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ICICI Prudential Life Insurance

ICICI Prudential Life Insurance is a renowned Indian insurer that offers a wide range of plans to meet customers’ various needs. Whether you want a pure term insurance plan, or an endowment plan, a ULIP, or plans for your retirement, this insurer has everyone covered.

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With a Claim Settlement Ratio (CSR) of 99.17% in FY 2023-24, you can trust that they are good at quickly settling claims. Let’s discuss ICICI Prudential Life Insurance in detail here.

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What is ICICI Prudential Life Insurance?

ICICI Prudential Life Insurance Company Ltd. (ICICI Prudential Life Insurance) is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Ltd. The insurer started operating in 2001 in India and are considered one of the country’s leading insurers. It offers a comprehensive range of insurance plans, such as term, pension, child, ULIP, and group plans.

Key Highlights of ICICI Prudential Life Insurance

Parameters Details
Claim Settlement Ratio (CSR) 99.17% (FY 2023-24)
Solvency Ratio 191.8% (FY 2023-24)
Assets Under Management (AUM) ₹ 3,088.75 billion (as of June 30, 2024)
Recognitions & Achievements
  • First private life insurer in India to reach ₹1 trillion in assets under management in FY2015
  • First insurance company to be listed on the NSE and BSE.

What are the Benefits of ICICI Prudential Life Insurance?

Here is a list of all the ICICI Prudential Life Insurance Benefits that you need to know before buying an ICICI life insurance plan.

  • Financial Protection: ICICI Prudential Life Insurance plans offer financial security for your loved ones in case of your untimely death. Group plans also protect employees in organizations.

  • High Claim Settlement Ratio: The company has a strong Claim Settlement Ratio of 95.28% for the financial year 2022-23, indicating that most claims filed are successfully settled.

  • Reputed Insurance Provider: Established in 2001, ICICI Prudential is a joint venture between ICICI Bank and Prudential Corporation Holdings. It has received numerous awards and was the first private life insurer to manage assets of ₹1 trillion.

  • Budget-friendly Premiums: ICICI Prudential offers comprehensive plans at affordable rates. They provide a lifetime discount of 15% on premiums for female customers and an additional 15% discount on the first year's premiums for salaried women.

  • Online Customer Services: Customers can manage their policies easily through the ICICI Life Insurance Login Portal, where they can pay premiums, update personal information, and track claims.

*Note: If you want to quickly know the premium amount of your term insurance plan, you can use the term insurance calculator.

What are the Types of ICICI Prudential Life Insurance Plans?

Here are all the different types of life insurance plans offered by ICICI Prudential Life Insurance Company.

ICICI Prudential Term Plans

The term life insurance policy helps protect your family’s future and ensures that they lead their lives comfortably without any financial worries, even in your absence. These ICICI Prudential term insurance plans offer a death benefit to your family in the event of your unfortunate death during the policy term. Your family can use this amount to live their lives comfortably and pay off their debts. Some of these also offer the benefits of term insurance with return of premium plans. Let’s understand them here:

Plan Name Entry Age Maximum Maturity Age Policy Term
ICICI Pru iProtect Smart 18 - 65 years 99 years 5 - 69 years
ICICI Pru Protect and Gain 18 - 60 years 90 years 30 - 40 years
ICICI Pru iProtect Return of Premium 18 - 60 years 85 years 5 - 40 years
ICICI Pru Saral Jeevan Bima 18 - 65 years 70 years 5 - 40 years
ICICI Pru iCare II 18 - 65 for RP (Regular pay) 18 - 60 years for SP (Single pay) 85 years 5 - 67 for RP 5/10 for SP
ICICI Pru Precious Life 18 - 65 years 70 years 5 - 40 years
ICICI Pru Life Raksha 18 - 60 years - 5 years
ICICI Pru Loan Protect 18 - 65 years 70 years 5 - 30 years
ICICI Pru Loan Protect Plus 18 - 65 years 70 years 5 - 30 years
ICICI Pru iProtect Supreme 18 - 55 years 85 years Min: 20 years
  1. ICICI Pru iProtect Smart

    • This ICICI Prudential Life Insurance offers special premium rates, especially for non-tobacco users. 

    • Gives a choice to increase the life cover at important milestones in life like marriage and childbirth or adoption.

    • Tax benefits of term insurance applicable on premiums paid as per prevailing tax laws.

    • The need-based benefit payout option is available as a lump sum or monthly income for 10 years.

    • Offers flexibility to pay premiums once, for a limited period, or throughout the policy duration.

  2. ICICI Pru Protect and Gain

    • This ICICI life insurance policy offers dual benefits of protection and wealth creation.

    • You can get a life cover of up to 100X of your annual premium

    • You will receive a maturity booster on completing the policy term

    • The plan provides the option of receiving monthly payouts via SWP

    • You can get tax benefits as per the prevailing tax laws

  3. ICICI Pru iProtect Return of Premium

    • With the plan’s return of premium option, you can receive all the premiums back on maturity.

    • You can also choose to receive monthly income benefits after you turn 60 years of age.

    • This ICICI prudential life insurance policy offers a return of premium with life stage cover, which changes your life cover according to your life stage and returns your premiums on maturity.

    • The early return of premium with life stage cover returns your premiums at the age of 60/70 and get your life cover changes at the respective life stages.

    • The option to choose from 4 different benefit options and include critical illness or accidental death benefit riders.

  4. ICICI Pru Saral Jeevan Bima

    • The Saral Jeevan Bima plan offers a death benefit to your family in case of your unfortunate death during the policy term.

