ICICI Pru Elite Wealth and ICICI Pru Elite Life are the two new product offerings by ICICI Prudential Life Insurance Company. The two unit-linked investment plans (ULIPs) have been designed keeping in mind the investment needs of high net worth individuals who want to park a substantial part of their wealth.
 

ULIP is an investment cum insurance product. In both the new plans, the customer would get the fund value on maturity. If the insured person dies before maturity, then either the sum...  Read More »

Today, ICICI Prudential, one of India’s largest private sector life insurance companies announced the launch of its new online pure term insurance plan – iCare.

iCare will succeed the flagship online term plan of ICICI Pru - iProtect. The new online plan iCare carries some best-selling features of iProtect such as the Option 2 which has an inbuilt Accidental Death Benefit rider.

Key Features of iCare Term Plan:

- Instant Life Cover through simple online application process

- Flexibility...  Read More »

After the runaway success of its first online term insurance plan iProtect, ICICI Prudential introduces yet another online new term insurance plan ‘iCare’.
 

ICICI Prudential was the 2nd life insurance company to launch low-cost online term plan in the Indian market and in a year of launch, ICICI Pru iProtect became one of the top-selling online life plans in the country. One of the unique features of iProtect was the choice of attaching an Accidental Death Benefit rider with the base plan and...  Read More »

New business premium of life insurance companies have collectively declined by 2.5% for the month of July 2011 as compared to that in July 2010.
 

Out of the 23 life insurance companies in India, only 7 of them have shown a positive growth. These companies are Life Insurance Corporation of India (LIC), SBI Life Insurance, Max New York Insurance, Aviva Life Insurance, Kotak Life Insurance, Met Life Insurance and ING Vysya Life.

Aviva Life Insurance has taken the highest jump of 94% by...  Read More »

Insurance awareness among Indian consumers is on the rise and insurance companies are leaving no stone unturned to gain an edge over their competitors by launching innovative plans. A lot of insurance companies are breaking out of the old vanilla plans to introduce insurance products to cater to different customer needs.

Life insurance policies contribute close to 4.4% of the total insurance penetration of 5.1% in India. This clearly indicates that customers are more inclined towards buying...  Read More »

SBI Life Insurance Company has managed to overshadow all the 21 private life insurance companies for the month of May 2011 by collecting premiums of Rs 394.38 crores.

In comparison to SBI Life’s business figures, ICICI Prudential Life has collected only Rs 245.6 crores in May, followed by HDFC Life Insurance Company's collections of Rs 187.3 crores. These three are the top three private life insurance companies in terms of their business figures for last month.

There are 22 private life...  Read More »

Life insurance companies in India focused on controlling costs and renewal business which enabled them to make higher profits in 2010-2011 as compared to the previous year.

Last year, when insurance companies were worried about the new guidelines on Unit Linked Insurance Plans (ULIPs) and how it would affect their business, Insurance Regulatory and Development Authority (IRDA) suggested them to cut down on costs in order to stay profitable. This suggestion hinted towards redesigning of...  Read More »

ICICI Prudential Life Insurance has announced a growth of 213% in its profits after tax (PAT) figures for the financial year 2010-11 over the previous year.

The insurer has clocked an annual profit after tax of Rs 808 crores for the financial year ended March 2011 as against Rs 258 crore in FY 2010.
 

The total premium garnered by ICICI Prudential in FY 11 is Rs 17,881 crores as against a collection of Rs 16,529 crores in FY 10. 

ICICI Prudential Life has become the largest private...  Read More »

ICICI Prudential Life Insurance has left its private counterparts way behind by collecting a premium Rs 7860.99 crores during the financial year 2010-11. This is a 24% jump from its premium collections of Rs 6334.3 crores in FY 2009-10.

 
Out of 22 private life insurance companies in India, ICICI Prudential Life Insurance has turned out to be the highest gainer followed by SBI Life which collected Rs 7570.72 crores. SBI Life has shown an increase of 7.53% over its premium collections of Rs...  Read More »

ICICI Prudential has a new offering for customers looking for a Guaranteed Savings Insurance Plan. The newly launched endowment plan is a long-term savings policy which offers guaranteed maturity benefit.

The guaranteed maturity benefit will be a total of all the premiums paid along with guaranteed regular additions and maturity additions.

Guaranteed Savings Insurance Plan can be availed by all individuals less than 60 years of age. No medical tests are required and the minimum annual...  Read More »