ICICI INSURANCE

What is life insurance?

Life insurance ensures that your family will receive financial support in your absence. Put simply, life insurance provides your family with a sum of money should something happen to you. It protects your family from financial crises. In addition to serving as a protective cover, life insurance acts as a flexible money-saving scheme, which empowers you to accumulate wealth-to buy a new car, get your children married and even retire comfortably. Life insurance also triples up as an ideal tax-saving scheme.

Why do I need life insurance?

Who will take care of my family if tomorrow something unfortunate happens to me? If this question bothers you, then Life Insurance is the answer. Of course, under any circumstances, the loss of a loved one is a traumatic experience. But, if your family is also left without sufficient money to meet basic living needs or prepare for future goals, they will have to cope with a financial crisis at the same time. A Life Insurance plan ensures that your family is financially secure even if tomorrow you are no longer around to care for them. Key Benefits of Life Insurance Life insurance, especially tailored to meet your financial needs Need for Life Insurance Today, there is no shortage of investment options for a person to choose from. Modern day investments include gold, property, fixed income instruments, mutual funds and of course, life insurance. Given the plethora of choices, it becomes imperative to make the right choice when investing your hard-earned money. Life insurance is a unique investment that helps you to meet your dual needs - saving for life's important goals, and protecting your assets. Let us look at these unique benefits of life insurance in detail.

Asset Protection From an investor's point of view, an investment can play two roles - asset appreciation or asset protection. While most financial instruments have the underlying benefit of asset appreciation, life insurance is unique in that it gives the customer the reassurance of asset protection, along with a strong element of asset appreciation. Goal based savings Each of us has some goals in life for which we need to save. For a young, newly married couple, it could be buying a house. Once, they decide to start a family, the goal changes to

planning for the education or marriage of their children. As one grows older, planning for one's retirement will begin to take precedence. Life insurance is the only investment option that offers specific products tailormade for different life stages. It thus ensures that the benefits offered to the customer reflect the needs of the customer at that particular life stage, and hence ensures that the financial goals of that life stage are met. The table below gives a general guide to the plans that are appropriate for different life stages. Life Stage Young & Single Young & Just married Married with kids Middle aged with grown up kids Across all lifestages Primary Need Asset creation Asset creation & protection Children's education, Asset creation and protection Planning for retirement & asset protection Health plans Life Insurance Product Wealth creation plans Wealth creation and mortgage protection plans Education insurance, mortgage protection & wealth creation plans Retirement solutions & mortgage protection Health Insurance

Tax Benefits on Insurance and Pension Life insurance and retirement plans are effective ways to save taxes when doing your year end tax planning. To assist you in tax planning, the tax breaks that are available under our various insurance and pension policies are described below: 1. Our life insurance plans are eligible for tax deduction under Sec. 80C. 2. Our Pension plans are eligible for a tax deduction under Sec. 80CCC. 3. Our health insurance plans/riders are eligible for tax deduction under Sec. 80D. 4. The proceeds or withdrawals of our life insurance policies are exempt under Sec 10(10D), subject to norms prescribed in that section. Invest in ICICI Prudential Life insurance and retirement plans and avail of these tax planning services to save tax at your year end tax planning!

Life stage profiler

Which important goals should you plan for in advance?

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Your family's protection : so that your loved ones are secure should an unfortunate event happen to you. Buying Life insurance assures that your family receives a lumpsum that safely tides them over any financial crises that might occur in your absence. Child's education : As parent, your primary responsibility is to ensure your children's future. Our Education Insurance plans ensure your child receives money at key stages of his or her education even in your absence. Savings : Savings plans allow you to steadily save towards a pre-decided goal in a secure manner. These plans provide you with a host of benefits. You can choose the premium, the underlying fund in which you want to invest your money, the ratio between protection and investment as per your requirements. Retirement : Retirement plans help you secure regular income for your retired life. During the Accumulation phase, you systematically save while you are working. When you retire, the Payout stage of the plan begins. You then purchase an annuity, which will serve as a steady stream of income, for the rest of your life. Health : An integral part for financial planning is protecting oneself against any medical emergencies as well. Hence, a very prudent decision would be to choose a combination of plans that look after your finances and offer you a protective health cover to ensure your financial planning is in track despite any major illnesses. What are the tax benefits available? Life Insurance as a tax saving tool, offers savings under various sections of the income tax act. Some of the key tax benefits offered are as follows:

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1. Our life insurance plans are eligible for tax deduction under Sec. 80C. 2. Our Pension plans are eligible for a tax deduction under Sec. 80CCC. 3.Our health insurance plans/riders are eligible for tax deduction under Sec. 80D. The proceeds or withdrawals of our life insurance policies are exempt under Sec 10(10D), subject to norms prescribed in that section.