    • This ICICI life insurance policy also offers cover against accidental death only during the 45-day waiting period.

    • If the policyholder dies during the waiting period for any reason other than accidental, the nominees will only receive 100% of the premiums paid, excluding taxes.

    • The plan offers premium payment flexibility: You can pay your premiums in a lump sum, over a limited period, or throughout the policy term.

    • The plan allows you to claim tax exemption per prevailing tax laws.

  5. ICICI Pru iCare II

    • Secures the future of the insured's loved ones even in his/her absence.

    • You can choose a protection cover per your requirements from two options.

    • This ICICI prudential life insurance policy can be started with a minimum premium of Rs. 2,400 per annum, excluding the cesses and taxes, which are applicable.

    • The insured can pay the premium either all at once or at regular intervals throughout the plan period.

    • Provides tax benefits under the IT Act of 1961.

  6. ICICI Pru Precious Life

    • This ICICI life insurance policy offers wide coverage for people with current health issues and for those who have successfully recovered from any disease/surgeries.

    • You can enhance your life cover by including the accidental death benefit rider in the base plan.

    • You can select the benefit payout as per your family’s needs.

    • The plan offers flexibility to pay premiums with their single premium, regular premiums, or limited premium payment.

    • There are lower premium rates for non-tobacco users.

  7. ICICI Pru Life Raksha

    • This ICICI prudential life insurance policy can only be purchased for a 5-year term with a regular payment option.

    • No maturity, surrender, or survival benefits are available under the plan.

    • The premiums can be paid on a yearly, half-yearly, or monthly payment mode.

    • Tax benefits will be applicable u/s 80C and 10(10D) of the IT Act, 1961.

    • The minimum and maximum premium rates will depend on your age and the sum assured.

  8. ICICI Pru Loan Protect

    • This ICICI life insurance policy covers people who have taken a mortgage or any other loan from any financial institution.

    • You can purchase the plan at a fixed or reduced cover per your needs.

    • You can select a policy term that is less than or equal to the loan tenure.

    • You can choose to pay the premiums all in one go or pay them for a limited period of 5 years.

    • You will receive tax benefits under the plan per the prevailing tax laws.

  9. ICICI Pru Loan Protect Plus

    • This ICICI prudential life insurance policy offers comprehensive benefit options and protection against death, accidental death, total and permanent disability, and critical illnesses.

    • You can choose a life cover that is fixed or reduced throughout the policy term.

    • You can pay the premiums in a single lump sum or for a limited period of 5 years.

    • You can pay the premiums yearly, half-yearly, or monthly.

    • The plan offers tax benefits u/s 80C and 10(10D) of the ITA 1961.

  10. ICICI Pru iProtect Supreme

    • Financial security for your family

    • Two plan options to choose from:

      1. With Return of Premium

      2. Without Return of Premium

    • Life Stage Protection feature increases coverage during key events (e.g., marriage, childbirth)

    • 15% lower premiums for women

    • Up to 15% discount for salaried customers on the first year’s premium

    • Optional rider available for accidental death and disability coverage

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ICICI Prudential ULIP Plans

These ICICI Prudential Life Insurance plans are unit-linked insurance plans which help you manage your funds based on your risk appetite. These life insurance products allow you to increase your wealth over time while providing you security against the uncertainties of life.

Plan Name Entry Age Maximum Maturity Age Policy Term
ICICI Pru Signature Online 0 - 60 years 75/99 years 10 - 30, 99 years
ICICI Pru1Wealth 8 - 60 years 70 years 5 - 10 years
ICICI Pru Life Time Classic 0 - 75 years 80 years 10 - 30 years
ICICI Pru Guaranteed Wealth Protector 8 - 70 years 80 years 10 - 12 years
ICICI Pru Smart Kid 20 - 54 years 64 years 10 - 25 years
ICICI Pru Smart Couple Plan 20 - 54 years - 10 - 25 years
ICICI Pru EzyGrow 0 - 55 years 99 years 15 - 40 for RP 99 - age at entry for LP
  1. ICICI Pru Signature Online

    • In this ICICI Prudential life insurance plan, the entire premium you pay is invested in the funds of your choice.

    • The plan returns the mortality and policy administration charges at the plan's maturity.

    • With the plan’s whole life policy, you can gain life cover until the age of 99.

    • The plan offers wealth boosters at the end of every 5 years, beginning at the end of the 10th policy year.

    • With the plan's systematic withdrawal, you can withdraw money regularly from the policy.

  2. ICICI Pru1Wealth

    • This ICICI life insurance policy offers a policy term of either 5 or 10 years.

    • You can invest your premiums in a wide range of 9 fund options.

    • You can switch between funds as many times as you want for free.

    • You can purchase the plan under the Married Woman’s Property Act and secure the corpus for your family.

    • You can get wealth boosters as a percentage of your single premium at the end of the policy term.

  3. ICICI Pru Life Time Classic

    • You have the option of choosing from 4 portfolio strategies.

    • You can select the protection level that fits your needs.

    • This ICICI Prudential life insurance plan offers the option to enhance the base cover with its Accidental Death Rider.

    • You will be eligible for wealth boosters once every 5 years.

    • Tax benefits will be applicable on premiums paid and benefits received.

  4. ICICI Pru Guaranteed Wealth Protector

    • This ICICI life insurance policy offers security from market downturns with its Assured Benefits.

    • You can pay the premiums for a limited or single term.

    • The limited premium payment terms are of 5 or 7 years.

