpaid interest becomes equal to the value of the units, then the policy will be terminated. Loans will be subject to the terms and conditions applicable at the time of availing the loan. Options a. Choice of Premium Paying Term: The customer can choose between the following premium paying term options: 3 year Term 5 year Term 7 year Term 10 year Term b. Sum Assured: The Sum Assured under the product would be a multiple of the annual contribution. The minimum multiple would be 1 and the maximum multiple would be 25 times the annual contribution. However, the minimum chosen Sum Assured at inception should be Rs. 1,00,000. c. Choice of investment plan: the policyholder has the option to choose how he wants his investments to grow based on the objectives of each of the plans. Maximiser II Protector II

Aniket R Gupta Balancer II Preserver Asset Allocation Fund Maximiser II Balancer II Protector II Preserver

Asset Mix Equity & Related securities : Max. 100% Debt, Money market & Cash : Max. 25% Equity & Related securities : Max. 40% Debt, Money market & Cash : Min. 60% Debt instruments : Max .100% Money & Cash : Max. 25% Debt instruments : Max. 50% Money & Cash : Min. 50%

Potential Risk-Reward High Average Moderate Low

d. Choice to switch between investment options There is a provision of four free switches every policy year, subject to the condition that the minimum switch amount is Rs.10,000. All additional switches will be charged at Rs.100 per switch. e. Choice of Top-up At any time of his life, the policyholder could find himself in receipt of a windfall or surplus funds, which he would like to invest and gain more. At this stage, PremierLife provides just the opportunity he needs. It allows him to Top-up his regular annual contribution and invest his money, without affecting the Sum Assured attached to it. The Top-ups are a pure investment vehicle and can be invested in any of the funds, irrespective of the fund pattern of the regular annual contribution. The minimum Top-up amount is Rs. 5,000. However, it must be noted that the Top-up contribution in any policy year would be added to the regular contribution of that year to compute the Sum Assured: Annual contribution ratio for taxation purposes. Flexibility a. Flexible Sum Assured: Over time the policyholder's liabilities may decrease - various loans are paid off, his children become independent and so on. With PremierLife, he has the option of decreasing his Sum Assured whenever he requires. However, an increase in Sum Assured is not permitted. b. Flexible Contribution: The policyholder can increase / decrease his annual contribution. The maximum decrease on any occasion can be up to Rs. 60, 000, which is the minimum premium in the product. He has the flexibility to increase his annual contribution without any limits. Any such increase / decrease in contribution will only be allowed on policy anniversaries. Riders We ensure that the policyholder is prepared for any eventuality, with a choice of riders along with the death benefits to give him total protection. All this is at a marginal extra cost.

Aniket R Gupta a. Accident and Disability Benefit Rider: In an unfortunate event like accidental death, apart from the emotional trauma, there are financial liabilities that a family may face. This rider offers cover against Accident and Disability. In the event of death due to accident, the nominee gets an additional Sum Assured under the rider. In case of accidental death while traveling by mass surface transport, viz; bus or train, the nominee will get twice the Sum Assured under the rider In the event of total and permanent disability due to an accident, which impairs one's capacity to earn, 10% of the Sum Assured is paid every year for 10 years b. Critical Illness Rider: In the event of the life assured contracting any of the specified critical illness, an additional payment equivalent of the Sum Assured under the rider would be made. The cover is available up to a maximum of 65 years of age. Claims for critical illnesses are not admitted for the first 6 months of the policy. This benefit is payable on the basis of the life assured surviving 28 days from such diagnosis. The minimum age of entry is 18 and the maximum age of entry is 55. Minimum Sum Assured is Rs .1,00,000 and maximum is Rs. 10,00,000. Unit Value Calculation Unit Value is calculated daily on a forward pricing basis. Unit Value = (Market / Fair Value of the relevant Plan's plus Current Assets less Current Liabilities and Provisions) / Number of Units outstanding under the relevant Plan. Charges a) Premium Allocations: The Premium Allocation would be based on the annual contribution. b) Administration and fund management charges: Fixed charge: A fixed charge of Rs. 60 per month will be levied by cancellation of units. Fund related charge: The annual fund related charge on the various funds will be as follows: Fund Type Fund related charge Maximiser II 1.50% p.a. Balancer II 1.00% p.a. Protector II 0.75% p.a. Preserver 0.75% p.a. These charges will be adjusted from the Net Asset Values. c) Mortality charges: Mortality charges will be deducted on a monthly basis on the calculated value of life cover. Life cover is the difference between the Sum Assured (at that time) and the value of investments. Mortality rates will be guaranteed. d) Top-up charges: Top-up charges will be 1% of the Top-up amount. For Top-ups made after 5 years, there will be no charge. e) Switch charges: Except for the four free switches allowed every policy year, all other switches will be charged at Rs.100 per switch. Exceptions

