Description
Company Profile, Hestory and Growth upto 2009
Company LOGO
ICICI Prudential Life Insurance
-- Presented to Prof. Sachin Nachnani
Group Members
Khushbu Dedhia…………8114 Khyati Dedhia…………….8115 Mustak Deraiya…………..8167 Manan Desai………………8168
www.company.com
Company LOGO
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Company LOGO
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Company LOGO
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Company LOGO
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Company LOGO
ICICI has taken initiatives to start micro insurance under its parent company's Micro-finance scheme.
www.company.com
Company LOGO
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Company LOGO
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Company LOGO
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Company LOGO
www.company.com
Company LOGO
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Company LOGO
OVERVIEW
•
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential. Total capital infusion stands at Rs. 47.80 billion, with ICICI Bank holding a stake of 74% and Prudential plc holding 26%. In 2008 their nation-wide team comprises of 2074 branches (inclusive of 1,116 microoffices), over 225,000 advisors; and 7 Bancassurance partners. At present, the company has 2100 branches including micro offices, around 290,000 advisors and 18 Bancassurance partners. The co. also has one of the largest distribution networks amongst private life insurers in India. ICICI Prudential has been voted as India's Most Trusted Private Life Insurer, by The Economic Times - AC Nielsen ORG Marg survey of 'Most Trusted Brands'. ICICI Prudential is the first life insurer in India to receive a National Insurer Financial www.company.com Strength rating of AAA (India) from Fitch ratings.
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Company LOGO
FINANCIALS
• • • • • •
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ICICI Pru. Life's capital was Rs.37.72 billion (as on March, 2008). The co. garnered a total premium (new business plus renewal) of Rs 9,918 cr for the 9-m period ended Dec.31,2008 (9MFY09) as against Rs 7,758 cr during the corresponding period last year i.e. in 2007, registering a growth of 28%. The renewal premium showed a strong growth of 75%, and stood at Rs 5,427 crore for 9MFY2009. Its market-share stood at 11.8%, for 10-month ended Jan 31, 2009, making it the leading private life insurance player. As on Jan 31’09, the co’s assets under mgmnt. (AUM) stood at Rs 28,515 crore. They currently have over Rs. 46,000 cr (as on Aug 31, 2009) in AMU & are one of the top fund managers in the country They are capitalized at Rs. 4,780 cr (as on Apr 30,2009) making one of India's highest capitalized companies across sectors. Since inception, ICICI Prudential Life has sold over 90 lakh policies.
www.company.com
Company LOGO
FINANCIALS
Q1-2009 (Rs. In bln.) 30.88 269.67 14.5% Q1-2010 (Rs. In bln.) 28.44 430.35 11.6%
ICICI LIFE Total Premium AUM Expense ratio
www.company.com
Company LOGO
PRODUCTS
www.company.com
The table below gives a general guide to the plans that
Company LOGO
are appropriate for different life stages.
Life Stage Young & Single Young & Just married
Life Insurance Product Wealth creation plans Wealth creation and mortgage protection plans
Married with kids Middle aged with grown up kids
Across all life-stages
Education insurance, mortgage protection & wealth creation plans
Retirement solutions & mortgage protection
Health Insurance
www.company.com
Company LOGO
PRODUCTS
It offers wide range of insurance products for individuals and groups. It offers list of insurance products under following categories: 1. Educational Insurance Plan 2. Wealth Creation Plans 3. Premium Guarantee Plan 4. Protection Plans 5. Retirement Plans 6. Health Plans 7. Group Plans 8. Rural Plans 9. Micro Insurance Plans
www.company.com
Company LOGO
TRADITIONAL PRODUCT
• • • • • •
ICICI Pru Pure Protect is a flexible and affordable term product, with which you can ensure your life and provide total security for your family in case of an unfortunate event. ICICI Pru LifeGuard is a protection plan, which offers life cover at low cost. It is available in 2 options –level term assurance with return of premium & single premium. SmartKid plans are also available in traditional form. ICICI Pru ForeverLife is a traditional retirement product that offers guaranteed returns for the first 4 years. ICICI Pru Immediate Annuity is a single premium annuity product that guarantees income for life at the time of retirement. It offers the benefit of 5 payout options. ICICI Pru Life Time Super Pension: is especially designed to help you systematically save towards a joyful and satisfying retirement
www.company.com
Company LOGO
TRADITIONAL PRODUCT
ICICI Pru Pure Protect
• • • •
It is a flexible and affordable term insurance plan. It is specially designed to provide the customers with the option of availing an life cover and provide financial security to their dependents at unfortunate event. The plan is available in two variants: Pure Protect Classic & Pure Protect Elite The insurance protection at one of the lowest rates in the market with premium starting from as low as Rs.2,400/- per annum. This product is specially designed to provide customers with the option of an availing an insurance cover and provide total security to their dependents in case of an unfortunate event.