    • The policy rewards loyalty additions and wealth boosters to the policyholders.

    • You can get tax benefits as per the prevailing tax laws.

  5. ICICI Pru Smart Life

    • This ICICI Prudential life insurance plan offers comprehensive protection to protect your goals and waiver of premiums on all future premiums in case of the policyholder’s unforeseen death.

    • You can pay the premiums for a limited period, regular period, or single payment.

    • You can attain loyalty additions and wealth boosters for a policy with a longer tenure.

    • You can select either a fixed portfolio strategy or a lifecycle-based portfolio strategy.

    • Get tax benefits as per the existing tax laws.

  6. ICICI Pru Smart Couple Plan

    • You can choose to invest in any of the 11 available fund options.

    • This ICICI life insurance policy offers liquidity to withdraw after the completion of 5 policy years.

    • Single, limited, and regular premium payment terms are available under the plan.

    • You can get tax benefits under sections 80C and 10(10D) of the Income Tax Act.

    • The available policy terms under the plans are different premium payment terms.

  7. ICICI Pru Ezy Grow

    • This ICICI Prudential Life Insurance policy offers 4 portfolio strategies, and you can choose the one that best fits your risk appetite.

    • You can boost your fund value with a maturity booster.

    • You can choose to receive your maturity benefit as a lump sum or regular payout throughout one to five years.

    • The plan returns mortality and policy administration charges from the 6th year onwards.

    • You can avail of tax benefits under the Government of India IT Act.

ICICI Prudential Retirement and Pension Plans

ICICI Prudential Life Insurance offers you pension plans to secure your future post-retirement. With these plans, you can maintain your financial independence even after the loss of regular income.

Plan Name Entry Age Maximum Vesting Age Policy Term
ICICI Pru Signature Pension Plan 18 - 65 years 60 - 80 years Min: 20 years or 80 minus Age at entry
Max: 62 years
ICICI Pru Guaranteed Pension Plan Flexi 40 - 70 years - Whole life
ICICI Pru Guaranteed Pension Plan (Deferred & Immediate Annuity) 30 - 100 years - -
ICICI Pru Saral Pension 40 - 80 years - Whole life
ICICI Pru Easy Retirement SP 18 - 80 years 90 years 10 - 30 years
ICICI Pru Gold Pension Savings 18 - 70 years 40 - 80 years 10 - 40 years
ICICI Pru Easy Retirement 18 - 70 years 80 years 10 - 30 years
  1. ICICI Pru Guaranteed Pension Plan Flexi

    • This ICICI life insurance policy provides guaranteed pension for life with an option of return of premiums.

    • Various annuity options are available to fit your different post-retirement needs.

    • You can select if you want to receive the pension on a monthly, quarterly, bi-annually, or yearly basis.

    • You get the option of selecting the premium paying term along with when the annuity payments need to start.

    • You can also save more funds with the plan’s ‘top-up’ option.

  2. ICICI Pru Guaranteed Pension Plan

    • This ICICI Prudential life insurance plan offers immediate and deferred annuity options to select your retirement date and receive pensions accordingly.

    • The plan comes with a Return of Premiums (ROP) option for both immediate and deferred annuities whereas without ROP is only available for an immediate annuity.

    • You can select from different annuity payout modes like monthly, quarterly, annually, and bi-annually.

    • You can choose your retirement date from immediate to anywhere between 1 - 10 years.

    • The plan also offers an early return of purchase price from the age of 76 or at 80 years of age.

  3. ICICI Pru Saral Pension Plan

    • You have the option to select the most suitable annuity payout modes like monthly, quarterly, yearly, or bi-annually.

    • This ICICI life insurance policy is only available for immediate annuity options under which you have the option to select single or joint-life annuity.

    • This plan also provides a return of premiums on the death of the policyholder.

    • The policy offers guaranteed lifelong pensions by paying the premium in a single lump sum amount.

    • The plan offers other benefits like High purchase price benefit (HPPB), Online booster, loyalty booster, and Loan facility.

  4. ICICI Pru Easy Retirement SP (Single Premium)

    • This ICICI Prudential life insurance ULIP plan through which you can grow a post-retirement corpus as per your risk appetite over time.

    • This is a single premium plan after which the regular annuity will be paid for the whole life.

    • The plan offers a fixed Assured Benefit which protects your savings from market downturns.

    • You can also invest extra funds in the plan as top-ups.

    • The plan offers guaranteed loyalty additions every year, after the end of 6th policy year.

  5. ICICI Pru Easy Retirement

    • Savings are protected from market downturns through an Assured Benefit.

    • Pay premiums for 5/10 years or throughout the policy term.

    • More money can be invested in this ICICI Prudential Life Insurance plan in the form of top-ups.

    • Option to choose from available annuity options at retirement to receive regular income.

    • Retirement corpus can be enhanced through Pension Boosters.

  6. ICICI Pru Gold Pension Savings

    • Guaranteed Benefits & Bonuses

    • Tax-Free Commutation: Up to 60% of vesting benefit

    • Flexible Cash Withdrawals

    • Free Health Check-Up

    Life Insurer Details

  7. ICICI Pru Signature Pension Plan

    • Market-Linked Returns

    • Tax-Free Commutation: Up to 60% of vesting benefit

    • Flexible Partial Withdrawals

    • Choice of 3 Portfolio Strategies & Diverse Funds

    • Low-Cost Charge Structure: Return of charges at vesting

ICICI Prudential Child Insurance Plans

With ICICI Prudential Child Plans, you can secure your child’s future even in your absence. Through these plans, you can create wealth for your child’s dreams, pay for their higher education, or find their marriage.