Aniket R Gupta a. In case the Life assured is more than 75 years of age at the time of death, the value of units will be paid. b. In case of partial withdrawals, the policyholder needs to maintain a minimum balance of Rs.10,000 across all funds. In case the unit value is inadequate to cover the charges, the policy will terminate. LifeTime Customers' financial priority in life, be it Savings, Protection or Investment, depends on the stage of life they are in. With changing life stages, their priorities will change as well. To meet these constantly evolving needs, they may need to buy different policies at every stage. Now, ICICI Prudential Life Insurance presents a comprehensive range of unit-linked products that take care of their wealth creation by providing them flexibilities in savings and investments and options for their protection needs. We present LifeTime and LifeTime II, a comprehensive portfolio of products that provide them complete flexibility to choose a solution, based on their specific needs. The customer can choose a specified level of protection according to his need. Part of the premium paid is adjusted towards mortality and administrative charges and the rest is invested in the plan of his choice. Entry into the plan will be based on the unit value of the plan applicable on the date of policy issue. Your policy value is based on the value of units allotted to you. Benefits Death Benefit: In the unfortunate event of death, the policyholder's close ones is spared an uncertain future. Our guaranteed death benefit ensures that the nominee / s will receive the higher of either the death benefit chosen (less any withdrawals) or the value of the units Liquidity: There is no maturity date. Anytime after 3 years of commencement (provided the policyholder has paid premium for 3 full years) he can make partial or complete withdrawals, at no penalty, to meet his immediate requirements Options a. Choice of investment plan: The policyholder has the option to choose how he wants his investments to grow based on the objectives of each of the plans. The options available are: Maximiser Protector Balancer Preserver b. Choice to switch between investment options: If at a later stage the policyholder's financial priorities change, he can switch between the various investment options at any time. There is a provision of 4 free switches every policy year, subject to the condition that the minimum switch amount is Rs.10,000. Any switch beyond this limit will be charged at Rs.100 per switch. c. Choice of a Top-up: The policyholder can Top-up his investment any time he has surplus funds. The Top-ups will not have any effect on the Sum Assured of the product. The minimum amount of Top-up is Rs.5,000. Flexibility a. Increase death benefit: At various stages of the policyholder's life his liabilities may increase-

Aniket R Gupta marriage, children, a new home, children leaving home for higher studies. LifeTime lets him increase his death benefit without any underwriting during special events 3 times or every third year up to 3 times. This increase is @ 25% of original death benefit or Rs.1,00,000 whichever is lower, each time. He can also increase his protection at higher levels at any policy anniversary subject to underwriting rules. b. Decrease your death benefit: Over time the policyholder's liabilities may decrease too - various loans get paid off; his children become independent and so on. So, if he wants to decrease his death benefit, he can do that too, at any policy anniversary. c. Premium holiday option: If the policyholder had been making premium payments for at least 3 years and then misses out on the subsequent payments, his policy will not lapse. We will ensure that he continues to be covered and will adjust his mortality premiums against his unit fund. d. Flexible contribution: The policyholder can increase or decrease his annual contribution. The maximum decrease in the contributions can be up to 20% of the initial contribution chosen by the him at the time of inception of the policy. However, in no circumstances can the contribution be reduced to below the minimum premium allowed under the plan at that time, or 80% of the initial chosen contribution, whichever is higher. The policyholder has the flexibility to increase his contribution without any limits. Any such increase or decrease in contribution will only be allowed on policy anniversaries. Other Benefits a. Additional allocation of units: The policyholder would be provided with additional allocations on a periodic basis. These would depend upon the total value of units of the policy. The schedule of the additional allocation would be as follows: b. Surrender Values: This policy acquires a surrender value after three complete years of the policy, provided the first three years' premiums are paid. The Surrender Value is 100% of the value of investments. c. Loan against the policy: After the policy has acquired a surrender value, the policyholder can avail of a loan under this policy. An interest will be charged on the loan, as per the prevailing rate at that time. No partial withdrawals can be made during the loan period. In case the loan amount along with the accrued unpaid interest becomes equal to the value of the units, then the policy will be terminated. Loans will be subject to the terms and conditions applicable to loans at the time of availing the loan. Charges a. Premium Allocations: The premium allocation would be based on the annual contribution limits. b. Annual Administrative and Fund Management charges: The annual administrative and fund management for the four funds are a percentage of the Net Asset Value (NAV). c. Mortality charges: Mortality charges will be deducted on a monthly basis on the calculated value of life cover. Life cover is the difference between the Sum Assured and the value of investments. These are a set of renewable charges depending upon the age of the policyholder, at the time of deduction of mortality charges.. d. Top-up charges: Top-up charges will be 1% of the Top-ups. e. Switch charges: Except for the 4 free switches allowed every policy year, all other switches will be