www.company.com
Company LOGO
TRADITIONAL PRODUCT
ICICI Pru Pure Protect
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Policy Details– Age at Entry- 18 to 65 years. – Age at maturity- Up to 75 years. – Term- 10 to 30 years.
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– Sum Assured- Up to Rs.25 Lakh for classic & Rs.25 Lakh & above for Elite. – Premium Payment Option- Annually, Half Annually and Monthly.
Features and Benefits-
– Guaranteed death benefits of total sum assured is payable to the
beneficiary.
– Additional protection with accidental and death benefits rider & waiver of
premium rider.
– Tax benefit under section 80C and 10(10D) of income tax act.
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Company LOGO
TRADITIONAL PRODUCT
Money back Plan
•Plan Name •Type of Risk Cover •Maximum Premium •Min Sum Assured •Max Sum Assured •Min Term •Max Term
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Cash Back Life Cover with Survival and Maturity benefits 20 yrs 75000.00 No Bar 15 yrs 20 yrs
Company LOGO
TRADITIONAL PRODUCT
Money back Plan
Features : • Fixed-term insurance plan that provides with funds at regular intervals. • Available in 15 year and 20 year terms. • 70% of Sum assured payable as Cash-back at different stages of policy term. • Maturity benefit @ 50% of the Sum assured along with guaranteed additions, for the first 4 years, and vested bonuses (if any). • Available with optional Critical illness Rider, Accidental Death & Disability Benefit Rider. • Tax exemptions under Sections 80C and 10(10D) of the Income Tax Act, 1961.
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Company LOGO
NON-TRADITIONAL PRODUCT
Life Stage Pension
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One of the most distinguishing features of this policy is that it has no premium allocation charge for regular premiums which means 100% of your money is invested. • The policy provides you with a unique lifecycle-based strategy that continuously redistributes your money across various asset classes based on your life stage and risk tolerance, eventually providing you with a customized retirement solution. Pension at glance Minimum/Maximum Entry Age 18 years to 70 years Maximum Cover Ceasing Age 80 years Minimum/Maximum Policy Term 10 years to 62 years Minimum/Maximum Vesting Age 50 years to 80 years Premium Payment Frequency Monthly, half-yearly, yearly Minimum Premium Rs. 15,000 p.a. Tax Benefit Under Section 80CCC
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Company LOGO
NON-TRADITIONAL PRODUCT
Life Stage Pension
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Key Benefits of LifeStage Pension Option to choose a unique and personalised lifecycle based portfolio strategy to create ideal balance between Equity and Debt. · This plan invests 100% of your money in the portfolio of your choice. Enjoy the flexibility to choose from 5 pension options through which you can receive your pension. Opportunity to earn potentially higher returns by investing in Unit Linked Funds. . This plan would be the best fit for your financial and protection requirement
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
ICICI Educational Insurance Plan
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This plan is the complete solution for your child’s future. This plan is available in three variants1. Smartkid New Unit Linked Regular Premium
2. Smartkid New Unit Linked Single Premium 3. Smartkid Regular Premium
These plans insures that money is provided at the important stages of child’s education like board exam, graduation & post graduation.
BenefitsGuaranteed sum assured is paid. Future premiums are paid by company till maturity of the plan and your family is free from financial burden.
