ICICI Prudential Life Insurance

07 Mar

ICICI Prudential Life Insurance’s claim settlement ratio stood at 97.9%

editor0 CommentsBusinessICICI Prudential Life Insurance

ICICI Prudential Life Insurance’s claim settlement ratio stood at 97.9% during FY2021 and the Company took 1.4 days to settle non-investigated death claims. For the 9 months-ended FY2022, the Company has settled Rs. 982 crore worth of Covid-19 related claims. The mobile app developed by the Company enables customers to choose the layout of the dashboard for ease of access of top transaction options. The Company offers over 3,00,000 touch-points to make renewal premium payments, covering approximately 95% of the pin-codes in the country. These initiatives have enabled the Company to post a 13thmonth persistency of 84.8% for 9M-FY2022, one…

ICICI Prudential Life Insurance launches new income product

editor0 CommentsBusinessICICI Prudential Life Insurance

ICICI Prudential Life Insurance has launched a new non-participating savings product ‘ICICI Pru Guaranteed Income for Tomorrow (Long-term)’. This product provides customers with the option to either receive regular guaranteed tax-free ‘Income’ or ‘Income with 110% Return of Premium’. Both these plan options provide income for up to 30 years. Also, the life cover offered under this product continues for the entire duration of the policy including the income period.ICICI Pru Guaranteed Income for Tomorrow offers the flexibility to the customers to select the premium payment term of either 7 or 10 years and based on their needs can opt…

ICICI Pru Life’s ‘Product of the Year 2021’

editor0 CommentsBusinessGuaranteed Pension Plan, ICICI Prudential Life Insurance, Product of the Year – Retirement and Pension Plans

An innovative retirement solution has been launched by ICICI Prudential Life Insurance by combining two variants of its popular ‘Guaranteed Pension Plan’. It offers a guaranteed return on investments. This solution provides customers with increasing regular income that doubles after five years and triples after the 11th year, thereby shielding them against the rising cost of living. The pandemic has made customers appreciate the importance of financial planning, and this is specially so for life after retirement. The customer-centric retirement or annuity products offered by the Company have enabled it to grow the annuity business segment by 120% in FY2021.…