Plan Name Entry Age Maximum Maturity Age Policy Term
ICICI Pru SmartKid with Smart Life 20 - 54 years 79 years 10 - 25 years

ICICI Prudential SmartKid with Smart Life

  • You can secure your child’s future while creating a corpus for his/her dreams.

  • This ICICI Prudential life insurance plan offers you the option of 11 different funds so you to choose the one that fits your risk appetite the best.

  • In case of your unfortunate death, all the remaining premiums will be waived off and at maturity, your nominee will receive the fund value to take care of your child’s future.

  • You can choose to pay the premiums in a single-pay, limited-term, or regular term.

  • The plan offers liquidity by allowing you to make withdrawals after the completion of 5 policy years.

ICICI Prudential Traditional Savings/Money Back Plans

These are ICICI Prudential life insurance’s traditional savings or money-back plans that help you save for specific goals in the future while providing financial coverage in case of your untimely demise. These plans offer guaranteed returns and help you manage your money in the long run.

Plan Name Entry Age Maximum Maturity Age Policy Term
ICICI Pru Gold 0 - 60 years 99 years 85 - 99 years
ICICI Pru Sukh Samruddhi 0 - 60 years 85 years 10 - 30 years
ICICI Pru Gift Pro 18 - 60 years 75 years 8 - 17 years
ICICI Pru Guaranteed Income For Tomorrow Long-term 0 - 60 years 101 years 8 - 101 years
ICICI Pru Guaranteed Income For Tomorrow 18 - 60 years 80 years 5 - 20 years
ICICI Pru Savings Suraksha 0 - 60 years 70 years 10 - 30 years
ICICI Pru Assured Savings Insurance Plan 3 - 60 years 72 years 10 - 15 years
ICICI Pru Future Perfect 91 days - 58 years 70 years 10 - 30 years
  1. ICICI Pru Gold

    • This ICICI Prudential Life Insurance plan offers protection under the plan till 99 years of age

    • Receive a combination of guaranteed income and income linked to bonus till 99 years of age

    • You can accumulate or withdraw income or adjust future premiums

    • This ICICI life insurance policy offers guaranteed boosters after every 5 years

    • You will be eligible to receive tax benefits u/s 80C and 10(10D) of the IT Act

  2. ICICI Pru Sukh Samruddhi

    • The plan provides protection to your loved ones in your absence.

    • You can select to avail of the benefits as a lump sum or regular income.

    • This ICICI Prudential life insurance plan’s flexible premium payment and policy terms allow you to pay premiums as per your suitability.

    • You can receive the income at a date of your choice or can withdraw it later after sufficient accumulation.

    • Tax benefits on the premium paid and the benefits received will be applicable as per the prevailing tax laws.

  3. ICICI Pru Gift Pro

    • This ICICI life insurance policy offers financial protection and the option of selecting the guaranteed income 

    • The guaranteed income you choose can stay level or increase every year as per your needs

    • You can select the date of income payout through ‘Save the Date’ option

    • You can withdraw future benefits in advance by converting into lump sum

    • You can claim tax benefits as per the prevailing tax laws

  4. ICICI Pru Guaranteed Income For Tomorrow Long-term

    • This ICICI Prudential life insurance plan provides guaranteed income for 15/20/25/30 years to help you fulfill your dreams.

    • You can choose from 4 different plan options.

    • The plan also offers a return of premium variant, which return 110% of the premiums paid throughout the policy term. 

    • The plan offers liquidity through its loan facility.

    • You can avail yourself of tax benefits under sections 80C and 10(10D) of the Income Tax Act.

  5. ICICI Pru Guaranteed Income For Tomorrow

    • This ICICI life insurance policy protects your loved ones financially in case of your untimely death.

    • From the second year onwards, you can choose to receive the guaranteed income as a lump sum or regular income.

    • The plan offers various premium payment and policy terms along with plan options.

    • You can apply for a loan in case of a financial emergency.

    • The plan's minimum and maximum entry age are 18 and 60 years respectively.

  6. ICICI Pru Savings Suraksha

    • This ICICI life insurance policy pays a Guaranteed maturity benefit at the policy's maturity.

    • A 5% Guaranteed addition will be accrued each year for the first 5 policy years and paid at the maturity of the policy.

    • You can choose the premium payment term, premium payment mode, and policy term as per your preference.

    • The plan offers both limited and regular premium payment variants.

    • You will also be eligible to receive terminal and revisionary bonuses.

  7. ICICI Pru Assured Savings Insurance Plan

    • This ICICI Prudential life insurance policy offers guaranteed additions of 9 or 10% of total premiums paid will be added to your policy benefits.

    • These guaranteed additions depend on your policy term.

    • The guaranteed maturity benefit will be paid in a lump sum at the policy's maturity.

    • You can pay your premiums on an annual, bi-annual, or monthly for a premium and policy term of your choice.

    • You can also avail yourself of tax benefits under sections 80C and 10(10D) of the IT Act.

  8. ICICI Pru Future Perfect

    • You will receive the guaranteed maturity benefits (GMB) at the end of the policy term.

    • You will also be eligible to receive any applicable vested and terminal bonuses at the policy's maturity.

    • This ICICI life insurance policy provides premium payment terms and frequency flexibility.

    • You can select the policy term as per your requirements.

    • The plan allows you to pay your premiums yearly, half-yearly, or monthly.

What are the ICICI Prudential Life Insurance Riders?