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Tax benefits as per income tax rule. Additional rider plans are available.
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
ICICI Pru Smartkid New Unit Linked Regular Premium
ICICI Pru Smartkid New Unit Linked Regular Premium is a fixed term insurance plan that provides guaranteed educational benefits to child along with life insurance protection for the parent. • Policy at Glance – Age at Entry- 20-60 years (Parent) and 0-15 years (Child) – Age at Maturity-70 years (Parent) and 19-25 years (Child) – Policy Term- 10-25 years – Sum Assured-Minimum Rs.1Lakh – Premium Mode-Annually, Half Annually and Monthly.
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Company LOGO
NON-TRADITIONAL PRODUCT
ICICI Pru Smartkid New Unit Linked Regular Premium
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Features In the unfortunate event of death of the parent during the term of the policy, the sum assured is paid out immediately. The future premiums towards the policy will be paid by the company. Maturity benefits of fund value is payable at end of the policy term. 8 investment funds that suits to investment needs. 4 free switches during policy year. The min. switching amt. is Rs.2000/Top up facility to increase your investment. The minimum top up amount is Rs.2000/Additional protection by riders like Income Benefit Rider, Accidental Death and Disability Rider and Waiver of Premium Rider. Tax benefit under section 80C and 10(10D) of the income tax act. www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
ICICI Pru Life Time Gold
ICICI Pru Life Time Gold is regular unit linked insurance plan that offers potentially higher returns through multiplier fund. It provides flexibility over the life and gives the right balance between protection and saving. • Policy at Glance – Age at Entry-0 to 65 years – Maturity Age- 75 years. – Policy Term-10 to 75 years. – Sum Assured- Min. Rs.1,00,000/– Premium Payment Mode-Annually, Half Annually and Monthly.
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Company LOGO
NON-TRADITIONAL PRODUCT
ICICI Pru Life Time Gold
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Features and Benefits– Maturity benefits of the fund value is payable to the policy holder. – Death benefits of higher of sum assured or fund value is payable to the nominee. – Systematic withdrawal of money from fourth policy year. – 4 free switches in a year. – Option to choose from 7 different investment funds. – Tax benefit under section 80C, 80D and 10(10D) of income tax act.
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
ICICI LifeLink Super
It is a single premium unit linked insurance policy that’s combining with both life insurance needs and investment. It is a best suited plan for those individual who wish to invest a larger amount and earn higher returns over a period.
•Policy at Glance- Entry Level Age-0 to 65 years - Maturity age- Maximum up to 70 years - Policy Term- Minimum 5 years - Sum Assured-125% or 500% of the single premium - Payment Mode-Single
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Company LOGO
NON-TRADITIONAL PRODUCT
ICICI LifeLink Super
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Features and Benefits -
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100% allocation for premium amount above Rs.5Lakh. Death benefits of the higher of sum assured or fund value is payable to the beneficiary in case life assured dies during the policy term. Survival to the maturity life assured will receive the fund value with choices of various payment mode. Various fund options of equity, debt, balanced, money market and cash.
Four switches in a year at no extra cost.
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Partial withdrawal is allowed after 4th policy year. Tax benefit under section 80C and 10(10D) of income tax act.
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
Capital guarantee - ICICI Invest Shield Cash Back Plan
It is a unit linked plan that provides premium guarantee while maintaining a balance between return, safety & liquidity.
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if your investment turns negative it promise you to pay at least what you have invested. But because of this feature this plan has so many restrictions. Only one fund option is available and which invest entire amount in to Debt and Money Market and hence the risk is very low but at the same time return will also be low. There is no switching facility as only one fund option is available.
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Min/Max Entry Age 0/65 years Min/Max Age of Maturity 19/75 years Min/Max Term 10-30 years Minimum Premium Rs 8000 P/A Min. Sum Assured Annual Premium * Term/2 Premium Guarantee: Total premium paid till date minus amount withdrawn www.company.com partially is guaranteed on maturity.
