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ICICI Prudential Life Insurance

ICICI Prudential Life Insurance Company Ltd began its operations in the year 2001. It is a joint venture between one of the largest private sector banks in India and Prudential Corporation Holdings Limited.

ICICI Prudential Life is one of the top players in the life insurance sector.

Company's product portfolio ranges from long term saving to financial protection products meeting different life stage requirements of its customers. The company aims to provide cost effective products, good supervision of assets and funds under its management and a hassle free claim settlement experience for its valued customers. It is also the first insurance company which has been listed on National Stock Exchange and Bombay Stock Exchange. The claim settlement ratio for the company in the FY 2017-18 is 97.88%. The company has maintained impressive claim settlement ratio in the last few years.

Interesting facts about ICICI Prudential Life Insurance Company Ltd

  • ICICI Prudential Life is the first private life insurance company to attain assets under management of 1 trillion
  • Assets Under Management (AUM) as on 31st March 2017 were Rs. 1,229.19 billion.
  • The company issued 1 lakh policies in the first year of operations.
  • The company has a healthy claim settlement ratio of above 90% in the last five years.

Benefits of ICICI Prudential Life Insurance

  • The plans offer comprehensive life cover with low cost online term insurance plans.
  • Life insurance helps you to meet your dual needs of life cover & investment .
  • Life insurance also helps in getting tax benefits on premium payment .
  • Life insurance retirement plans help you strategically plan your retirement fund.

Life Insurance Plans Offered by ICICI Prudential Life Insurance

Claim Settlement Process of ICICI Prudential Life Insurance

Step 1: Report the claim to the insurance company : It is very important to report your claim as soon as possible. You can report your claims online, at the ICICI Prudential branches, central office, via SMS, e-mail or through their call centre. However, claims reported online, through SMS or e-mail will not be considered as intimation. You will need physical documents to formally register your claim and start the process.

Step 2: Claim Processing : ICICI Prudential Life Insurance Claim Care team will assess your claim, and inform you in case any further documents are required to be submitted. Post receiving all the necessary documents, we will process your claim request.

Step 3: Claim Settlement : Once the claim is reported and all relevant documents are submitted, the claim will be processed and settled by the company at the earliest.

ICICI Prudential Life Insurance Review

ICICI Prudential Life Insurance has got an impressive range of insurance products to offer to cater to the individual needs of different customers. The track record of the company with regards to service is one of the best in the industries. With a healthy claim settlement ratio and simple claim process, it is one of the best life insurers operating in the Indian life insurance market today.

ICICI Prudential Life Insurance Company Contact Details

New Customers: 1860 266 7766


Existing Customers: Can contact by submitting online form on website 1860 266 7766


NRI Customers: +91 22 6193 0777* - Open 24X7 (except national holidays) or 1860 266 7766


Group and Annuity Customers: 1860 266 7766


FAQs of ICICI Prudential Life Insurance

How do I cancel my ICICI Prudential life insurance policy?

You can cancel or surrender your ICICI Prudential life insurance policy by following these steps:

Submit the reason why you want to surrender your policy, along with the relevant Cancellation/Surrender Form at any ICICI Prudential Life Insurance branch of your preference, along with the below documents in their original form.

  • Cancelled cheque under your name
  • In case the cancelled cheque does not have your name and account number printed on it or have the new account number printed on your cheque /bank statement statement/pass book
  • Proof of Identity (PoI) like Aadhaar Card, PAN Card, Voter ID, Driving License and Passport
  • Your contact information
  • NRE Bank Statement with details about premiums paid by you from the NRE Account

How can I check policy status of ICICI Life Insurance?

  • Register yourself on the official website of to check the policy status
  • A policy number can also be used to check your policy status

Can I surrender my ICICI Prudential policy online?

You cannot surrender your ICICI Prudential life insurance policy online. You have to visit any of their branches as the surrender procedure requires you to submit documents like Proof of Identity (PoI), cancelled cheque, etc. in its original form.

How can I claim ICICI Prudential policy?

Raise a claim: Ensure that you make a claim as soon as possible. You can register the claim at any ICICI Prudential branch, get in touch through their call centre, send a SMS or email them. However, claims raised online, through email or SMS are not considered as a claim intimation. You have to submit the required documents in their original form to register the claim officially.

Process the claim: The Claim Care Team at ICICI Prudential Life Insurance will evaluate your claim, and get in touch with you in case any other documents are required for further verification. After all the documents have been verified, your claim will be processed.

Claim settlement: Post processing of your claim, the payment will be settled.

What is the grace period for ICICI Prudential premium?

The grace period for premium payments for ICICI Prudential life insurance is 15 or 30 days, depending upon the policy and premium payment mode.

What is ICICI Prudential LifeTime Super pension plan?

ICICI Prudential LifeTime Super Pension policy is a Unit Linked (ULIP) retirement plan that encourages you to save in a disciplined way, so that you can financially secure your post retirement years. This enables you to build a robust corpus for a time when you are no longer gainfully employed, thereby making you eligible for a fixed income after you have retired. Prudential LifeTime Super Pension policy offers a fixed income after your retirement.

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