Life insurance or term insurance riders enhance your policy by providing additional benefits, such as coverage for critical illnesses or accidental death. They offer financial protection and support for specific risks, ensuring your loved ones are better covered. The ICICI Prudential Life Insurance riders are as follows:

  • Waiver of Premium: The waiver of premium rider keeps your policy active even if you can't pay premiums; future premiums are waived, but benefits continue.

  • Critical Illness Rider: This critical illness rider provides coverage for specific critical illnesses (e.g., cancer, heart attack) for an additional fee; the funds can be used for medical and household expenses.

  • Accidental Death Rider: The accidental death benefit rider pays up to double the sum assured to your beneficiary if you die in an accident.

  • Permanent & Partial Disability Rider: The accidental total and permanent disability rider offers a sum assured for a set period if you're disabled due to an accident; future premiums are waived.

  • Income Benefit Rider: Provides regular income to your family in case of your sudden death or any physical disability.

How to View/Download the Policy/Unit Statements or ICICI Life Insurance Policy Details? 

The ICICI policy statement is a document that tracks every transaction that happens with the funds in the ULIP. It shows the records of your premium along with your insurance plan summary. This should help you make an informed decision about further investments. 

The ICICI policy statement can be availed by writing to lifeline@iciciprulife.com 

You can also download the ICICI policy details and make an online premium payment by entering details such as the policy number, mobile number, email ID, and Date of Birth. 

What is the ICICI Prudential Life Insurance Claim Settlement Process?

Following are the 3 steps in which Prudential Life Insurance settles your claims:

  • Intimation: You can report your claims online, at the company branch, via SMS, email, or the central ClaimCare helpline.

  • Document Submission: Submit relevant documents for the insurance company to evaluate and inform you regarding the same.

  • Processing and Settlement: After all the relevant documents are attached and the claim is initiated, the company will settle your ICICI Prudential Life Insurance claim.

What are the Documents Required for ICICI Prudential Life Insurance Claim Settlement Process?

Here are the documents required for the ICICI Prudential Life Insurance Claim Settlement Process:

Death Types Documents Required
Mandatory Documents 
  1. Original documents of the policy
  2. Death Claim Form
  3. Cancelled Cheque with NEFT details
  4. Nominee/Claimant’s ID and Address Proof
Additional Documents Required: 
In case of Medical//Natural deaths
  1. Consulted Doctor’s Statement 
  2. Certificate of the hospital treating the deceased policyholder
  3. Employer Certificate or Educational Institute Certificate of Policyholder
  4. Additional treatment/hospital/ records
In case of accidental/unnatural deaths
  1. Police Reports (Panchnama, FIR, Police Investigation Report, Charge sheet)
  2. Autopsy/Post Mortem report (PMR) and Viscera Report

Once all the necessary documents are received, the claim will be marked as submitted. The claim decision time will then be calculated according to the guidelines set by the Insurance Regulatory and Development Authority of India (IRDAI) under the Policyholders’ Interests (PPHI) Regulations 2017.

How to Report/Submit Claim Request at ICICI Prudential Life Insurance?

Here’s a simplified list of how to report or submit a claim request at ICICI Prudential Life Insurance:

  • Visit the claims section of the ICICI Prudential website for online claim submission.

  • Call the 24x7 ClaimCare number: 1800 2660

  • Email your claim to claimsupport@iciciprulife.com 

  • Send an SMS with "ICLAIMPolicy No" to 56767

  • Visit your nearest ICICI Prudential Life Insurance branch for assistance

How To Buy ICICI Prudential Life Insurance Online in 2023?

You can buy ICICI Prudential Life Insurance plans online through the following steps:

  • Step 1: Go to Policybazaar’s official website and click on ‘Life Insurance’.

  • Step 2: Fill in the required details like name, gender, phone number, and email ID

  • Step 3: Click on ‘View Plans’ to see the available plans

  • Step 4: Submit the details about your smoking habits, educational background, occupation type, and annual income

  • Step 5: Select the insurer as ICICI Prudential Life Insurance in the filter and select the other policy details as per requirements

  • Step 6: Choose the most suitable ICICI life insurance plan and proceed to pay

*Note: It is advised to firstly know what is term insurance and then buy the ICICI prudential term insurance plan.

Documents Required To Buy an ICICI Life Insurance Plan

Here is a list of all the documents required to buy an ICICI Life insurance plan:

  • Last 3 months’ salary slips

  • Last 3 year’s IT tax returns 

  • Last 6 months’ salary bank statements

  • Age proof

  • Passport size photograph

  • Medical reports

  • Last form 16

  • Most recent salary certificate from the employer

  • ID and Address proof

How to Download ICICI Prudential Life Insurance Receipt?

You can download ICICI Prudential Life Insurance or ICICI Term Insurance Receipt in just a few clicks from ICICI Prudential Life Insurance official website. Follow the steps mentioned below:

Step 1: Go to the ‘Premium Receipt’ portal of ICICI Prudential Life Insurance

Step 2: Enter Your Details like Policy Number OR Mobile Number OR Email ID

Step 3: Enter your DoB

Step 4: Enter the Unique Captcha 

Step 5: Click on ‘Proceed’

How to Contact ICICI Prudential Life Insurance Customer Service?

You can contact ICICI Prudential Life Insurance customer service in the following ways:

  • On Call: You can call ICICI Prudential Life Insurance customer service on 1800 2660 ( 10:00 am to 7:00 pm, Monday to Saturday, except national holidays) for assistance related to premium payment receipt or any other doubt/query
    NRI customers can call the ICICI Prudential Life Insurance Customer Service Helpline at +91 80693 85555, available 24x7 except on national holidays.