Key benefits of ICICI Pru SmartKid Premier

Coverage options: Ensure a comprehensive safety net for your child by choosing between: a. Single life Insurance coverage for yourself, and b. Joint life Insurance coverage for both you and your spouse in the same policy. Comprehensive protection for childs education: Lump sum payment of Sum Assured PLUS waiver of all future premiums payable under the policy by the Company in the unfortunate event of death of the parent. Units will continue to be allocated as if the premiums are being paid. Multiple portfolio strategies: Choose a personalized portfolio strategy from: Fixed Portfolio Strategy: Option to allocate your savings in the funds of your choice LifeCycle based Portfolio Strategy: A personalized portfolio strategy to create an ideal balance between equity and debt, based on your age Trigger Portfolio Strategy: A unique portfolio strategy to protect gains made in equity markets from any future equity market volatility while maintaining a pre-defined asset allocation. Flexible premium payment options: You can either pay premium throughout the policy term or for a limited period Loyalty additions: Paid at the end of every fifth policy year, starting from the end of the 10 policy year subject to payment of all due premiums Partial withdrawals: Facility to withdraw money at key educational milestones of your childs life Tax benefits: On premiums paid and benefits received as per prevailing tax laws.

You need to choose the premium amount, sum assured, coverage option, premium payment option, premium payment mode, policy term and portfolio strategy for your policy. After deducting the premium allocation charges, the balance amount will be invested in the portfolio strategy of your choice. At maturity, the Fund Value including Top up Fund Value, if any,shall become payable. Alternatively, the Settlement Option can be chosen. In the unfortunate event of death of the parent (Life Assured) during the term of the policy, the Company shall pay the full Sum Assured and shall also waive all the future premiums payable under the policy while continuing the allocation of units as if the premiums are being paid. However, if the joint life option is chosen, the death benefit shall become payable on death of either of the parents, whichever is earlier. The maturity benefit shall become payable on the date of maturity.

How does the policy work? at a glance

For your policy to continue for the entire policy term, premiums must be paid until the end of the selected premium payment term. Please assess whether you can afford to pay these premiums before purchasing the policy.

Benefits in detail
>> Death Benefit :-- Subject to the policy being inforce, in the unfortunate event of death of a parent who is a life assured during the term of the policy, the following benefits shall become payable :-Higher of Sum Assured and 105% of the total premiums (including top-up premiums) paid till date, less applicable partial withdrawals would be paid to the Nominee immediately. Where the Nominee is minor, the benefits shall become payable to the Appointee under the policy. >> Maturity Benefit :-- At maturity, the Fund Value including the Top up Fund Value, if any, shall be payable to the Policyholder.If the Payer Waiver benefit has been triggered, the maturity benefit will be payable to the Nominee on maturity . Where the Nominee is minor, the benefits shall become payable to the Appointee under the policy. The recipient of the maturity benefit can opt for the Settlement Option. >>Loyalty Additions :-- Loyalty additions shall be allocated at the end of every fifth policy year starting from the end of the 10 policy year, provided all due premiums have been paid. This loyalty addition will be calculated as 2% of the average of Fund Values on the last day of the eight policy quarters preceding the said allocation.Loyalty Additions would be made by allocation of extra units at the end of the year. >> Surrender :-- { Non Forfeiture Benefits } Surrenders would not be allowed during the first five policy years. On surrender after completion of the fifth policy year, the policy shall terminate and Fund Value including the Top up Fund Value, if any, will be paid to the Policyholder.

Tax benefits:
Tax benefits under the policy will be as per the prevailing Income Tax laws. Service tax and education cesses will be charged extra as per applicable rates. Tax laws are subject to amendments from time to time. In case you have opted for RGF, only your first premium deposit, post- deduction of allocation charges, will be allocated for purchase of RGF 8 units. Subsequent premiums will be allocated as per the fund allocation specified by you at policy inception. You will have an option to switch into the RGF in case a tranche is open for subscription at that time. The policyholder will have the option to invest future premiums or to switch existing funds into the fund of your choice, including the RGF if a tranche is open for subscription.

ICICI Pru Smart Kid Premium Calculation

As a loving and caring parent, you have big dreams for your child and you want to make those dreams come true. To bring your dreams to life, you need an investment that is designed to provide adequate money for key educational milestones in your child's life, no matter what happens. With this objective in mind ICICI Prudential now presents ICICI Pru Smart Kid Regular Premium Plan. This is a participating endowment regular premium life insurance plan, with two options to receive guaranteed educational benefits, no matter what the uncertainties in your life. ICICI Pru Smart Kid Regular Premium plan comes with a unique Payer Waiver Benefit (PWB). This benefit ensures that in case of death of the parent, the company pays all future premiums on behalf of the parent. This means that the child gets money at important stages of his/her student life and education never suffers due to lack of funds.