Company LOGO
NON-TRADITIONAL PRODUCT
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Death Benefit- On death of the policy holder, nominee will receive the sum assured with the higher of the unit fund value or guaranteed value of unit fund. This is the most important feature of this plan as nominee would not only receive Sum Assured but also the Guaranteed Value or Fund value. Maturity Benefit- Survival value is paid to the policy holder at the end of policy term. The maturity benefit will be the higher of fund value or guaranteed value of unit fund. Liquidity Options- Partial withdrawals can make from 6th year onwards. One partial withdrawal is permitted in a year till the end of the policy term. And option to withdrawing up to 10% of the value of units from unit funds. Tax Benefits- Premium paid are eligible for tax deduction u/s 80C. Maturity and death benefits are deductible u/s 10 (10D)
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Company LOGO
COMPARISON MAP
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Company LOGO
COMPARISON MAP
ICICI PRUDENTIAL LIFE INSURANCE RELIANCE LIFE ? ? Innovative product offerings strengthening product portfolio
CATEGORIES Products
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High product innovation Presence in all product segments Multi stage/life
multi-level distribution trained agency force strong Bancassurance partnerships brand acceptance strong management focus Established distribution channel more susceptible to losing market share to new players
Distribution
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Still building on distribution channel
Key strengths
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aggressive management growing distribution
Concerns
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growing Bancassurance partnerships
ICICI LIFE
Q1-2009 (Rs. In bln.) 30.88 269.67
Q1-2010 (Rs. In bln.) 28.44 430.35
RELIANCE LIFE Total Premium AUM
Q1-2009 (Rs. In bln.) 7.5 82.9
Q1-2010 (Rs. In bln.) 9.0 39.1
Total Premium AUM
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Company LOGO
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Company LOGO ICICI Policy Features Life Stage Pension RELIANCE Golden years Plan
Minimum Premium
Rs.15000. Per Annum
Rs.10000.Per Annum
Min & Max Policy Term
10 yrs & 62 yrs
5 yrs & onwards
Min & Max age at Entry
18 yrs & 70 yrs
18yrs & 65 yrs
Min. & Max Vesting age
50 Yrs & 80 yrs
45 yrs & 70 yrs
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Company LOGO
Switching allowed
4 switches
only 1 switch
Min. Switching Amount
Rs.2000.
Rs.2500
Switching Charges
Rs.100 Rs.2000.onwords, 90% will be allocated to the fund Available free of cost
1% of amount Switched, MaxRs.1000 Rs.2500, 90% will be allocated to the fund NIL
Min. Top Up Amount
Automatic Transfer Fund
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Company LOGO
Death Benefit
No Life Insurance Cover. However,in the event of death, the Spouse receives the fund value Available, Charges will be automatically deducted from Fund Value Option to receive 1/3 Amount at the vesting date. Tax free a- Life Cycle based portfolio strategy b- Fixed Portfolio strategy
No Life Insurance Cover. However,in the event of death, the Spouse receives the fund value
Cover Continuence option
Available, Charges will be automatically deducted from Fund Value
Commutation of Pension Fund
Option to receive 1/3 Amount at the vesting date. Tax free
Choice of Portfolio Strategy
NIL b- Fixed Portfolio strategy
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Company LOGO
8 funds depending upon Risk and Return Nil Rs.15000-Rs.34999.0.5% p.m. Rs.35000-Rs.99999.0.35%p.m. Fund Management Charges Tax Benefit Surrender Value 2.25% to 0.75% U/S 80ccc 1yr to 3yr-not allowed 4th yr-90% of Fund Value 5th yr-94% 10th yr onwards 100%
Investment Options Premium Allocation Charges Policy Administration Charges
8 funds depending upon Risk and Return 1st yr 10%, 2nd yr onwords 5% NIL NIL For Growth Fund-1.75%, and others-1.5% U/S 80ccc 1yr to 3yr-not allowed
4th yr-90% of Fund Value 5th yr-95% 6th yr onwords-100%
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Company LOGO
GROWTH SCENARIO
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Company LOGO
ULIP GROWTH
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Company LOGO
ULIP GROWTH
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Company LOGO
SOURCE
www.icicipru.com Reliance Life website Business standard & Financial Express www.clickindia.com
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Company LOGO
THANK YOU
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doc_907598602.ppt
Company Profile, Hestory and Growth upto 2009
Company LOGO
ICICI Prudential Life Insurance
-- Presented to Prof. Sachin Nachnani
Group Members
Khushbu Dedhia…………8114 Khyati Dedhia…………….8115 Mustak Deraiya…………..8167 Manan Desai………………8168
www.company.com
Company LOGO
www.company.com
Company LOGO
www.company.com
Company LOGO
www.company.com
Company LOGO
www.company.com
Company LOGO
ICICI has taken initiatives to start micro insurance under its parent company's Micro-finance scheme.