  • On Email: You can email ICICI Prudential Life Insurance at lifeline@iciciprulife.com for assistance regarding your ICICI Term Insurance receipt or any other query.

How To Contact Policybazaar To Buy ICICI Prudential Life Insurance?

You can contact Policybazaar with the help of these helpline numbers to buy ICICI Prudential Life Insurance:

  • To Buy a New Policy: Call Policybazaar's helpline at 1800-208-8787

  • For Help Regarding Existing Bookings: Call Policybazaar’s helpline at 1800-258-5970

  • Claim Assistance Helpline: Call Policybazaar's helpline at 1800-258-5881

    *Note: You can also manage your claims conveniently by logging into 'My Account' on the Policybazaar website

  • Policybazaar App: Download the Policybazaar app for quick customer support. You can address any insurance-related questions directly through the app.

*Note: You can always contact Policybazaar Insurance Advisor for any assistance or to clear doubts and confusion.

What are Some DOs and DON’Ts Related to Buying ICICI Prudential Life Insurance Policy?

Here are some DOs and DON’Ts related to buying an ICICI Prudential Life Insurance Policy:

DOs DON’Ts
Read and understand the policy details. Don’t rush into a decision related to life insurance.
Assess your insurance needs carefully. Don’t ignore the premium payment terms.
Compare different plans and riders. Don’t overlook exclusions and limitations.
Consult with a financial advisor if needed or before buying a plan. Don’t misplace your policy documents.
Keep your beneficiaries updated. Don’t forget to review your policy regularly.
Use online tools for premium calculation, like Policybazaar’s term insurance calculator. Don’t base your decision solely on price.

FAQs

  • Q: What types of insurance plans does ICICI Prudential Life Insurance offer?

    Ans: ICICI Prudential Life Insurance offers various plans, including term insurance, endowment plans, ULIPs, retirement plans, and child plans.
  • Q: Are there discounts available on premiums of ICICI Prudential Life Insurance?

    Ans: Yes, ICICI Prudential Life Insurance offers a lifetime discount of 15% on premiums for female customers and an additional 15% discount on the first year's premiums for salaried women.
  • Q: How can I manage my ICICI Prudential Life Insurance policy online?

    Ans: Customers can use the ICICI Prudential Life Insurance Login Portal to pay premiums, update personal information, and track claims conveniently.
  • Q: What is the minimum and maximum age for entry into ICICI Prudential term plans?

    Ans: The entry age for term plans ranges from 18 to 65 years, depending on the specific plan.
  • Q: Can I get a return on premiums paid in ICICI Prudential Life Insurance plans?

    Ans: Yes, some ICICI Prudential Life Insurance plans, such as the ICICI Pru iProtect Return of Premium, offer the benefit of returning premiums at the end of the policy term if no claim is made.
  • Q: What should I consider before buying an ICICI Prudential Life Insurance policy?

    Ans: Assess your insurance needs, compare different plans, and carefully read the policy terms and conditions, including exclusions and limitations.
  • Q: How long can I keep my ICICI Prudential Life Insurance policy active?

    Ans: The maximum maturity age varies by plan, typically up to 99 years for certain term plans.
  • Q: What happens if I miss an ICICI Prudential Life Insurance premium payment?

    Ans: ICICI Prudential Life Insurance policies have a grace period for missed payments, but it’s essential to check specific terms for each plan regarding coverage and reinstatement.
  • Q: Is ICICI Prudential Life Insurance a reliable insurer?

    Ans: Yes, ICICI Prudential Life Insurance is well-established, having received numerous accolades and is recognized as one of India's leading life insurers.
  • Q: What is the Claim Settlement Ratio (CSR) of ICICI Prudential Life Insurance?

    Ans: The CSR of ICICI Prudential Life Insurance for FY 2023-24 is 99.17%, indicating a high success rate in settling claims.
  • Q: What riders are offered by ICICI Prudential Life Insurance?

    Ans: ICICI Prudential Life Insurance riders include Waiver of Premium, Critical Illness Rider, Accidental Death Rider, Permanent & Partial Disability Rider, and Income Benefit Rider.
  • Q: What is the claim settlement process in ICICI Prudential Life Insurance?

    Ans: The ICICI Prudential Life Insurance claim settlement process involves Intimation, Document Submission, and Processing & Final Settlement.
  • Q: What documents are needed for claim settlement in ICICI Prudential Life Insurance?

    Ans: The policy, Death Claim Form, and ID proof are mandatory documents required in ICICI Prudential Life Insurance claim settlement. Depending on the type of death, additional documents may be required.
  • Q: How can I report a claim in ICICI Prudential Life Insurance?

    Ans: ICICI Prudential Life Insurance claims can be reported online, via phone (1800 2660), email, SMS, or by visiting a branch.
  • Q: How do you buy ICICI Prudential Life Insurance online?

    Ans: To buy an ICICI Prudential Life Insurance policy online, visit Policybazaar’s official website, fill in the details, choose a plan, and complete the payment process.
  • Q: What documents do I need to purchase an ICICI Prudential Life Insurance policy?

    Ans: Salary slips, tax returns, ID proof, age proof, and medical reports are required documents to buy an ICICI Prudential Life Insurance plan.
  • Q: How to download the premium receipt of the ICICI Prudential Life Insurance policy?

    Ans: Go to the ‘Premium Receipt’ portal, enter your details, and click ‘Proceed’.
  • Q: How do you contact customer service for ICICI Prudential Life Insurance?

    Ans: Call 1800 2660 or email lifeline@iciciprulife.com for assistance.
  • Q: How to contact Policybazaar for ICICI Prudential Life Insurance?

    Ans: Call 1800-208-8787 for new policies or 1800-258-5970 for existing bookings.
  • Q: What are the benefits of buying term insurance?

    Ans: Here are 4 common term insurance benefits:
    • Low premium rates
    • Tax Benefits
    • Death Benefit
    • Long term coverage
  • Q: What are the services offered by ICICI Life Insurance?

    Ans: ICICI Life Insurance offers services such as:
    • Auto-Debit
    • Pay Renewal Premium
    • Health Declaration
    • Tax Premium Paid Certificate
    • Check ICICI Term Insurance Premium
    • Digital Verification
    • Top-up
    • Switch Funds
    • Policy Statements
  • Q: How to pay ICICI Prudential Life Insurance premium online?

    Ans: To pay your ICICI Prudential Life Insurance premium online:
    • Step 1: Enter your details: Policy Number OR Mobile Number OR Email ID AND Date of Birth
    • Step 2: Enter the Unique Captcha.
    • Step 3: Click on "Pay Now."
  • Q: How to View/Download ICICI Prudential Life Insurance Premium Receipt?

    Ans: To view or download your ICICI Prudential Life Insurance premium receipt:
    • Step 1: Enter your details: Policy Number OR Mobile Number OR Email ID AND Date of Birth *
    • Step 2: Enter CAPTCHA.
    • Step 3: Click on "PROCEED."

ICICI Prudential Life Insurance - Latest News

  • ICICI Prudential Life Insurance Company Reports 25.1% Growth

    ICICI Prudential Life Insurance Company recently released audited financials for the quarter ending 31st December, 2017. The disclosure of audited financial results was made following the meeting of company’s board of directors held in Mumbai on 19th January, 2018.

    The financials results presented to the exchanges reveal that ICICI Life Insurance Company registered an increase of 82.2% in VNB (Value of New Business). This increase, for 9M-FY2018, was in the tunes of Rs 7.67 billion, whereas VNB for 9M-FY2017 was Rs 4.21 billion.ICICI Prudential Life Insurance Company reported a year-on-year APE (Annual Premium Equivalent) of 25.1%. The savings APE increased in the tunes of 24.9% and protection APE registered a 32.2% growth on year-on-year basis. In addition, on a RWRP basis, the market share of the insurer was reported to be 13.1% for 9M-FY2018.

    Additionally, for 8M-FY2018, the 13th month persistency rate increased to 86.7% and 49th month persistency rate increased to 61.8%. For 9M- FY2017, the 13th month persistency rate was 83.5% and 49th month persistency rate was 60.2%. Looking at the financial growth of ICICI Prudential Life Insurance Company, it would be interesting to see if the company decides on passing the benefits to its customers and patrons by the way of new, and lucrative investment opportunities.
  • Life Insurance is One’s Primary Need, says ICICI Prudential Life Insurance Official

    Over the past a few years, affordable term life insurance plan have gained considerable buyers due a high-value proposition, whereas these plans are not as popular as the others. The executive vice president of ICICI Prudential Life Insurance, Mr. Sandeep Batra, said that that company has been primarily focusing on this particular category of life insurance, thereby aiming at creating consumer awareness about the least appreciated plans that offer high protection to customers. The ICICI Prudential Life Insurance official also said that one must opt for term life insurance plans while planning the security of their family. The policy must offer comprehensive protection with an assured focus on building savings for life. Another key point that one has to have in mind is that that insurer has a consistent claim settlement ratio over the years.
  • ICICI Prudential MF Introduces India Recovery Fund

    ICICI Prudential Mutual Fund recently launched the Series 4 of the India Recovery Fund, which is a close-ended equity fund and has the aim to provide increased capital holdings through invests in equity-related securities as well as equity. Such equity investments are likely to grow even faster with future recovery and further growth in the Indian economy. Mr. Nimesh Shah, Managing Director and CEO, ICICI Prudential Mutual Fund, said that equity markets in India have corrected in January 2016, giving a reflection of the global reviews on the prices of crude oil as well as on the advancements in China. This correction led by all these non-fundamental reasons is nothing but an opportunity that enables allocating towards the equities of India, especially in the large-cap space. These large-caps have well-established business models and these companies have set up the benchmark of management teams. In contrast, in absolute terms, these ratings are cheap in reference to mid-caps, as per the company.
  • ICICI Prudential Acquires 5.22 Lakh Shares of Mahindra Lifespace

    ICICI Prudential Life Insurance Company Limited on Friday, 24th February 2016, bought 5, 22,000 shares of Mahindra Lifespace Developers at a price of Rs. 469.91, in which 2, 69,026 shares sold by Ashish Dhawan at a price of Rs. 469.86. Later on Wednesday, Mahindra Lifespace Developers ended down 3.05 percent or Rs. 14.35 on the NSE, at Rs. 455.67. In February 2015, the share price went high at Rs. 581.20 and went down in June 2015 at Rs. 401.00. The TTM (trailing 12-month) stood at Rs. 25.50 per share in December 2015, whereas the P/E (price-to-earning) ratio stood at 17.96. However, the company has its most recent book value standing at Rs. 322.47 per share. At the current book value, the company had its price-to-book value standing at 1.42 while the 2.62 percent was the dividend yield. ICICI Prudential has its capital infused at Rs. 48.16 billion. The company has been successful in maintaining its dominance over the private insurers across India.
  • ICICI Prudential Life Insurance to stop selling policies in select localities