Aniket R Gupta charged at Rs.100 per switch. LifeTime II Features Minimum age at entry Maximum age at entry Maximum age of cover

0 years (18 years for Level 2 Sum Assured) 60 years (35 years for Level 2 Sum Assured option) 70 years

Benefits Death Benefit: In case of unfortunate death of the life assured Death Benefit will be higher of the Sum Assured or the value of the units at the time of death, less any withdrawals made before death. However, in case the life assured is less than 7 years, or more than 70 years of age at the time of death, the value of units will be paid. Liquidity: There is no maturity date of this policy. Any time after the policyholder has paid the contribution for 3 full years, he can make partial withdrawals at no penalty to meet his immediate requirements. The minimum amount of partial withdrawal has to be Rs. 2,000. He can also opt for complete withdrawal (surrender) after one full year's premium has been paid. Additional allocation of units to policyholders: The policyholder would be provided with additional allocations on a periodic basis. These would depend upon the total value of units of the policy. Loan against the policy: After the policy has acquired a surrender value, the policyholder can avail of a loan under this policy. Surrender Values: This policy allows surrender after 1 year's contribution is paid. Tax benefits Tax Benefits: The premiums paid by you are eligible for tax benefit under Section 80C. Any amount paid to you in form of withdrawals or other benefits will be eligible for tax benefits under Section 10 (10 D). The deductions made towards Rider charges for the Critical Illness and Major Surgical Assistance Riders are eligible for deduction under Section 80D. All tax benefits are subject to prevailing tax laws. Options: a. This product offers two options of the Sum Assured: Level 1: The base Sum Assured remains a multiple of the annual contribution and will remain the same throughout the tenure of the policy. Sum Assured = Annual contribution x A multiple Level 2: The policyholder can choose this option if he wants to increase his Sum Assured, along with the increase in his responsibility and need for insurance. The base Sum Assured starts increasing by 15% (of the initial amount) from the beginning of the 4th year till the beginning of the 10th year of the policy. However, each increase cannot be more than Rs. 3,00,000. This option is available to all individuals between 18 to 35 years of age. There will be an additional charge (over and above mortality charges) that will be levied to provide the guaranteed increases in the Level 2 Sum Assured. b. Choice of investment plan: The policyholder has the option to choose how he wants his investments to grow, based on the objectives of each of the plans. Maximiser II

