ICICI Prudential Life Insurance Company Limited is an Indian life insurance company that began its operations in 2001. It was established as a joint venture between ICICI Bank and Prudential PLC and is headquartered in Mumbai. ICICI Prudential Life Insurance Company is the first insurance company in India to be listed in the domestic stock exchanges, namely the National Stock Exchange and Bombay Stock Exchange.
The firm crossed 1 trillion marks in assets under management in the year 2015. The significant shareholders of the company are Temasek Holdings, Premji Invest, and the Government of Singapore. Registered with the IRDAI or Insurance Regulatory and Development Authority of India, ICICI Prudential is qualified to carry out life insurance business.
July 2017: ICICI Prudential Life received an order from the Insurance Regulatory and Development Authority of India (IRDAI) to take over the assets and policyholders' liabilities of Sahara Life Insurance. It is purely a transfer of Sahara Life Insurance customers to ICICI Prudential Life and not a merger.
November 2017: ICICI Prudential Life Insurance Company Limited announced that it had implemented the Electronic - National Automated Clearing House (e-NACH) service of India's National Payment Corporation.
The core value of the company is to keep the customers on the priority list. The firm also encourages the employees to work with integrity and under the best policies.
Insurance is meant to secure you and your family. ICICI Prudential Research Report reflects the best services provided by the company.
Term Insurance: ICICI Pru IProtect Smart: It covers Covid-19 claims. You will get a claim payout on the first diagnosis of 34 critical illnesses. The insurance also provides more extended cover till the age of 99. You can also claim an accidental death benefit up to Rs.2 crores.
Health Insurance: There are several health insurance plans. The main ones are:
Individual Plans: The plan covers the hospitalisation cost of the insured person.
Family Plans: All the members of your family will be covered under one plan.
Senior Citizen Plan: The plan meets the needs of the person above the age of 60 years.
Critical Illness Insurance Plans
Personal Accident Insurance
Unit-linked Health Insurance Plan
Savings Plan: The key features of the plan is:
Maturity Benefit: it provides assured maturity benefits.
Steady Returns: It offers stable and safe returns.
Flexible-Premium Payment: You get the option to pay the premium monthly, quarterly, half-yearly, or yearly.
Life Cover: Provides financial security to your dear ones.
Pension Retirement Plan: You and your partner will get a regular pension under this plan. You also get to enjoy the tax benefits.
ICICI Pru Loan Protect
ICICI Pru Loan Protect Plus
ICICI Pru Group Term Plus
ICICI Pru Group Loan Secure
FY2005: Crossed the mark of one million policies
FY2008: Crossed the mark of Rs.100 billion of the total premium
FY2010: The company registered a profit of Rs.2.58 billion
FY2012: The company started paying off the dividends
FY2015: Crossed one trillion of assets under management
FY2017: Became the first Indian Insurance Company to be listed in the stock exchanges.
FY2021: Crosses 2 trillion of assets under management.
ICICI Prudential Life is dedicated to excellence in everything. ICICI has been ranked as the top 2 Indian companies in the Indian Corporate Governance Scorecard.
2018-19: ICAI Award for Excellence in Financial Reporting
2019: The firm was ranked as the most valuable brand in India by 'Brand ZTop' six times in a row.
2019-20: ICICI Prudential Annual Report, 19-20, was ranked #52 worldwide. The ranking was done based on the entries by the League of American Communications Professionals LLC.
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