    Due to some recent fraudulent claims reported in small towns of Gujarat and Odisha, ICICI Prudential Life Insurance Company has instructed its agents to stop selling policies in about 60 localities of the states. In order to completely stop any further fraudulent claiming, several local hospitals have also been barred from selling the policies to the residents of the areas. Some serious administrative lapses, that were intentionally done, have also been discovered in a few medical centres. The company has lately discovered the same and also estimated that the activities have caused heavy losses to the insurance industry. To prevent the same from happening in future, the insurers have put the involved medical centres on the 'watch list'. Medical centres such as Bhagalpur, Begusarai, and Darbhanga in Bihar; and Moradabad and Meerut in Uttar Pradesh have been blacklisted by the insurers. Additionally, the negative location list includes some more centres, such as Kurnool, Vishakhapatnam, and Guntur in Andhra Pradesh are in the negative location list.
  • Stake Sale in ICICI Life Insurance Joint Venture

    ICICI Bank recently reported a net profit of Rs. 3,018 crore for the third quarter of the FY’15-16, which at the same time in FY’14-15 was registered Rs. 2,889 crore by the largest lender throughout the private sector. This net profit of the Q3 ended December 31st last year includes a gain of 4% stake in the life insurance segment, which the company has already sold to Premji Invest. The company had more deals too, including 2% stake in the insurance venture with an investment vehicle of the government of Singapore, namely Temasek and 9% stake in the general insurance with Fairfax Financial Holdings of Canada. Once this venture will get the clearance from FIPB (Foreign Investment Promotion Board), it will be fetching another sum of Rs. 2100 crore. Chief Executive and Managing Director of ICICI Bank, Chanda Kocchar, gave credit to the asset quality review by Central Bank following instructions, which resulted in 60% growth in company’s gross NPA.
  • Paytm to Partner with ICICI Group for Insurance and Banking Co-ventures

    The digital wallet with its eCommerce portal, Paytm is looking forward to partnering with India’s leading banking and insurance companies, including ICICI Group (ICICI Lombard, ICICI Bank, and ICICI Prudential Life Insurance), Citibank and more. While in the mutual fund domain, Paytm is in constant touch with IIFL and SBI Mutual Fund since it in the final phase of partnering with multiple banking and insurance companies of India, including the mutual fund partners. Paytm recently partnered with ICICI Bank, aiming at letting its wallet users make both online and offline purchases using its virtual cards. After this tie-up, Paytm users can recharge their digital wallet at any ICICI bank branch through or cheque. Paytm’s founder is one among top 11 people in India to take RBI’s permission to build such a payments bank while he had expressed his strong desire to reach the top of the list.
  • ICICI Prudential Life Insurance shows the fastest growth in business

    Although 2015-16 FY saw a volatile environment in business the insurance agents marked an incremental growth in premium income for the year. These private insurance service providers showed an increased Adjusted Premium Equivalent of 14% (Y-o-Y) of 24,112 crores for the year, giving a growth in the APE(Adjusted Premium Equivalent) of 12% Y-o-Y i.e. approx 52,000 crores for the year. ICICI Prudential Life Insurance closed its FY 2014-15 with the fastest growth of 41% and market a 10% growth in 2015-16. As per the observations, this dip is also because of a 12% Y-o-Y downsize of the tickets in their business. Though, notably, the product mix did not change the share of unit-linked insurance plans in the overall APE to 83% in the initial 9months of FY 2015-16 which was 86% in FY 2014-15. ICICI Prudential Life Insurance owns a good share in the business of unit linked plans.


Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

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ICICI Prudential Life Insurance Reviews & Ratings

4.4 / 5 (Based on 212 Reviews)
(Showing Newest 10 reviews)
Shri
Delhi, July 22, 2024
Concise Information
I appreciated the clear, concise information and the ability to compare multiple policies.
Ravi
Uttar Pradesh, July 22, 2024
Thanks PB
Found the perfect policy for my needs without any hassle, Thanks PB
Samir
Maharashtra, July 22, 2024
Quick Response
Excellent service and quick response from customer support.
Pramod
Uttar Pradesh, July 22, 2024
Informed Decision
The transparency and the detailed information of the pb website which made it easy to make an informed decision.
Mukesh
Rajasthan, July 22, 2024
Policy Buying Experience
The entire purchase process was seamless, and I received my policy documents almost immediately.
Surendra
Andhra Pradesh, July 22, 2024
Good Filters
On the website the filters allowed me to narrow down my options quickly, and I found a policy that offered comprehensive coverage at a reasonable price.
Raju
Uttar Pradesh, July 22, 2024
Trusted and Reliable
I purchased Bajaj e touch and have found not only the premiums to be highly affordable from policybazaar but the brand and its help really reliable as well.
Bhagwati
Gujarat, July 22, 2024
Comprehensive and Detailed
Comprehensive and detailed information helped me choose an ICICI life term plan for my family at really low cost.
Dipendra
Maharashtra, July 22, 2024
Simple and Detailed
Simple and detailed process with Policybazaar helped me choose Aegon with confidence.
Aman
Madhya Pradesh, July 22, 2024
Easy and User Friendly
Easy and user friendly platform on Policybazaar helped me pick Tata AIA for its comprehensive coverage.
Current Version
Oct 19, 2024
Written By
Rhishabh Garg
Reviewed By
Santosh Agrawal
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