www.company.com
Company LOGO
www.company.com
Company LOGO
www.company.com
Company LOGO
www.company.com
Company LOGO
www.company.com
Company LOGO
www.company.com
Company LOGO
OVERVIEW
•
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential. Total capital infusion stands at Rs. 47.80 billion, with ICICI Bank holding a stake of 74% and Prudential plc holding 26%. In 2008 their nation-wide team comprises of 2074 branches (inclusive of 1,116 microoffices), over 225,000 advisors; and 7 Bancassurance partners. At present, the company has 2100 branches including micro offices, around 290,000 advisors and 18 Bancassurance partners. The co. also has one of the largest distribution networks amongst private life insurers in India. ICICI Prudential has been voted as India's Most Trusted Private Life Insurer, by The Economic Times - AC Nielsen ORG Marg survey of 'Most Trusted Brands'. ICICI Prudential is the first life insurer in India to receive a National Insurer Financial www.company.com Strength rating of AAA (India) from Fitch ratings.
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Company LOGO
FINANCIALS
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ICICI Pru. Life's capital was Rs.37.72 billion (as on March, 2008). The co. garnered a total premium (new business plus renewal) of Rs 9,918 cr for the 9-m period ended Dec.31,2008 (9MFY09) as against Rs 7,758 cr during the corresponding period last year i.e. in 2007, registering a growth of 28%. The renewal premium showed a strong growth of 75%, and stood at Rs 5,427 crore for 9MFY2009. Its market-share stood at 11.8%, for 10-month ended Jan 31, 2009, making it the leading private life insurance player. As on Jan 31’09, the co’s assets under mgmnt. (AUM) stood at Rs 28,515 crore. They currently have over Rs. 46,000 cr (as on Aug 31, 2009) in AMU & are one of the top fund managers in the country They are capitalized at Rs. 4,780 cr (as on Apr 30,2009) making one of India's highest capitalized companies across sectors. Since inception, ICICI Prudential Life has sold over 90 lakh policies.
www.company.com
Company LOGO
FINANCIALS
Q1-2009 (Rs. In bln.) 30.88 269.67 14.5% Q1-2010 (Rs. In bln.) 28.44 430.35 11.6%
ICICI LIFE Total Premium AUM Expense ratio
www.company.com
Company LOGO
PRODUCTS
www.company.com
The table below gives a general guide to the plans that
Company LOGO
are appropriate for different life stages.
Life Stage Young & Single Young & Just married
Life Insurance Product Wealth creation plans Wealth creation and mortgage protection plans
Married with kids Middle aged with grown up kids
Across all life-stages
Education insurance, mortgage protection & wealth creation plans
Retirement solutions & mortgage protection
Health Insurance
www.company.com
Company LOGO
PRODUCTS
It offers wide range of insurance products for individuals and groups. It offers list of insurance products under following categories: 1. Educational Insurance Plan 2. Wealth Creation Plans 3. Premium Guarantee Plan 4. Protection Plans 5. Retirement Plans 6. Health Plans 7. Group Plans 8. Rural Plans 9. Micro Insurance Plans
www.company.com
Company LOGO
TRADITIONAL PRODUCT
• • • • • •
ICICI Pru Pure Protect is a flexible and affordable term product, with which you can ensure your life and provide total security for your family in case of an unfortunate event. ICICI Pru LifeGuard is a protection plan, which offers life cover at low cost. It is available in 2 options –level term assurance with return of premium & single premium. SmartKid plans are also available in traditional form. ICICI Pru ForeverLife is a traditional retirement product that offers guaranteed returns for the first 4 years. ICICI Pru Immediate Annuity is a single premium annuity product that guarantees income for life at the time of retirement. It offers the benefit of 5 payout options. ICICI Pru Life Time Super Pension: is especially designed to help you systematically save towards a joyful and satisfying retirement
www.company.com
Company LOGO
TRADITIONAL PRODUCT
ICICI Pru Pure Protect
• • • •
It is a flexible and affordable term insurance plan. It is specially designed to provide the customers with the option of availing an life cover and provide financial security to their dependents at unfortunate event. The plan is available in two variants: Pure Protect Classic & Pure Protect Elite The insurance protection at one of the lowest rates in the market with premium starting from as low as Rs.2,400/- per annum. This product is specially designed to provide customers with the option of an availing an insurance cover and provide total security to their dependents in case of an unfortunate event.
www.company.com
Company LOGO
TRADITIONAL PRODUCT
ICICI Pru Pure Protect
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Policy Details– Age at Entry- 18 to 65 years. – Age at maturity- Up to 75 years. – Term- 10 to 30 years.
•
– Sum Assured- Up to Rs.25 Lakh for classic & Rs.25 Lakh & above for Elite. – Premium Payment Option- Annually, Half Annually and Monthly.
Features and Benefits-
– Guaranteed death benefits of total sum assured is payable to the
beneficiary.
– Additional protection with accidental and death benefits rider & waiver of
premium rider.
– Tax benefit under section 80C and 10(10D) of income tax act.
www.company.com
Company LOGO
TRADITIONAL PRODUCT
Money back Plan
•Plan Name •Type of Risk Cover •Maximum Premium •Min Sum Assured •Max Sum Assured •Min Term •Max Term
www.company.com
Cash Back Life Cover with Survival and Maturity benefits 20 yrs 75000.00 No Bar 15 yrs 20 yrs
Company LOGO
TRADITIONAL PRODUCT
Money back Plan
Features : • Fixed-term insurance plan that provides with funds at regular intervals. • Available in 15 year and 20 year terms. • 70% of Sum assured payable as Cash-back at different stages of policy term. • Maturity benefit @ 50% of the Sum assured along with guaranteed additions, for the first 4 years, and vested bonuses (if any). • Available with optional Critical illness Rider, Accidental Death & Disability Benefit Rider. • Tax exemptions under Sections 80C and 10(10D) of the Income Tax Act, 1961.
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
Life Stage Pension
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One of the most distinguishing features of this policy is that it has no premium allocation charge for regular premiums which means 100% of your money is invested. • The policy provides you with a unique lifecycle-based strategy that continuously redistributes your money across various asset classes based on your life stage and risk tolerance, eventually providing you with a customized retirement solution. Pension at glance Minimum/Maximum Entry Age 18 years to 70 years Maximum Cover Ceasing Age 80 years Minimum/Maximum Policy Term 10 years to 62 years Minimum/Maximum Vesting Age 50 years to 80 years Premium Payment Frequency Monthly, half-yearly, yearly Minimum Premium Rs. 15,000 p.a. Tax Benefit Under Section 80CCC
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
Life Stage Pension
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Key Benefits of LifeStage Pension Option to choose a unique and personalised lifecycle based portfolio strategy to create ideal balance between Equity and Debt. · This plan invests 100% of your money in the portfolio of your choice. Enjoy the flexibility to choose from 5 pension options through which you can receive your pension. Opportunity to earn potentially higher returns by investing in Unit Linked Funds. . This plan would be the best fit for your financial and protection requirement
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
ICICI Educational Insurance Plan
• •
•
• – –
This plan is the complete solution for your child’s future. This plan is available in three variants1. Smartkid New Unit Linked Regular Premium
2. Smartkid New Unit Linked Single Premium 3. Smartkid Regular Premium
These plans insures that money is provided at the important stages of child’s education like board exam, graduation & post graduation.