Presenting Three Options To Secure Their Happiness In Life

Level Term Assurance Level Term Assurance with Return of Premium Single Premium Level Term Assurance
Under this plan, in case of death of the life assured during the term, the Sum Assured will be paid to the beneficiary. There are no maturity benefits. Hence on survival till maturity, the policy will terminate. You will need to pay the regular annual premium for the term chosen. You will be provided with life cover equal to the Sum Assured.

The table below provides indicative premiums for various age-term combinations for a Sum Assured of Rs. 10 lakhs.

Each premium indicated has been calculated on an annual premium* basis for a healthy adult male. The exact premium to be paid may vary as a result of underwriting.

Level Term Assurance with Return of Premium

Should you select this plan, you will need to pay a regular annual premium for the term chosen. You will be provided with life cover equal to the Sum Assured. The minimum Sum Assured under this plan is subject to minimum annual premium of Rs. 2,400 and maximum Sum Assured is Rs. 10,00,000.In case of death of the life assured during the term, the Sum Assured under the plan will be paid to the beneficiary. On survival till maturity, all the premiums paid, will be returned. Extended Life Cover :-- The plan also offers the unique feature of an additional extended cover for 5 years after maturity of the policy, for 50% of the Sum Assured without any further payment of premium. This provides additional protection, even after the Premium Paying Term. Cover will be available only in respect of policies which will be in force for full Sum Assured as on maturity date. There would be no extension of rider benefits cover. The table below provides indicative premiums for various age-term combinations for a Sum Assured of Rs. 10 lakhs.

Each premium indicated has been calculated on an annual premium* basis for a healthy adult male. The exact premium to be paid may vary as a result of underwriting.

Single Premium
This is a single premium variant of the LifeGuard Level Term plan. You will need to make a one-time premium payment, depending on the term and Sum Assured chosen by you. The minimum Sum Assured is Rs. 2.5 lakhs and the maximum Sum Assured is Rs 10,00,000. In case of death of the life assured during the term, the Sum Assured under this plan will be paid to the beneficiary. There are no maturity benefits, at the end of the term. The table below provides indicative premiums for various age-term combinations for a Sum Assured of Rs. 10 lakhs.

Each premium indicated has been calculated on an annual premium* basis for a healthy adult male. The exact premium to be paid may vary as a result of underwriting.

Who can apply?

1 . For LifeGuard Level Term Assurance : Applicants should be between 18 and 55 years of age. The minimum term is 5 years and the maximum term is 30 years, which is subject to a maximum of 65 years of age. The minimum premium payable is Rs. 2,400 per annum. 2. For LifeGuard Level Term Assurance with return of premium : Applicants should be between 18 and 55 years of age. The minimum term is 10 years and the maximum term is 30 years, which is subject to a maximum of 65 years of age. The minimum premium payable is Rs. 2,400 per annum. 3. For LifeGuard Single Premium : Applicants should be between 18 and 55 years of age. The minimum term is 3 years and the maximum term is 15 years, which is subject to a maximum of 65 years of age.

What additional features does LifeGuard offer you?

For added protection of your family against any unfortunate eventualities, LifeGuard offers you the following at a nominal extra cost. Accident and Disability Rider: On death of the life assured due to an accident, the beneficiary gets the additional Sum Assured under the Rider. In case an accident related death occurs while traveling by mass surface public transport, the beneficiary gets twice the Sum Assured under the rider. In the event of total and permanent disability, 10% of the Rider Sum Assured is paid out every year, for 10 years. Waiver of premium: In case of total and permanent disability due to an accident, this rider would waive future premiums till maturity. Note: The Riders mentioned above are not available with the LifeGuard Single Premium policy. For rider exclusions, please refer to the detailed rider brochure.

Can the policy be discontinued ?

In case you wish to surrender LifeGuard Level Term Assurance and Single Premium Plans, no surrender value is available. However, on surrender of LifeGuard Level Term Assurance with Return of Premium, a guaranteed surrender value is payable to you. This is only applicable once three years' of premium are paid.