Aniket R Gupta Protector II Balancer II Preserver c. Choice to switch between investment options: If at a later stage, if the policyholder's financial priorities change, he can switch between the various investment options at any time. There is a provision of 4 free switches every policy year, subject to the condition that the minimum switch amount is Rs.10,000. Any switch beyond this limit will be charged at Rs.100 per switch. Plan Composition Risk / Reward Maximiser II (Growth) Equity & Related Security. Max. 100% High Debt, Money Market & Cash. Max. 25% Balancer II (Balanced) Debt, Money Market & Cash. Min. 60% Average Equity & Equity Related securities. Max. 40% Protector II (Income) Debt Instruments. Max.100% Moderate Money Market & Cash. Max. 25% Preserver Debt Instruments: Max. 50% Low Money Market & Cash: Min. 50% d. Choice of a Top-up: The policyholder can Top-up his investment any time he has surplus funds. The Top-ups will not have any effect on the Sum Assured of the product. The minimum amount of Top-up one can make is Rs. 5,000. Flexibility a. Flexible Sum Assured Increase Sum Assured: LifeTime II offers the flexibility to increase his death benefit any time during the term, depending upon his changing protection requirement. However, any such increase would be subject to underwriting at the time of such increase. This increase is over and above the increase in Sum Assured under Level Decrease Sum Assured: LifeTime II, also has the option of decreasing his Sum Assured. However, any increase after the decrease in Sum Assured will be subject to underwriting and can be done only at policy anniversary b. Flexible contribution: The policyholder can increase or decrease his annual contributions. The maximum decrease in the contributions can be up to 20% of the initial contribution chosen by him at the time of inception of the policy. However, under no circumstances can the contributions be reduced to below the minimum premium allowed under the plan at that time, or 80% of the initial chosen contributions, whichever is higher. He has the flexibility to increase his contributions without any limits. Any such increase or decrease in contributions will only be allowed on policy anniversaries. c. Automatic Cover Continuance: This is a facility provided by the product wherein, the insurance cover under the policy continues even if there is a temporary break in the payment of annual contribution after 3 years' premiums have been paid. During this period, the cover continues by

Aniket R Gupta deducting mortality charges (in terms of units) from the value of investments. However, this facility can be availed subject to two conditions: i) The break in contribution can only be availed, in case contributions till that date are paid off. ii) Until 10 years' premiums have been paid, this facility can be availed for a maximum of two years at a time. After 10 years' premiums have been paid, one can avail of this facility without the above- mentioned conditions. Charges a. Premium Allocations: The premium allocation would be based on the annual contribution limits. The yearly allocation schedule would be as follows: % Allocation of the Premium Contribution Range 1st Year 2nd - 5th Year 6th - 10th Year 11th Year onwards Up to 35,999 81% 96% 98% 99% 36,000-99,999 83% 96% 98% 99% 100,000-4,99,999 85% 96% 98% 99% 5,00,000+ 88% 96% 98% 99% b. Administrative and Fund Management charges: An administrative charge of Rs. 60 per month will be levied by cancellation of units. The annual fund-related charges on the various funds are as follows: Fund type Investment Charge Maximiser II 81% Balancer II 83% Protector II 85% Preserver 88% c. Mortality charges: This charge will be deducted on a monthly basis on the calculated value of life cover. Life cover is the difference between the Sum Assured and the value of investments. These are a set of renewable charges depending upon the age of the policyholder, at the time of deduction of mortality charges. d. Top-up charges: Top-up charges will be 1% of the Top-ups. e. Switch charges: Except for the 4 free switches allowed every policy year, all other switches will be charged at Rs.100 per switch. Riders We ensure that the policyholder is prepared for any eventuality, with a choice of riders along with the Death Benefits to give him total protection - all at a marginal extra. Accident and Disability Rider: In the unfortunate event of accidental death, apart from the emotional trauma, there are financial liabilities a family must face. This rider offers cover against Accident and Disability. In the event of death due to accident, the nominee gets an additional Sum Assured under the

Aniket R Gupta rider. i) In case of accidental death while traveling by mass surface transport, the nominee will get twice the Sum Assured under this rider ii) In the event of total and permanent disability due to an accident, which impairs one's capacity to earn, 10% of the Sum Assured is paid every year for 10 years Waiver of Premium Rider (LifeTime II only): This rider pays the contributions to the fund on your behalf in case of a total and permanent disability The exit option due to an accident. This benefit is provided till the end of the rider term. The minimum age of entry is 18 years and the maximum age of entry is 55 years. The maximum premium that can be waived under this rider is Rs.10,00,000. This benefit is provided for a maximum of 30 years subject to a maximum age of 65 years, for expiry of this cover. The minimum term is 10 years. Critical Illness Rider: In the event of the life assured contracting any of the specified critical illness, an additional payment equivalent of the Sum Assured under the rider would be made. The cover is available up to a maximum of 65 years of age. Claims for critical illnesses are not admitted for the first 6 months of the policy. This benefit is payable on the basis of the life assured surviving 28 days from such diagnosis. The minimum age of entry is 18 years and the maximum age of entry is 55 years. Minimum Sum Assured is Rs.1,00,000 and maximum Sum Assured is Rs.10,00,000. QUESTIONS: 1. Risks that a proposer is exposed to can be of different variety, like, Occupational, Lifestyle, _____________ *Medical 2. LifeTime Pension II is a__________________ premium plan *Regular 3. The exit option for LifeLink Pension II is *Surrender of the policy is possible any time after the payment of the single premium 4. __________ is used with reference to financial protection against a possibility, such as fire, accidental damage, theft, etc. *Insurance 5. There is _________ date of this Life Time II policy *maturity 6. The minimum amount of premium as per LifeTime Pension II are *minimum annual premium is Rs.10,000*half yearly premium is Rs.5,000 7. SmartKid is especially designed to provide flexibility and safeguard a *future education of the child*lifestyle 8. In this variant the premiums that are paid by the policyholder are returned at the end of the term i.e., on maturity to the policyholder. commitment and during which period insured can face circumstances which might lThe Premium Allocation would be based on the *LifeGuard ROP 9. Which of the following are true for survival benefits? *It is nonpayable before expiry of the full term of the policy, on assurance of life survival 10. Premium is ________ related to risk. *directly 11. The fundamental principle underlying insurance is that it _________________

Aniket R Gupta *has to be popular and fair. 12. Life assurance is based on *Compound interest 13. The term in InvestShieldLife is __________ years *10 to 30 years 14. Insurance benefits society by way of *Providing relief to the insured from any mishap*Placing large sums of money at the disposal of the government for development of the economy. 15. Which of the following are true for death claims? *Early or premature claims arising within 2 years of commencement, revival or reinstatement of the policy*Non early claims arising after 2 years of commencement, revival or reinstatement of the policy 16. Life Insurance is a _____________ commitment and during which period insured can face circumstances which might lead to a change in the policy status *long term 17. The Premium Allocation would be based on the________ contribution. *annual 18. Re insurers, _______________ the risk with the insurer. *share 19. The function of LALGI is *to extend benefits to economically weaker sections of the community 20. As per the unitlinked investment the customers ______________ a specific level of protection as per their needs, based on a multiple of their annual premium *can choose 21. Revival of a policy is ______________ if the policy is in a lapsed condition for more than five years, as it would be more advantageous for the policy holder to go in for a new policy. *advised 22. LIC of India created a social security fund called LALGI *True 23. Which of these following are true as per Life Time Plan *Customer has the choice of investment plan at the start of the policy but cannot switch between investment plans during the term 24. In order to facilitate change and continuation of the policy the required mechanisms are *all the above 25. Which of the following are true for Lifeguard SP *Minimum Sum Assured Rs. 2,50,000 *Term 3 15 years *Death benefits during the term of the policy The entire sum assured 26. Risk transfer means that an individual or an organisation transfers the risk to someone else *True 27. In India, social security is in__________of the constitution. *Article 41 28. There is a _________________proposal form for the risk covering own life and the risk covering the life of another person *separate 29. Insurance companies also provide savings policies. For economic development savings translate into investments to fund this development. Savings channeled into investments imply economic growth. Take a guess! What do you think would be the investment portfolio of LIC?

Aniket R Gupta *More that 100,000 crores 30. The proposer is required to give statutory details about himself like *Date of birth and address*Medical histroy and occupation*Insurance amount, mode of insurance, nominee 31. The duty of complete disclosure is that of both the parties and both insurer and proposer must disclose all material facts to each other. *True 32. Which of these statements are true with respect to Lifeguard SP target segment? *People going in for liabilities like housing loan or any other sort of liability*Young professionals that have an earning but are not too sure about it in the future*Students who are going to study abroad*People who are going on short term or middle term assignments abroad 33. If a policy holder has not paid the premium and has died then ______________ as per the contract *the insurer is liable to pay 34. As per ForeverLife Pension Plan,once the policy holder is__________of age, the annuity will be fixed for life and not reviewed thereafter *65 years 35. __________Is the duty to disclose all material facts relating to the risk to be covered *Principle of Utmost Good Faith 36. Which of the following statements are true in the context of Life Insurance *All 37. The minimum top up amount is Rs.________________ for LifeTime Pension II & LifeLink Pension II *5000 38. Which of these statements are true with respect to Lifeguard WROP target segment? *People who are looking for pure protection *Businessmen & Individuals that have liabilities 39. For a policy to remain in force the premia needs to *Routinely as per the contract and within the stipulated grace period. 40. Bonus interest _____________ paid on the *will not be 41. If, there is no insurable interest during the time of application, then the __________ *policy will not be carried out. 42. Unit linked plan consists of *InvestShield Life, InvestShield Cash, PremierLife, LifeTime and InvestShield Gold 43. Revival without evidence of good health is applicable if *The arrears of premia are paid during the period of last 12 months prior to the date of maturity in case of endowment policies 44. Compound interest *determines the level of premium to be paid 45. Utmost good faith is *a Positive duty to disclose, accurately and fully, all facts material to the risk being proposed, whether requested or not 46. If death is certain, then what does Life insurance cover? *Protects against loss of income of an individual 47. Policy holder __________a nominee as the beneficiary, in case of a death claim *can select 48. In Cashbak the term is

Aniket R Gupta *15 years and 20 years 49. Agents repo *All 50. The minimum premimum under Save n Protect plan is *Rs 5000 51. It is the role of the _________ to gather all information, which might influence the insurance amount and provide them to the underwriting department. *proposer 52. In this variant the premiums that are paid by the policyholder are returned at the end of the term i.e., on maturity to the policyholder. *LifeGuard ROP 53. For grant of loan, the policy holder has to assign the policy in ____________. *favour of the insurer 54. Which of these following are true as per smart kid policy *All 55. Which of the following are true for tax benefits against InvestShield Life *The contributions paid by the policyholder under the base plan are eligible for tax rebate under Section 80C as per prevailing tax laws*Amount paid to him in form of benefits will be eligible for tax benefits under section 10(10 D) as per prevailing tax laws.*The deductions made towards premium for the Critical Illness Rider are eligible for deduction under section 80D. 56. In business parlance, there are two different branches of insurance, which are *Life Insurance insures the life of a person & Non Life Insurance insures everything else 57. A village has 200 houses in it. Every year at least 5 houses get destroyed due various reasons and need to be rebuilt. Every house costs Rs.1,000 to build. If you were to run a simple insurance program for securing house owners, suggest the amount you would like to take as premium. *25 58. InvestShield Life,is a regular premium Unit linked Plan ____________________ *with Capital Guarantee 59. Mrs Rose took a money back policy 5 years back for a tenure of 20 years.She is expecting the first installment of the money back.Then which of the following claim is applicable to her? *Survival 60. Loans are generally granted upto *90% of the surrender value for in force policies *85% of the surrender value for in 61. If the person to be insured tells an untruth, the contract will be voidable for misrepresentation; if this person also suppresses a material fact, it will be voidable for nondisclosurex *True 62. Nomination is a way to ensure easy payment of policy moneys in case of_________ claims *death 63. The Premium Allocation Charges for LifeLink Pension II is *The allocation of the contribution would depend on the first contribution made 64. Which of the following are true for Premier Life *All 65. Which the following statements is true for the Insurance Proposal Form *It contains information on the health of proposer*It has insurance terms premium, maturity, nomination, etc.*It is signed by the insurance advisor towards having collected the stated information*It is signed by the insurance proposer towards having provided the stated

Aniket R Gupta information 66. The mathematics of probability *determines the growth over time,through investment,of the fund constituted by the intake of premiums 67. Surrender is a_________________ termination of a contract by a policy holder *voluntary 68. Based on the _________________tables the premium is calculated *Morbidity table 69. ForeverLifePension provides an option that _________the policyholder the flexibility to buy a pension from any other insurer of his choice, at the time of vesting. *allow 70. All policies terminate into a claim, which is of the type *Maturity*Survival or Death 71. ICICI Prudential offers the following category of product *Protection Plans*Endowment*Annuity Plans*Unit Linked Plans 72. The basic mechanism of insurance works with the principle that, people exposed to the same risks come together and pool funds to protect each individual against risk. Therefore, risk is ________. *spread out 73. People with similar characteristics are grouped together and are charged a premium based on the ________________ *level of risk of the group 74. Which of the following are true for InvestShield Cash *As Death Benefit, the nominee receives the Sum Assured along with the higher of the value of the policyholder`s Unit Fund or the guaranteed value of his Unit Fund 75. Mr. Mahajan is a captain with a leading airline. He is 40 years old and is healthy. He wants to take a term insurance. Which of the following statements should Mr. Mahajan convey to the insurance advisor, as per the principle of Utmost Good Faith. *I am exposed to higher risk because of my job *I follow a healthy life style* I don`t smoke or drink 76. Which of the following are true as per LifeTime Pension II *Min Vesting Age 45 years * Max Vesting Age 75 years 77. Which of the following are true for InvestShield Gold *Term Choice of 10, 15, 20 years*Minimum premium Rs. 25000 p.a / Rs. 12500 per half year / Rs. 2084 p.m*Maximum age at maturity 60 years *Minimum age at entry 10 78. Policyholders can _______________ their annual premium *can increase or decrease 79. Underwriting is the process of classifying applicants for insurance by identifying characteristics such as *age*gender*health*occupation and lifestyle 80. Min Premium in smart kid policy _______________ *Rs. 8400 p.a. 81. During the postponement of the vesting age __________________ *the client will be allowed to make top up premiums. 82. Mr. Sawant wants to insure his 15 year old son and step son, who are students,for Rs.3 Lakhs each.He can carry out the insurance contract if *Mr. Sawant is assumed to be in the capacity to pay

Aniket R Gupta 83. Which of the following are true for maturity claims?The exit option for LifeTime Pension II is *It is payable as per the terms of the contract at the end of the policy, if the assured lives up to that date. *It includes the Sum Assured and any other specified sum, plus vested bonuses*Any debt or charge under policy, like loans, outstanding premia will be deducted 84. Misrepresentation must be concerned with facts that are material to the acceptance or assessment of the risk. *True 85. Which of the following are true for Save n Protect plan *All 86. A___________ is a fact,which would influence the mind of a prudent underwriter in deciding whether to accept a risk for insurance and on what terms. *material fact 87. As per smart kid policy *Age at entry (child) 0 12 years 88. The proposer is required to give statutory details about himself like *Date of birth and address*Medical histroy and occupation*Insurance amount, mode of insurance, nominee 89. Which of the following are true for Life Time II Policy *There is no maturity date; customer can make partial or complete withdrawals anytime after he has paid premium for full years *Minimum age of entry is 18 years for Level 2 Sum Assured*The customer has the choice of investment plan at the start of the policy and can switch between investment plans during the term 90. The exit option for LifeTime Pension II is *will allow surrender after 1 year premium is paid 91. The minimum sum assured is ________________against Cashbak plan. *Rs. 75,000 92. Which of the following are true with Working of Annuity *The accumulated value would start paying the policyholder regular income in the form of an annuity, at a frequency chosen by him*On vesting, the policyholder has the option to take up to one third of the units as a lump sum and the balance in the form of an annuity*The policyholder has the option of selecting a guaranteed annuity rate period of either 5 or 7 years 93. Father has an insurable interest in the life of the monor child and the child has an insurable interest in the life of the father. *True 94. LifeTime Pension II provides *The policyholder can opt for a zero Sum Assured and hence make it a pure accumulation product*The policyholder can opt for a Sum Assured, which will be equal to the product of his annual contribution and term. However, no change in the Sum Assured will be allowed, once chosen, at the time of inception of the policy 95. Protection plan consists of *Lifeguard ROP,Lifeguard WROP and Lifeguard SP 96. There are several schemes, which are offered to facilitate revival. Two fundamental schemes are *Revival with evidence of good health 97. For a policy to remain in force the premia needs to be paid *Routinely as per the contract and within the stipulated grace period. 98. Policyholder can avail of a loan under InvestShield Gold policy ___________ *after the policy has acquired a surrender value

Aniket R Gupta 99. Events that must occur at some time, such as death, are provided for by ___________ *assurance 100. The min term is ________ years in smart kid policy *10 years 101. Mr Kiran has burrowed money from a private financer.He need to provide his insurance policy as a guarantee, which shall be returned after timely repayment of the loan. Then what applies? *Assignment 102. ICICI Prudential presents _________ Retirement Plans *4*InvestShield Pension*LifeTime Pension II 103. Revival with evidence of good health is applicable if *The policy was of endowment type and the arrears of premium are received in the second year (within 12 to 24 months) prior to maturity date 104. The Premium Allocation Charges for LifeTime Pension II *The allocation of the contribution will depend on the annual contributions made 105. Annuity plan consists of *ForeverLife, LifeTime Pension II and InvestShield Pension