BenefitsGuaranteed sum assured is paid. Future premiums are paid by company till maturity of the plan and your family is free from financial burden.
–
Tax benefits as per income tax rule. Additional rider plans are available.
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
ICICI Pru Smartkid New Unit Linked Regular Premium
ICICI Pru Smartkid New Unit Linked Regular Premium is a fixed term insurance plan that provides guaranteed educational benefits to child along with life insurance protection for the parent. • Policy at Glance – Age at Entry- 20-60 years (Parent) and 0-15 years (Child) – Age at Maturity-70 years (Parent) and 19-25 years (Child) – Policy Term- 10-25 years – Sum Assured-Minimum Rs.1Lakh – Premium Mode-Annually, Half Annually and Monthly.
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
ICICI Pru Smartkid New Unit Linked Regular Premium
• – – – – – – –
Features In the unfortunate event of death of the parent during the term of the policy, the sum assured is paid out immediately. The future premiums towards the policy will be paid by the company. Maturity benefits of fund value is payable at end of the policy term. 8 investment funds that suits to investment needs. 4 free switches during policy year. The min. switching amt. is Rs.2000/Top up facility to increase your investment. The minimum top up amount is Rs.2000/Additional protection by riders like Income Benefit Rider, Accidental Death and Disability Rider and Waiver of Premium Rider. Tax benefit under section 80C and 10(10D) of the income tax act. www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
ICICI Pru Life Time Gold
ICICI Pru Life Time Gold is regular unit linked insurance plan that offers potentially higher returns through multiplier fund. It provides flexibility over the life and gives the right balance between protection and saving. • Policy at Glance – Age at Entry-0 to 65 years – Maturity Age- 75 years. – Policy Term-10 to 75 years. – Sum Assured- Min. Rs.1,00,000/– Premium Payment Mode-Annually, Half Annually and Monthly.
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
ICICI Pru Life Time Gold
•
Features and Benefits– Maturity benefits of the fund value is payable to the policy holder. – Death benefits of higher of sum assured or fund value is payable to the nominee. – Systematic withdrawal of money from fourth policy year. – 4 free switches in a year. – Option to choose from 7 different investment funds. – Tax benefit under section 80C, 80D and 10(10D) of income tax act.
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
ICICI LifeLink Super
It is a single premium unit linked insurance policy that’s combining with both life insurance needs and investment. It is a best suited plan for those individual who wish to invest a larger amount and earn higher returns over a period.
•Policy at Glance- Entry Level Age-0 to 65 years - Maturity age- Maximum up to 70 years - Policy Term- Minimum 5 years - Sum Assured-125% or 500% of the single premium - Payment Mode-Single
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
ICICI LifeLink Super
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Features and Benefits -
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100% allocation for premium amount above Rs.5Lakh. Death benefits of the higher of sum assured or fund value is payable to the beneficiary in case life assured dies during the policy term. Survival to the maturity life assured will receive the fund value with choices of various payment mode. Various fund options of equity, debt, balanced, money market and cash.
Four switches in a year at no extra cost.
– –
Partial withdrawal is allowed after 4th policy year. Tax benefit under section 80C and 10(10D) of income tax act.
www.company.com
Company LOGO
NON-TRADITIONAL PRODUCT
Capital guarantee - ICICI Invest Shield Cash Back Plan
It is a unit linked plan that provides premium guarantee while maintaining a balance between return, safety & liquidity.
• • • •
if your investment turns negative it promise you to pay at least what you have invested. But because of this feature this plan has so many restrictions. Only one fund option is available and which invest entire amount in to Debt and Money Market and hence the risk is very low but at the same time return will also be low. There is no switching facility as only one fund option is available.
• • • • •
Min/Max Entry Age 0/65 years Min/Max Age of Maturity 19/75 years Min/Max Term 10-30 years Minimum Premium Rs 8000 P/A Min. Sum Assured Annual Premium * Term/2 Premium Guarantee: Total premium paid till date minus amount withdrawn www.company.com partially is guaranteed on maturity.