ICICI Pru LifeGuard Premium Calculation

All of us want happiness and security for our family. The thought of unfortunate events befalling us may cause anxiety about our ability to provide for our loved ones. Adequate term insurance ensures that your loved ones are provided for and that their lives are not affected, even if you are not around. ICICI Prudential presents ICICI Pru Life Guard, a non-participating term insurance plan. Choose from two variants of this term plan to insure your life and provide total security to your family, at a very affordable cost. ICICI Pru LifeGuard-Level Term Assurance with Return of Premium

ICICI Pru Life Guard-Single Premium

Health Insurance that takes care of you today and invests your money for tomorrow.
Key Benefits of ICICI Pru Health Saver Coverage under the policy:- Guaranteed coverage(Conditions Apply ) up to age 75 for you 2 and your family against medical expenses incurred due to hospitalisation Coverage against pre-existing illnesses & conditions after 2 years subject to acceptance by the company Provides comprehensive cover by allowing reimbursement for health expenses not covered by the hospitalisation benefit after 3 years A free health check-up once every 2 years after the first year No claim bonus of 5% of the annual limit for every claim free year up to a maximum of 25% Option to continue cover post 5 years even after stopping premiums Avail tax benefits under section 80D on premiums paid under the Income Tax Act, 1961

Coverage under the policy

A. Hospitalisation Insurance Benefit
This benefit in your policy provides you cover against medical expenses that require a minimum of 24 hours hospitalisation. In addition, over 125 day-care procedures are also covered. The following expenses incurred during hospitalisation are covered, subject to your annual limit: 1. Room, boarding and nursing expenses as charged by the hospital single A/C room (room rent capped at 1% of annual limit per day). However for twin share A/C room there is no such cap applicable. 2. Intensive Care Unit (ICU) charges 3. Fees for doctor, surgeon, anaesthetist, medical practitioner, consultant and specialist 4. Anaesthesia, blood, oxygen, operation theatre charges, surgical appliances, medicines and drugs, diagnostic materials and x-ray, dialysis, chemotherapy, radiotherapy, cost of pacemaker, cost of artificial limbs .

Feature Description

B. Health Savings Benefit

This benefit entitles you to claim reimbursement for health care expenses incurred by any of the insured members from your health fund. Some of the benefits covered under the health savings benefit are: Medicines and drugs Diagnostic expenses Dental expenses Co-pays or deductibles as part of the medical insurance cover Other miscellaneous medical expenses not covered undermedical insurance The benefit can be claimed after 3 completed years of the policy and is subject to the existing fund value as given below: Claims can be made once in a policy year on producing actual bills or proof of expenses. The minimum amount that can be claimed is Rs. 1,000. To create the health fund part of the premium paid by you is invested in unit linked funds. You have the option to choose from two unique portfolio strategies: a. LifeCycle-based Portfolio Strategy b. Fixed Portfolio Strategy LifeCycle-based Portfolio Strategy This strategy takes into account your life stage. Your investments will be distributed between two funds. Health Flexi Growth and Health Protector in a proportion that depends on your age. As you move from one age band to another, we will redistribute your funds based on your age. Your investments will be allocated to the Health Flexi Growth and Health Protector Funds on a predefined schedule (Please refer to the section on investment details).

C. Additional Benefits
Cover Continuance Option This option ensures that your policy continues subject to foreclosure in case you are unable to pay premiums, any time after payment of the first five years premium. All applicable charges will be automatically deducted from the units available in your fund. You will need to opt for cover continuance, if you wish to avail of this benefit. Death Benefit In the unfortunate event of death of the primary insured member during the term of the policy, the nominee shall receive the total fund value and the policy shall be terminated. The fund value paid out on death of the primary insured may be taxable in the hands of the nominee as per the prevailing tax regulations at that time. In the unfortunate event of death of any other insured members the policy would continue for remaining insured members with the appropriate reduction in health insurance charges.

Illustrations
Consider an individual who has availed an ICICI Pru Health Saver policy with :-Annual Premium: Rs. 15,000 Annual Hospitalisation Limit: Rs. 2 lacs Coverage: Single Life Age at entry: 30 years

Amount available for reimbursement under Health Savings Benefit:

The above illustration is for a healthy male with all his investments in fixed portfolio strategy. The above are illustrative fund values, net of all charges. Service tax and education cess have been charged extra at the current rate of 10.30%. Since your policy offers variable returns, the above illustration shows two different rates (6% and 10% as per the guidelines of the regulator) of assumed future investment returns. The above illustration does not assume any increase in health insurance charges which may occur due to increasing healthcare costs. The fund value assumes that no reimbursements have happened till date.

Claims process made easy

Hospitalisation Insurance Benefit Take advantage of cashless hospitalisation through our extensive list of network hospitals available across the country. Alternatively you can claim your benefit amount for treatment in any out of network hospitals through our hassle free claims process. Originals of hospital bills, discharge card, doctor's certificate, prescriptions, diagnostic reports and any other relevant documents will be needed to process your claim as per the policy terms. The 4 step claims process is as easy as shown below: