PRODUCTS

ICICI has grouped its various products into two main categories. Under
these categories there are further sub-categories. They are:

INDIVIDUAL

GROUP

Individual Plans: 

ICICI Prudential Life Insurance has designed various customised and

innovative insurance products to meet the various needs of the customer
which keeps on changing with the changing phases of life. Thers are
various riders availballe which can be addd to products to make them
utmost customised.

A-Savings & Wealth Creation Solutions

ICICI Prudential Life Insurance-Save'n'Protect

ICICI Prudential Life Insurance-CashBakLifeTime Gold & LifeTime Plus
ICICI Prudential Life Insurance-LifeLink Super. 
ICICI Prudential Life Insurance-Premier Life GoldInvestShield Life New
ICICI Prudential Life Insurance-InvestShield Cashbak 
ICICI Prudential Life Insurance-LifeStage RP 

B-Protection Solutions

ICICI Prudential Life Insurance-LifeGuard

ICICI Prudential Life Insurance-HomeAssure 

C-Education insurance plans

ICICI Prudential Life Insurance-SmartKid 

D-Retirement Solutions

ICICI Prudential Life Insurance-ForeverLife 

ICICI Prudential Life Insurance-LifeTime Super Pension
ICICI Prudential Life Insurance-LifeLink Super Pension
ICICI Prudential Life Insurance-Immediate Annuity 
ICICI Prudential Life Insurance-PremierLife Pension 

E-Health Solutions

ICICI Prudential Life Insurance-Health Assure Plus 

ICICI Prudential Life Insurance-Cancer Care . 
ICICI Prudential Life Insurance-Cancer Care Plus .
ICICI Prudential Life Insurance-Diabetes Care . 
ICICI Prudential Life Insurance-Diabetes Care Plus 
ICICI Prudential Life Insurance-Hospital Care 
ICICI Prudential Life Insurance-Crisis Cover 

Group Plans:

ICICI Prudential Life also offers Group Insurance Solutions for companies
which aims to provide tension free working environment for their
employees.

ICICI Prudential Life Insurance-Group Gratuity Plan

ICICI Prudential Life Insurance-Group Superannuation Plan 
ICICI Prudential Life Insurance-Group Immediate Annuities 
ICICI Prudential Life Insurance-Group Term Plan 
ICICI Prudential, a joint venture between ICICI and the UK-based insurance entity
Prudential, was among the first private sector life insurance companies to receive
regulatory approval late last year.

Since then, ICICI Prudential has launched a handful of products that are analysed
below:

ICICI Prudential's life insurance products may be loosely categorised under three
forms: pure life insurance products without an investment angle to them; a
product that is a mix of a cumulative investment scheme and an insurance
product; and, finally, standard products such as money-back and endowment
policies.

Single Premium Bond: The Single Premium Bond is the name of a policy that
combines the features of an investment in a cumulative deposit scheme with that
of an insurance product.

Policy-holders are required to pay a one-time premium based on a target sum

assured. At maturity, the policy-holder gets the sum assured and guaranteed
additions that work out to a compound return of 4.5 per cent the sum assured.

The insurance part of the package comes in the form of death benefits that are
paid in the case of the demise of the policy-holder. The size of the death benefit is
linked to the number of years left for the policy to expire. On maturity date, the
maturity value is also paid in addition to the death benefits that would have been
paid earlier.

Life Guard policies: The company offers two pure life insurance products that
have an umbrella name, Life Guard. One of them involves a one-time premium for
which there are no maturity benefits. The other requires regular premium
payments that are returned at the end of the policy. Life Guard offers absolutely
no investment-related return and is suitable for individuals looking for an
unadulterated insurance package.

Click here for Table

Cash Back: ICICI Prudential's cash back policy is structured on the lines of the
money back policies offered by LIC and others in the field. Simply put, the policy-
holder gets regular returns at pre-determined intervals and the sum assured and
bonus at the end of the period.

ICICI Prudential's cash back policy has an interesting feature, in that, the company
offers a guaranteed bonus. In India, life insurance companies generally avoid
guaranteeing a bonus. LIC is regarded as an exception of sorts because the
entity's track record of bonus gives one a fair idea of what can be expected.
ICICI Prudential claims to be the only one offering a guaranteed bonus in addition
to another bonus that is contingent on the returns the company generates on
investment.

Save 'n' Protect policy: This policy falls under the category of endowment policy.
The policy-holder gets the sum assured and bonuses on survival.Unlike the cash
back policy, there are no guaranteed bonuses here. The novel feature of the
policy is that the policy-holder is covered for life for 50 per cent of the sum
assured for five years beyond maturity date.

Novel features: Industry hands often remark on the danger of comparing policies
by merely looking at the premium. A part of the premium goes into investments,
the benefits of which will accrue at the end of the policy. Therefore, a lower
premium could result in relatively lower benefits once the policy expires.

A better way to choose between competing policies may be a look at the riders
(additional benefits that come at a price) each company's policy offers.

Most of the riders come with the traditional money back and endowment policies
and the flexibility here may well be the USP of the latest generation of insurance
products.
ICICI Prudential's riders are meant to cover accidents, critical illness, assistance for
major surgeries and a desire to double the insurance cover during the life of the
policy.

The concepts underlying the riders offered by different companies are similar.
Therefore, any interested person will have to take a close look at the fine print, a
difference here could make all the difference.

The major advantage of the riders offered by ICICI Prudential, as well as its
competitors, is that a policy-holder has the flexibility to mix and match the rider
according to requirements, and thereby avoid paying for benefits one does not
need.