Company LOGO
NON-TRADITIONAL PRODUCT
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Death Benefit- On death of the policy holder, nominee will receive the sum assured with the higher of the unit fund value or guaranteed value of unit fund. This is the most important feature of this plan as nominee would not only receive Sum Assured but also the Guaranteed Value or Fund value. Maturity Benefit- Survival value is paid to the policy holder at the end of policy term. The maturity benefit will be the higher of fund value or guaranteed value of unit fund. Liquidity Options- Partial withdrawals can make from 6th year onwards. One partial withdrawal is permitted in a year till the end of the policy term. And option to withdrawing up to 10% of the value of units from unit funds. Tax Benefits- Premium paid are eligible for tax deduction u/s 80C. Maturity and death benefits are deductible u/s 10 (10D)
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COMPARISON MAP
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COMPARISON MAP
ICICI PRUDENTIAL LIFE INSURANCE RELIANCE LIFE ? ? Innovative product offerings strengthening product portfolio
CATEGORIES Products
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High product innovation Presence in all product segments Multi stage/life
multi-level distribution trained agency force strong Bancassurance partnerships brand acceptance strong management focus Established distribution channel more susceptible to losing market share to new players
Distribution
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Still building on distribution channel
Key strengths
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aggressive management growing distribution
Concerns
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growing Bancassurance partnerships
ICICI LIFE
Q1-2009 (Rs. In bln.) 30.88 269.67
Q1-2010 (Rs. In bln.) 28.44 430.35
RELIANCE LIFE Total Premium AUM
Q1-2009 (Rs. In bln.) 7.5 82.9
Q1-2010 (Rs. In bln.) 9.0 39.1
Total Premium AUM
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Company LOGO ICICI Policy Features Life Stage Pension RELIANCE Golden years Plan
Minimum Premium
Rs.15000. Per Annum
Rs.10000.Per Annum
Min & Max Policy Term
10 yrs & 62 yrs
5 yrs & onwards
Min & Max age at Entry
18 yrs & 70 yrs
18yrs & 65 yrs
Min. & Max Vesting age
50 Yrs & 80 yrs
45 yrs & 70 yrs
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Switching allowed
4 switches
only 1 switch
Min. Switching Amount
Rs.2000.
Rs.2500
Switching Charges
Rs.100 Rs.2000.onwords, 90% will be allocated to the fund Available free of cost
1% of amount Switched, MaxRs.1000 Rs.2500, 90% will be allocated to the fund NIL
Min. Top Up Amount
Automatic Transfer Fund
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Death Benefit
No Life Insurance Cover. However,in the event of death, the Spouse receives the fund value Available, Charges will be automatically deducted from Fund Value Option to receive 1/3 Amount at the vesting date. Tax free a- Life Cycle based portfolio strategy b- Fixed Portfolio strategy
No Life Insurance Cover. However,in the event of death, the Spouse receives the fund value
Cover Continuence option
Available, Charges will be automatically deducted from Fund Value
Commutation of Pension Fund
Option to receive 1/3 Amount at the vesting date. Tax free
Choice of Portfolio Strategy
NIL b- Fixed Portfolio strategy
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8 funds depending upon Risk and Return Nil Rs.15000-Rs.34999.0.5% p.m. Rs.35000-Rs.99999.0.35%p.m. Fund Management Charges Tax Benefit Surrender Value 2.25% to 0.75% U/S 80ccc 1yr to 3yr-not allowed 4th yr-90% of Fund Value 5th yr-94% 10th yr onwards 100%
Investment Options Premium Allocation Charges Policy Administration Charges
8 funds depending upon Risk and Return 1st yr 10%, 2nd yr onwords 5% NIL NIL For Growth Fund-1.75%, and others-1.5% U/S 80ccc 1yr to 3yr-not allowed
4th yr-90% of Fund Value 5th yr-95% 6th yr onwords-100%
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GROWTH SCENARIO
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ULIP GROWTH
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ULIP GROWTH
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SOURCE
www.icicipru.com Reliance Life website Business standard & Financial Express www.clickindia.com
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THANK YOU
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doc_907598602.ppt